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Saudi Citizen Sentenced To Seven Years In Kuwait For Forging Citizenship To Join Defence Ministry
Saudi Citizen Sentenced To Seven Years In Kuwait For Forging Citizenship To Join Defence Ministry

Gulf Insider

time2 days ago

  • Gulf Insider

Saudi Citizen Sentenced To Seven Years In Kuwait For Forging Citizenship To Join Defence Ministry

A Saudi citizen has been sentenced to seven years in prison with hard labour and fined 336,000 Kuwaiti dinars (Dh4 million) by a Kuwaiti criminal court for forging a naturalization application that enabled him to unlawfully obtain Kuwaiti citizenship and secure a position in the Ministry of Defence. The man, whose identity was not disclosed, falsely claimed to be the biological son of a Kuwaiti citizen, who was also convicted in the case. This deception allowed him to receive Kuwaiti nationality and later be appointed as a sergeant in the Defense Ministry. The court described the act as a serious breach of public trust and national integrity. He was arrested at the Salmi border crossing while attempting to flee the country. Kuwaiti authorities found both a Saudi ID and a Kuwaiti civil ID in his possession. Investigations later revealed that he was trying to escape mounting financial obligations and unpaid bank loans. In addition to the main defendant, the court also handed down a seven-year sentence to the Kuwaiti citizen who aided in the scheme, as well as to the Saudi man's biological father, who was found complicit in the forged claim. In its ruling, the court said the defendants committed a blatant attack on national identity and tampered with official documents in a way that undermines state sovereignty.

Etihad Credit Insurance announces Dh174 million funding for SME growth in partnership with four leading banks
Etihad Credit Insurance announces Dh174 million funding for SME growth in partnership with four leading banks

Al Etihad

time25-06-2025

  • Business
  • Al Etihad

Etihad Credit Insurance announces Dh174 million funding for SME growth in partnership with four leading banks

