News-letter-2

UAE sets up Humanitarian City healthcare hub to deal virus patients
The establishment of a preventative health Centre in UAE has been announced on 7th March to provide 24-hours healthcare for all the Arab people evacuated from Wuhan, the epicenter of COVID-19 outbreak.
To Continue reading  click  here
https://www.arabianbusiness.com/
healthcare/442233-uae-sets-up-special-humanitarian-city-healthcare-hub-to-deal-with-virus-patients/
47% of Middle East businesses experience customer fraud – PwC
Fraud and economic crime rates remain at record highs in the Middle East, impacting companies in more ways than ever, according to PwC.
To Continue reading  click  here
https://www.zawya.com/mena/en/legal/
story/47_of_Middle_East_businesses_
experience_customer_fraud__PwC-ZAWYA20200305053241/

Expo 2020 Dubai

Despite Coronavirus threat, Dubai Expo 2020 remains on track. Local authorities are closely working with International bureaus for preparation as this will boost their economy.   To  continue reading click here https://www.arabianbusiness.com/politics-economics/442227-expo-2020-dubai-plans-on-track-despite-coronavirus-threat

 

Major Abu Dhabi aerospace summit postponed until June due to coronavirus.
A major aerospace summit in Abu Dhabi this month has been postponed until June because of the coronavirus, according to an email sent to participants.
To continue reading, click here
https://www.nasdaq.com/articles/abu-dhabi-aerospace-conference-postponed-due-to-coronavirus-2020-03-05
Saudi Arabia restricts entry for Emirati, Kuwaiti, Bahraini
visitors
Temporary restriction has been made on entry of Emirati, Kuwaiti, and Bahraini national into Saudi Arabia to fight against coronavirus (COVID-19).
To continue reading, click here
https://www.arabnews.com/node/
1637971/saudi-arabia

NMC says sorry for salary delay, pledges to correct
issue soon
Troubled Abu Dhabi-based NMC Health has failed to pay staff wages for February on time. A company spokesperson told “The Company’s current expectation is that the February payroll will be completed before March 16.”
To continue reading, click here
https://www.khaleejtimes.com/business/
corporate/nmc-says-sorry-for-salary-delay-
pledges-to-correct-issue-soon

Oil prices drop 31% in worst loss since Gulf War as price fight erupts
Another shockwave is about to rip through a world economy already reeling from the coronavirus. The oil prices crashed to 30 percent.
To continue reading, click here https://economictimes.indiatimes.com/
markets/commodities/news/oil-drops-31-in-
worst-loss-since-gulf-war-as-price-fight
-erupts/articleshow/74544022.cms

Bahrain banks banned from freezing accounts after job loss
Bahrain’s central bank has banned retail lenders from freezing accounts of customers who lost their jobs or after retirement..
To continue reading, click here https://www.thenational.ae/business/money/
bahrain-s-central-bank-bans-freezing-of
-accounts-after-job-loss-1.990156

Kuwait sets up $33m fund to tackle spread of coronavirus
The $33 million fund has been announced by the governor of the Central bank Kuwait to tackle the spread of the coronavirus.
To continue reading, click here https://www.arabianbusiness.com/banking-finance/442406-kuwait-sets-up-33m-fund-to-tackle-spread-of-coronavirus
Revealed: the impact of coronavirus on the UAE banking sector
The Central Bank of the UAE (CBUAE) requested that banks implement measures to counteract the effects of Covid-19, including rescheduling loans, offering temporary deferrals on monthly loan payments and reducing fees and commissions.
To continue reading, click here
https://gulfnews.com/business/banking/uae-central-bank-seeks-measures-to-mitigate-economic-impact-of-coronavirus-1.70051197
Muddy Waters founder calls new NMC Health debt
'a massive fraud'
The discovery that NMC “has at least $2.7 billion in undisclosed debt and no cash, is no longer just a fraud. It is a massive fraud,” Muddy Waters founder Carson Block said in an emailed statement.
To continue reading,click here
https://finance.yahoo.com/news/nmc-health-finds-2-7-184226666.html
Kuwait to suspend all flights from Friday over
virus
Kuwait will halt all commercial flights to and from the country starting Friday and until further notice, with the exception of cargo flights, state news agency KUNA reported on 11th March.
To continue reading,click here
http://english.alarabiya.net/en/News/gulf/
2020/03/11/Coronavirus-Kuwait-suspends-all-commercial-flights-from-Friday-until-further-notice.html

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