Saudi, UAE, Kuwait vow to avert Bahrain debt crisis

Arab News
June 28, 2018

Jeddah, Jun 28: Saudi Arabia, the UAE and Kuwait stepped in on Wednesday with pledges of financial support to avert a debt crisis in Bahrain.

The three Gulf allies said they were in discussions on an aid package and other options “to enable the kingdom of Bahrain to support its economic reforms and fiscal stability.”

The promise of support immediately eased fears that Manama may be unable to redeem a $750 million Islamic bond that will mature in November, and the dinar rose in value against the US dollar.

“We believe the package will include various measures to directly bolster Bahrain’s short-term financial position, which in turn will also be critical for restoring Bahraini access to the foreign debt capital market,” Monica Malik, chief economist at Abu Dhabi Commercial Bank, told Arab News. 

“This will probably include GCC deposits with the Central Bank of Bahrain, alongside support for key projects in Bahrain.”

Bahrain’s bonds and currency have come under mounting pressure in recent days, amid concern at the state of the country’s finances, which have been hit hard by the fall in oil prices since 2014. 

Leading analysts told Arab News that support for Bahrain made both political and economic sense. Dr. Hamdan Al-Shehri, a Saudi political analyst and international-relations scholar in Riyadh, said Saudi Arabia had always stood “like a rock” behind Bahrain.

“When Bahrain was facing unrest engineered by Iran in 2011, it was Saudi Arabia that came to the rescue by sending troops as part of the Peninsula Shield Force,” he told Arab News.

“So it is not just economic support, but Saudi Arabia is with Bahrain politically, providing all support, including security cover.

“Bahrain is part of the Gulf Cooperation Council, and so the Gulf states, led by Saudi Arabia, will not let it fail on any front. The safety, security, financial stability and territorial integrity of Bahrain are paramount for Saudi Arabia and the UAE.”

Hafed Al-Ghwell, a senior adviser at the international economic consultancy Maxwell Stamp and the geopolitical risk advisory firm Oxford Analytica, said the pledge of support to Bahrain was “a smart and strategically important decision.”

“It will not only help Bahrain gain more control over its public finances, but it will also strengthen the united front of the Gulf countries during their defensive moves against the expanding role of Iran in the region,” he told Arab News.

“It will demonstrate with actions, not just words, their strong alliance in restoring investor confidence and financial stability.”

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Khaleej Times
May 27,2020

Dubai, May 27: As the authorities have taken steps to ease the Covid-19 restrictions to allow the people of Dubai to resume sporting activities from Wednesday, May 27, the Dubai Sports Council has answered your key questions.

Q&A

What are the age groups allowed to practice sports during this period?

From 12 years old to 60 years old.

Is it required to do the Coronavirus (Covid 19) medical test certificate before resuming physical activity?

Returning to the activity does not require a Coronavirus (Covid 19) test certificate.

Is it allowed for the elderly with chronic diseases to return to sports activities in fitness and yoga centers?

No, it is not allowed.

Is it allowed to use the shower cabins and bathrooms in fitness and yoga centers?

Shower cabins, saunas and jacuzzis are not allowed, while bathrooms are allowed, with sterilisation being emphasised after each use.

What sports can resume its activities?

All sports except water sports/swimming and that are practiced indoors and swimming pools.

What is the approved operational percentage within the sports facility?

A maximum 50% capacity

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Agencies
May 17,2020

Abu Dhabi, May 17: Another 731 people have tested positive for coronavirus in the UAE, pushing the total number of COVID-19 infections to 23,358, the Ministry of Health and Prevention announced on Sunday.

Six more deaths from the novel coronavirus have been also confirmed, taking the country’s death toll to 220.

The ministry also announced the full recovery of 581 new cases after receiving the necessary treatment, taking that number up to 8,512 of total recovered patients.

New tests conducted

The latest coronavirus patients, all of whom are in a stable condition and receiving the necessary care, were identified after conducting more than 40,000 additional COVID-19 tests among UAE citizens and residents over the past few days, the ministry said.

It expressed its sincere condolences to the families of the deceased and wished a speedy recovery to all patients, calling on the public to cooperate with health authorities and comply with all precautionary measures, particularly social distancing protocols, to ensure the safety and protection of the public.

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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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