UAE

DUBAI (Reuters) - The United Arab Emirates (UAE) Ministry of Economy said on Sunday it was cutting fees for 94 of its services to reduce the cost of business and support the economy amid the coronavirus outbreak.

The decision includes fees related to management licenses, commercial agency registrations and trademarks.

The financial impact of the measures is estimated to have a value of 113 million dirhams ($31 million), the ministry said in a statement.

DUBAI (Reuters) - President Hassan Rouhani urged Iranians to respect health protocols to guard against the new coronavirus as “low-risk” economic activities resumed in most of the country on Saturday, state news agency IRNA reported.

So-called low-risk businesses will resume across the country from Saturday with the exception of the capital Tehran, where they will restart from April 18. Iran is the Middle Eastern country worst-affected by the highly infectious COVID-19 respiratory disease.

10 April 2020; MEMO: The Department of Finance at the United Arab Emirates (UAE)’s emirate of Dubai has informed all government agencies to reduce capital spending as an economic precautionary measure following the coronavirus outbreak.

DUBAI, United Arab Emirates (AP) — A proposed reduction in oil production by OPEC and other oil-producing countries including Russia involves a 10 million barrels per day cut until July, then an 8 million barrels per day cut through the end of the year, Saudi Arabia said Friday as the deal hung in the balance.

DUBAI/MOSCOW/LONDON (Reuters) - OPEC and Russia will discuss record oil output cuts on Thursday to support prices hammered by the coronavirus crisis but talks are complicated by internal disagreements and the reluctance of the United States to join in any action.

Global fuel demand has plunged as much as 30% as measures to fight the virus have grounded aircraft, reduced vehicle usage and curbed economic activity.

ABU DHABI, Apr 7 (NNN-WAM) – The Emirates Red Crescent (ERC), underlined the significant role played by its volunteering teams, in supporting national efforts, taken at the country level, to fight the COVID-19, in cooperation with other competent bodies.

DUBAI (Reuters) - Qatar’s ruler has asked the government to postpone $8.2 billion in unawarded contracts on capital expenditure projects due to the coronavirus outbreak, a bond prospectus seen by Reuters showed.

The spread of the coronavirus may continue to negatively impact the Qatari economy and financial markets and could lead to a recession, the Gulf state also said in the document, dated April 7.

Qatar on Tuesday started marketing a triple-tranche U.S. dollar-denominated bond.

06 April 2020; MEMO: The Bureau International des Expositions (BIE) has announced that the UAE has made an official request to postpone the Expo 2020 Dubai scheduled to take place in October due to the coronavirus outbreak. A twelve-month postponement has been requested.

DUBAI, Apr 6 (NNN-WAM) – Dubai imposed fines on 14 merchants, for inflating the prices of face masks, to exploit the rise in demand for hygiene essentials, following the nationwide alert against COVID-19.

The merchants fined for tampering with prices included nine pharmacies in Nad Al Hamar, Al Mizhar, Nad Hessa, Sheikh Zayed Road, Hor Al Anz, A Twar, Al Qusais, Umm Suqaim and Al Warqa, and five others, including two supermarkets and suppliers, said a statement issued by Dubai Economy on Sunday.

SHARJAH, Apr 5 (NNN-WAM) – Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, directed the Department of Islamic Affairs in Sharjah, not to bury any of the victims of COVID-19, in Al Saja’a area in Sharjah, and to confirm that none of the victims had been buried in the mentioned area or other areas in Sharjah.

The Ruler’s directives refute what a tendentious video clip, embedding that burial of COVID-19 victims, are taking place in the said area.