25 June 2025 19:03 DUBAI (WAM)Etihad Credit Insurance (ECI), the UAE's federal export credit company, announced the impact of its 'Xport Xponential' programme, which has helped raise Dh174 million in funding to support the growth of SMEs, during the closing ceremony of the working capital was raised with the support of four of ECI's banking partners: First Abu Dhabi Bank, Commercial Bank of Dubai, Ajman Bank, and Al Maryah Community Bank. ECI also remains committed to securing similar funding and capital for SMEs in collaboration with its other banking programme's closing ceremony was held under the patronage of Abdulla Bin Touq Al Marri, the Minister of Economy and Chairman of the Board of Directors of Etihad Credit Insurance. The event aligns with the Ministry's mission to develop a flexible future economy and robust entrepreneurial ecosystem by facilitating investment and talent Touq stated, 'The 'Xport Xponential' programme plays a pivotal role in advancing the UAE's ongoing efforts to increase the contribution of small and medium-sized enterprises to the country's non-oil GDP. It also directly supports the objectives of the 'We the UAE 2031' national strategy, which aims to increase non-oil exports to Dh800 billion and expand foreign trade volume to Dh4 trillion by the next with export and re-export activities between the UAE and countries with which we have Comprehensive Economic Partnership Agreements (CEPA), already exceeding Dh390.5 billion, the initiative leverages existing trade momentum to help SMEs unlock the untapped potential of these markets, particularly as the UAE continues to expand its economic and trade partnerships with key strategic markets worldwide.'CEO of Etihad Credit Insurance, Raja Al Mazrouei, highlighted ECI's role in empowering UAE-based businesses to compete on a global level. She stated that 'Xport Xponential' serves as a dynamic platform for local businesses and potential importers to connect. Al Mazrouei further stated that the programme identifies high-potential export markets for a wide range of products, allowing small businesses to expand globally with greater ease and added, 'ECI's 'Xport Xponential' programme aligns with the UAE's strategic vision to diversify its revenue sources away from oil. It offers integrated financial and insurance solutions, particularly to SMEs, enabling them to scale internationally, while mitigating major export-related risks.'Group Head of Personal, Business, Wealth, and Privileged Client Banking Group at First Abu Dhabi Bank (FAB), Futoon Hamdan AlMazrouei, said, 'First Abu Dhabi Bank is pleased to be a banking partner of 'ECI's Xport Xponential programme,' an initiative that reflects the UAE's strategic vision for economic diversification and sustainable growth. We are strongly aligned with the Ministry of Economy's mission to foster a flexible, future-ready economy and a vibrant entrepreneurial ecosystem by enabling investment and attracting top talent. By empowering SMEs with access to working capital and innovative trade finance solutions, we are unlocking new opportunities for global growth. The programme strengthens the UAE's competitiveness and supports its ambition to expand trade across strategic international markets.'On the collaboration, CEO of Commercial Bank of Dubai, Dr. Bernd van Linder, stated, 'Commercial Bank of Dubai is proud to be a foundational partner in ECI's Xport Xponential programme. With a legacy of over five decades in backing the growth of the UAE, we continue to demonstrate our commitment today by empowering the nation's vibrant SME sector and creating tangible impact that supports the economic diversification and global competitiveness of the UAE. We look forward to continuing our work with ECI to unlock even greater opportunities for businesses across the Emirates, building on the significant momentum already achieved.'CEO of Ajman Bank, Mustafa Al Khalfawi, said, 'We are proud to be part of the 'Xport Xponential' programme in collaboration with Etihad Credit Insurance, which represents a significant milestone in empowering SMEs to access new growth frontiers. Our participation reflects Ajman Bank's unwavering commitment to supporting the UAE's national agenda, particularly Ajman Vision 2030 and We the UAE 2031, by providing Sharia-compliant financing solutions that enable local businesses to scale internationally. The Dh174 million in funding collectively raised through this initiative is a powerful testament to the strength of public-private sector collaboration. We will continue to build on this momentum by enabling innovative trade finance and expanding our role as a catalyst for sustainable economic development.'CEO of Al Maryah Community Bank, Mohammed Wassim Khayata, commented, 'We are proud to partner with Etihad Credit Insurance on the 'Xport Xponential' programme, which represents a significant milestone in empowering the UAE's SMEs to access global markets with confidence. At Al Maryah Community Bank, we are committed to offering fully digital, fast, and innovative financing solutions that simplify exporters' daily operations and enhance their global initiative not only aligns with the UAE's vision to diversify its economy and boost non-oil exports but also opens new opportunities for local businesses in vital sectors to thrive internationally. We look forward to continuing our collaboration with ECI to ensure that manufacturers and exporters are equipped with the tools, knowledge, and capital they need to scale beyond borders.'The 'Xport Xponential' programme was launched to fulfil the dual objectives of catalysing SMEs' global expansion and driving SME financing with the help of partner banks. It was introduced during the third edition of 'Make It in the Emirates' (MIITE), held in May 2024, with the aim of accelerating the global expansion of UAE-based SMEs by offering financial support and ensuring their export readiness through innovative trade finance and credit insurance many as 42 companies applied for the programme, out of which 10 were shortlisted based on rigorous evaluation criteria. These companies have collectively generated Dh2.1 billion in turnover to date and are now targeting expansion into four key markets—Indonesia, India, Saudi Arabia, and Oman—with a combined export potential of Dh31.3 billion over the next four years across ten vital in collaboration with 19 strategic partners, the programme exemplifies ECI's role in driving sustainable economic growth by connecting businesses with international opportunities and tailored trade finance the programme's inception, ECI's partnerships with government entities and banks have increased by 27 percent, reflecting its role in nurturing a robust export-enablement ecosystem that connects the public and private sectors under a unified with leading financial institutions have helped facilitate consistent, reliable support and access to growth-oriented funding for UAE SMEs. ECI also hosted a workshop in January 2025 to offer the selected companies' essential tools and resources, further supporting their export growth journey. In addition, these companies belong to diverse economic sectors, showcasing the programme's wide-reaching impact across key Xponential's vast partner list features 19 key strategic partners, including both federal and local entities, which are: the Abu Dhabi Department of Economic Development, Khalifa Fund for Enterprise Development, Dubai Department of Economy and Tourism, Dubai Airport Free Zone, Sharjah Chamber of Commerce and Industry, Ajman Department of Economic Development, Ras Al Khaimah Economic Zones, as well as Fujairah Department of Industry and financial and banking partners include Emirates Development Bank, Abu Dhabi Commercial Bank, First Abu Dhabi Bank, Commercial Bank of Dubai, Ajman Bank, RAKBANK, National Bank of Fujairah, International Development Bank, Wio Bank, Al Maryah Community Bank and Reem Finance. It is also worth noting that since its inception, ECI has insured Dh21 billion in support of local exports and completed underwriting for premiums totalling Dh447 million.

