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UAE banks lead Gulf peers with $748bn assets in H1 - Dotemirates

UAE banks lead Gulf peers with $748bn assets in H1

Abu Dhabi / WAM The UAE banking sector has continued to top other GCC counterparts in terms of assets value during H1 2018, with a total value of AED2.7 trillion ($748 billion), a growth of2 percent compared to the end of 2017.According to industry experts, the UAE banking sector’s leading edge corroborates the robust financial solvency it enjoys given the open financial and economic policy being adopted by the country, which resulted in encouraging many international financial institutions to invest in this sector.The Saudi banking sector came second with a total asset value of $617 billion in H1 2018 followed...


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UAE News

08/04/2019

Dh5 taxi flag down rate for passengers arriving through Dubai's Al Maktoum International Airport

RTA's Dubai Taxi Corporation (DTC) announced a discount in taxi flag down rate for passengers arriving through Al Maktoum International Airport (DWC). The rate will go down by 75 per cent for 45 days from April 16 to May 30, 2019. The step coincides with the upgrading of the southern runway of Dubai International (DXB) Airport, which will be closed for 45 days for a full renovation of the runway. Accordingly, part of the flights will be diverted to Al Maktoum International Airport (DWC). "Lifting passengers from Al Maktoum International Airport (DWC) has become faster and cheaper now. The flag...
08/04/2019

Pupils' space projects seek to solve planet's complex problems

UAE students are hoping to make breakthrough scientific discoveries by sending their experiments to space, including finding new ways of producing oxygen and fighting global warming by reducing chemicals in our food. The initiative is part of the 'Science in Space' contest by the Mohammed Bin Rashid Space Centre (MBRSC), in which 15 public and private schools will be selected to send their science experiments to the International Space Station (ISS). The UAE's first astronaut will conduct the experiment while he is there for his eight-day trip, set to start on September 25. The projects should include the effect of...
08/04/2019

Parents cry foul over Dubai school's overpriced books

Parents of Indian High School (IHS) students in Dubai are complaining of the "exorbitant prices" of their kids' textbooks and notebooks. Nearly 50 parents of pupils across various grades gathered at the school campus on Sunday, requesting the school's management to cut the prices, which range from Dh650 to Dh1,300, approximately.  School authorities told Khaleej Times that they are looking into the parents' grievances and noted that they are allowed to buy books from other vendors.  Ashok Kumar, CEO of IHS, said in a statement: "The prices have been fixed as per the guidelines provided by the Ministry of Education...

08/04/2019

Indian who bought raffle ticket over 100 times wins Dh10m on his birthday

Four days after he won Dh10 million at the Big Ticket raffle in Abu Dhabi, Indian expat Ravindra Boloor has finally spoken up about the massive windfall. Also read: Indian expat wins Dh10 million in Big Ticket Abu Dhabi raffle Boloor had been unreachable on both his UAE and India numbers since he was announced the winner of the bumper prize. This spawned the hashtag #FindRavi after Richard, the man who conducts the raffle at Abu Dhabi airport, made a special appeal to find out Ravi's whereabouts. According to earlier reports in Khaleej Times, his friends and family in the...
07/04/2019

Over 10k turn up for 3-day Dubai tolerance convention

Over 10,000 people of all faiths and nationalities came together for the three-day Al Manar International Tolerance Convention that ended last weekend.  Muslim scholars and preachers from around the world - including Mufti Ismail Menk from Zimbabwe; Sheikh Assim Al Hakim of Saudi Arabia; Sheikh Said Rajeh of Canada; and Abdur Raheem Green of the UK - filled the Dubai World Trade Centre with messages of love, peace and harmony, inspiring the huge crowd of people who turned up for the event. It was a gathering that was held under the patronage of Sheikha Hind bint Maktoum bin Juma Al...
07/04/2019

Investor jailed for forging files to get Dh262k loan in Dubai

An investor, who tried to obtain a Dh262,000 bank loan using forged documents, was recently sentenced to three months in jail by a Dubai court. Prosecutors accused the 41-year-old Pakistani man of forging documents - including a salary certificate, salary statement and a labour card - to apply for a bank loan. He has an accomplice who remains at large. He denied charges of forgery, use of fake documents and fraud attempt, but the Dubai Court of First Instance found him guilty and ordered his deportation after he completed his jail term. The court also ordered the confiscation of the...