Approximately 98 per cent of companies in Abu Dhabi are SMEs, contributing 29 per cent of the emirate’s GDP and 44 per cent of its non-oil economy
Customs transactions in Dubai reach 4 million in Q1 2020, up 60 per cent year-on-year
A self-clearance service will allow companies to clear shipments themselves without resorting to customs brokers
The Al Habtoor Group owns seven hotels in Dubai as well as car dealerships, residential properties and schools
These individuals are also not allowed to enter retails stores outside shopping centres
The measures include restructuring loans and postponing the payment of government fees
Currently, digital wallet and credit card payments are available while direct bank debit will subsequently be added to the platform
The decision also allows companies to terminate employee contracts after six months of the coronavirus pandemic period
The committee explored ways to further facilitate food trade and distribution, diversify import sources, support local food production and reduce food waste
It has also offered a 20 per cent reduction on licence fee renewals as part of its economic stimulus package
The initiative, which was in place from April 1-30, permitted residency violators to leave the country without paying any fines
He also ordered an emergency plan to be formulated to increase the productivity and competitiveness of the country’s medical sector
A recent ruling in a French court qualified the Covid-19 pandemic as a force majeure event
The PIF is looking into “any opportunity” arising from the economic wreckage of the crisis
As companies across the GCC tackle the challenges posed by the Covid-19 pandemic, regional business leaders reveal insights on what their organisations are doing and offer advice on how to deal with the current crisis
He added that state oil revenue has decreased by more than half, and non-oil revenue will decrease as well
The London-listed company, Finablr, had a market value of GBP77m when it was halted from trading in March, down from a peak of GBP1.5bn in December
Employers must abide by the Ministerial Decree No. 739 of 2016 that safeguards employees’ wages and which mandates that employment contracts are honoured
The sovereign wealth fund is estimated to have about $580bn under management
Waha Capital posted a loss of Dhs616m for 2019
Super 98 petrol will cost Dhs1.91 per litre, while Special 95 is priced at Dhs1.80 per litre
Meanwhile, the value of total assets of the UAE’s largest bank rose 14 per cent to Dhs835bn
Nearly 65 per cent of British Business Group members say they need more clarity on the UAE government schemes available to them
The emirate raised Dhs1bn through a private placement of eight-year Islamic bonds at a rate of 4.71 per cent earlier this month
For existing licence holders, the new fee will apply at the time of renewals
Egypt has reported 4,319 cases of the coronavirus, including 307 deaths
Lack of labour availability, disrupted supply chains and other impacts will require serious appraisal if organisations are to effectively deliver their reshaped services to customers
Prior to the pandemic, the plant had been mostly targeting Europe for sales of low-sulfur diesel and jet fuel
DAFZA will also cancel fines issued to companies
The new directives will remain effective from April 21 – July 31, 2020