UAE announces $8.7 billion housing plan for citizens -Dubai Ruler’s tweet

General view of Dubai's cranes at a construction site in Dubai, UAE December 18, 2018. (Reuters)
Updated 25 February 2019
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UAE announces $8.7 billion housing plan for citizens -Dubai Ruler’s tweet

  • The plan will see 34,000 units built for nationals within the next six years, Sheikh Mohammed said

DUBAI: The United Arab Emirates plans to build tens of thousands of housing units for its local population for which the government has allocated 32 billion dirhams ($8.7 billion), according to a plan announced by the country’s vice president and prime minister Sheikh Mohammed bin Rashid Al-Maktoum on Monday.
The plan will see 34,000 units built for nationals within the next six years, Sheikh Mohammed, who is also Dubai’s ruler, said in a Tweet.
The income limit for beneficiaries of housing grants was raised to 15,000 from 10,000 dirhams per month, and the maximum value for housing loans was raised to 1.2 million dirhams from 800,000, he said.
($1 = 3.6729 UAE dirham)


Twitter triples first-quarter profit to $191 million

Updated 23 April 2019
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Twitter triples first-quarter profit to $191 million

  • Profits in the first quarter hit $191 million, compared with $61 million a year earlier
  • The longstanding metric of monthly active users was 330 million in the January-March period

WASHINGTON: Twitter said Tuesday its profits tripled in the past quarter even as it ramped up efforts to root out abuse and misconduct on its short messaging platform.
Profits in the first quarter hit $191 million, compared with $61 million a year earlier, while revenues increased 18 percent to $787 million.
Twitter’s global user base appeared to show modest growth even as the company transitions to a different way of measuring it.
The longstanding metric of monthly active users was 330 million in the January-March period, an increase of nine million from the past quarter but down slightly from a year ago.
But Twitter no longer will use that measure, switching instead to “monetizable” daily active users — 134 million in the past quarter, up from 120 million last year.
Chief executive Jack Dorsey said Twitter is benefiting from its moves to root out abusive and inauthentic content that had hurt Twitter’s reputation.
“We are taking a more proactive approach to reducing abuse and its effects on Twitter,” said Dorsey.
“We are reducing the burden on victims and, where possible, taking action before abuse is reported.”
He added that Twitter aims to become “more conversational” and has launched a prototype for a new app called “twttr,” with the goal of “making conversation on Twitter feel faster, more fluid and more fun.”