1,652 individuals had fully recovered from COVID-19 ABU DHABI- The Ministry of Health and Prevention (MoHAP) announced that it conducted 205,321 additional COVID-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement, the Ministry...

Emirate gets 'BBB-' and 'A-3' ratings for long, short-term credit S&P Global Ratings has affirmed its “BBB-“ long-term sovereign credit rating with a stable outlook for Sharjah. The rating is based on S&P’s expectation that despite the emirate’s large fiscal deficits, the...

Extension will enable banks to provide temporary relief to struggling borrowers The UAE Central Bank has enabled financial institutions to continue extending relief support to businesses and individuals impacted by the coronavirus pandemic until next year. In a statement on...

UAE Trade Connect says losses through duplicated invoices could be between AED500mln and 1bln annually A new blockchain technology which could prevent losses in trade finance of up to 1 billion dirhams annually has gone live in the UAE. The new platform has the capability to...

Abu Dhabi-based airline latest to announce start of trials Two of the UAE’s major airlines, Etihad and Emirates are now testing the IATA Travel Pass, an app-based passport that seeks to simplify air travel during pandemic times. Etihad has just announced that passengers...

The UAE government has issued a strict warning for non-vaccinated people in the Emirates. The health authorities said, “Strict measures are being considered to restrict the movement of unvaccinated individuals and to implement preventive measures such as restricting entry to some...

1,503 individuals had fully recovered from COVID-19 ABU DHABI- The Ministry of Health and Prevention (MoHAP) announced that it conducted 203,347 additional COVID-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement, the Ministry...

TESS did not reduce credit risk on the banking system's balance sheet S&P Global Ratings has classified the UAE’s banking sector in group '5' under its Banking Industry Country Risk Assessment (BICRA). After the pandemic started, the UAE Central Bank (CBUAE) implemented a...

The Dubai Police maritime rescue patrols have recently rescued six Asian sailors, and prevented their dhow from sinking in Dubai Creek. According to Lieutenant Colonel Ali Abdullah Al Naqbi, Head of the Maritime Rescue Department at the Ports Police Station, water leaked into the dhow...

The residential VPI showed an average quarterly improvement of 0.8% The residential capital values in Dubai for the first three months of 2021 registered a 11 per cent drop compared to the previous year, standing at 61.9 points, according to leading UAE-based local consulting firm...