Sheikh Mohammed issues law to improve govt spending and transparency
Dubai’s ruler Sheikh Mohammed bin Rashid al-Maktoum, issued a law on Thursday ordering…
December 19, 2009 10:30 by kippreport
Dubai’s ruler Sheikh Mohammed bin Rashid al-Maktoum, issued a law on Thursday ordering all government entities to funnel their 2009 surplus revenues to Dubai’s treasury, in a bid to improve government spending and transparency, a circular announced on Thursday.
The excess capital will be reinvested into the government, pending approval by the Supreme Fiscal Committee, in consultation with Investment Corporation of Dubai.
The announcement did not specify how much capital will be redirected to the emirate’s treasury.
More on GCC
-
Bahrain’s Batelco CEO leaves with immediate effect
-
Arabtec Says Workers End Strike
-
First report by Etisalat covering global footprint
-
Kuwaiti Oil Service Workers On Strike Over Pay – Union
-
Qatar’s Doha Bank May Sell Bonds To Raise Capital – CEO
-
Qatar to announce new energy infrastructure fund
-
Qatar Holding, Italy Fund Eying Versace – Paper
-
Saudi government websites targeted
-
NCoV – First report of patient-to-nurse spread
-
Saudi regulations target stock market speculators
-
Dubai’s Arqaam Capital Eyes South Africa, Saudi Expansion
-
U.S. Targets Two UAE Firms For Dealing With Blacklisted Iran Banks
-
Airbus officially picked by Kuwait Airways
-
GMR reveals top 50 Mena Corporate Brands
-
Kuwait Airways to sign $3 billion-plus Airbus deal
-
Abu Dhabi Tourism Company Loss Widens
-
Emirates Airline reaps expansion profits
-
Saudi Arabia has 13 cases of SARS-like Coronavirus – WHO
-
UAE Central Bank Shuts Two Money Exchange Firms For Violations
-
Emal plans further expansion
