Dubai Holding and Meraas launched a Dh1 billion relief package to support businesses and customers across their portfolio of companies affected by the coronavirus.
The economic package is designed to partially alleviate the burdens encumbered by some of the businesses or people within the Dubai Holding and Meraas umbrella, the companies said on Tuesday.
“We have directed our teams at Dubai Holding and Meraas to ensure that we provide relief to those impacted customers whether they are companies or individuals by the outbreak of Covid-19. We believe that it is our social and economic responsibility to stand with affected partners during such unprecedented times,” said Sheikh Ahmed bin Saeed Al Maktoum, chairman of Dubai Holding and Meraas.
The companies have established task forces to look at the specific requirements on a case-by-case basis to ensure that support is made available.
Dubai Holding owns hospitality company Jumierah Group and developer Dubai Properties. It also has interests in retail, media and freezones. Meraas operates a number of retail destinations in Dubai such as Boxpark, La Mer and Last Exit, and also has interests in real estate.
The latest move by the entity comes as central banks and governments worldwide take monetary measures and roll out stimulus packages to shore up economies that have been hit by the disruption to global trade and freedom of movement by the pandemic. Countries have imposed restrictions on movement or have locked down areas to contain the coronavirus.
The outbreak is the biggest challenge to the global economy since the 2008 financial crisis and has wiped at least $17 trillion from stock markets worldwide. Global supply chains, tourism and aviation have come to a virtual standstill and plunging oil prices have added to the pressure.
The Central Bank of UAE rolled out a Dh100bn stimulus package this week to offset the impact of coronavirus. As part of this scheme, the central bank will provide Dh50bn through collateralised loans at zero cost to all banks operating in the country.
Both Abu Dhabi and Dubai also have revealed additional stimulus measures to ease the costs for businesses that have been hit by the virus.
UAE currency: the story behind the money in your pockets
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
Killing of Qassem Suleimani
Company%20Profile
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Profile of RentSher
Started: October 2015 in India, November 2016 in UAE
Founders: Harsh Dhand; Vaibhav and Purvashi Doshi
Based: Bangalore, India and Dubai, UAE
Sector: Online rental marketplace
Size: 40 employees
Investment: $2 million
Results
2pm: Maiden (TB) Dh60,000 (Dirt) 1,200m, Winner: Mouheeb, Tom Marquand (jockey), Nicholas Bachalard (trainer)
2.30pm: Handicap (TB) Dh68,000 (D) 1,200m, Winner: Honourable Justice, Royston Ffrench, Salem bin Ghadayer
3pm: Handicap (TB) Dh84,000 (D) 1,200m, Winner: Dahawi, Antonio Fresu, Musabah Al Muhairi
3.30pm: Conditions (TB) Dh100,000 (D) 1,200m, Winner: Dark Silver, Fernando Jara, Ahmad bin Harmash
4pm: Maiden (TB) Dh60,000 (D) 1,600m, Winner: Dark Of Night. Antonio Fresu, Al Muhairi.
4.30pm: Handicap (TB) Dh68,000 (D) 1,600m, Winner: Habah, Pat Dobbs, Doug Watson
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
Killing of Qassem Suleimani
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
Look%20Both%20Ways
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Museum of the Future in numbers
- 78 metres is the height of the museum
- 30,000 square metres is its total area
- 17,000 square metres is the length of the stainless steel facade
- 14 kilometres is the length of LED lights used on the facade
- 1,024 individual pieces make up the exterior
- 7 floors in all, with one for administrative offices
- 2,400 diagonally intersecting steel members frame the torus shape
- 100 species of trees and plants dot the gardens
- Dh145 is the price of a ticket
Ipaf in numbers
Established: 2008
Prize money: $50,000 (Dh183,650) for winners and $10,000 for those on the shortlist.
Winning novels: 13
Shortlisted novels: 66
Longlisted novels: 111
Total number of novels submitted: 1,780
Novels translated internationally: 66
Hamilton profile
Age 32
Country United Kingdom
Grands Prix entered 198
Pole positions 67
Wins 57
Podiums 110
Points 2,423
World Championships 3
Mohammed bin Zayed Majlis
MATCH INFO
Uefa Champions League semi-final:
First leg: Liverpool 5 Roma 2
Second leg: Wednesday, May 2, Stadio Olimpico, Rome
TV: BeIN Sports, 10.45pm (UAE)
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
