Abu Dhabi boosts local businesses with Dh15b in tenders

Abu Dhabi: The Abu Dhabi Department of Economic Development (ADDED) on Wednesday said it was opening 1,244 government tenders for businesses in the private sector as it looks to inject growth into the economy. The total worth of the contracts according to ADDED is Dh15 billion and comes as part of their ‘Abu Dhabi Local […]

COVID-19 exit: UAE economy can expect a second-half bounce

Abu Dhabi: The UAE’s stimulus package should start seeing results from the second-half of the year… but until then, the economy will have some serious adjustments to go through. “We expect to see a sharp contraction for the second and third quarter GDP combined,” said Alain Marckus, Managing Director at First Abu Dhabi Bank. But […]

Japan comes out with $994b stimulus to ease virus worries

Tokyo: Japan has announced a record 108.2 trillion yen ($994 billion) stimulus package to shield the economy from the coronvirus’ widening fallout as Prime Minister Shinzo Abe declares a state of emergency. The package’s size – equivalent to 20 per cent of the nation’s annual economic output – highlights the magnitude of the damage that […]