As the pandemic forced factories all over the world to shutter and people to stay home, the global economy has plummeted and oil prices have dropped by almost half since the start of the year
High unemployment, lack of progress in reducing carbon emissions and exacerbated inequalities are all possible side effects of the pandemic
Oman has resorted to spending cuts to stabilise public finances
The Business Registration & Licencing (BRL) sector also recorded a 62 per cent increase in auto renewal transactions during the first four months of 2020, compared to the same period in 2019
Bullion has surged 16 per cent this year as the spread of the virus curbed economic growth
PIF is in need of capital as it embarks on an investment spree that has seen it build stakes in some of the world’s largest companies since the start of the coronavirus pandemic
It added that Reuters published the story without verifying the trustworthiness of its source
The PIF is looking into “any opportunity” arising from the economic wreckage of the crisis, its governor said in April
Brent crude is currently trading at around $30 a barrel, about half the level it was when Saudi Arabia announced its budget in December
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