December, 2022

• 27 December

  World economy faces recession in 2023, says British consultancy

  

  Bloomberg The world faces a recession in 2023 as higher borrowing costs aimed at tackling inflation cause a number of economies to contract, according to the Centre for Economics and Business Research (Cebr). The global economy surpassed $100 trillion for the first time in 2022 but will stall in 2023 as policy makers continue their fight against soaring prices, the ...

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• 27 December

  Dewa’s hydroelectric power plant in Hatta 60% complete

  

    Dubai / WAM The pumped-storage hydroelectric power plant site that Dewa is building in Hatta is 58.48% complete. This is the first station of its kind in the GCC, with investments of up to AED1.421 billion. The project is planned for completion in Q4 of 2024. The power plant will have a production capacity of 250 megawatts (MW), a ...

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• 27 December

  DLD launches new strategic plan 2026

    Dubai / WAM In line with the adoption of Resolution No. 81 approved by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, approving the organisational structure of Dubai Land Department (DLD), and in line with the strategies drawn by the UAE’s wise leadership for the upcoming development ...

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• 27 December

  Ruler of Sharjah approves AED32.2b budget for 2023

  

    Sharjah / WAM His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, approved the emirate’s general budget for 2023 with total expenditures amounting to nearly AED32.2 billion. The general budget for the year aims to achieve financial sustainability and enhance the economic competitiveness of the emirate. This budget was based on strengthening ...

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• 27 December

  AGMC to establish 117,000 sqft BMW group facility in Sharjah

  

    Sharjah / Gulf Time AGMC, the official importer of BMW group vehicles for Dubai, Sharjah, and the Northern Emirates, expands its footprint in Sharjah as it breaks ground on what will be a 117,000 square foot facility located on Sharjah’s Sheikh Mohammed Bin Zayed Road. As part of AGMC’s network expansion and commitment to accommodate existing and potential clients, ...

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• 27 December

  DFWAC inks cooperation deal with J5 Rimal Hotels

  

    Dubai / WAM The Dubai Foundation for Women and Children (DFWAC) has signed a partnership agreement with J5 Rimal Hotels to boost their cooperation and coordinate their efforts to protect women’s and children’s rights. The agreement was signed by Ibrahim Owghan, Director of Corporate Support, and Kinan Al Ghraoui, CEO, J5 Rimal Hotels, in the presence of senior officials ...

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• 27 December

  Jawhara Jewellery awards diamond sets to 11 winners

  

    Dubai / Gulf Time Jawhara Jewellery, the leading jewellery brand in the region, launched a new promotional campaign under the name of “Jawhara Lucky receipt” in its stores across Dubai. This campaign allows Jawhara Jewellery customers to enter a draw to win a gorgeous set of two pieces from the Vida Diamond Collection with every purchase worth AED500 or ...

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• 27 December

  Sewa obtains ISO certificate in institutional flexibility

    Sharjah / WAM The Sharjah Electricity, Water and Gas Authority (Sewa) announced it has obtained the ISO 22316: 2017 in the field of security system and institutional resilience. The announcement affirms Sharjah Electricity, Water and Gas Authority’s efforts in adopting capabilities and institutional resilience in government work, applying the best institutional practices, and identifying features that support authority in ...

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• 27 December

  Emirates reaffirms its industry-leading safety standards

  

    Dubai / Gulf Time Emirates, the world’s largest passenger airline, has completed its latest IATA Operational Safety Audit (IOSA) with zero findings – the equivalent of a perfect score, and a rare occurrence in the industry given the complexity of airline operations. Sir Tim Clark, President Emirates Airline said: “Safety is one of Emirates’ core values, and since day ...

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• 27 December

  World economy is headed for recession in 2023, says Cebr

  

    Bloomberg The world faces a recession in 2023 higher borrowing costs aimed at tackling inflation cause a number of economies to contract, according to the Centre for Economics and Business Research (CEBR). The global economy surpassed $100 trillion for the first time in 2022 but will stall in 2023 as policy makers continue their fight against soaring prices, the ...

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