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Fuel
prices for September to be announced on Thursday
Gulf News
Abu Dhabi: The UAE Ministry of Energy will announce new fuel prices for the month of September on Thursday. In a tweet, Dr Matar Al Neyadi, Undersecretary
of the Ministry of Energy and Chairman of the Fuel Price Committee, said the fuel prices are likely to be lower for the month of September than the previous month. The fuel price committee will take into account average international prices in deciding the
fuel prices for the following month. The committee will be chaired by the Undersecretary of the Ministry of the Energy. Other members include Undersecretary of the
Ministry of Finance, CEO of Adnoc Distribution, and CEO of Emirates National Oil Company (Enoc).
Newest
Tas-Heel Center opens at Bay Avenue Mall in Business Bay
Zawya
Dubai, Boulevard Businessmen Services LLC, UAE's government and corporate services provider for several international organizations and a strategic
partner of Fortress Capital Investments, a leading investment firm in the Middle East region, today (Wednesday, 26 August 2015) opened a new Tas-Heel Center at Bay Avenue Mall in Business Bay. The inauguration was attended by senior government officials from
UAE Ministry of Labour, General Directorate of Residency and Foreigners Affairs Dubai, Emirates Identity Authority and
e-Dirham.
Banks
in UAE seen chasing more deals as lending margins erode
Gulf News
Abu Dhabi: Increased competition among banks in the United Arab Emirates is eroding margins and pushing lenders in the second-largest Arab economy
to chase more deals, according to First Gulf Bank PJSC. “You have to do more deals, more volume to even stand still,” Steve Perry, head of debt markets and syndications at the UAE’s third-biggest bank, said Wednesday in an interview. “There is a focus on asset
growth within the banking market. Everyone starts challenging for individual deals, and that’s had the effect of driving margins downward.”
GCC
corporate earnings drop 7% on weak oil, strong dollar
Gulf News
Dubai: Many companies in the Gulf Cooperation Council (GCC) region could be feeling the impact of declining oil prices and strengthening of the
US dollar, with overall corporate earnings falling by seven per cent in the first half of the year. The latest report from Kuwait Financial Centre “Markaz” showed that among the hardest hit are businesses in the financial services, construction, commodities
and telecommunications sectors, as well as conglomerates.
Pension
authority issues statement about amendments to retirement and pension laws
The National
The General Pension and Social Security Authority has issued a statement about amendments to retirement and pension laws in light of rumours circulating
online. “Information is circulating online about the new pension laws taken from a link about the new law from our website,” the authority said on Wednesday. “This information contains an abbreviated explanation of the current law issued in 2007. We ask the
general public to verify information before circulating them with no knowledge, to avoid rumours. “Spreading of such rumours is misleading and can have legal repercussions.” The upcoming amendments are expected to be issued in November.
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