Dubai Economic Council proposes visas without sponsor for skilled expats

[email protected] (Emirates24|7)
April 13, 2015

Abu Dhabi, Apr 13: Government advisory body Dubai Economic Council (DEC) has recommended a host of measures including the introduction of a state pension scheme for foreign skilled workers, visas for highly skilled expats without a sponsor, and easing foreign ownership restrictions in selected industries.

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In a media note issued on Saturday, the advisory body said it has proposed a five-policy package for sustainable growth of financial and other sectors in Dubai.

Among the major recommendation made by DEC in cooperation with professional services firm Deloitte, it advised doing away with caps on mortgage amounts, easing retirement visa restrictions, easing criminal implications of bankruptcy and of bounced cheques, easing residency rights process and ease of travel within the GCC, and allowing issuance of visas for high skilled expatriates that meet specific requirements without the need of a sponsor.

As part of confidence boosting measures, it advised that pension scheme for skilled expat workers, easing retirement visa restriction could help attract more investments in to the local market and support financial stability of the capital market.

Emirates 24l7 had reported in October 2014 that the government is currently in discussion to launch a federal pension scheme for expatriates. A number of private banks and financial entities offer pension schemes to expats and UAE nationals.

“Dubai has recorded significant success by implementing a number of modern regulations and institutions over a relatively short period of time. Dubai has surpassed its regional neighbours with regards to its institutional efficiency and quality, however opportunities for improvement exist to reach the level of global leaders such as Singapore and Hong Kong,” DEC said in a note on Saturday.

Among the key recommendations that DEC made:

- Easing foreign ownership restrictions in selected industries of non-national strategic importance;

- Easing trading restrictions for companies in free zones to support trading in mainland Dubai;

- Easing the criminal implications of bankruptcy and of bounced cheques;

- Alignment of arbitration regulation to international standards;

- Easing residency rights process and ease of travel within the GCC;

- Allowing issuance of visas for high skilled expatriates that meet specific requirements without the need of a sponsor

Recommendations for SMEs and equity markets DEC recommended the introduction of government funding, loan schemes and loan guarantee schemes to support small and medium enterprises (SMEs) that meet specific criteria with funding of working capital requirements and expansion of facilities.

It has also sought enhancing the national credit bureau by implementing an electronic register to track collaterised assets and loans given to businesses to provide creditors with better information to manage risk. This could assist banks in making lending decisions and ensuring only credit worthy borrowers are extended finance.

DEC advised that the companies’ should be allowed to use moveable assets such as equipment as collateral for financing in to boost the SME sector.

The report recommended developing the derivatives market to add benefits of diversification and risk management opportunities for investors; the introduction of mortgage-backed securities could allow banks to manage exposure to the real estate market; developing Dubai's capability as a regional clearing and settlement centre for Chinese Yuan transactions could enhance trading and improve market liquidity via increased Yuan denominated deposits in Dubai.

In order to preserve balance between asset quality, growth and liquidity, DEC has asked for new lending restrictions for Government Related Entities (GREs); issuance of guidelines on liquidity as of Basel III; increasing liquidity of capital markets through more IPOs; and implementation of already drafted regulation to allow for admission of mutual and exchange traded funds into Dubai’s capital market.

The advisory body also suggested that the government wealth funds should invest more in the local equities which would increase liquidity in the market. The report also sought easing foreign ownership levels of companies listed on the Dubai bourse to attract more investors and extended official trading hours to match international markets could help attract investment as well as increase market liquidity.

It also sought introduction of penalties for the listed companies for non-compliance, and also recommended permission of overdraft facilities for foreign investors.

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News Network
December 16,2025

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Melkar (Bantwal): The 9th Annual Day celebration of SMR Public School, titled “EXCELLENTIA”, was held on December 15 with great enthusiasm and dignity, marking a significant milestone in the institution’s journey towards academic excellence and holistic development.

The programme was inaugurated by Dr. U. T. Iftikar Ali. The chief guests were Dr. Akhtar Hussain, Mr. P. Moosabba Beary, Mr. Zakaria Jokattre, and Dr. T. M. Abdul Rahuf—whose inspiring addresses motivated the students and appreciated the school’s contributions to education.

