UAE recalls envoy to Iran

April 13, 2012

recals


Abu Dhabi, April 13: The UAE on Thursday recalled its ambassador to Iran for consultations, a day after Foreign Minister Shaikh Abdullah bin Zayed Al Nahyan condemned a visit by Iranian President Mahmoud Ahmadinejad to the UAE’s island of Abu Mousa, occupied by Teheran since 1971.

‘The Ministry of Foreign Affairs summoned today UAE Ambassador to the Islamic Republic of Iran Saif Mohammed Obaid Al Zaabi for consultations,’ a statement said as the latest Iranian provocation drew a chorus of condemnation. The UAE also cancelled a football friendly against Iran scheduled for April 17, at the Fujairah Stadium.

A statement from Yousuf Yaqoub Al Serkal, chairman of the interim committee of the UAE Football Association, said the decision comes in line with the UAE’s denunciation of Ahmedinajad’s visit.


GCC Secretary-General Dr Abdul Latif Al Zayani lambasted Ahmadinejad’s visit to the occupied islands as ‘provocative’ and a ‘flagrant violation’ of the UAE’s sovereignty.

The visit, he stressed, would not change the historic and legal facts and UAE sovereignty over its three occupied islands the Greater and Lesser Tunbs and Abu Mousa.

‘The visit demonstrates an irresponsible provocation and a step that doesn’t cope with the good neighbourliness policy adopted by GCC member states towards Iran nor with the GCC’s persistent peaceful efforts for solving the issues either through direct negotiations or taking the case to the International Court of Justice,’ he said.

The UAE Federal National Council (FNC) said in a statement that the ‘visit is a flagrant violation to the UAE sovereignty over its territories, and a setback to all efforts made by the UAE to put an end to the occupation of the UAE Islands through direct negotiations or resorting to the International Court of Justice’.

The FNC underscored that the visit is contrary to what has been agreed on between the two countries to avoid an escalation over the issue and to create a conducive atmosphere for reaching settlement that consolidates security, stability and good-neighbourliness.

The FNC slammed the provocative rhetoric of the Iranian president during his infamous visit to the UAE territory, calling on Teheran to cease such provocative steps and adopt peaceful approaches that could build confidence and help reach a just settlement to the issue.Foreign Minister Shaikh Abdullah had on Wednesday condemned the visit in the strongest possible terms, terming it as a ‘flagrant violation’ of the UAE sovereignty and a ‘setback’ to all efforts and attempts the UAE has been making to find a peaceful settlement to Iran’s occupation of the UAE islands.

‘This visit will not change the legal status of these islands which are part and parcel of the UAE national soil,’ Shaikh Abdullah emphasised.

He asserted that the visit and the provocative rhetoric of the Iranian president exposed Iran’s false allegations regarding its keenness to establish good-neighbourliness and friendship with the UAE and countries of the region.

The UAE foreign minister denounced the timing of the visit, saying it comes at a time when the two countries agreed to make more efforts to turn over the page by reaching a solution to the issue, and at a time the UAE has committed to what both countries had agreed out of a desire to create a conducive environment for reaching a solution that enhances stability in the region.

Ahmadinejad’s visit, Shaikh Abdullahhe said, was a gross breach of this agreement.


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Agencies
January 4,2020

Dubai, Jan 4: Three UAE airlines have made it to lists of the safest carriers in 2020, reinforcing the value these companies provide passengers in the increasingly competitive aviation scene.

Abu Dhabi's Etihad Airways and Dubai's Emirates are in the list of the top 20 safest airlines, while Sharjah-based Air Arabia is in the list of the top 10 low-cost carriers, safety and product rating website AirlineRatings.com reported on Thursday.

It named Qantas as the safest airline for 2020 out of the 405 carriers it monitors.

The top 20, in order, are Qantas, Air New Zealand, EVA Air, Etihad Airways, Singapore Airlines, Emirates, Alaska Airlines, Qatar Airways, Cathay Pacific Airways, Virgin Australia, Hawaiian Airlines, Virgin Atlantic Airlines, TAP Portugal, SAS, Royal Jordanian, Swiss, Finnair, Lufthansa, Aer Lingus and KLM.

"These airlines are clear standouts in the airline industry and are at the forefront of safety," said AirlineRatings.com editor-in-chief Geoffrey Thomas.

"For instance, Australia's Qantas has been recognised by the British Advertising Standards Association in a test case in 2008 as the world's most experienced airline."

"Qantas has been the lead airline in virtually every major operational safety advancement over the past 60 years and has not had a fatality in the pure-jet era," said Thomas.

