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COP28 launches ‘The COP Presidencies Troika’ in partnership with COP29, COP30 Presidencies

COP28 today launched a partnership with Azerbaijan and Brazil, who will host COP29 and COP30, respectively, to improve cooperation and continuity between current and future COP Presidencies, leading to increased climate action in support of “Mission 1.5°C”. The partnership, known as The COP Presidencies Troika, marks the first time that …

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UAE is committed to working with OPEC+ on decisions to ensure global oil market stability: Suhail Al Mazrouei

Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, said that the Ministry is currently working on upgrading the UAE’s electric vehicle (EV) system by adding new stations and concluding more partnerships with major global companies to turbocharge the sector’s growth. “This will increase the number of EVs used …

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GPSSA issues circular regarding deducting debts from pension, end-of-service gratuity

The General Pension and Social Security Authority (GPSSA) has issued a circular to government and private sector employers, detailing the regulations for pension deductions and end-of-service gratuity in line with Federal Decree Law No. 57 of 2023. The circular included limiting the procedure of deduction from the pension or end-of-service …

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UAE Exchange Houses are expected to raise remittance fees by 15% for the first time in five years

The Foreign Exchange and Remittance Group (FERG) announces that exchange houses under the jurisdiction of UAE authorities have received approval to implement an optional strategic fee adjustment, allowing for a minimum increase of 15% which typically equates to 2.50 dirhams. This marks the first fee adjustment in five years, the …

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