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Delivered bright and early weekday mornings, this email provides a quick overview of top stories and need-to-know news Here is everything you need to know if heading … ""Dubai Government continues to monitor and offer support where necessary to help all of Dubai's business community during this time," a Dubai Chamber spokesman said in the hours after the survey's release.The coronavirus crisis follows a number of years of declining revenues for some of the emirate's most important sectors, primarily real estate and hospitality. Some 74% of travel and tourism companies said they expected to close in that time, and 30% of companies in transport, storage and communications expect the same fate. DUBAI, United Arab Emirates — A staggering 70% of businesses in Dubai expect to close their doors within the next six months as the coronavirus pandemic and global lockdowns ravage demand, a survey by the Dubai Chamber of Commerce revealed Thursday.The Chamber surveyed 1,228 CEOs across a range of sectors between April 16 and April 22, during the emirate's strictest lockdown period. Save and invest wisely to make your money work for you. This improvement was mainly due to the government stimulus package announced in March. CORONAVIRUS is continuing to climb in Dubai as there are now 98 confirmed cases across the UAE. "A Dubai Chamber spokesman later on Thursday qualified some of the survey's results, saying in a statement that "Dubai Chamber surveyed 1228 out of 245,000 companies in Dubai in April when the lockdown measures were in the most strict phase ... their sentiments were based on the expectation that the strictest lockdown phase would be prolonged.

Both on your website and other media. Most hotels sit empty and tourism is nonexistent: there have been no inbound passenger flights for non-UAE nationals since March 24. Dubai, which has one of the most diversified and non-oil dependent economies in the Gulf, relies on sectors like hospitality, tourism, entertainment, logistics, property and retail. Nearly three-quarters of those surveyed were small businesses with fewer than 20 employees. Data is a real-time snapshot *Data is delayed at least 15 minutes. Password should have minimum 7 characters with at least one letter and number Last name is required. A senior official with the UAE Ministry of Health … © Al Nisr Publishing LLC 2020. The four people in UAE who were confirmed to have been infected yesterday are in quarantine. To find out more about the cookies and data we use, please check out our "Got a confidential news tip? "In late March the Dubai government announced a 1.5 billion dirham ($408 million) stimulus package aimed at enhancing liquidity and cushioning the blow of the virus lockdowns, which included a raft of fee refunds and reductions, and reduced utility costs. The Chamber's report warned: "The impact of COVID-19 crisis on the world economy during 2020 is projected to be greater than the 2008-09 financial crisis. These cookies are used to improve your experience and provide more personalized service to you. The double-shock impact is pushing economic activity down to levels not seen even during the financial crisis," the Dubai Chamber wrote in its report released Thursday, entitled "Impact of Covid-19 on Dubai Business Community. Of the respondents, more than two-thirds saw a moderate-to-high risk of going out of business in the coming six months: 27% said they expected to lose their businesses within the next month, and 43% expect to go out of business within six. Please enter your email address.

But the global pandemic will likely exact a toll on Dubai far greater than the downturn of a decade ago. Please enter a valid email address. "I so far think we're looking at a minimum population contraction of 10% for the year," Nasser al-Shaikh, former director general of the Dubai government's department of finance, tweeted earlier this month.The Dubai Chamber added in its report: "Though this is a temporary shock for most markets – with recovery to gradually kick in as soon as restrictions are eased – trade with GCC markets is particularly challenging as they suffered double oil price / COVID-19 shocks.

"But amid the current uncertainty, businesses in UAE's seven emirates, as elsewhere across the world, are slashing salaries, putting employees on unpaid leave, and reducing staffing levels.The UAE has just over 26,000 confirmed coronavirus cases, with 233 deaths as of Thursday.

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