AirlineRatings.com editors also identified their top 10 safest low-cost airlines; they are, in alphabetical order, Air Arabia, Flybe, Frontier, HK Express, IndiGo, Jetblue, Volaris, Vueling, Westjet and Wizz.

Saj Ahmad, chief analyst at StrategicAero Research in London, says that it isn't a surprise that UAE carriers are on those lists.

"UAE airlines almost always feature in the top rankings for safety because they value the equipment that they fly their passengers on each and every day," he told Khaleej Times on Thursday.

"All airlines do; but for the UAE, where airlines have expanded rapidly in the last couple of decades, it's an amazing feat that they rank so highly while inducting so many new aeroplanes."

There's little benefit to adding luxurious cabins if maintenance, security and safety protocols as well as routine engineering schedules are not adhered to, he stressed.

"And with the UAE itself sporting MRO activities as well as through companies like Strata, which supply components to Airbus and Boeing directly, airlines here have harnessed that tech-change to ensure that their fleets have the highest redundancy and safety checks at every possible chance," Ahmad added. "That translates into passenger confidence - and we can see the brand and loyalty strength across Emirates, flydubai, Air Arabia and Etihad; it's no surprise that each year, they all fly more and more passengers across their network."

In making its selections, AirlineRatings.com editors and its industry advisors take into account numerous critical factors that include: Audits from aviation's governing bodies and lead associations, government audits, airline's crash and serious incident record, fleet age, financial position and pilot training and culture.

"All airlines have incidents every day and many are aircraft or engine manufacture issues instead of airline operational problems. And it is the way the flight crew handles incidents that determines a good airline from an unsafe one. So just lumping all incidents together is very misleading," said Thomas.

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Agencies
July 28,2020

Dubai, Jul 28: Abu Dhabi Commercial Bank (ADCB) (ADCB.AD) is letting go hundreds of employees, sources said, the latest in a round of lay-offs by regional banks as pressure mounts to cut costs amid lower oil prices and the coronavirus crisis.

The UAE’s third-biggest lender is laying off 400 employees, two sources familiar with the matter said, after it had committed to not cutting staff because of the crisis.

In a statement, a spokesman said ADCB had pursued efficiency over the last decade by managing out its lowest underachievers after regular reviews, while ensuring talent was deployed in high-growth areas, such as digital banking.

“A certain number of redundancies are therefore expected every year in the normal course of business,” the bank spokesman added.

The sources said the cuts would involve ADCB’s consumer business and several in top management were among those being let go. One source said the bank was looking to close 20 branches.

In March, ADCB had declared, “No employee will be made redundant during 2020 as a result of the COVID-19 pandemic.”

UAE banks have been hit by government measures to rein in the spread of the virus, forcing many businesses to shut temporarily.

Last week, Dubai’s largest bank, Emirates NBD, reported a slump of 58% in profits. In June, sources told Reuters the bank started a new round of hundreds of lay-offs.

In May, ADCB reported a fall of 84% in first-quarter net profit as it took impairments of $292 million on debt exposure to troubled hospital operator NMC Health and payments group Finablr.

It was a major lender, with an exposure of about $981 million, to NMC Health, which went into administration this year after months of turmoil following questions over financial reporting.

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News Network
May 5,2020

Abu Dhabi, May 5: The overall real GDP (gross domestic product) of the United Arab Emirates is estimated to have grown by 1.7 percent in 2019, the country’s central bank said in a statement on Monday carried by WAM.

"The UAE hydrocarbon sector is estimated to have exhibited a growth of 3.4 percent in 2019. However, non-oil activities advanced at a softer pace growing by 1.0 percent. As a result, overall real GDP is estimated by FCSA (Federal Competitiveness and Statistics Authority) to have grown by 1.7 percent in 2019," said the financial regulator in its Annual Report 2019.

"The spread of COVID-19 is expected to impact trade and supply chain movements, coupled with travel restrictions which paves way for high volatility in capital markets and commodity prices. While the outbreak is expected to negatively affect the global and domestic economies, it is still early to gauge the scale of the economic fallout," the report added.

The report noted that the higher hydrocarbon output, as well as growth in non-hydrocarbon economic activity, supported the pace of the country's overall economic growth in 2019.

"Meanwhile, the fading effect of VAT, the appreciating Dirham, lower energy prices and decline in rents pushed inflation in negative territory. However, the employment rate registered a steady rebound. Looking ahead, the economic outlook for 2020 remains uncertain owing to the COVID-19 outbreak," the report elaborated.

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