March, 2018

• 28 March

  UAE Central Bank: M1 increases to AED509.7 billion

  ABU DHABI / WAM The Central Bank has announced that the Money Supply aggregate M1 increased by 2.3 percent, from AED498 billion at the end of January 2018 to AED509.7 billion at the end of February 2018. In a statement, the bank said, “The Money Supply aggregate M2 increased by 0.6 percent, from AED1277.2 billion at the end of January ...

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• 28 March

  UAE offers AED1.84bn in Yemen aid

  ABU DHABI / WAM The UAE has pledged AED1.84 billion ($500 million), to support the United Nations 2018 Yemen Humanitarian Response Plan (YHRP) which aims to reach more than 13 million underprivileged individuals in Yemen. The move is part of the Saudi-led Arab Coalition to alleviate the suffering of Yemeni people from the Iranian-backed Houthi militias. The coalition has announced ...

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• 28 March

  Mubadala, Taneo to invest $496 million in Greece

  

  DUBAI / Reuters Mubadala Investment Company has signed a deal with Greece’s New Economy Development Fund, known as Taneo, to create a 400 million euro ($496 million) co-investment platform, the Abu Dhabi state fund said on Wednesday. Under the agreement, Taneo and Mubadala will each contribute 200 million euros to invest in businesses with growth potential across key sectors of ...

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• 28 March

  MoE: Share of non-oil sector in GDP to rise to 80 pct by 2021

  Abu Dhabi / WAM The Ministry of Economy is predicting a rise in the share of the non-oil sector in the UAE’s GDP to 80% by 2021, compared to 70 percent in 2017 while stating that the UAE has the most diverse economy in the GCC region. It added that the country’s seven emirates have their own economic priorities, despite ...

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• 28 March

  ‘Huge potential for Emirati exports in China’

  

  Dubai / WAM The Ministry of Economy will organise a promotional seminar during the first International Import Expo which will be held in Shanghai, China, next November, where the UAE will participate through an official and commercial delegation led by the ministry that will include local authorities and major exporters, as well as entrepreneurs who are leaders of small and ...

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• 28 March

  DAE to raise $400mn loan

  

  DUBAI / Reuters Dubai Aerospace Enterprise (DAE), a government-controlled company, is raising a $400 million loan arranged by Ahli Bank of Kuwait, sources familiar with the matter said. DAE has become one of the world’s largest aircraft lessors after acquiring Dublin-based AWAS last year. The acquisition tripled the Dubai aircraft leasing and maintenance company’s portfolio to about 400 aircraft worth ...

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• 28 March

  DP World: Djibouti has not offered to buy Doraleh stake

  DUBAI / Reuters DP World has not received an offer from Djibouti to buy its stake in the Doraleh Container Terminal, a spokesman for the port operator said on Wednesday after a Djiboutian official said the stake could be bought. The DP World spokesman also said the Dubai-owned company would consider it illegal if any company entered into any agreement ...

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• 28 March

  Eight cities to take up challenge for best tech government solutions

  

  Dubai / WAM The UAE Government has launched a global emerging technologies start-up competition, ‘GovHack Series’, in eight major cities around the world. The competition is part of the GovTech Prize, a UAE government initiative that has been running for its sixth year. The GovTech Prize works throughout the year to search for the best tech government solutions developed by ...

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• 28 March

  MoE discusses investment cooperation with Spain

  

  Abu Dhabi / WAM Mohammed Ahmed bin Abdulaziz Al Shehhi, Under-Secretary for Economic Affairs at the Ministry of Economy, met Jose Luis Kaiser, Director-General of the International Trade Office of Spain, and his accompanying delegation, to discuss means of developing the economic, commercial and investment cooperation between the UAE and Spain. During the meeting, which took place at the ministry’s ...

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• 28 March

  UAE and Canada review trade ties

  Dubai / WAM Mohammed Ahmed bin Abdul Aziz Al Shehhi, Under-Secretary for Economic Affairs at the Ministry of Economy, and Timothy Sargent, Deputy Minister for International Trade of Canada, have discussed economic and trade cooperation between the two countries. During a meeting held at the ministry’s headquarters in Dubai in the presence of Emmanuel Kamarianakis, Consul-General of Canada, and a ...

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