UAE firms to get subsidies
United Arab Emirates: Thursday, April 10 - 2008 at 07:13
The UAE Ministry of Economy's Industrial Affairs Department has announced that it will subsidise services to help local industries that are suffering losses due to the UAE's monetary policy, especially the pegging of the dirham to the weakening US dollar, reported Gulf News. Sultan Bin Saeed Al Mansouri, teh UAE's Minister of Economy, said the ministry is seeking to 'find comprehensive solutions to help these industries and harmonise the sector throughout the country'. The UAE dirham has lost 37% of its value in the last five years.
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Jeff Florian, Senior ReporterThursday, April 10 - 2008 at 07:13 UAE local time (GMT+4)
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