Dubai spending plans unaffected by oil price slump - official

Thursday, 19 November 2015 07:38

The sustained slump in oil prices will not alter Dubai's spending or investment plans, according to a senior official. Chief executive of state-owned Investment Corporation of Dubai Mohammed al-Shaibani says there won't be a major shift in the government’s strategy, since oil makes up 2% or less of the emirate’s economy. Reports suggest the emirate is seeking more investment from the financial sector in its infrastructure projects, including those related to the Expo 2020 event. Dubai has planned a range of large projects- including a new airport and extension to its metro.

More from Local News

UAE announces Eid Al Fitr holidays for public, private sectors

The UAE government has announced Eid Al Fitr holidays for the public and private sectors.
ne’ma scales up Ramadan campaign with surplus food donations

Ne’ma, the national food loss and waste initiative, will pack Family Iftar Boxes with surplus fresh produce and non-perishable items from major suppliers, and distribute it to more than 10,000 low-income families this Ramadan.
UAE airlines cancel more flights to US due to severe snowstorm

Emirates Airlines and Etihad Airways have cancelled more flights to and from New York, Newark and other destinations in the United States after a severe snow storm struck the country's Northeast.
UAE, US discuss Sudan ceasefire in Washington

Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, met with Massad Boulos, US President’s Senior Advisor for Arab and African Affairs, during a working visit to Washington on Monday to discuss the Sudan civil war.
Emirates flights face delays due to heavy fog

Emirates Airline has announced some delays on flights arriving and departing at Dubai International Airport due to heavy fog conditions and reduced visibility across the UAE.
UAE reaffirms support to Kuwait following maritime sovereignty concerns

The UAE has reaffirmed its solidarity with Kuwait after Iraq's submission of a map with a list of coordinates to the United Nations that raises potential implications for Kuwait's rights over its maritime areas and waters, including Fisht Al-Eid and Fisht Al-Eij.
UAE issues alert over foggy conditions

The UAE weather authorities have issued a red and yellow alert on Monday as heavy fog reduced visibility across some parts of the country.
UAE, Arab states condemn US ambassador remarks on Israel

The UAE has joined other Arab countries and major regional organisations in issuing a joint statement strongly condemning remarks by the US ambassador to Israel, suggesting it would be acceptable for Israel to exercise control over occupied Arab territories, including the West Bank.
UAE aid convoys arrive in Gaza as part of ‘Operation Chivalrous Knight 3’

The UAE has continued dispatching humanitarian aid convoys to the Gaza Strip under Operation Chivalrous Knight 3, as part of its ongoing relief efforts to support the Palestinian people and alleviate their suffering amid challenging humanitarian conditions.
Emirates, Etihad cancel New York flights as snowstorm hits eastern US

Emirates Airline and Etihad Airways have cancelled and rescheduled several flights to and from New York, Newark and other US destinations, due to a severe snowstorm expected to impact the area.
Dubai Police block 232 drug websites, aid global arrests in drugs crackdown

Dubai Police say they blocked 232 websites promoting drugs and helped secure 24 arrests worldwide during the final quarter of 2025, highlighting an intensified campaign against narcotics and international trafficking networks.
RTA announces Phase II of Hessa Street Project as Phase I nears completion

Dubai’s Roads and Transport Authority (RTA) has awarded the contract for Phase II of the Hessa Street Development Project, as work continues to improve one of the city’s busiest traffic corridors.
UAE, Belgium hold third round of political consultations in Abu Dhabi

The UAE and Belgium held the third round of political consultations in Abu Dhabi, exploring avenues to further expand non-oil trade, foster private sector partnerships and enhance investment in key sectors like energy and advanced tech.
AED 100 million boost for Mother of Nation Endowment for Orphans

The Mother of the Nation Endowment for Orphans initiative has received a contribution of AED100 million from Erth Zayed Philanthropies following the directives of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President and Deputy Prime Minister.
UAE, Bahrain coordinate 100‑tonne Gaza aid shipment

Bahrain's Royal Humanitarian Foundation has dispatched a 100-tonne urgent relief shipment to the Gaza Strip in coordination with the UAE's Operation Chivalrous Knight 3 and the Emirates Red Crescent.
Child’s quad bike ride lands parent in legal trouble

Dubai Police have confiscated a recreational motorbike and taken legal action against a guardian after traffic patrols stopped a child riding on a public street, accompanied by another child.
UAE sends 30 tonnes of aid to drought-hit Kenya

The UAE has sent 30 tonnes of food aid to Kenya to support families hit by severe drought and worsening climate conditions.
UAE calls for end to crisis in Sudan at Quad meeting in New York

UAE's Minister of State, Sheikh Shakhboot bin Nahyan Al Nahyan, has stressed the need for a permanent ceasefire and an unconditional humanitarian truce in Sudan during the Quad meeting in New York.
Sheikh Abdullah discusses strategic ties with US Secretary Marco Rubio

Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, has discussed strengthening cooperation between the UAE and the US with Secretary of State Marco Rubio on the sidelines of the Board of Peace meeting in Washington.
UAE pledges $1.2 billion to support Gaza through Board of Peace

The UAE has pledged an additional $1.2 billion in support for Gaza during the inaugural meeting of the Board of Peace in Washington.

News

UAE announces Eid Al Fitr holidays for public, private sectors
The UAE government has announced Eid Al Fitr holidays for the public and private sectors.
ne’ma scales up Ramadan campaign with surplus food donations
Ne’ma, the national food loss and waste initiative, will pack Family Iftar Boxes with surplus fresh produce and non-perishable items from major suppliers, and distribute it to more than 10,000 low-income families this Ramadan.
UAE airlines cancel more flights to US due to severe snowstorm
Emirates Airlines and Etihad Airways have cancelled more flights to and from New York, Newark and other destinations in the United States after a severe snow storm struck the country's Northeast.

Dubai spending plans unaffected by oil price slump - official

More from Local News

News

Our Shows

Quick Links

Listen on the Go

Dubai spending plans unaffected by oil price slump - official

Share

More from Local News

News

Our Shows

Quick Links

Listen on the Go