China’s central bank continues to add liquidity via reverse repos

BEIJING, 22nd March, 2023 (WAM) — China’s central bank continued to inject funds into the financial system through open market operations on Wednesday, state news agency Xinhua reported. The People’s Bank of China said on its website that it has conducted 67 billion yuan (about US$9.75 billion) of seven-day reverse repos at an interest rate of 2 percent. The move aims to keep stable liquidity in the banking system, the central bank said. reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future. Rola AlGhoul/ Esraa Esmail

Source: Emirates News Agency

MoFAIC receives credentials copy from new Ethiopian Ambassador to UAE

ABU DHABI, 21st March, 2023 (WAM) — Saif Abdullah Al Shamsi, Assistant Undersecretary for Protocol Affairs at the Ministry of Foreign Affairs and International Cooperation (MoFAIC), has received a copy of the credentials of Oumer Hussien Oba, Ambassador of the Federal Democratic Republic of Ethiopia to the UAE. l Shamsi wished the new ambassador success in performing his duties and enhancing bilateral relations and cooperation between the UAE and his country. The newly appointed Ethiopian Ambassador expressed his pleasure at representing his country in the UAE, which enjoys a prestigious regional and international position under the visionary policy of President His Highness Sheikh Mohamed bin Zayed Al Nahyan. Rola AlGhoul/ Esraa Esmail

Source: Emirates News Agency

Abdullah bin Zayed congratulates Algerian Foreign Minister

ABU DHABI, 21st March, 2023 (WAM) — H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has congratulated Ahmed Attaf on his appointment as the Minister of Foreign Affairs of Algeria. During a phone call, Sheikh Abdullah expressed his wishes of success to Attaf in his new duties, praising the distinguished strategic relations between the two countries. The two ministers discussed the fraternal relations between the two countries. Sheikh Abdullah called on the Algerian Foreign Minister to visit the UAE, expressing his aspiration to promote cooperation relations between the UAE and Algeria across various fields. During the call, Sheikh Abdullah and Attaf also reviewed a number of issues of common interest and the latest regional and international developments. Esraa Esmail/ Rola AlGhoul

Source: Emirates News Agency

UAE President pardons 1025 prisoners ahead of Ramadan

ABU DHABI, 21st March, 2023 (WAM) — President His Highness Sheikh Mohamed bin Zayed Al Nahyan has ordered the release of 1,025 prisoners serving various sentences in the UAE, ahead of the Holy Month of Ramadan. The move comes as part of President Mohamed’s humanitarian initiatives and is reflective of the values of forgiveness and tolerance to give pardoned inmates an opportunity to start a new life and ease the suffering of their families. Sheikh Mohamed’s annual pardon ahead of the month of Ramadan aims to enhance family cohesion, brings about happiness to mothers and children and provides released prisoners with an opportunity to re-think their future and return to the righteous path that allows them to lead a successful social and professional life. Esraa Esmail/ Rola AlGhoul

Source: Emirates News Agency

ERC distributes 10,000 school bags to Syrian children

LATAKIA, 21st March, 2023 (WAM) — The Emirates Red Crescent (ERC) distributed around 1,500 school bags and stationery to Syrian students in the Latakia Governorate, one of the areas affected by the recent earthquake that hit the country. The aid is the first phase of an initiative to distribute more than 10,000 school bags and stationery to several Syrian governorates. It is part of the UAE’s ongoing humanitarian and relief efforts. The distribution of aid included the students of the Martyr Shaaban Ali Ahmed School, part of the Latakia Education Department. The students highlighted their happiness at receiving school bags and stationery and thanked the UAE’s leadership, government and people. In her statement to the Emirates News Agency (WAM), Rasha Abdullah Ahmed, Assistant Director for Education at the Latakia Education Department, commended the UAE’s leadership and people their support of Syrians through the current crisis. Majd Mohammed Ali, Principal of the Martyr Shaaban Ali Ahmed School, said local education has returned to 55 percent capacity. He noted that students are now being rehabilitated following the recent earthquake that hit Syria. He also pointed out that the presence of the Emirati delegation has helped Syrian schools return to normalcy. Syrian Grade 8 student, Sarah, thanked the UAE, while a Syrian girl, Mariam Nidaa Saleh, wrote a poem, titled “Thank you”, dedicated to the Emirati delegation. Dr. Mohammed Al Junaibi, ERC Representative in Syria, said that the ERC would continue supporting those affected by the recent earthquake in cooperation with Syria’s Ministry of Education.

Source: Emirates News Agency

Three winning ideas awarded for DCD’s Social Innovation Competition

ABU DHABI, 21st March, 2023 (WAM) — Three winning ideas were honoured at the Award Day for the Department of Community Development’s (DCD) social innovation competition, UNIVATE. The goal of UNIVATE, held in collaboration with the Authority of Social Contribution – Ma’an, is to spread awareness about social challenges in Abu Dhabi, improve the well-being and quality of life of the people who live in the Emirate, and promote the building of a multi-cultural, cohesive community that embraces diversity. UNIVATE received 47 submissions from over 90 students in Abu Dhabi’s leading higher education institutions, such as Zayed University, Higher Colleges of Technology, Khalifa University, New York University Abu Dhabi, and Sorbonne University Abu Dhabi. The first-place winner was a concept called Makan, by Khawla Abdullatif Alhammadi, which proposed an app that allows guests to book stays at traditional Emirati homes and farms. The app would offer residents and tourists the chance to smoothly book an authentic and educational experience and facilitate the process for Emiratis who are keen to share their culture and homes. In second place was the idea for an app called Dhabyani – by Mahreen Munir, Gabriel Xavier Basques Soares, and Aisha Omar Salim Lihwaidi Al Ali, who proposed a friend matching algorithm to connect potential friends and assign them a local volunteering event to attend together. Their target audience is Abu Dhabi students aged between 17 22, who are looking to meet friends from various cultures, engage with the community, and help others while doing so. The third-place winner was the idea for the Community Mentorship Programme by Ayah Mohamad Miqdady, which would connect residents who are familiar with Abu Dhabi with new expats with the aim of offering guidance and support in the form of practical advice about finding housing and enrolling in schools, in addition to emotional support and guidance on cultural customs and expectations. “At the DCD, we have been impressed by the creativity that the participating students have shown through the UNIVATE contest, and we are very proud of the profound innovative thinking skills which the students were able to demonstrate during the proposals presentation day” said Shaikha Alhosani, Executive Director of the Social Monitoring and Innovation Sector at DCD. “The three winning ideas all focus on social connection and the strengthening of ties -among the diverse communities that live in Abu Dhabi. These students have tapped into and understood the DCD’s goals which are to uplift community cohesion and provide a dignified life for everyone who lives in Abu Dhabi. We’re eager to explore how these brilliant ideas can be implemented by the DCD for the benefit of all those who live in the Emirate.” The winning individuals and teams received in-kind monetary rewards, and the winners’ solutions will be implemented by the DCD or its partners, in collaboration with relevant stakeholders.

Source: Emirates News Agency