ABU DHABI / WAM The Central Bank of the UAE (CBUAE), launched an AED100 billion comprehensive targeted economic support scheme for retail and corporate customers affected by Covid-19. These measures will enter into force with immediate effect, according to a CBUAE statement issued on Saturday. “Given that the World Health Organisation has declared Covid-19 virus as a global pandemic, the ...

Bloomberg Record lows, trading halts, capitulation and spending cuts made for a wild week in the energy sector after Saudi Arabia and Russia embarked on a war for market share, sending crude and equity prices in a downward spiral. The S&P 500 energy index never recouped the stunning losses it saw at the beginning of the week, despite the late-day ...

ABU DHABI / WAM The UAE has suspended, effective March 17, all visas to all foreigners, with the exception of diplomatic passport holders. In a statement released on Saturday, the Federal Authority for Identity And Citizenship (ICA) said: “The move comes as part of the precautionary measures taken by the UAE in response to the World Health Organisation’s declaration of ...

ABU DHABI / WAM The General Civil Aviation Authority (GCAA), announced the suspension of all inbound and outbound flights with Lebanon, Turkey, Syria and Iraq, with effect from March 17, and until further notice. The move is part of the country’s proactive precautionary and preventive health measures to contain the spread of the coronavirus (Covid-19), said the GCAA in a ...

Bloomberg Nizana Brautmann found out her 6-year-old son had been exposed to coronavirus via a note on the locked door of his Berlin daycare center. It told parents to take their kids home and wait. As the focus of the new pandemic shifts to Europe, authorities there have been slower to embrace the aggressive testing credited with helping to curb ...

Bloomberg The economic fallout from the coronavirus could be more serious than the damage done by the 2008 global financial crisis for Singapore, according to Prime Minister Lee Hsien Loong. “We can’t tell when the pandemic will end, but it will likely last at least this year, and quite possibly longer,” Lee said in a Facebook post. “The economic hit ...

Dubai / Emirates Business At the International Congress of Maritime Arbitrators (IMCA) held in Rio de Janeiro, Dubai was announced as the next city to host this prestigious biennial event in 2022/2023. In showcasing the benefits of the UAE as a preferred jurisdiction for alternative dispute resolution, The Emirates Maritime Arbitration Centre (EMAC) presented Dubai’s bid with the UAE to ...

AJMAN / Emirates Business Ajman Free Zone signed a memorandum of understanding (MoU) with the Saudi German Hospital Ajman with the aim of providing health services to customers, investors, and employees. This step came as part of Ajman Free Zone’s efforts to provide services of various levels to customers and investors, to enable them to run their business easily and ...

DUBAI / WAM The UAE government will be activating remote work for a segment of federal government employees, effective from March 15 to March 26, and subject to renewal. The decision comes as a precautionary measure to the novel coronavirus and to safeguard the wellbeing of the community. Employees will be able to utilise the government’s technological systems and platforms ...

Dubai / Emirates Business Mohammed bin Rashid School of Government (MBRSG) has signed a Memorandum of Understanding (MoU) with Dubai Health Authority (DHA) to enhance academic cooperation and the exchange of knowledge with regards to policies, strategies, and management consulting. The agreement also seeks to train employees, hone their skills, develop research and studies, and organise discussion panels and workshops. ...