UAE
Dubai Announces New Economic Aid, Bringing Total to $1.7 Billion

(Bloomberg) — The government of Dubai announced a new set of economic incentives on Saturday, as the city continues to fight off the fallout from the coronavirus pandemic.
The new package, worth 1.5 billion dirhams ($408.4 million), was revealed through the Twitter account of the emirate’s Crown Prince Hamdan Bin Mohammed. The new stimulus will be aimed at reinforcing liquidity in firms and reducing the cost of conducting business.
Part of the United Arab Emirates federation, Dubai is known as the business hub of the Middle East, attracting tourists and entrepreneurs from across the world. This year, S&P Global Ratings expects the city’s gross domestic product to contract 11% as its balance sheet deteriorates from subdued demand in the region and to a lesser extent relatively low oil prices.
The new package will also be targeted at refunding some hotel charges, and other payments, as well as canceling some fines and exempting private schools from fees to renew commercial and educational licenses until the end of the year.
The UAE has only recently lifted its overnight curfew and opened its borders for travel and tourism. The nation’s virus tally dropped to 473 new cases on Friday from a May peak of over 900.
-
Banking & Finance2 months ago
National Finance Reinforces Position as Partner for Growth, Offers a Comprehensive Product Suite to Support Customer Ambitions
-
OER Magazines2 months ago
OER, June 25
-
Energy2 months ago
Russian Energy Week from October 15-17, 2025 offers alternative formats of cooperation
-
Technology2 months ago
SPIEF 2025 showcases cutting-edge technologies and digital innovation through its Innovation Space initiative
-
OER Magazines4 weeks ago
OER, July 25
-
Energy2 months ago
The year 2025 is a special year for Oman and Russia as it marks 40 years of diplomatic relations between the two countries says HE Sergey Tsivilyov, Energy Minister of Russia
-
Education1 month ago
Russia offers diverse tourism and education opportunities: Sofia Malyavina
-
Alamaliktistaad Magazines4 weeks ago
Al-Iktisaad, July 25