The UAE has joined over 50 other countries at the official launch of the Asian Infrastructure Investment Bank (AIIB) in Beijing. China is providing the bulk of the new lender’s capital, while the UAE is set to contribute $237 million (AED 870.3 million) over five years. AIIB will help mobilise funds for infrastructure projects in the Asian region, mainly focusing on developing economies. It’s the first international development bank which doesn’t have the United States and Japan as partners.
Dubai allows SZR, Al Jaddaf property owners to convert to freehold
Dubai Land Department (DLD) announced on Sunday that private property owners of all nationalities in the Sheikh Zayed Road area (from the Trade Centre Roundabout to the Water Canal) and Al Jaddaf area can now convert their ownership status to freehold.
SEWA implements water networks projects in Kalba
As part of Sharjah Electricity, Water and Gas Authority's (SEWA) efforts to improve and develop water transmission and distribution networks in all regions of the Emirate of Sharjah, the Authority announced on Sunday it is implementing a number of projects in Kalba city at a cost of up to AED107.4 million.
UAE ranks among top 35 countries with largest global maritime fleets
The UAE has ranked among the top 35 countries globally with the largest shipping fleets by tonnage and capacity, according to the 2024 report by the United Nations Conference on Trade and Development (UNCTAD).
TikTok goes dark for US users
TikTok stopped working in the United States late on Saturday and disappeared from Apple and Google app stores ahead of a law that takes effect on Sunday requiring the shutdown of the platform used by 170 million Americans.
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