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)


US won’t send officials to China’s Belt and Road Forum

Updated 24 April 2019
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US won’t send officials to China’s Belt and Road Forum

  • Leaders from 37 countries and officials from dozens more are expected to attend the Belt and Road Forum from Thursday to Saturday
  • Chinese Foreign Minister Wang Yi told journalists at a briefing last week that US diplomats, state government representatives and members of the business community would be attending the forum

BEIJING: Washington will not send officials to a Beijing summit on Chinese President Xi Jinping’s signature global infrastructure project, the US embassy said Wednesday amid a raft of disputes between the two powers.
Leaders from 37 countries and officials from dozens more are expected to attend the Belt and Road Forum from Thursday to Saturday, but Washington has dismissed the initiative as a “vanity project.”
“The United States has no plans to send officials from Washington to the Belt and Road Forum,” a US embassy spokesperson told AFP in an email.
“We call upon all countries to ensure that their economic diplomacy initiatives adhere to internationally-accepted norms and standards, promote sustainable, inclusive development, and advance good governance and strong economic institutions,” the spokesperson said.
Chinese Foreign Minister Wang Yi told journalists at a briefing last week that American diplomats, state government representatives and members of the business community will be attending the forum.
At the first Belt and Road summit in 2017, the US was represented by White House adviser Matt Pottinger.
Since then, more countries have signed up to Belt and Road, most notably Italy, which became the first G7 nation to join the global scheme that aims to link Asia to Europe and Africa through massive investments in maritime, road and rail projects.