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    Africa’s Path to Food Security: Scaling Next-Gen Agriculture for a Sustainable Future

    Africa’s Path to Food Security: Scaling Next-Gen Agriculture for a Sustainable Future

    Egypt: Smart Agriculture Innovation Tackles Food Insecurity and Water Scarcity

    Egypt: Smart Agriculture Innovation Tackles Food Insecurity and Water Scarcity

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    Africa’s Food Security Hinges on Cold Chain Infrastructure

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    African Countries Urged to Boost Agricultural Funding

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    Qatar’s VFarms Sets Record with Solar-Powered Lettuce Grown from Air and Sunlight

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    MENA’s Processed Meat Market Set to Hit $62B and 17M Tons by 2035

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    Oman to Launch Nation’s First Camel Cheese Factory in Dhofar

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    Oman: Contributions of the AgriFish Fund to the fisheries sector

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    GCC Indoor Farming Market to Reach USD 1.43 Billion by 2029 Amid Rising Demand for Sustainable Agriculture

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      Egypt Finalizes Plans for Rail Link with Saudi Arabia, Paving Way for Transcontinental Trade Route

      Egypt Finalizes Plans for Rail Link with Saudi Arabia, Paving Way for Transcontinental Trade Route

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      Iraq Breaks Ground on $2B Fertilizer Complex in al-Anbar

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      World Bank Projects 4.7% GDP Growth for Lebanon in 2025 After Years of Decline

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      Iraq Unveils Two Major Industrial Projects in Basra

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      Oman Unveils USD 260 Million Investment in Logistics Sector

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      Iraq Rises to Fourth Largest Economy in the Arab World

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      Iraq’s GDP Grows 35% Amid Surge in Investment Spending

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      Empowering Oman’s Future: Turning AI Vision into Practical Impact

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      Oman’s Logistics Sector Gets $260 Million Boost with New Investment Deals

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        Project Lebanon 2025 Welcomes 15,000+ Visitors and 254 Exhibitors, Showcasing Global Solutions for Sustainable Development and Economic Recovery

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        Qatar’s Construction Sector Set to More Than Double by 2033 Amid Innovation and Infrastructure Boom

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        Iraq, Saudi Arabia, and Egypt Join Forces to Develop Economic City Near Baghdad

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        انطلاق فعاليات “بروجكت قطر 2025” بمشاركة 200 شركة محلية ودولية

        Project Qatar 2025 kicks off with the participation of 200 local and international companies

        Project Qatar 2025 kicks off with the participation of 200 local and international companies

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        Iraq Reports Major Breakthrough in Al-Faw Grand Port’s Underwater Tunnel Construction

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        Iraq Commissions $305M Steel Plant in Basra Amid Post-Conflict Construction Surge

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        Egypt’s TMG to Develop $4 Billion Mega Project in Oman

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        Oman to Add 62,800 New Homes by 2030 Amid Population Boom and Foreign Investment Push

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          Empowering Oman’s Future: Turning AI Vision into Practical Impact

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          Qatar’s Thriving Tech Sector Boosts GDP and Attracts Global Talent

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          Cisco VP: GCC Must Bridge AI Readiness Gap with Investment in Infrastructure, Skills, and Security

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          How AI Is Shaping the Workforce of Tomorrow

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          How AI and Digital Labour Are Reshaping the Future of Work in the Middle East

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          Why the Middle East’s AI Strategy Needs More Than Just Large Language Models

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          Middle East Businesses Ramp Up AI Investments as 91% Expect Productivity Gains

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          Driving Middle East Growth: Accelerating AI and Cloud Adoption for Smarter Governance

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          How AI Drives the Success of MENA’s Mega Projects

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            Iraq Launches Ambitious Plan for 1,000 Solar Projects in Three Years

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            Iraq and Power China International Sign Deal to Strengthen National Power Grid

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            Qatar Adds 875 MW in Solar Power, Boosts Renewable Energy Push

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            Oman Breaks Ground on $1.6 Billion Marsa LNG Project in Suhar

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            Iraq Targets 38,000 MW Power Boost with Siemens and GE Deals to Tackle Energy Shortages

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            Iraq Allocates $763.5 Million to Expand Residential Solar Energy

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            Al Bilal Group Secures Licenses for 525 MW Solar Projects in Iraq

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            Africa and Middle East Set to Add 2.9 GW of Onshore Wind Capacity in 2025

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              Qatar’s Tourism Sector Adds $14.9 Billion to GDP in 2024, Marks 14% Growth

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              Qatar Launches AI-Driven Health Tourism Strategy to Position Doha as a Global Medical Travel Destination

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              Middle East Hotel Construction Activity Rises 8% in Q1 2025

