News

The Central Bank of the UAE (CBUAE) has decided to raise the Base Rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points – from 5.15 to 5.40 percent, effective from Thursday, 27th July, 2023. This decision was taken following the US Federal Reserve Board’s announcement on 26th …

The Federal Reserve raised interest rates by a quarter of a percentage point on Wednesday, citing still elevated inflation as a rationale for what is now the highest U.S. central bank policy rate in 16 years, Reuters reported. The rate hike, the Fed’s 11th in its last 12 meetings, set …

H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has approved the first batch of 264 scholarships for postgraduate students at the University of Sharjah. These scholarships are awarded to citizens and children of Emirati women in the emirate of Sharjah for the academic …

The World Tennis League (WTL) has signed a joint agreement with Abu Dhabi Sports Council (ADSC), the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), and Miral to host the next three seasons of the tournament on Yas Island. Season 2 of the tournament is scheduled to …

The Public Prosecution refers seven defendants to the court on charges of practicing sorcery acts, as the details of the case go back to a person submitting a petition to the Public Prosecution stating that he became a prey to deception and sorcery. Whereas the defendants practiced these acts, one …

The UAE has expressed its sincere condolences and solidarity with the Republic of Tunisia, over wildfires which resulted in numerous deaths and injuries. In a statement, the Ministry of Foreign Affairs (MoFA) expressed its sincere condolences and sympathy to the Tunisian government and people, and to the families of the …

The UAE has expressed its solidarity with Greece over wildfires caused by a severe heatwave sweeping the country, which have resulted in the death of two people from a crash of a firefighting plane, and the evacuation of thousands of people. In a statement, the Ministry of Foreign Affairs (MoFA) …

The Government of Dubai is actively exploring the application of Common Law within Dubai’s Free Zones to enhance the city’s business environment and boost its economic appeal and efficiency. This potential adoption aligns with Dubai’s progressive approach to cultivating a dynamic, responsive legal framework that caters to investors’ aspirations and …

Under the directives of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, and Chairman of the Board of Trustees of Dubai Future Foundation, the Dubai Assembly for Generative AI is set to take place from 11th to 12th October, …

H.H. Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Deputy Chairman of Sharjah Executive Council (SEC), chaired on Tuesday, SEC’s meeting in the presence of H.H. Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Deputy Chairman of SEC.During the meeting, …