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Letters of guarantee surge to AED4.53tn in February

Abu Dhabi / WAM The total cumulative balance of letters of guarantee and other credit facilities provided by banks and other business entities in the UAE significantly grew to AED4.533 trillion in February, 2020, an increase of AED186 billion, or 4.3 percent approximately, from AED4.347 trillion in January, statistics by the Central bank of the United Arab Emirates have shown.

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Dubai unveils economic package for free zones

DUBAI / WAM Under the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, His Highness Sheikh Ahmed bin Saeed Al ...

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Saudi extends suspension of work, flights

RIYADH / WAM The Kingdom of Saudi Arabia announced on Sunday that it will extend the suspension of workplace attendance in both public and private sectors and international passenger flights among efforts to contain the spread of the coronavirus. In a statement issued by an official source at the Ministry of Interior, all domestic flights, trains, buses and taxis also ...

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