COVID-19


Pandemic Causes Bahrain's GFH H1 Profits To Slide By Almost 58%

Middle East Business News - Published date: .

Profits fell from $48.43m last year to $20.39m as a result of Covid-19 and slower markets Read more

UAE's Waha Capital Eyes Latin America Tourism Boost After $50m Investment

Middle East Business News - Published date: .

CEO Amr Al Menhali says confident that investment will help put Waha on a firm footing post COVID-19 Read more

UAE Central Bank Unveils Further Measure To Boost Banks' Capacity

Middle East Business News - Published date: .

Central Bank of the UAE said this easure will support the implementation of the already adopted TESS measures worth AED2... Read more

Saudi-backed Consortium Abandons Bid To Buy Newcastle United

Middle East Business News - Published date: .

Deal had been agreed to buy the club for $390m from current owner Mike Ashley in April Read more

Dubai FDI Continues Investment Push Online Amid Pandemic

Middle East Business News - Published date: .

A total of 34 webinars have been scheduled in 13 markets to woo investors through the end of the year Read more

Dubai Announces $408.4m Stimulus Package To Combat Coronavirus Slowdown

Middle East Business News - Published date: .

Latest amount brings total support provided by the government to $1.7bn throughout Covid-19 crisis Read more

Saudi Arabia Spends $57bn To Soften Economic Blow Of Covid-19

Middle East Business News - Published date: .

Over 650,000 people have directly benefited from the measures, according to the kingdom's Ministry of Finance Read more

Dubai Business Conditions Show Signs Of Improving As City Emerges From Lockdown

Middle East Business News - Published date: .

IHS Markit's Purchasing Managers' Index said output grew for the first time in four months at 'a solid rate' Read more

Investment Opportunities Exist In Covid-19 Crisis, Insists Ithmar Capital Founder

Middle East Business News - Published date: .

Faisal Bin Juma Belhoul said the current economic turmoil is 'deja-vu' from time of financial crash Read more

UAE's Network International Plans Saudi Expansion Post-Covid

Middle East Business News - Published date: .

The company expects yearly revenues to be down 17% to 20% in the 2020 fiscal year Read more

ECB's Lagarde Says 'probably Passed Lowest Point' Of Economic Crisis

Middle East Business News - Published date: .

European Central Bank chief Christine Lagarde said the hardest hit industries - such as airlines, hospitality and entert... Read more

UAE Shoppers Opting For Contactless Payments Over Cash Purchases

Middle East Business News - Published date: .

Survey from Dubai Police, Dubai Economy and Visa revealed 71% are using digital payments over cash in stores Read more

Rakbank Reduces Credit Card Limit To AED5,000 As Covid-19 Bites

Middle East Business News - Published date: .

The bank saw a 43% drop in profit in Q1 and said the limit cap is part of its risk monitoring activity Read more

Dubai Healthcare City Authority Reveals Business Relief Package

Middle East Business News - Published date: .

Package designed to reduce financial impact of Covid-19 pandemic Read more

$1m Equity-free Grant Launched To Support Struggling Start-ups Amid Covid-19

Middle East Business News - Published date: .

Fund by Sharjah-based Sheraa will replace budget for its annual events which have been cancelled in line with safety mea... Read more

Oman Tells Banks To Free Loan Repayments For Three-months

Middle East Business News - Published date: .

The decision will come into effect in May. Read more

UAE's FTA Extends Deadline For VAT Filings, Payments

Middle East Business News - Published date: .

The move is valid for the tax period ending March 31 Read more

MPs In Lebanon Approve $120m Loan From World Bank To Fight Covid-19

Middle East Business News - Published date: .

Three-day parliament sitting held in Beirut conference hall amid anti-government protests outside Read more

Bahrain Announces 30% Budget Cuts, Projects Rescheduled

Middle East Business News - Published date: .

It has also been agreed to reschedule a number of construction and other projects to meet emergency costs of curtailing ... Read more

Emirates NBD's Q1 Profit Drops As It Sets Aside $700m In Covid-19 Provisions

Middle East Business News - Published date: .

Emirates NBD, Dubai's largest bank, reported a 24% drop in its first-quarter profit Read more