Saudi Arabia’s decision was followed by announcements of additional production cuts by UAE and Kuwait. UAE is set to decrease its oil production by another 100,000 bpd, while Kuwait will cut its oil …
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Moelis & Co granted advisory licence in Saudi Arabia -CMA
U.S. investment bank Moelis & Co MC.N has been granted an advisory licence by Saudi Arabia, the Capital Market Authority said on Tuesday, in a move that will enable the boutique firm to secure more …
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Saudi Aramco First-Quarter Net Profit Slides 25% as Oil Prices Tumble
Saudi Arabian state oil giant Aramco on Tuesday reported a 25% fall in first-quarter net profit, missing analyst estimates, but its quarterly dividend was in line with a plan for a $75 billion base …
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Crypto Under Corona
How’s the global crypto community coping during the COVID-19 crisis? Jeff Wilser checks in with groups in seven locations.
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Combating coronavirus: Sharjah Central Souq reopens with strict health measures
The Sharjah Municipality announced the resumption of commercial activities in Sharjah Central Souq from Tuesday, My 12. It has spelt out strict preventive measures and health requirements for the …
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Coronavirus: UAE has more than enough food to meet the needs of its people
Omar Bushahab, Chairman of the Dubai Food Security Committee, told Gulf News, “The UAE maintains robust strategic long-term stocks of vital food commodities that are more than adequate to meet local …
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Combating coronavirus: UAE businesses seek VAT waiver for a year to stimulate demand
Private and family owned businesses in the UAE have requested the government to waive off value-added tax (VAT) for six months to one year in order to help stimulate demand in the economy. A letter …
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UAE e-commerce sector thriving during pandemic: Euromonitor study
E-retail companies in the UAE have succeeded despite the challenges of high demand due to the spread of Coronavirus (Covid-19) and disruption of supply chain worldwide, said the Dubai Chamber of …
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1,000 food baskets handed out to the poor in UAE
Dar Al Ber Society branch in the emirate of Ras Al Khaimah has contributed up to 1,000 baskets containing 20 different food items to the poor and low-income people in Ras Al Khaimah. Ali Abdullah Al …
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Coronavirus: Goans in the UAE seek direct repatriation flights to their state
Stranded Indians from Goa have sought direct repatriation flights to their state in India. Hundreds of them from the country’s southwestern coast have registered with Indian missions in the UAE to …
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Dubai businesses ask for more state help to survive coronavirus
Dubai’s private sector has proposed new government interventions including state subsidised loans, assistance in covering salaries and lower taxes, to help businesses survive the economic fallout from …
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Al Mazaya Holding unit sells Dubai property for $21m
A major player in the region, Al Mazaya provides a wide spectrum of real estate products and services – from purchasing, apportionment and developing of large areas in select zones to offering …
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RTA Dubai achieve new records, saving 45 million gallons of water, 30 million litres of fuel
Dubai’s Roads and Transport Authority (RTA) has revealed record-breaking results thanks to its green initiatives in 2019, not only saving in water, fuel and electricity, but also reducing its carbon …
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UAE Bank Opens Bangladesh Remittance Corridor Using Ripple’s Blockchain Tech
United Arab Emirates-based retail and business bank RAKBank is expanding its remittance routes to Bangladesh using Ripple’s blockchain technology.
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Dubai turns world’s tallest building into coronavirus charity box
The world’s tallest building, Dubai’s 828-metre Burj Khalifa, has become a glowing charity donation box, raising money for food for United Arab Emirates residents suffering the economic impact of the …
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Coronavirus: UAE announces 783 new Covid-19 cases, 631 recoveries, 2 deaths
The Ministry of Health and Prevention on Tuesday announced 783 new cases of the Covid-19 coronavirus. 631 cases of recovery and two deaths were also announced. The UAE has been seeing a steady rise in …
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Al Mazaya’s unit sells property in Dubai for $21mln
A UAE-based subsidiary of Al Mazaya Holding has signed a contract for the sale of a property in Dubai, with the price value to be paid in cash and in-kind. Upon completion of the sale procedures, the …
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