Al Rajhi Bank 9M profit up

Revenue growth lifts earnings despite higher provisions

Mashreq prices Dim Sum bond

UAE bank raises offshore renminbi funding

Aldar buys Sharjah homes

Deal adds 1,100-plus rental units

SIB profit up 9%

Higher income from financing and investment drive growth.

Masar signs $82m land deal

Agreements signed with Abdulmohsin Al Rossais & Sons Group.

Restrictions on single-use plastics begin in Abu Dhabi

The restrictions come as UAE prepares to host COP28 in 2023.
  • There are exemptions for medicine bags, bag rolls for produce in supermarkets, rubbish sacks and large brand name shopping bags.
  • Dubai, one of the seven other emirates that make up the UAE, has also announced it is ending the free provision of single-use plastic bags.

Restrictions on single-use plastic bags took effect in the United Arab Emirates capital Abu Dhabi Wednesday, as part of its efforts for a “greener future”.

The “single-use plastic bags ban starts today… to encourage sustainable living in Abu Dhabi”, the emirate’s media office said.

“Retailers in the emirate are encouraged to offer environmentally friendly reusable bags with a nominal fee to encourage positive behavioural change in the community, and support emirate-wide efforts for a greener future.”

There are exemptions for medicine bags, bag rolls for produce in supermarkets, rubbish sacks and large brand name shopping bags.

The restrictions come as the UAE prepares to host the COP28 global environmental conference in 2023, having set a target to become carbon neutral by 2050, in line with goals set by the COP26 conference in Britain last year.

Dubai, one of the seven other emirates that make up the UAE, has also announced it is ending the free provision of single-use plastic bags.

The decision is scheduled to come into force at the start of July.

Like its Gulf neighbours, the UAE’s economy is largely dependent on fossil fuels.

A report submitted to the World Government Summit in Dubai in February 2019 said the UAE consumes 11 billion plastic bags a year, the Environment Agency – Abu Dhabi has said.

Abu Dhabi is the capital and wealthiest of the seven emirates that make up the UAE.