[SALMAN]

Ras al-Khaimah, one of the poorer emirates of the UAE, sits on the Strait of Hormuz, through which 40 percent of the world’s seaborne oil passes. Its Ras al-Khaimah Investment Authority (RAKIA) sovereign wealth fund has a portfolio of around $2 billion.

The emirate’s economy is based on industries like cement, pharmaceuticals and glass, and is building a regional manufacturing and shipping hub. Its gross domestic product accounts for 1.5 percent of the UAE’s economy.

The UAE federal government announced an official mourning period of a week with flags at half mast at government ministries and institutions.

Ras al-Khaimah local government offices will be closed for a week and those in the emirates of Sharjah, Fujairah, Ajman and Umm al-Quwain closed for three days from Thursday. – Reuters more.......



DUBAI: The ruler of Ras al-Khaimah, an emirate in the United Arab Emirates (UAE) federation, died Wednesday, with analysts foreseeing no impact on the political stability of the country despite a minor succession spat.

Sheikh Saqr al-Qasimi, believed to be in his late 90s, had ruled the northern emirate of Ras al-Khaimah for more than 60 years, dating back to before the UAE’s inception in 1971. He had been in hospital for several months.

His 54-year-old crown prince son, Sheikh Saud, has been named as the new ruler of the emirate, the state news agency WAM reported, with the Supreme Council, made up of the rulers of the UAE’s seven emirates, offering him their “full support.”

UAE Rulers offer funeral prayers for Shaikh Saqr



His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and their Highnesses Supreme Council Members, perform funeral prayers for Shaikh Saqr Bin Mohammad Al Qasimi

Source: Gulfnews & Dubainews

 

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Last edited by SALMAN; 10-28-2010 at 05:17 AM..

[safa]

nice sharing

 

[*NRB*]

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