According to the recent article on The Business Corridor, published by alliedmedia, Investments contribute 25% of Dubai's Income. The news article further goes on to say that all the various depts will follow accrual-based accounting systems by the end of the year with 14 depts are at various stages of implementation. The aim is to get an S&P rating for dubai government. The news is ofcourse from Dept of Finance in govenment of Dubai. The director general further goes on to say that on the income side, divident contributions from investments in 20 companies account for 25% of the total income of the government.
The website of the magazine is published as www.thebusinesscorridor.com; however, i was not able to open their site.
In related news, Dept of finance is set to launch AED 12 Billion term loan/bond issue soon with the help of some 5 local and international banks. (Full article also in the magazine)
I believe the magazine is available in newspaper stands now.
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