UAE

25 Countries In Global Banks’ ‘High Risk’ List

China, UAE, Cyprus and significantly, Mauritius, along with 21other countries have been tagged as “high-risk jurisdictions” by global banks acting as custodians for foreign funds. It comprises the largest group of investors in the Indian stock market. Large investors and beneficial owners of these funds entering India through these high-risk jurisdictions will face close scrutiny.

Hyderabad to have UAE consulate

CM Rao has discussed with Shaikh Abdullah Bin Zayed Al Nahyan, UAE’s Minister of Foreign Affairs to come up with a consulate in Hyderabad. The consulate will further strengthen ties between Telangana and UAE. The minister also lauded various achievements of Telangana government by creating Asia’s biggest lift irrigation project at Kaleshwaram.

ICC added 4 teams to the ODI Team Rankings

Netherlands, Nepal, UAE and Scotland have been added by ICC to the list of ODI-Test playing nations, expanding the teams from 12 to 16. Netherlands secured its ODI status by winning the ICC World Cricket League Championship last year. Whereas, UAE, Nepal and Scotland earned it in the ICC Cricket World Cup Qualifier 2018, by finishing as the three leading Associates.

100% business ownership to foreign investors

22 : United Arab Emirates Cabinet has approved a plan to allow foreign investors to own 100% of UAE-based businesses by end of 2018. At present, foreigners generally cannot own more than 49 percent of any UAE firm unless it is incorporated in a special “free zone”. The decision is part of a wider change to the system that would grant residency visas of up to 10 years to investors and specialists.

India, UAE to engage on skill harmonisation

India and the UAE have agreed to work together for harmonisation of skills that aims to match India’s programmes for upskilling workers with the requirements of job market in the Gulf nation.This will help meet the skill demands of the UAE’s employers.The two governments announced a partnership to strengthen the certification and joint recognition of skills.

UAE approves issuance of Law on Equal Wages

In an effort to narrow the gender gap in the United Arab Emirates, the Cabinet has approved the issuance of the Law on Equal Wages and Salaries for Men and Women.The new law will provide women with equal opportunities as partners in the UAE’s development. In 2015, the UAE Council for Gender Balance was established and in September, the UAE launched the world’s first Gender Balance Guide.

UAE, Malaysia conclude military exercise

The United Arab Emirates (UAE) and Malaysia concluded “Desert Tiger 5” joint military exercise aimed at sharing expertise and enhancing joint military actions.The Desert Tiger series is an annual joint exercise between the two countries. The exercise also trains ground forces on the use of modern weapons for all types of combat operations.

UAE is 1st Arab Country to have Nuclear Power

The United Arab Emirates (UAE) celebrated the completion of the first-ever Nuclear Power Plant not only in the country but the whole Arab Gulf Region. The $20 billion Barakah Plant west of Abu Dhabi has been constructed by a consortium led by Korea Electric Power Corp in nine years. It‘s one of the four nuclear reactors being constructed with South Korea‘s cooperation.