INSEAD Day 4 - 728x90

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

UAE provides inflation allowance to 47,300 low-income families

The funding for the Social Welfare Programme has been doubled, from AED14 billion to AED28 billion.
  • The inflation allowance is provided for food, water and electricity and fuel.
  • Electricity and water subsidies will be paid to eligible categories for the inflation allowance in September.

The number of families that are provided inflation allowance under the UAE’s Social Welfare Programme for low-income citizens, has reached 47,300, according to the Ministry of Community Development.

The inflation allowance is provided for food, water and electricity and fuel. The ministry has approved the disbursement of the fuel subsidy through ADNOC Distribution since mid-July and food subsidies through LuLu Hypermarket since August 5.

Electricity and water subsidies will be paid to eligible categories for the inflation allowance in September. The eligibility criteria and eligible categories for the water and electricity subsidies remains the same as those for the fuel and food subsidies.

The value of the food subsidies is linked to the change in inflation rates for basic foodstuffs.

The Ministry of Community Development said the social welfare applications and related inquiries can be submitted through the ministry’s website (www.mocd.gov.ae) and smart application. Registrations must be made using the UAE Pass or registration with the Emirates ID.

In early July, President Sheikh Mohamed bin Zayed Al Nahyan had directed restructuring of the Social Welfare Progarmme of low-income citizens into an integrated programme, and doubling its funding from AED14 billion to AED28 billion.