Dubai Financial Market general index lost 2.5 per cent, while the Abu Dhabi bourse was down 1.2 per cent.
The UAE and other Gulf countries' stock markets slumped on Monday morning, hit by Saudi Arabia's decision to increase value-added tax...
Saudi Arabia made the announcement on Monday.
Saudi Arabia's government is suspending the cost of living allowance and raising the value added tax (VAT) threefold, as part of measures aimed to shore up state finances, which have been battered by low...
Carrier obtained government approvals to operate 90 repatriation flights over the past few weeks.
Budget carrier flydubai on Monday announced its passenger operations will remain suspended till June 4 as part of precautionary measures being implemented in response to Covid-19.
The carrier said...
Fiscal easing measures will be a relief for businesses struck by COVID-19 affliction
The world as we knew it has been turned drastically. Undeniably, the COVID-19 health crisis has been the biggest challenge in generations, and its far-reaching effects have...
EMs reel in triple shock - coronavirus crisis, tanking oil prices, stock market plunge
Dubai: While analysts largely warn that damage from social distancing will last for longer in most virus-ravaged emerging markets, some see this as an opportune time...
New card will be backed by a cash management account based on smartphones
San Francisco: After witnessing the success of Apple credit card, Samsung is now working on its own physical and virtual smart debit cards that will allow customers...
US private equity firm General Atlantic is considering investing about $850m to $950m
Reuters: Two more firms are eyeing a share of Reliance Industries Ltd’s $65-billion digital unit Jio Platforms, according to Bloomberg News, setting them up to be a...
Limited one-way flights from 12 destinations aimed at helping UAE residents return
ABU DHABI: Etihad Airways will be operating limited one-way flights to Abu Dhabi starting tomorrow (May 9) to enable residents to return to the UAE from different parts...
Dubai based Phoenix Global going into liquidation will cost banks quite a bit
Dubai: Banks in the UAE have exposures between $350 million to $400 million to Phoenix Group, one of the world’s biggest rice trading firms before it went...
Period of forced stay in India due to lockdown will not be counted for tax residency
Dubai: The Government of India has announced a much needed relief to non-resident Indians (NRIs) allowing them to keep out the period of their...
