Category Archives: Business & Finance

Central Bank pumps AED7.3 bn during March

ABU DHABI, The Central bank of the United Arab Emirates has injected AED7.3 bn in cash to the financial system in March to boost liquidity and compensate banks for the considerable amount of funds withdrawn out of excess liquidity in the market over the recent period.

The move fits within the CBUAE’s mandate to direct the country’s credit policy, and to regulate and oversee the monetary and banking policy, ensuring their alignment with the government’s general plan in a way that ultimately strengthens the domestic economy, assures financial stability, regulate cash flows and withdraw cash surplus in order to retain economic resilience.

Reinjecting more liquidity over the coming period will generate more business momentum, according to analysts.

According to CBUAE figures, the certificates of deposit dropped to AED139.2 bn by the end of March from AED146.5 bn the month earlier.

Over the first two months 0f 2019, a total of AED8.00 bn in cash has been withdrawn from the market after AED12.4 bn was withdrawn in excess liquidity in December 2018.

Source: Emirates News Agency

UAE Iftar programme continuing in world capitals

WORLD CAPITALS, The UAE embassies and consulates in Colombia, Hungary and Pakistan are overseeing the Iftar Programme carried out by the Khalifa Bin Zayed Al Nahyan Foundation, Dubai Charity and Emirates Red Crescent during the Holy Month of Ramadan.

UAE Ambassador to Colombia, Salem Rashid Al Oweis, supervised the distribution of Iftar meals and organisation of Ramadan tents in the capital Bogota and North Santander.

In Hungary, the UAE embassy supervised the Iftar Sa’em Programme funded by Dubai Charity; while in Karachi, the UAE Consulate distributed palm dates and food baskets to a number of mosques and eligible families as part of the Emirates Red Crescent’s Ramadan Programme 1440 H.

The beneficiaries extended thanks to the UAE’s noble gestures and supportive stances.

Source: Emirates News Agency

Hamdan bin Zayed receives winners of ‘Al Dana Internal Excellence Award’

ABU DHABI, H.H. Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region, and Chairman of the Environment Agency � Abu Dhabi, EAD, received the agency’s employees who won the “3rd Al Dana Internal Excellence Award” at the Nakheel Palace.

The award is organised by the agency as part the Abu Dhabi Government’s keenness to motivate government authorities and improve their performance.

Sheikh Hamdan presented shields to the 15 winners, in the presence of Dr. Sheikha Salem Al Dhaheri, Acting Secretary-General of the Authority, and the members of the authority’s executive administration.

Sheikh Hamdan congratulated the winners and praised their efforts, noting that the Agency has many qualified and experienced employees across all departments.

The winners thanked Sheikh Hamdan and affirmed that the award would motivate them to exert greater efforts in their work.

Sheikh Hamdan also received several officials, who congratulated him on the advent of the Holy Month of Ramadan. A number of officials attended the meetings.

Source: Emirates News Agency

UAE provides water cooler for mosques in liberated Yemeni governorates

ADEN, The UAE has started a campaign to install water coolers in 500 mosques of various liberated Yemeni governorates on the occasion of the Holy Month of Ramadan.

Representatives of the Emirates Red Crescent, ERC, in Yemen said that a number of refrigerators and water tanks were installed in mosques in Aden city.

He pointed out that the campaign aims at providing water coolers of various sizes and water tanks with a capacity of 1,000 litres.

Source: Emirates News Agency