Business

08 July 2020; MEMO: Governor of Yemen’s Al Mahwit region, Saleh Sami, called on UAE Crown Prince, Mohammed Bin Zayed, to lift his hands off Yemen’s oil, gas and ports.

On Twitter, Sami wrote: “Oh, [Saudi-led] coalition, we do not want you to arm our army or maintain our security. We only ask [Mohammed] Bin Zayed to take his hands off our ports and stop preventing the export of our gas and oil through them.”

08 July 2020; MEMO: Ethiopian Prime Minister Abiy Ahmed said that his country will start filling the Grand Ethiopian Renaissance Dam’s reservoir, taking advantage of the upcoming rainy season, news agencies reported yesterday.

Filling the dam reservoir, Abiy said, will not harm Egypt.

08 July 2020; MEMO: One Lebanese woman asked for sugar, milk, and soap in exchange for a child’s dress. Another wanted canned goods in return for gym equipment.

A 65-year-old seamstress now exchanges her sewing services for food, because her clients can no longer afford to pay her.

Bartering on Facebook has become the last resort for some people in Lebanon, where a financial meltdown has sent prices skyrocketing this year.

07 July 2020; MEMO: A number of Kuwaiti banks have warned of millions of dollars in losses due to delays of repayments of loans amidst the outbreak of the coronavirus which is threatening the country’s economy, RT reported yesterday.

Kuwaiti National Bank, the largest bank in the country, said: “The total losses due to delayed instalments by customers, housing and credit card repayments are expected to hit 130 million dinars [$422.5 million].”

07 July 2020; MEMO: The German government’s Commissioner for Tourism, Thomas Bareiss, said Monday that tourism with Turkey will resume soon.

Bareiss told German broadcaster NTV that “every country should be treated fairly and I am pretty confident that tourism activity between Turkey and Germany will resume soon”.

New Delhi, Jul 7 (PTI) India's Global Real Estate Transparency Index ranking has improved by one notch to 34 on the back of regulatory reforms, better market data and green initiatives, according to property consultant JLL.

India was ranked 35th in the index during 2018 bi-annual survey, while the country was at 36th position in 2016 and 39th in 2014.

The country's real estate market is currently placed in the 'semi-transparent' zone.

Miami, Jul 7 (AP/PTI) Hospitals rapidly approached capacity in Florida and Texas, and the Miami area closed restaurants again Monday because of the surging coronavirus, as the US emerged from a Fourth of July weekend of picnics, pool parties and beach outings that health officials fear could fuel the rapidly worsening outbreak.

Hong Kong, Jul 7 (AP/PTI) TikTok said Tuesday it will stop operations in Hong Kong, joining other social media companies in warily eyeing ramifications of a sweeping national security law that took effect last week.

The short-form video app's planned departure from Hong Kong comes as various social media platforms and messaging apps including Facebook, WhatsApp, Telegram, Google and Twitter balk at the possibility of providing user data to Hong Kong authorities.

06 July 2020; MEMO: A $15 billion railway connecting the Gulf States is expected to begin operating in 2023, following almost twenty years of stalling and uncertainty, Saudi newspaper Al-Jazirah has revealed.

06 July 2020; MEMO: Saudi Arabia has set aside 3.5 billion riyals ($933 million) to support 480,000 of its citizens working in the private sector and who are struggling as a result of uncertainty stemming from the coronavirus.

The Governor of the General Organisation for Social Insurance (GOSI), Sulaiman Al-Gwaiz, said in a statement yesterday that the initiative to support workers in the private sector comes within government initiatives to mitigate the financial and economic burdens caused by the pandemic.