Dubai wants to hear businesses concerns on COVID-19 fallout

Dubai: Dubai has launched an online survey to get feedback from local businesses on the level of disruption they are facing as a result of COVID-19. The survey, launched by Dubai Economy (formerly Department of Economic Development) and its findings could come in handy as and when Dubai comes up with additional relief/stimulus packages. Among […]

Saudi Arabia puts a tight lid on spending, employee allowances

Riyadh: Saudi Arabia has tripled its VAT (value added tax) rate and suspended a cost of living allowance for state employees, thus seeking to shore up finances hit hard by low oil prices and a coronavirus-driven slowdown. “The cost of living allowance will be suspended as of June 1 and the value added tax will be […]

Kuwait must ‘rationalise’ government expenditure, says Emir

Kuwait City: The sharp decline in oil prices, investments and other assets will have a negative impact on Kuwait’s economy, the Emir said in a televised address. Sheikh Sabah Al Ahmed Al Sabah called on political parties to create a programme meant to rationalize government expenditure and reduce dependence on a single commodity in order […]