Generous UAE is world’s top donor for fifth year

Agencies
April 10, 2018

Dubai, Apr 10: The UAE has maintained its ranking as the world’s largest donor of official development aid, relative to its gross national income, for the fifth consecutive year.

According to a report by the Paris-based Organisation for Economic Co-operation and Development (OECD), the UAE gave Dh19.3 billion worth of development assistance last year, making up of 1.31 per cent of its national income. Development assistance provided by the UAE grew by 18.1 per cent compared to 2016, and over 54 per cent of the aid was administered in the form of grants. 

His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, welcomed the news. “For the fifth consecutive year, the UAE is the largest donor of humanitarian aid in the world, relative to its national income, where our assistance reached more than 147 countries. The UAE’s generosity is for the entire humanity...This is the nation which was founded by the late Shaikh Zayed Bin Sultan,” he tweeted.

UAE 2017, Year of Giving

Sweden came second, contributing 1.01 per cent of its gross national income, followed by Luxembourg at 1 per cent, Norway at 0.99 per cent, while Denmark came fifth with 0.72 per cent and the UK came sixth at 0.7 per cent.

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Agencies
August 2,2020

New Delhi, Aug 2: Union Home Minister Amit Shah today tested positive for COVID-19 coronavirus infection and has been admitted to a hospital. 

Shah took to social media today to inform about his infection. “I have tested positive but my health is fine," he said, adding that he has been hospitalised on the assistance of doctors. 

The Union Home Minister also appealed to those who came into close contact with him in the last few days to get themselves tested for COVID-19.

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News Network
March 11,2020

Mar 11: Energy giant Saudi Aramco on Wednesday said it plans to raise its crude production capacity by one million barrels per day to 13 million bpd as a price war with Russia intensifies.

"Saudi Aramco announces that it received a directive from the ministry of energy to increase its maximum sustainable capacity from 12 million bpd to 13 million bpd," the company said in a statement to the Saudi Stock Exchange.

The decision comes a day after the world's top exporter, Saudi Arabia, decided to hike production by at least 2.5 million bpd to a record 12.3 million from April.

The Saudi moves come after the collapse of an oil production reduction agreement between OPEC and non-OPEC producers, including Russia.

The deal proposed by Saudi Arabia called for additional output cuts of 1.5 million bpd to cope with the severe economic impact of the coronavirus which has sharply reduced world demand for crude.

Boosting production capacity normally takes a long time and requires billions of dollars of investment.

Several years ago, the kingdom had shelved plans to boost its crude production capacity beyond 12 million bpd after demand for OPEC oil declined in the face of stiff competition from North American shale oil and other sources.

Russia on Tuesday said it was open to renewing cooperation with the OPEC cartel even as its kingpin Saudi Arabia escalated a price war with Moscow by announcing it would flood markets with new supplies.

The oil price war broke out after OPEC and a group of non-member countries dominated by Russia -- the world's second largest producer -- on Friday failed to agree on production cuts.

Saudi Arabia responded by announcing unilateral price cuts. This prompted the oil price to plummet and fuelled huge falls on stock markets around the world on Monday.

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Agencies
May 31,2020

New Delhi, May 31: India registered its highest single-day spike of COVID-19 cases on Sunday with 8,380 new infections reported in the last 24 hours, taking the country's tally to 1,82,143, while the death toll rose to 5,164, according to the Union Health Ministry.

The number of active COVID-19 cases stood to 89,995, while 86,983 people have recovered and one patient has migrated, it said.

"Thus, around 47.75 per cent patients have recovered so far," a senior health ministry official said.

The total confirmed cases include foreigners.

The death toll has gone up by 193 since Saturday morning, of which 99 were from Maharashtra, 27 from Gujarat, 18 from Delhi, nine each from Madhya Pradesh and Rajasthan, seven from West Bengal, six each from Tamil Nadu and Telangana, five in Bihar, three from Uttar Pradesh, two from Punjab, and one each from Haryana and Kerala.

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