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              Qatar Leverages Sports to Fast-Track 2030 Tourism Goals

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              Baghdad Welcomes Major Hotel Opening Ahead of Arab Summit

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              Qatar Set to Welcome Record 5.3 Million Tourists in 2025

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              • Agrofood
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                Africa’s Path to Food Security: Scaling Next-Gen Agriculture for a Sustainable Future

                Africa’s Path to Food Security: Scaling Next-Gen Agriculture for a Sustainable Future

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                Egypt: Smart Agriculture Innovation Tackles Food Insecurity and Water Scarcity

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                Africa’s Food Security Hinges on Cold Chain Infrastructure

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                African Countries Urged to Boost Agricultural Funding

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                Qatar’s VFarms Sets Record with Solar-Powered Lettuce Grown from Air and Sunlight

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                MENA’s Processed Meat Market Set to Hit $62B and 17M Tons by 2035

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                Oman to Launch Nation’s First Camel Cheese Factory in Dhofar

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                Oman: Contributions of the AgriFish Fund to the fisheries sector

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                GCC Indoor Farming Market to Reach USD 1.43 Billion by 2029 Amid Rising Demand for Sustainable Agriculture

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                  Egypt Finalizes Plans for Rail Link with Saudi Arabia, Paving Way for Transcontinental Trade Route

                  Egypt Finalizes Plans for Rail Link with Saudi Arabia, Paving Way for Transcontinental Trade Route

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                  Iraq Breaks Ground on $2B Fertilizer Complex in al-Anbar

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                  World Bank Projects 4.7% GDP Growth for Lebanon in 2025 After Years of Decline

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                  Iraq Unveils Two Major Industrial Projects in Basra

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                  Oman Unveils USD 260 Million Investment in Logistics Sector

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                  Iraq Rises to Fourth Largest Economy in the Arab World

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                  Iraq’s GDP Grows 35% Amid Surge in Investment Spending

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                  Empowering Oman’s Future: Turning AI Vision into Practical Impact

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                  Oman’s Logistics Sector Gets $260 Million Boost with New Investment Deals

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                  • Construction
                    • All
                    • Infrastructure
                    • Real Estate
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                    Project Lebanon 2025 Welcomes 15,000+ Visitors and 254 Exhibitors, Showcasing Global Solutions for Sustainable Development and Economic Recovery

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                    Qatar’s Construction Sector Set to More Than Double by 2033 Amid Innovation and Infrastructure Boom

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                    Iraq, Saudi Arabia, and Egypt Join Forces to Develop Economic City Near Baghdad

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                    انطلاق فعاليات “بروجكت قطر 2025” بمشاركة 200 شركة محلية ودولية

                    Project Qatar 2025 kicks off with the participation of 200 local and international companies

                    Project Qatar 2025 kicks off with the participation of 200 local and international companies

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                    Iraq Reports Major Breakthrough in Al-Faw Grand Port’s Underwater Tunnel Construction

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                    Iraq Commissions $305M Steel Plant in Basra Amid Post-Conflict Construction Surge

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                    Egypt’s TMG to Develop $4 Billion Mega Project in Oman

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                    Oman to Add 62,800 New Homes by 2030 Amid Population Boom and Foreign Investment Push

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                    • Technology
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                      Empowering Oman’s Future: Turning AI Vision into Practical Impact

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                      Qatar’s Thriving Tech Sector Boosts GDP and Attracts Global Talent

                      Cisco VP: GCC Must Bridge AI Readiness Gap with Investment in Infrastructure, Skills, and Security

                      Cisco VP: GCC Must Bridge AI Readiness Gap with Investment in Infrastructure, Skills, and Security

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                      How AI Is Shaping the Workforce of Tomorrow

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                      How AI and Digital Labour Are Reshaping the Future of Work in the Middle East

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                      Why the Middle East’s AI Strategy Needs More Than Just Large Language Models

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                      Middle East Businesses Ramp Up AI Investments as 91% Expect Productivity Gains

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                      Driving Middle East Growth: Accelerating AI and Cloud Adoption for Smarter Governance

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                      How AI Drives the Success of MENA’s Mega Projects

                      Trending Tags

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                        • Oil & Gas
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                        Iraq Launches Ambitious Plan for 1,000 Solar Projects in Three Years

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                        Qatar Adds 875 MW in Solar Power, Boosts Renewable Energy Push

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                        Oman Breaks Ground on $1.6 Billion Marsa LNG Project in Suhar

                        Iraq Targets 38,000 MW Power Boost with Siemens and GE Deals to Tackle Energy Shortages

                        Iraq Targets 38,000 MW Power Boost with Siemens and GE Deals to Tackle Energy Shortages

