Day: June 22, 2021

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UAE about to begin crucial phase of history: Zaki Nusseibeh

ABU DHABI, Zaki Anwar Nusseibeh, Cultural Advisor to the UAE President, stated that the UAE is about to begin a crucial phase of its history, with the approach of its Golden Jubilee.

Despite its many achievements in various areas of development, the UAE has demonstrated, at every occasion, that the legacy of the late Sheikh Zayed bin Sultan Al Nahyan in supporting and empowering the country’s citizens and residents, improving living standards, creating opportunities and instilling the values of tolerance and coexistence will remain the foundations that it aims to promote and maintain, he added.

In an exclusive interview with the Emirates News Agency (WAM), Nusseibeh affirmed that the country recently witnessed key achievements that have enhanced its global stature, most notably in the space and clean energy sector, which are shaping the future to come.

“The UAE is continuing its pioneering development efforts, which are clearly reflected in international competitiveness indexes, in addition to strengthening its political, cultural and humanitarian presence,” he said.

He then stated that the country will keep working, led by the directives of its leadership, to preserve the foundations established by the Founding Fathers, most notably prioritising people, making them happy, providing decent living standards, ensuring a bright future for generations to come, and, most importantly, achieving the ultimate goal of making the UAE one of the best countries in the world.

The UAE has welcomed people from all nationalities to benefit from the opportunities it offers and has drafted a series of policies and laws that protect everyone’s rights and make them happy, he further added, noting their positive cultural and social outcomes.

Despite his achievements, Sheikh Zayed remained loyal to his nomadic nature by cherishing and preserving the customs and traditions of his local community, which shaped an essential part of his personality, Nusseibeh further added.

“His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, have exerted significant efforts to achieve cultural and academic development and promote research and innovation, in light of their strong belief in the youth of the country and their ability to lead the future over the next 50 years,” he said in conclusion.

Source: Emirates News Agency

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Upbeat sentiments continue to drive UAE stocks

ABU DHABI, The Abu Dhabi and Dubai main share indexes remained in the positive territory Tuesday, and climbed 0.53 percent and 0.29 percent respectively, driven by banking and realty blue chips.

At Abu Dhabi Securities Exchange, the International Holding Company (IHC) continued to surge to AED97.10, with the country’s largest lender FAB closing at AED16.58. Etisalat also rose to AED22.22 and Aldar Properties to AED3.82.

At Dubai Financial Market, Emaar Properties led the best performing shares at the DFM, rising to AED4.17, with the emirate’s largest lender Emirates NBD Bank rising to AED13.90.

A total of AED1.235 bn in deals were conducted in ADX while DFM saw AED212 million in deals.

Source: Emirates News Agency

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Dubai repays US$500 mn bond certificates

DUBAI, The Government of Dubai, acting through the Department of Finance (DoF), announced that the US$500 million Fixed Rate Note issued on 22 June 2011 under its Euro Medium Term Note Programme, reached maturity on 22 June 2021.

Upon maturity, all the notes have been redeemed in full by making the required payment through the paying agent to the holders of the notes, along with accrued interest.

Abdulrahman Saleh Al Saleh, Director General of DoF, said: “The Government of Dubai’s ability to fulfill its financial obligations reflects its deep fiscal stability amidst the circumstances imposed by the current global crisis. The government’s solvency has allowed it to fulfill its past and current obligations and will continue to enable it to meet all future obligations on time.”

“We have been successful in overcoming the most challenging repercussions of the global pandemic, and have now entered a solid phase of recovery, thanks to the measures taken by the government to ensure rational prioritised spending, under the directives of our leadership,” Al Saleh added.

Source: Emirates News Agency

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Deadline for providing ‘Beneficial Owner’ data extended to 30 June, says Dubai Economy

DUBAI, The last day for all registered businesses in Dubai to add their Beneficial Owner data to the commercial registry has now been extended to the 30th of June 2021, Dubai Economy informed today. Dubai Economy also urged businesses to provide the Beneficial Owner data as required by the UAE Cabinet Decision No. (58) of 2020 within the new deadline to avoid any legal consequences.

Registered businesses in Dubai can add the Beneficial Owner data by logging in to the eServices page of Dubai Economy on

https://eservices.dubaided.gov.ae/BeneficiaryOwner ‘Beneficial Owner’ refers to those individuals/entities that benefit from owning a registered business. The Cabinet Decision No. (58) of 2020 requires all registered businesses in the UAE to reveal the identity and furnish details of their Beneficial Owner to be included in the commercial registry as part of enhancing corporate compliance in the country in line with international best practices.

The Beneficial Owner data required include name, nationality, gender, passport number, residence address and mobile number. All registered businesses in Dubai must register their Beneficial Owner data irrespective of their category (e.g. Commercial, Professional or Industrial) or legal form.

Customers logging in to the Dubai Economy eServices page can click on the Add / Modify the Beneficial Owner button. The customer will then be transferred to another screen to enter the Beneficial Owner data.

Any customer performing a business registration and licensing transaction at Dubai Economy is automatically alerted on the Beneficial Owner data via text message before a payment voucher for the transaction is issued. The customer can then click on the link provided in the text message and enter the Beneficial Owner data. Business owners requesting Auto Renewal of their licences via text message to ‘6969’ also receive the link to the Beneficial Owner registration.

Source: Emirates News Agency