Kuwait creating master plan to address demographic imbalance

Abu Dhabi: Amid the COVID-19 crisis and increasingly loud cries to address the demographic imbalance in Kuwait, a government committee presented parliament with a masterplan that could establish a 25 per cent population quota for foreigners and a 15-year cap on their living and working in the country. Parliamentary sources told Al Rai newspaper the plan, […]

Apple, YouTube put up $100 million for racial equality drive

Cupertino: Apple Inc. said it is launching a $100 million Racial Equity and Justice Initiative, adding to the company’s response to the police killing of George Floyd last month. YouTube made a similar announcement. Apple’s programme was announced by CEO Tim Cook. “Things must change, and Apple’s committed to being a force for that change,” […]

UAE’s recovery may be mix of U- and V-shapes, says minister

The United Arab Emirates economy will likely witness a combination of a U- or V-shaped recovery following the coronavirus pandemic, Dr. Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development, said. The country has a pipeline of Dh20bn ($5.4bn) of federal infrastructure projects, including Dh7bn for state-sponsored housing programmes, Abdullah Al Nuaimi, said in […]

Scars on global economy will not be healing soon, says IMF

Washington: The global economy is recovering more slowly than expected from the coronavirus pandemic and will bear lingering scars from the experience, according to the International Monetary Fund. The IMF is set to release economic growth projections June 24 that “will be, very likely, worse than what we had” in April, even as there remains […]