Financial and Banking News


UAE Budget Delayed Again

As has been the case in previous years, the federal budget of the UAE will not be issued until later in the fiscal year, which begins on 1 January. In order to ensure the smooth functioning of the state machinery, a Federal Decree was issued on 31 December 1984 approving provisional monthly allocations for the various Federal ministries equal to one twelfth (8.33%) of the total allocation for each chapter of the 1984...