Also called the UAE Union Day, the UAE marks the National Day on December 2 every year to celebrate the unification of the Emirates in 1971
uae3 hours ago
President Vladimir Putin "must and will fail," top European Union leaders said on Friday as they agreed new sanctions over his invasion of Ukraine, saying he was trying to bring the continent back to the age of empires and confrontations.
Russia launched its invasion by land, air and sea on Thursday following a declaration of war by Putin. An estimated 100,000 people fled as explosions and gunfire rocked major cities. Dozens have been reported killed.
The bloc's leaders agreed in principle at an emergency overnight summit to impose new economic sanctions, joining the United States and others in taking steps such as curbing Russia's access to technologies.
The EU will freeze Russian assets in the bloc and halt its banks' access to European financial markets as part of what EU foreign policy chief Josep Borrell described as "the harshest package of sanctions we have ever implemented". read more
"This package includes financial sanctions, targeting 70 per cent of the Russian banking market and key state owned companies, including in defence," EU Commission chief Ursula von der Leyen said on Twitter.
She told a news conference that the sanctions, which also limit Russia's access to financial markets, would increase Russia's borrowing costs and raise inflation there.
Von der Leyen also said that export curbs to Russia would hurt its oil sector by stopping access to material it needs from the EU for its oil refineries. That will, over time, trigger a depletion in Russia's oil refining revenues, she said.
ALSO READ:
However, whereas the United States issued detailed sanctions on Thursday, EU countries, split over just how far to go, left details to be worked out in the coming days. read more
French President Emmanuel Macron told the same news conference that the war showed Europe needed to become a real power and be independent in the fields of energy and security.
Also called the UAE Union Day, the UAE marks the National Day on December 2 every year to celebrate the unification of the Emirates in 1971
uae3 hours ago
The case is still under investigation, according to the authority
uae3 hours ago
Investigations show that the money exchange business violated anti-money laundering rules
finance3 hours ago
The summit will attract over 500 global delegates, including limited partners, high net-worth individuals, and family offices
kt network3 hours ago
The new fine-dining experience aims to pioneer a new era of experiential dining, offering a seamless blend of gourmet food and cultural exploration
kt network3 hours ago
While the CEO has explained the reason behind the unusual job post, it garnered mixed reactions from Netizens on LinkedIn and X
asia3 hours ago
Ahead of KT Events’ DXB F&B Awards, all set to take place on November 27, jury member Jean Winter talks at length about what it takes to be truly inclusive
lifestyle3 hours ago
The currency was at Dh23.02 as of 10.40 am IST
markets4 hours ago