                        Iraq Allocates $763.5 Million to Expand Residential Solar Energy

                        Iraq Allocates $763.5 Million to Expand Residential Solar Energy

                        Al Bilal Group Secures Licenses for 525 MW Solar Projects in Iraq

                        Al Bilal Group Secures Licenses for 525 MW Solar Projects in Iraq

                        Iraq Begins Work on 921MW Al-Nasiriyah Power Plant

                        Iraq Begins Work on 921MW Al-Nasiriyah Power Plant

                        Africa and Middle East Set to Add 2.9 GW of Onshore Wind Capacity in 2025

                        Africa and Middle East Set to Add 2.9 GW of Onshore Wind Capacity in 2025

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                        • Hospitality
                          Qatar’s Tourism Sector Adds $14.9 Billion to GDP in 2024, Marks 14% Growth

                          Qatar’s Tourism Sector Adds $14.9 Billion to GDP in 2024, Marks 14% Growth

                          Qatar Launches AI-Driven Health Tourism Strategy to Position Doha as a Global Medical Travel Destination

                          Qatar Launches AI-Driven Health Tourism Strategy to Position Doha as a Global Medical Travel Destination

                          Middle East Hotel Construction Activity Rises 8% in Q1 2025

                          Middle East Hotel Construction Activity Rises 8% in Q1 2025

                          Qatar Leverages Sports to Fast-Track 2030 Tourism Goals

                          Qatar Leverages Sports to Fast-Track 2030 Tourism Goals

                          GCC Hospitality and Food Service Market to Grow at 9.25% CAGR Through 2029

                          GCC Hospitality and Food Service Market to Grow at 9.25% CAGR Through 2029

                          Baghdad Welcomes Major Hotel Opening Ahead of Arab Summit

                          Baghdad Welcomes Major Hotel Opening Ahead of Arab Summit

                          Unlocking Growth: Key Opportunities in the Middle East Hospitality Market

                          Unlocking Growth: Key Opportunities in the Middle East Hospitality Market

                          Oman Charts a Visionary Course Toward Tourism-Driven Growth and Economic Diversification

                          Oman Charts a Visionary Course Toward Tourism-Driven Growth and Economic Diversification

                          Qatar Set to Welcome Record 5.3 Million Tourists in 2025

                          Qatar Set to Welcome Record 5.3 Million Tourists in 2025

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                          Home Business & Economy Economy

                          COVID 19 fight: UAE banks ready to meet challenges

                          April 7, 2020
                          in Economy, Finance
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                          COVID 19 fight: UAE banks ready to meet challenges
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                          The UAE’s banking sector will stand with the nation and its people to face the challenges posed by the coronavirus outbreak to public health and the economy, said AbdulAziz Al Ghurair, Chairman of Mashreq and Chairman of UAE Banks Federation (UBF).

                          “The coronavirus pandemic has presented a very challenging environment for the UAE and the world,” he said. “While the government is doing everything to contain the spread of the virus and protect the public health, the banking sector headed by the Central Bank of UAE (CBUAE) is taking appropriate action to support the economy,” said Al Ghurair.

                          In recent weeks, the CBUAE announced a Dh260 billion stimulus package to support the economy through the banking sector. These include a Dh50 billion capital buffer relief, Dh50 billion zero-cost funding support, Dh95 billion liquidity buffer relief and Dh61 billion reduction-of-cash-reserves requirements for the banking sector.

                          The latest central bank program comes in the form of a 50 per cent reduction in reserves requirements for demand deposits – from 14 per cent to 7 per cent. This measure will inject liquidity of about Dh61 billion, which can be used to support banks’ lending and their liquidity management.

                          The CBUAE has further extended the duration of the Targeted Economic Support Scheme (TESS). Banks and finance companies participating in the TESS program will be able to extend to their customers’ deferrals of principal and interest until December 31.

                          “The central bank support has been substantial in terms of liquidity and capital. By increasing liquidity in the banking sector, it will provide further stability in these uncertain times, and allow banks to offer additional lending and support to critical sectors of the economy.”
                          Steadfast response

                          Al Ghurair said the banking sector in the country has responded proactively to support individuals and businesses impacted by the outbreak. “Everyone in the country is impacted one way or the other,” the Mashreqbank chief said. “In this crisis we have to support one another. All banks have come out with specific measures to support their customers impacted by the pandemic.”

                          While job losses are reported across various sectors, Al Ghurair said banking sector and most other industrial sectors will try their best to retain their employees. But if the outbreak prolongs for a long time, it could result in job losses.

                          Gulf News
                          06/04/2020

                          Tags: CoronavirusCovid-19economyfinanceUAE
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