Dubai intervenes with an economic support package of 1 billion dirhams, amid the war in Iran
Dubai has approved economic facilitation measures worth 1 billion dirhams ($272.26 million) to support the business sector, due to take effect on April 1, for a period of three to six months, Dubai's Crown Prince X announced on Monday in a post on X, according to Reuters.
The measures aim to increase the flexibility of the emirate's economy, strengthen responsiveness and support companies and families in managing the current economic conditions.
The chairman of the Dubai Executive Council, Sheikh Hamdan, said in a meeting that the package aims to strengthen the flexibility of the emirate's economy, increase the level of preparedness and ensure a quick response to current requirements, according to Gulf News.
Sheikh Hamdan said Dubai's leaders remain connected to society's needs and rely on experienced teams capable of managing changing challenges while maintaining the pace of growth.
He pointed out that Dubai has consistently demonstrated that it can turn challenges into opportunities and expressed confidence that the emirate will emerge from this period stronger, more competitive and consolidated as one of the leading global economic centers.
The Emirates have notified the Americans and other allies that they will participate in the “Hormuz Security Force”
The United Arab Emirates has told the Americans and other Western allies that it will participate in a multinational maritime task force aimed at reopening the Strait of Hormuz, the Financial Times reported on Friday, citing sources familiar with the situation.
The Emirates is trying to persuade dozens of countries to create a “Strait of Hormuz Security Force” to defend it from Iranian attacks and escort ships, according to the FT and Reuters.
The Emirates' effort comes as it has faced more Iranian attacks than any other country in the region, including Israel.
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