Posted inPolitics & Economics

UAE considers credit crunch committee

An emergency committee to asses the impact of the global financial crisis is being considered by the UAE.

The United Arab Emirates is considering establishing an emergency committee to deal with the impact of the global financial crisis, the Ministry of Economy said on Saturday.The committee would involve the Ministry of Economy, economic departments, municipalities and the public and private sectors, the ministry said in a statement.

The proposal for the committee came after a meeting between the UAE Economy Minister Sultan bin Saeed al-Mansouri and heads of the country’s economic departments, the ministry said.

A special team established by the ministry will study the proposal before sending its report to the UAE government’s cabinet for approval, the statement said. (Reuters)

Follow us on

For all the latest business news from the UAE and Gulf countries, follow us on Twitter and LinkedIn, like us on Facebook and subscribe to our YouTube page, which is updated daily.