close

policy

We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Agree
Disagree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Gender
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

 
 
Latest News

UAE finance minister seeks 5% budget cut: paper

UAE finance minister seeks 5% budget cut: paper.

0

October 22, 2010 3:10 by



The United Arab Emirates’ finance ministry has proposed a five percent cut in the state’s budget for the next three years to a total 126.3 billion dirhams ($34.4 billion), a local paper said.

Arabic daily Al Ittihad said it obtained a September letter to UAE officials from Obaid Humaid Al Tayer, the minister of state for finance, proposing the reduced budget for the period from 2011 to 2013 as a measure to prevent running a deficit.

On Thursday, the country’s legislature, the Federal National Council (FNC), rejected the proposed budget, Al Ittihad said.

Its secretary general cited the FNC’s right to reject the proposal under the constitution. The FNC has the constitutional right to reject laws, and in the UAE, the federal budget is drafted as a law.

In the past however, the government has passed laws without FNC approval during periods when the legislature is not in session. The president, Sheikh Khalifa bin Zayed Al-Nahayan, would also be able veto the FNC decision.

The Gulf Arab state had previously planned a 2011-13 budget of 132 billion dirhams.

In 2010, the UAE increased its budget by 3.4 percent to 43.6 billion dirhams from its 2009 budget.

(Reporting by Erika Solomon; Editing by Ruth Pitchford)



0

Tags: , , , , ,

Leave a Comment