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Finance

GCC stocks slump after VAT hike in Saudi Arabia, record new Covid-19 cases

Anand Kumar - May 11, 2020 0

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...

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19 sailors dead after Iran warship hit by missile in training accident

Anand Kumar - May 11, 2020 0

Fars news agency quoted an unidentified military official as denying reports that the Konarak had sunk. One Iranian warship accidentally struck another with a missile during an exercise, killing 19 sailors and wounding 15 others, Iran's navy said on Monday. The incident took...

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UAE, Bahrain unlikely to follow Saudi in hiking VAT: Experts

Anand Kumar - May 11, 2020 0

In a surprise move on Monday, Saudi Arabia increased VAT threefold to 15 per cent and also suspended the cost of living allowance to increase revenues. The UAE and Bahrain are unlikely to follow Saudi Arabia in increasing value-added tax...

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Arab Coalition denies Houthi allegations that Saudi deported 800 Somalis to Yemen

Anand Kumar - May 11, 2020 0

This was an attempt to exploit the global coronavirus pandemic' The Coalition to Restore Legitimacy in Yemen said that Houthi claims that Saudi Arabia has deported 800 Somalis to Yemen, are "baseless and unfounded. According to the Saudi Press Agency, SPA,...

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Coronavirus: Your outstanding bank loan could lead to travel ban in UAE

Anand Kumar - May 11, 2020 0

Detention or a fine shall be imposed on anyone who gives a cheque without a sufficient and drawable balance. Question: I am an Indian expatriate living in the UAE. I have been jobless for the last two months. I have outstanding...

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Combating coronavirus: UAE announces its highest ever recoveries in a day

Anand Kumar - May 11, 2020 0

Dr Amna Al Dahak Al Shamsi, official spokesperson of the UAE Government, said 25 per cent of all Covid-positive patients have now recovered. The UAE has recorded 458 Covid-19 recoveries in a single day - its highest ever. This brings...

Dubai

Firefighters put out blaze at Expo Dubai 2020 site

Anand Kumar - May 11, 2020 0

Nobody was injured in the incident: Spokesperson. A minor fire broke out at the site of the Dubai Expo 2020 on Monday morning. The fire broke out because of welding work going on at the site, and was brought under control...

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Expat dies in UAE mountains on hiking trip, 2 missing women rescued

Anand Kumar - May 11, 2020 0

An investigation has been initiated into the incident. A 35-year old expat has died in the UAE while trekking in Khor Fakkan's mountains, Sharjah Police announced on Monday. In a statement posted on social media, the Sharjah Police said that it...

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Eid Al Fitr holidays announced for UAE public sector

Anand Kumar - May 11, 2020 0

Holidays will be from Ramadan 29 until Shawwal 3. The Federal Authority for Government Human Resources on Monday announced Eid Al Fitr holidays for the public sector in the country. According to the FAHR, holidays will be from Ramadan 29 until...

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Coronavirus: Indian expat leaving UAE ‘just to perform his mother’s last rites’

Anand Kumar - May 11, 2020 0

An emotional journey back home for the son, who is concerned about home quarantine and travel plans. Ramesh Kumar, an Indian expat in the UAE for 15 years, lost his mother back home on Saturday. Kumar is the only son...

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