The UAE Cabinet has approved a federal budget of Dh192 billion ($52.27 billion) for 2024 to 2026.
It also approved the Federal General Budget for 2024, with estimated spending of Dh64.06 billion and revenue of Dh65.73 billion.
The distribution for next year allocates 42 per cent of the budget to the development and social benefits sector, 39 per cent to government affairs and 19 per cent for the development of infrastructure and financial and economic assets of the federal government.
The meeting at Qasr Al Watan in Abu Dhabi was chaired by Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai.
Sheikh Maktoum bin Mohammed, Deputy Prime Minister, Minister of Finance and Deputy Ruler of Dubai, writing on social media, said the budget "reflects the UAE’s steadfast commitment towards sustainable development and investing in the welfare of its people".
"We are working to implement plans and projects that put the people of the Union at the top of their priorities, because the UAE is a country of leadership and its people deserve the best," he added.
The UAE General Budget Committee met in June to discuss the draft general budget for 2024.
The UAE economy grew by 7.9 per cent last year, the highest in 11 years, after expanding 4.4 per cent in 2021, supported by its non-oil sector.
Abdulla bin Touq, Minister of Economy, said in August that the UAE's economy grew by 3.8 per cent on an annual basis to Dh418.3 billion in the first quarter of this year amid its push for diversification.
That was boosted by non-oil gross domestic product, which rose 4.5 per cent year-on-year to Dh312 billion.
New drug authority
Sheikh Mohammed also said the UAE government has issued a law to establish the Emirates Drug Authority, which he said will be the independent federal regulator for pharmaceutical and healthcare products.
"This official institution is responsible for regulating and licensing medical and pharmaceutical products, healthcare products, nutritional supplements, cosmetic products, veterinary products and those related to agriculture," Sheikh Mohammed said, writing on X, formerly known as Twitter.
"The goal is to make the country a globally trusted hub for pharmaceutical and medical industries, develop national capabilities in drug manufacturing, promote research and development and attract leading investments in the pharmaceutical sector to enhance pharmaceutical security."
Sheikh Mohammed said the Cabinet issued a decree regarding the members of the Financial Stability Council, which will oversee the country's financial infrastructure and be led by Sheikh Mansour bin Zayed, Deputy Prime Minister and chairman of the Presidential Court.
"The council aims to enhance and ensure financial stability, foster co-operation among financial authorities in the country, develop financial infrastructure, and increase the financial system's contribution to economic development," he said.
Sheikh Mohammed said the council included the Minister of State for Financial Affairs, the Governor of the Central Bank, the Chairman of the Securities and Commodities Authority, the Chairman of The Abu Dhabi Global Financial Market, and the Chairman of the Dubai Financial Services Authority, among others.
The Cabinet approved a policy for the digital government services standards, which Sheikh Mohammed said aims "to elevate the quality of digital government services, ensure their availability and guarantee their reliability".
Sheikh Mohammed said the Cabinet also approved the restructuring of the Emirates Space Agency Council under the leadership of Sarah Al Amiri, Minister of State for Public Education and Advanced Technology.
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Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
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Wednesday, 11pm (UAE)
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Francesco Totti's bio
Born September 27, 1976
Position Attacking midifelder
Clubs played for (1) - Roma
Total seasons 24
First season 1992/93
Last season 2016/17
Appearances 786
Goals 307
Titles (5) - Serie A 1; Italian Cup 2; Italian Supercup 2
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
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Monday, Sept 30
Al Sadd v Esteghlal (8pm)
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Al Hilal v Al Shorta (10pm)
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Biography
Favourite book: Zen and the Art of Motorcycle Maintenance
Holiday choice: Anything Disney-related
Proudest achievement: Receiving a presidential award for foreign services.
Family: Wife and three children.
Like motto: You always get what you ask for, the universe listens.
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
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AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
Results
5pm: Wadi Nagab – Maiden (PA) Dh80,000 (Turf) 1,200m; Winner: Al Falaq, Antonio Fresu (jockey), Ahmed Al Shemaili (trainer)
5.30pm: Wadi Sidr – Handicap (PA) Dh80,000 (T) 1,200m; Winner: AF Majalis, Tadhg O’Shea, Ernst Oertel
6pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m; Winner: AF Fakhama, Fernando Jara, Mohamed Daggash
6.30pm: Wadi Shees – Handicap (PA) Dh80,000 (T) 2,200m; Winner: Mutaqadim, Antonio Fresu, Ibrahim Al Hadhrami
7pm: Arabian Triple Crown Round-1 – Listed (PA) Dh230,000 (T) 1,600m; Winner: Bahar Muscat, Antonio Fresu, Ibrahim Al Hadhrami
7.30pm: Wadi Tayyibah – Maiden (TB) Dh80,000 (T) 1,600m; Winner: Poster Paint, Patrick Cosgrave, Bhupat Seemar
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Emergency phone numbers in the UAE
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
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The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
Killing of Qassem Suleimani