Mr. Abdul Nasir, Mr. Ibrahim Gadiyar, Mr. Razak Golthamajal, Mr. Sali Koya, Mr. Arshad Hussain, Mr. Ismail Balanoor, Mr. Feroz Bawa, Mr. Sahul Hameed, Mr. Abubakkar, Mr. Hameed K. Mani, Mr. Abdul Majeed (Principal, Melkar Women’s College), and Mr. Abdul Lathief (Former Principal, Melkar Women’s College) were the guests of honour.

The Annual Report was presented by the Headmistress, Ms. Fathimathul Zaheera, highlighting the school’s achievements and progress during the academic year. The Presidential Address was delivered by the Chairman of SMR Public School, Dr. Haji S. M. Rasheed, who emphasised the vital role of education in shaping students’ futures and stressed the importance of discipline, dedication, and consistent effort in achieving 100 per cent academic results.

Secretary of SMR Public School, Mr. Rifath Ahmed, and PTA President, Mr. Sandeep Kumar, were also present on the occasion.

The Annual Day celebration showcased the collective efforts of students and teachers and reaffirmed the school’s commitment to quality education and all-round development. The programme concluded with a vote of thanks, expressing gratitude to all dignitaries, parents, and well-wishers for their support. The 9th Annual Day—EXCELLENTIA—was a memorable and successful event, leaving a lasting impression on everyone present. 

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News Network
December 7,2025

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Mangaluru, Dec 7: A rare bamboo shrimp has been rediscovered on mainland India more than 70 years after it was last reported, confirming for the first time the presence of Atyopsis spinipes in the country. The find was made by researchers from the Centre for Climate Change Studies at Sathyabama Institute of Science and Technology, Chennai, during surveys in Karnataka and Odisha.

The team — shrimp expert Dr S Prakash, PhD scholar K Kunjulakshmi, and Mangaluru-based researcher Maclean Antony Santos — combined field surveys, ecological assessments and DNA analysis to identify the elusive species. Their findings, published in Zootaxa, resolve decades of taxonomic confusion stemming from a 1951 report that misidentified the species as Atyopsis moluccensis without strong evidence.

The shrimp has now been confirmed at two locations: the Mulki–Pavanje estuary near Mangaluru and the Kuakhai River in Bhubaneswar. Historical specimens from the Andaman Islands, previously labelled as A. moluccensis, were also found to be misidentified and actually belong to A. spinipes.

The rediscovery began after an aquarium hobbyist in Odisha spotted a shrimp in 2022, prompting systematic surveys across Udupi, Karwar and Mangaluru. Four female specimens were collected in Mulki and one in Odisha, all genetically matching.

Researchers warn the species may exist in very small, vulnerable populations as freshwater habitats face increasing pressure from pollution, sand mining and infrastructure development. All verified specimens have been deposited with the Zoological Survey of India for future reference.

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News Network
December 17,2025

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Melkar, Dec 17: The 17th Annual Day and Graduation Ceremony of Melkar Women’s PU and Degree College, themed “Fusion-2K25,” was celebrated with dignity and enthusiasm, marking a significant milestone in the institution’s academic journey. The programme reflected the college’s steadfast commitment to academic excellence, character building, and the holistic development of students.

The event was inaugurated by Mr. Asif Mohammed, whose presence greatly enriched the occasion. The celebration was further graced by the chief guests Mr. P. B. Ahmed Mudassir and Mr. Nissar Fakeer Mohammed, along with the distinguished guests of honour Mr. B. A. Nazeer and Mr. Ibrahim Gadiyar. In their inspiring addresses, the guests encouraged the graduating students and appreciated the dedicated efforts of the management, faculty, and students.

The annual report was presented by the Principal, Mr. Abdul Majeed S, highlighting the institution’s academic progress, notable achievements, and extracurricular accomplishments during the academic year.

The presidential address was delivered by the esteemed Chairman of Melkar Women’s PU and Degree College, Dr. Haji S. M. Rasheed, who emphasized the vital role of education in empowering women and shaping responsible citizens. He also stressed the importance of discipline, dedication, and perseverance in achieving success.

Cultural programmes and academic recognitions formed an integral part of the celebration, showcasing the talents and achievements of the students. The graduation ceremony was a proud moment for the outgoing students as they were formally conferred degrees and wished success in their future endeavours.

Ms. Mashmooma Fathima served as the Master of Ceremonies. The welcome address was delivered by Ms. Fathima Nida, and the programme concluded with a vote of thanks proposed by Ms. Ayisha Suhana.

The event successfully achieved its objectives and was highly appreciated by the guests and attendees.

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