A scenic view of Dubai International Financial Centre.
Inayat-ur-Rahman, Deputy Business Editor
The 49th National Day is a glorious occasion that makes everyone living in the UAE feel proud of the country’s achievements. Wesam Lootah, CEO of the Smart Dubai Government Establishment, told Gulf Today that the UAE National Day is a uniquely special occasion for all of us in the UAE to come together, express our loyalty to our country, and look back with pride and gratitude at the momentous journey our nation has led in its 49 years of existence.
“To say the UAE has made great strides since its inception is an understatement. In less than half a century, the UAE has not only joined the club of developed nations, but has also, on various occasions, exceeded all expectations to establish itself as a world leader in various sectors.”
Marwan Ahmed Al Ali, Director General of Ajman’s Department of Finance, called for everyone to stay united in line with the vision of the founding fathers, saying: “When we celebrate this important occasion, we evoke the spirit of union that brought together the founding fathers based on their belief that making a bright future for their people starts from uniting efforts and mobilizing energies.”
The UAE has become a symbol of prosperity and achievements in the past 49 years. Today the adorable country is celebrating its 49th National Day. Sheikha Hind Bint Majid Al Qasimi, Chairperson of Sharjah Business Women
To mitigate the repercussions of COVID-19 pandemic, the UAE Central Bank (CBUAE) has decided to reduce by half the reserves requirements for demand deposits for all banks, from 14 per cent to 7 per cent.
The number of economic incentives launched by the Federal Government and local governments in the country’s emirates exceeded 100 over 45 days, as per a survey conducted by the Federal Competitiveness and Statistics Authority.
These incentives include providing banking facilities to various economic sectors and small and medium-sized enterprises, SME, in addition to individuals, as well as granting exemptions, postponing dues and opening other related facilities, which will result in positive outcomes during the second quarter of 2020.
The Ajman Chamber of Commerce and Industry (ACCI) organised a brainstorming session under the title “The Year of Preparation for the Fifty”. The session aimed at enhancing the involvement of the Chamber’s employees in proposing ideas,
As of Monday, the total inventory amounted to 21.759 million barrels, 1.8 per cent below that of the previous week.
Brent crude futures climbed 19 cents, or 0.3%, to $56.10 a barrel while US West Texas Intermediate (WTI) crude futures rose 20 cents, or 0.4%, to $52.81 a barrel.
Spot gold was down 0.1% to $1,849.16 per ounce while US gold futures eased 0.2% to $1,847.50.
The UAE has succeeded in providing all public and private services, which greatly contributed to mitigating the expected impact of the pandemic on the real estate sector, thanks to the proactive measures of the government, says Binghatti.