Dubai: A majority of UAE businesses – 56 per cent – are bracing for a drop in revenues by more than 75 per cent in the second quarter, with those in the travel and tourism space the worst affected. Disruption in cashflow and being cut-off from access to customers in the UAE remain the biggest […]
San Francisco: Apple and Google on Wednesday released long-awaited smartphone technology to automatically notify people if they might have been exposed to the coronavirus. The companies said 22 countries and several US states are already planning to build voluntary phone apps using their software. It relies on Bluetooth wireless technology to detect when someone who […]
Abu Dhabi: The global economy is likely to recover from this year’s virus-driven recession with 5 per cent growth in 2021, according to a top official at Abu Dhabi’s $220 billion wealth fund. The most likely outcome following the economic crisis sparked by the coronavirus is a “U-shaped” rebound, meaning there will be some stagnation before […]
Kuwait City: Crisis economics gets complicated when the budget deficit could be equivalent to two-fifths of a nation’s entire output. It’s the case in Kuwait, among the world’s richest nations, which has so far mustered one of the smaller packages of fiscal stimulus among Gulf economies. A government announcement this week that could result in […]
Since March, restaurants in the UAE have been closed following the outbreak of the Covid-19 pandemic. As outlets cautiously reopen — albeit at 30 per cent capacity and in accordance with physical distancing rules — many of our dining habits have evolved significantly over the past months. Phrases such as contactless delivery have become commonplace […]
London: The UKÂ is headed into a recession unprecedented in scale, Chancellor of the Exchequer Rishi Sunak warned on Tuesday as he laid bare the extent of the economic cost of the coronavirus. “We are likely to face a severe recession, the likes of which we haven’t seen,” Sunak told the House of Lords Economic Affairs […]
The tests provide 85 to 90% accurate results and 4% false-positive cases.
Firings to be broadcast on TV as public will not be allowed on the premises.
Al Tayer thanked the Ruler for ordering the distribution of bonuses worth Dh51 million in 2019.
New Delhi: On the night of May 12, India’s Prime Minister Narendra Modi set the nation of 1.3 billion people abuzz with promises of unleashing a massive stimulus to shore up an economy facing its deepest recession in decades. A week later and after five drawn-out press conferences by his Finance Minister Nirmala Sitharaman, the […]