The National Staff
DUBAI // The owners of seven abandoned buildings have been given a final warning to renovate them or have them torn down.
Dubai Municipality has given owners two weeks to begin work. If they do not comply, the civic body will carry out the demolition.
The municipality said it would bill owners 20 per cent for “administration charges”.
“Dubai is the meeting point of the East and the West and is a global destination for business and tourism,” said Mohammed Saleh, director of the building department at the municipality.
“Given this position of the city, we cannot compromise with the aesthetic view of our streets and roads.”
The buildings pose a threat to the public’s health and serve as a “hot-bed” for insects, the municipality said.
The order is applicable to buildings in areas including Naif, Satwa, Rashidiya, Al Khubaisi , Abu Hail and Muhaisna 2.
Owners should contact the municipality on 800 900.
newsdesk@thenational.ae
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Thu Mar 15 – West Indies v Afghanistan, UAE v Scotland
Fri Mar 16 – Ireland v Zimbabwe
Sun Mar 18 – Ireland v Scotland
Mon Mar 19 – West Indies v Zimbabwe
Tue Mar 20 – UAE v Afghanistan
Wed Mar 21 – West Indies v Scotland
Thu Mar 22 – UAE v Zimbabwe
Fri Mar 23 – Ireland v Afghanistan
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Thu Mar 15 – Netherlands v Hong Kong, PNG v Nepal
Sat Mar 17 – 7th-8th place playoff, 9th-10th place playoff
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Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
The currency conundrum
Russ Mould, investment director at online trading platform AJ Bell, says almost every major currency has challenges right now. “The US has a huge budget deficit, the euro faces political friction and poor growth, sterling is bogged down by Brexit, China’s renminbi is hit by debt fears while slowing Chinese growth is hurting commodity exporters like Australia and Canada.”
Most countries now actively want a weak currency to make their exports more competitive. “China seems happy to let the renminbi drift lower, the Swiss are still running quantitative easing at full tilt and central bankers everywhere are actively talking down their currencies or offering only limited support," says Mr Mould.
This is a race to the bottom, and everybody wants to be a winner.