Mohammed bin Rashid: Goal to grow UAE non-oil foreign trade to Dh4 trillion will be achieved within two years
Mohammed bin Rashid: Goal to grow UAE non-oil foreign trade to Dh4 trillion will be achieved within two years

Al Etihad

time15-06-2025

  • Business
  • Al Etihad

Mohammed bin Rashid: Goal to grow UAE non-oil foreign trade to Dh4 trillion will be achieved within two years

15 June 2025 21:12 DUBAI (WAM)His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, affirmed that the UAE, under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, continues its remarkable progress across all sectors, with the nation's booming non-oil foreign trade at the heart of this growth, achieving consistent record-breaking growth for several Highness Sheikh Mohammed bin Rashid said: 'The UAE's non-oil foreign trade saw growth of 18.6% year-on-year in the first quarter of this year, reaching Dh835 billion (global average is 2-3%). The nation's non-oil exports experienced exceptional growth, surging by 41% annually."His Highness stated: 'Our goal to grow non-oil foreign trade to Dh4 trillion by 2031 will be achieved within the next two years; four years ahead of schedule. "In 2024, GDP grew by 4%, reaching Dh1.77 trillion, with the non-oil sector contributing 75.5% to the national economy.'His Highness Sheikh Mohammed bin Rashid emphasized: 'Under the leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, the UAE's economic growth is achieving unprecedented success. Indicators of social, economic, and strategic stability and prosperity are at their highest historical levels. We are confident in an even brighter future, driven by the focused efforts of thousands of dedicated teams working to realize the UAE's global ambitions.'The UAE's non-oil foreign trade continued an upward trajectory in Q1 2025 (1 January to 31 March 2025), reaching Dh835 billion, an 18.6% increase compared to Q1 non-oil exports continued to achieve historical growth rates, recording Dh177.3 billion in Q1 2025, a 40.7% year-on-year increase (compared to Q1 2024) and a 15.7% quarter-on-quarter increase (compared to Q4 2024).This robust growth propelled non-oil exports to over 21% of the UAE's total non-oil foreign trade for the first time in the nation's history, outpacing the growth of both imports and saw a 6% annual increase, reaching Dh189.1 billion. Imports grew by 17.2% year-on-year, reaching Dh468.6 billion, but experienced a slight 1.7% decline compared to the previous quarter (Q4 of 2024).Trade with the UAE's top 10 trading partners continued to expand, growing by 20.2% in Q1 2025, compared to 16.9% growth with other countries. Trade grew with India by 31%, with Saudi Arabia by more than double at 127%, with Turkiye by 8.3% - surpassing previous records - and with China by 9.6%.

Israel strikes Iran: Gold prices in dubai see 2nd-highest surge of 2025, check latest rates
Israel strikes Iran: Gold prices in dubai see 2nd-highest surge of 2025, check latest rates

Time of India

time13-06-2025

  • Business
  • Time of India

Israel strikes Iran: Gold prices in dubai see 2nd-highest surge of 2025, check latest rates

Dubai gold prices see second-biggest 2025 surge, following the record high of Dh420/gram earlier this year amid the global tariff war. (File) Gold prices in Dubai rose sharply on Friday as escalating tensions between Israel and Iran pushed investors toward traditional safe-haven assets. The 24-karat gold variant jumped by Dh4 (approximately $1.09) per gram, reaching Dh412.75 (around $112.84) per gram, inching closer to its all-time high of Dh420 (about $114.84) per gram set earlier this year. The spike reflects a broader global trend of market volatility, where geopolitical uncertainties, such as the latest airstrikes in the Middle East, have renewed demand for stable investment options like gold. Updated Dubai Gold Prices (as of Friday, June 13, 2025): 24K gold: Dh412.75 ($112.84) per gram (up from Dh408.75 [$111.74] the day before) 22K gold: Dh382.25 ($104.55) per gram 21K gold: Dh366.50 ($99.80) per gram 18K gold: Dh314.00 ($85.86) per gram This marks an increase of Dh14 (approx. $3.83) per gram for 24K gold in just the past three days, making it one of the most notable short-term surges this year. Meanwhile, spot gold was trading at $3,415.73 per ounce, up 1.07%, hitting its highest level in nearly two months. What's Driving the Surge? "This latest spike in hostilities in the Middle East has taken the focus off trade negotiations for now, with investors making a play towards safe-haven assets in response," said Tim Waterer, Chief Market Analyst at KCM Trade. "Gold surged past resistance around $3,400 on news of the airstrikes, and further upside could be in-store should the escalation continue." He added. Earlier this year, 24K gold had touched a record high of Dh420 ($114.84) per gram, driven by a combination of factors including: The global tariff war A weakening US dollar Heightened geopolitical tensions Impact on Consumers in the UAE The recent price jump could affect the spending habits of UAE residents, particularly those planning to purchase gold jewellery ahead of summer travel. It's common for expatriates to buy gold as gifts for family when visiting their home countries, but rising prices may now force a rethink. This trend may continue if geopolitical risks remain elevated, with analysts eyeing further upward pressure should instability in the region deepen.

