Financial and Banking News


Emirates Increase Local Spending, Reduce Federal Contributions 

Figures recently released by the Central Bank of the United Arab Emirates indicate that during 1985 the four principal emirate governments (Abu Dhabi, Dubai, Sharjah and Ras al-Khaimah) increased their local spending at the expense of their contributions to the federal UAE government. Local spending increased by 2.3% from Dh24,127mn in 1984 to Dh24,686mn in 1985, while...