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A delegation of the Khalifa bin Zayed Al Nahyan Foundation, in collaboration with the UAE Embassy in Beirut, has provided vouchers to 35,600 families in Northern Lebanon, as part of the UAE’s endless efforts to support friendly countries. An official from the foundation stated that the humanitarian initiative was launched upon the directives of the UAE’s leadership, to help the Lebanese people overcome their dire economic conditions. The official added that after consultations with the UAE Embassy in Beirut, the foundation decided to provide vouchers instead of food parcels, to enable beneficiaries to choose their preferred food supplies.Fahad Al Kaabi,…
The European Championship game between Denmark and Finland was halted briefly on Saturday after Christian Eriksen required urgent medical attention on the field near the end of the first half. He was given treatment for about ten minutes after collapsing on the field itself before being carried off on a stretcher. Eriksen was transferred to the hospital and has been stabilized according to his manager and a tweet by UEFA on Christian Eriksen’s condition. UEFA then announced the game had been suspended due to a medical emergency.Eriksen had just played a short pass when he fell flat out, face-forward onto…
The Central Bank of the UAE (CBUAE) has signed a Memorandum of Understanding (MoU) with the Central Bank of Egypt (CBE) to strengthen supervisory cooperation. The MoU outlines the mechanisms of information exchange to facilitate the performance of their supervisory and financial stability mandates.The MoU establishes the cooperation mechanisms on licensing, the ownership structure of Licensed Financial Institutions (LFIs), authorization of acquisitions, examinations of LFIs, information exchange and the necessary approvals for licensing requests. Central banks will inform each other of any significant changes in the regulatory requirements of their jurisdictions.The banks have also agreed to cooperate in executing their…
Shayne Nelson, Group CEO of Emirates NBD, rang the market-opening bell at Nasdaq Dubai to celebrate the listing of a US$750 million bond. The listing of this additional Tier 1 Capital bond reinforces Emirates NBD’s position as the largest financial services bond issuer on Nasdaq Dubai through seven listings with a total value of US$5.1 billion.The US$750 million perpetual bond pays a coupon of 4.25 percent, the lowest pricing for a conventional Tier 1 bond from the UAE, and the second lowest from the Middle East. The issuance was 2.3 times oversubscribed with a strong demand from the region. 64…
H.H. Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region, and Chairman of the Board of Directors of the Environment Agency – Abu Dhabi (EAD), has launched the largest coral reef rehabilitation project in the region, including more than one million colonies of coral reef through a replanting program, with the aim of increasing the emirate’s total coral reef area. The launch coincides with the World Oceans Day, which falls on June 8 of each year, and comes within the framework of a comprehensive plan developed by the Agency to preserve this important ecosystem and ensure its…
Etihad Airways, the national airline of the UAE, will launch seasonal flights to Greece’s most popular islands, Mykonos and Santorini, and the famous southern Spanish city of Malaga in Andalusia. Mykonos will operate between 8 July and 11 September 2021 and Santorini between 9 July and 12 September 2021. Both destinations will benefit from a twice weekly direct service on an Airbus A320.With a safe travel corridor established between the UAE and Greece, fully vaccinated individuals now have more opportunities to enjoy quarantine free travel. Travelers can enjoy Mykonos’ Mediterranean cuisine or admire Santorini’s unique architecture. Just over four hours…
Al Maryah Community Bank, UAE’s first fully integrated digital bank, has announced the completion of its pragmatic architectural design of technology platform which is infused with an artificial intelligence capability that will lead to the complete transformation of digital banking, dispensing maximum customer satisfaction.Mohammed Wassim Khayata, CEO, Al Maryah Community Bank, said, “After extensive research of the available technologies in the market, we zeroed into this state-of-the-art turnkey solution which will transform and amplify the power of digital banking and help maximize digital customer service. We are also excited to share that we have successfully implemented and tested the first…
Flydubai, the Dubai-based airline, has announced the resumption of its operations to Naples in Italy. The three weekly flights to Naples International Airport (NAP) will commence on 1st July. From 2nd June, a quarantine-free travel corridor has been established between Italy and the UAE enabling passengers to travel between the two countries with less restrictions. A negative COVID-19 test result will be required 48 hours before departure from the UAE. On arrival in Italy, all passengers over the age of two years will be required to take a rapid antigen test. The safe travel corridor with Italy is the latest in…
The UAE Minister of Economy, Abdullah bin Touq Al Marri, and Luxembourg’s Minister of Economy, Franz Fayot, have discussed means to promote economic and investment relations between the UAE and Luxembourg to achieve the common interests of both countries.In a meeting, attended by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Dr. Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and SMEs, the two sides agreed to establish a joint economic committee and hold its first session on the sidelines of the Expo 2020 Dubai.The committee aims to create new and diverse opportunities for…
The heads of the world’s predominant global financing, health and trade agencies have united to urge government leaders to urgently finance a new $50 billion roadmap to accelerate the equitable distribution of health tools to help end the pandemic that has devastated lives and livelihoods for 18 months and also set the foundations for a truly global recovery, as well as enhanced health security.In a statement, the leaders of the International Monetary Fund (IMF), World Bank Group (WBG), World Health Organisation (WHO) and World Trade Organisation (WTO) [Kristalina Georgieva, Tedros Adhanom Ghebreyesus, David Malpass and Ngozi Okonjo-Iweala] said governments must…