National Multiple Sclerosis Society reveals 2024-2025 research grant recipients, driving innovation in care and treatment
National Multiple Sclerosis Society reveals 2024-2025 research grant recipients, driving innovation in care and treatment

Al Etihad

time19-05-2025

  • Health
  • Al Etihad

National Multiple Sclerosis Society reveals 2024-2025 research grant recipients, driving innovation in care and treatment

19 May 2025 11:15 ABU DHABI (ALETIHAD)The National Multiple Sclerosis Society (NMSS) has awarded Dh4 million in research grants to six UAE-based projects that are designed to accelerate progress in the understanding, diagnosis, and treatment of multiple sclerosis (MS), marking a major milestone in its second research grant awarded projects were announced at an event held in Abu Dhabi, attended by key partners, researchers, and representatives from the Department of Health – Abu Dhabi (DoH).The announcement follows the release of the NMSS 2023–2024 Research Impact Report, and reflects the growing momentum behind MS research and advocacy efforts in the year's funding has doubled compared to the inaugural cycle, reflecting NMSS's strengthened commitment to advancing MS research. The grant cycle attracted 46 applications, including submissions developed in collaboration with 15 international and regional partners, representing a nearly fourfold increase compared to the first cycle, and demonstrating the UAE's strengthened leadership in MS research. The research grants have been awarded to leading institutions in the country, including Khalifa University for three projects, namely 'Investigating Genetic and Epigenetic Associations with Familial MS', 'Self-Energy Harvesting Sensors for Enhanced Monitoring of MS (SENSE-MS)', and 'Enhancing Myelination in MS through Targeted Electric Field Stimulation'; University of Sharjah for ' Development and Evaluation of Augmented Reality-Based Dual-Task Training to Enhance Cognitive and Motor Function in People with MS'; Mohammed Bin Rashid School Of Government for 'Assessing Geographic and Socioeconomic Disparities in Access to Disease-Modifying Therapies for MS Patients in the UAE'; and Mohamed Bin Zayed University of Artificial Intelligence for 'NMSS-LLM: The World's First Large Language Model for MS'. Dr Fatima Al Kaabi, Vice Chair of the National Multiple Sclerosis Society, said, "The success of the second grant cycle reflects NMSS's commitment to championing innovation across the UAE's growing research ecosystem. The remarkable growth in both the number and caliber of applications we received this year is a testament to the country's expanding scientific capabilities and its vision to become a global hub for healthcare and research excellence. Developed in collaboration with DoH, the programme aligns with national priorities and is driven by the UAE leadership's vision to strengthen the UAE's position as a leader in healthcare innovation.""Each of these projects represent meaningful progress towards our long-term vision of improving quality of life for people living with MS, both locally and globally, and achieving breakthroughs in MS care. The programme is driven by NMSS's commitment to driving transformative research that translates hope into real-world breakthroughs, from earlier diagnosis and improved treatment options to new pathways toward a cure," she Asma Al Mannaei, Executive Director of the Health Life Sciences Sector at the Department of Health – Abu Dhabi (DoH), said, "At the Department of Health – Abu Dhabi, we are deeply committed to advancing the future of MS care through strategic collaboration and shared purpose. Our partnership with the National Multiple Sclerosis Society reflects a unified vision to elevate research, improve patient outcomes, and build a resilient ecosystem for neurological health in the UAE. Together, we aim to drive innovation, shape evidence-based policies, and inspire meaningful progress in the lives of those affected by MS." NMSS continues to invest in future talent through initiatives, such as the joint NMSS MENACTRIMS Fellowship, which offers a postdoctoral research fellowship for young Emirati neuroscientists, supporting their training and development in basic, clinical, or applied MS research. The goal of the programme is to foster scientific exchange and grow the pool of skilled researchers dedicated to addressing MS-related challenges in the UAE and beyond. Source: Aletihad - Abu Dhabi

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