Greece will distribute €1.4 billion (Dh6bn) as a social dividend to pensioners and others hit hard by the country’s austerity programs, the prime minister Alexis Tsipras said.
The money is available because the country has beaten its 2017 bailout target for a primary surplus - which excludes debt servicing costs - of 1.75 per cent of gross economic output, he said.
Mr Tsipras came to power in 2015 promising to end austerity but was later forced to sign up to a new EU bailout, the country’s third, in exchange for more belt-tightening to keep Greece in the euro zone. He was re-elected and his term ends in late 2019.
His leftist-led government hopes that after seven years of crisis, Greece’s fiscal performance will help it emerge from EU bailouts in August 2018, when its current rescue package ends.
“For a second year, we are in a position to distribute a social dividend to the people who need it the most. Better prepared and more effective this year, we will be able to pay out an even bigger amount,” he said.
Last year, Mr Tsipras unexpectedly announced that the state would pay out about €600 million to low-income pensioners, a move that angered the country’s international lenders.
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Greek experts give go ahead for Dh34bn resort project
Greek leader sees bailout exit next year
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This year’s handouts have been approved in principle by the lenders, who are reviewing Greece’s bailout progress. Their representatives are expected in Athens this month to resume talks on fiscal targets and on reforms.
“We [the institutions] have been discussing these ideas with the Greek authorities. The announcements seem broadly in line with these discussions, which have not been concluded yet,” an EU Commission spokesman said, adding that the proposals would be examined by the lenders.
Mr Tsipras said about €720m would be distributed by mid-December to 3.4 million Greeks as a one-off, tax-free benefit, based on income and wealth criteria and household size. The country’s population is about 11 million.
Another €315m would be directed to pensioners, he said, to compensate them for “unfair” health contribution payments in 2012-2016, while €360m would be paid to Greece’s biggest power utility, Public Power Corporation, to prevent electricity tariff increases.
RESULTS
6.30pm UAE 1000 Guineas Trial Conditions (TB) US$100,000 (Dirt) 1,400m
Winner Final Song, Christophe Soumillon (jockey), Saeed bin Suroor (trainer).
7.05pm Handicap (TB) $135,000 (Turf) 1,000m
Winner Almanaara, Dane O’Neill, Doug Watson.
7.40pm Handicap (TB) $175,000 (D) 1,900m
Winner Grand Argentier, Brett Doyle, Doug Watson.
8.15pm Meydan Challenge Listed Handicap (TB) $175,000 (T) 1,400m
Winner Major Partnership, Patrick Cosgrave, Saeed bin Suroor.
8.50pm Dubai Stakes Group 3 (TB) $200,000 (D) 1,200m
Winner Gladiator King, Mickael Barzalona, Satish Seemar.
9.25pm Dubai Racing Club Classic Listed Handicap (TB) $175,000 (T) 2,410m
Winner Universal Order, Richard Mullen, David Simcock.
ROUTE TO TITLE
Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
Round 3: Beat Marie Bouzkova 6-4, 6-2
Round 4: Beat Anastasia Potapova 6-0, 6-0
Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2
COMPANY PROFILE
Company name: Almouneer
Started: 2017
Founders: Dr Noha Khater and Rania Kadry
Based: Egypt
Number of staff: 120
Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
$3.6 million led by Global Ventures
COMPANY PROFILE
Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others
MATCH INFO
What: India v Afghanistan, first Test
When: Starts Thursday
Where: M Chinnaswamy Stadium, Bengalaru
The Farewell
Director: Lulu Wang
Stars: Awkwafina, Zhao Shuzhen, Diana Lin, Tzi Ma
Four stars
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
MEDIEVIL (1998)
Developer: SCE Studio Cambridge
Publisher: Sony Computer Entertainment
Console: PlayStation, PlayStation 4 and 5
Rating: 3.5/5
A meeting of young minds
The 3,494 entries for the 2019 Sharjah Children Biennial come from:
435 – UAE
2,000 – China
808 – United Kingdom
165 – Argentina
38 – Lebanon
16 – Saudi Arabia
16 – Bangladesh
6 – Ireland
3 – Egypt
3 – France
2 – Sudan
1 – Kuwait
1 – Australia
Company profile
Company name: Fasset
Started: 2019
Founders: Mohammad Raafi Hossain, Daniel Ahmed
Based: Dubai
Sector: FinTech
Initial investment: $2.45 million
Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices
Ramez Gab Min El Akher
Creator: Ramez Galal
Starring: Ramez Galal
Streaming on: MBC Shahid
Rating: 2.5/5
UAE Warriors fight card
Main Event
: Catchweight 165lb
Martun Mezhulmyan (ARM) v Acoidan Duque (ESP)
Co-Main Event
: Bantamweight
Felipe Pereira (BRA) v Azamat Kerefov (RUS)
Middleweight
Mohamad Osseili (LEB) v Amir Fazli (IRN)
Catchweight 161 lb
Zhu Rong (CHI) vs. Felipe Maia (BRA)
Catchweight 176 lb
Handesson Ferreira (BRA) vs. Ion Surdu (MDA)
Catchweight 168 lb
Artur Zaynukov (RUS) v Sargis Vardanyan (ARM)
Featherweight
Ilkhom Nazimov (UZB) v Khazar Rustamov (AZE)
Bantamweight
Jalal Al Daaja (JOR) v Mark Alcoba (PHI)
Lightweight
Jakhongir Jumaev (UZB) v Dylan Salvador (FRA)
Catchweight 143 lb
Hikaru Yoshino (JPN) v Djamal Rustem (TUR)
Featherweight
Javohir Imamov (UZB) v Ulan Tamgabaev (KAZ)
Catchweight 120 lb
Larissa Carvalho (BRA) v Elin Oberg (SWE)
Lightweight
Hussein Salem (IRQ) v Arlan Faurillo (PHI)
Confirmed bouts (more to be added)
Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez
Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.
RESULT
Bayern Munich 3 Chelsea 2
Bayern: Rafinha (6'), Muller (12', 27')
Chelsea: Alonso (45'+3), Batshuayi (85')
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
Scores
Rajasthan Royals 160-8 (20 ov)
Kolkata Knight Riders 163-3 (18.5 ov)
The specs: 2018 Maserati Levante S
Price, base / as tested: Dh409,000 / Dh467,000
Engine: 3.0-litre V6
Transmission: Eight-speed automatic
Power: 430hp @ 5,750rpm
Torque: 580Nm @ 4,500rpm
Fuel economy, combined: 10.9L / 100km
The Baghdad Clock
Shahad Al Rawi, Oneworld
Fringe@Four Line-up
October 1 - Phil Nichol (stand-up comedy)
October 29 - Mandy Knight (stand-up comedy)
November 5 - Sinatra Raw (Fringe theatre)
November 8 - Imah Dumagay & Sundeep Fernandes (stand-up comedy)
November 13 - Gordon Southern (stand-up comedy)
November 22 - In Loyal Company (Fringe theatre)
November 29 - Peter Searles (comedy / theatre)
December 5 - Sinatra’s Christmas Under The Stars (music / dinner show)