Latest news with #SheikhMohammedbinRashid
Arabian Business
5 days ago
- Business
- Arabian Business
UAE earns top sovereign credit ratings from Moody's, S&P, and Fitch in 2025
The UAE has secured strong sovereign credit ratings from the world's top three agencies – S&P Global (S&P), Moody's Investors Service (Moody's), and Fitch Ratings (Fitch) – reinforcing international confidence in its economy and fiscal resilience. On June 17, S&P assigned the UAE a sovereign credit rating of 'AA' with a stable outlook. Moody's affirmed its 'Aa2' rating, also with a stable outlook, in its 2025 annual review. Fitch followed on June 24 with an 'AA-' rating, maintaining the stable outlook. These consistent evaluations from all three major global credit agencies reflect the UAE's strong fiscal position, economic diversification efforts, and disciplined financial governance. UAE credit ratings The country now joins a small group of nations worldwide with favourable sovereign credit ratings from all three agencies. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, said: 'The affirmation of the UAE's strong sovereign rating by the world's top three international credit rating agencies, and their consensus on a stable outlook, reflects the deep-rooted international confidence in the resilience of our national economy and the efficiency of our fiscal policies. 'This is the result of a comprehensive economic vision led by His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and closely followed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai.' Sheikh Mohammed said the UAE continues to implement economic policies grounded in diversification, transparency, and fiscal discipline, with a strong focus on increasing non-oil revenues and achieving financial sustainability. This reflects the integrated performance of government entities and long-term strategic planning, which continue to reinforce the UAE's position as a flexible and credible global economic hub. He added: 'At the Ministry of Finance, we remain committed to working closely with all government entities to enhance the efficiency of resource management, develop productive sectors, and improve the country's investment appeal. 'The development of the sovereign yield curve for the dirham was a major milestone in enhancing market transparency, providing investors with a reliable benchmark for pricing dirham-denominated debt instruments. 'This strengthens the UAE's presence on the global economic map and reinforces its ability to confidently navigate regional and international changes and challenges — by expanding the investor base and enhancing the country's reputation as a reliable and attractive destination in global capital markets.' The individual reports from each agency highlight key strengths: S&P: Cited the UAE's robust financial position and the strength of consolidated sovereign assets. It also noted that regional geopolitical tensions are likely to have limited impact due to the country's internal stability and sovereign wealth. Moody's: Emphasised continued progress in non-oil revenue development and the UAE's attractiveness to foreign investors and talent, underpinned by sound policy frameworks. Fitch: Recognised elevated regional risks but affirmed the UAE's capacity to absorb shocks, supported by strong fiscal and external reserves. The ratings confirm the United Arab Emirates' ability to diversify revenue streams beyond hydrocarbons, maintain fiscal discipline, and manage risks effectively. These achievements have contributed to macroeconomic stability and sustainable growth across key sectors such as finance, trade, infrastructure, and innovation.
Zawya
18-06-2025
- Business
- Zawya
Dubai Government Human Resources Department announces Hijri New Year holiday for the year 1447
Dubai: The Dubai Government Human Resources Department (DGHR) issued a circular announcing Friday, June 27, 2025 - as the official public holiday for Dubai government entities, departments and institutions in celebration of Hijri New Year. The circular clarifies that this holiday excludes entities with employees working in shifts or those involved in providing essential public services or managing vital facilities. These organisations may determine appropriate working hours for such employees based on operational requirements to ensure uninterrupted services. On this blessed occasion, the Department extends its warmest wishes to His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE and Ruler of Abu Dhabi; His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai; Their Highnesses the Supreme Council Members and Rulers of the Emirates and the citizens and residents of the UAE. For further information, please contact: Orient Planet Group (OPG) Email: media@ Website:
Emirates 24/7
29-05-2025
- General
- Emirates 24/7
Dubai Government Human Resources Department announces Eid Al Adha holiday for year 1446 AH
The Dubai Government Human Resources Department (DGHR) issued a circular announcing the Eid Al Adha holiday for the year 1446 Hijri. All government entities, departments, and institutions across Dubai will observe a public holiday from Arafat Day, 9th Dhul Hijjah 1446 AH (Thursday, 5th June 2025) until 12th Dhul Hijjah 1446 AH (Sunday, 8th June 2025). Official working hours will resume on Monday, 9th June 2025. Entities, departments, and institutions with employees working on shift-based schedules or involved in public services or essential facilities management are exempt from the holidays. These entities can set work schedules for the exempt employees based on their specific operational needs to maintain uninterrupted public service delivery. In light of this auspicious occasion, DGHR extends its heartfelt congratulations and best wishes to President His Highness Sheikh Mohamed bin Zayed Al Nahyan; His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai; their brothers, their Highnesses the members of the Supreme Council and the Rulers of the Emirates, and to the people of the UAE and all its residents. Follow Emirates 24|7 on Google News.
Zawya
29-05-2025
- General
- Zawya
Dubai announces Eid Al Adha holiday
The Dubai Government Human Resources Department (DGHR) issued a circular announcing the Eid Al Adha holiday for the year 1446 Hijri. All government entities, departments, and institutions across Dubai will observe a public holiday from Arafat Day, 9th Dhul Hijjah 1446 AH (Thursday, 5th June 2025) until 12th Dhul Hijjah 1446 AH (Sunday, 8th June 2025). Official working hours will resume on Monday, 9th June 2025. Entities, departments, and institutions with employees working on shift-based schedules or involved in public services or essential facilities management are exempt from the holidays. These entities can set work schedules for the exempt employees based on their specific operational needs to maintain uninterrupted public service delivery. In light of this auspicious occasion, DGHR extends its heartfelt congratulations and best wishes to President His Highness Sheikh Mohamed bin Zayed Al Nahyan; His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai; their brothers, their Highnesses the members of the Supreme Council and the Rulers of the Emirates, and to the people of the UAE and all its residents.
Zawya
29-05-2025
- General
- Zawya
Dubai Government Human Resources Department announces Eid Al-Adha holiday for year 1446 AH
Dubai, United Arab Emirates: The Dubai Government Human Resources Department (DGHR) issued a circular announcing the Eid Al-Adha holiday for the year 1446 Hijri. All government entities, departments, and institutions across Dubai will observe a public holiday from Arafat Day, 9 Dhul Hijjah 1446 AH (Thursday, June 5, 2025) until 12 Dhul Hijjah 1446 AH (Sunday, June 8, 2025). Official working hours will resume on Monday, June 9, 2025. Entities, departments, and institutions with employees working on shift-based schedules or involved in public services or essential facilities management are exempt from the holidays. These entities can set work schedules for the exempt employees based on their specific operational needs to maintain uninterrupted public service delivery. In light of this auspicious occasion, DGHR extends its heartfelt congratulations and best wishes to His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE and Ruler of Abu Dhabi; His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai; their brothers, their Highnesses the members of the Supreme Council and the Rulers of the Emirates, and to the people of the UAE and all its residents. For further information, please contact: Orient Planet Group (OPG) Email: media@ Website:
