Abu Dhabi acts to cushion the blow of coronavirus on UAE companies

The UAE government is putting its development plans "on steroids" despite low oil prices and the global coronavirus outbreak, said Mohammed Ali al-Shorafa of the Abu Dhabi Department of Economic Development.

"Abu Dhabi has the resources, even at these levels of crude oil prices, to continue with its planned progression," he said. His comments come as the United Arab Emirates bars residents abroad from entering its borders in a bid to stop the spread of the coronavirus. The UAE has also announced economic stimulus to support citizens and businesses.

An abra driver wears protective gloves and a face mask on March 18, 2020 in Dubai, United Arab Emirates.

Why can't they just stop all their flights?

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Here's what happened to the stock market on WednesdayStocks took another hit on Wednesday amid concerns over the economic blow from the coronavirus outbreak. 宇宙人が来た。 It got hammered. Next.... Here’s what happened to the stock market Wednesday
Источник: CNBC - 🏆 12. / 72 Прочитайте больше »