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Tag Archives: UAE

How companies circumvent government-backed Wage Protection System to cheat workers

The Ministry of Human Resources and Emiratisation (previously known as Ministry of Labour) is fully committed to ensuring that employer-employee relations and labour rights are maintained for the private sector. However, there are still many companies that are short-changing workers by hoodwinking the government-backed Wages Protection System (WPS), a Gulf …

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Abu Dhabi scraps oil refiner Cepsa’s IPO

Abu Dhabi shelved plans for an initial public offering of a 25 per cent stake in Spanish oil refiner Cepsa as investors balked at the valuation amid a stock market rout. “Recent international economic developments have created uncertainty in international capital markets,” said Cepsa, which is controlled by Abu Dhabi’s …

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New employee insurance system starts

AT A GLANCE ■ New insurance policy replaces existing bank guarantee system ■ Insurance scheme costs Dh60 annually, providing Dh20,000 coverage per worker ■ It covers their end-of-service benefits, vacation allowance, overtime allowance, unpaid wages, worker’s return ticket and cases of work injury. ■ The insurance policy of domestic workers …

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Explainer: Key boosters for UAE’s GDP growth

UAE’s recent moves related to various economic support packages  include: ■ Sweeping visa, labour policy changes ■ Moves to support small and medium enterprises (SMEs) ■ Programmes to boost population and employment growth ■ Reducing business costs ■ Strengthening the investment environment Dubai: The UAE government’s recent move to expand public spending in the context …

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UAE offers Dh12.5b support to Bahrain

The UAE has signed a financial cooperation agreement worth Dh12.5 billion with the government of Bahrain to support the country’s financial stability and stimulate economic growth. The contribution will be managed by the Abu Dhabi Fund for Development (ADFD). The Dh12.5 billion from the UAE is within the framework of …

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Government amends DIFC laws

Dubai His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has enacted the DIFC Regulatory Amendment Law, No. 06 of 2018. The Law, which amends the Regulatory Law of 2004, will come into force on October 29 and, together with …

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Dubai’s Burj Khalifa beams Gandhi’s images

Mahatma Gandhi’s images beamed on Burj Khalifa this evening, marking the commencement of the 150th birth anniversary celebrations of India’s Father of the Nation. The special LED show, jointly organised by the Indian Embassy, Abu Dhabi, Indian Consulate in Dubai and Emaar Properties, took place at 8:20pm and 8:40pm on Tuesday. Gandhi Jayanti …

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World’s first full-scale Hyperloop passenger capsule unveiled

US-based Hyperloop Transportation Technologies (HyperloopTT) on Tuesday unveiled its first full-scale transportation capsule at Puerto de Santa Maria, Spain, which will be ready for passengers in 2019. The 32-metre “Quintero One” passenger capsule will be delivered to HyperloopTT’s research and development centre in Toulouse, France, for additional assembly and integration …

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Enoc Group to strengthen presence in Malta

The Enoc Group signed a Memorandum of Understanding (MOU) with Enemed, the state-owned fuel distributor and supplier in Malta, to strengthen cooperation for capital projects in Malta and other international markets. As part of the agreement, the group will explore growth opportunities in Malta, and potential areas of cooperation between …

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Du opens a new track for growth

Emirates Integrated Telecommunications Company (EITC), the parent company of telecom operator du, has opened a new track for growth that is not in the connectivity business by unveiling an Ideal Hub on Monday. The Dubai-based operator aims to showcase strategic advanced technologies to transform the digital services landscape in the …

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