Representatives of family businesses met with Dubai government officials last month
In malls and retail outlets, the refund and return of goods and the use of fitting rooms is now permitted
Malls will be allowed to stay open longer but restrictions on children, elderly to continue
Its underlying EBITDA grew 4.7 per cent year-on-year to $171m in the first quarter of 2020
The kingdom has hiked its VAT rate from 5 per cent to 15 per cent starting July 1
The UAE government levied a 5 per cent VAT on goods and services in January 2018
The new online service has been activated in collaboration with the Abu Dhabi Department of Finance
In April, DSOA introduced several incentives for residents, startups, companies and commercial tenants located within buildings owned by the authority
The steps taken to shore up revenue and rationalise spending are valued at about SAR100bn in total
Its net loans stood at Dhs247bn and customer deposits at Dhs263bn as of the end of Q1 2020
The 10-year bonds yield 7.375 per cent, a substantial yield premium that has attracted more than $7.5bn so far
Facebook last month agreed to pay $5.7bn for a 10 per cent stake in the digital unit
Kuwait imposed a 24-hour curfew on Friday for the next 20 days to contain the spread of the pandemic
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