Oman shuts currency exchange stores

Omani commercial businesses and individuals had been told to limit cash transactions, (Shutterstock)
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Updated 23 March 2020

Oman shuts currency exchange stores

  • The sultanate has recorded the least infections, currently standing at 55, among the six-nation Gulf Cooperation Council

MUSCAT: Oman on Sunday banned public gatherings in the Gulf Arab state, limited staffing at state entities and shut currency exchange bureaus as part of measures to fight the coronavirus spread.

Authorities also asked the private sector to facilitate remote working and urged commercial businesses and individuals to limit cash transactions, state TV reported.

The sultanate has recorded the least infections, currently standing at 55, among the six-nation Gulf Cooperation Council where the total number of cases of the virus has crossed 1,500 with three deaths.

The region has expanded measures to combat the spread of the disease, with Kuwait taking some of the most drastic steps including suspending international flights.

FASTFACTS

  • Authorities also asked the private sector to facilitate remote working and urged commercial businesses and individuals to limit cash transactions.
  • Kuwait on Saturday imposed a partial curfew nationwide and extended a suspension of government and private institutions and businesses for two weeks.
  • Authorities in the UAE have encouraged people to stay at home and work remotely.

Kuwait, which reported 12 more cases on Sunday to take its tally to 188, on Saturday imposed a partial curfew nationwide and extended a suspension of government and private institutions and businesses for two weeks.

Some supermarkets in Kuwait are allowing only 50 shoppers at a time and taking their temperature, a Reuters witness said.

Authorities in regional business and trade hub the United Arab Emirates have encouraged people to stay at home and work remotely, but has yet to declare an official suspension of work.

The UAE over the weekend reported two deaths linked to the virus, its first fatalities. Bahrain has recorded one death.

Qatar, which has the highest number of cases in the Arab Gulf region at 481, said on Saturday it would set up patrols and checkpoints to ensure a ban on all public gatherings. 


Dubai launches economic program for post COVID-19 recovery 

Updated 05 August 2020

Dubai launches economic program for post COVID-19 recovery 

  • “The Great Economic Reset Programme” is part of a “COVID Exit initiative” to help the recovery and reshaping of the economy
  • The economic program will feature analyses of current and future policies

DUBAI: Dubai launched an economic program as part of its efforts to reshape the emirate’s economy for a “sustainable” and “resilient” future post the coronavirus pandemic, the government said. 
The Dubai government partnered with the Mohammed bin Rashid School of Government (MBRSG) to launch “The Great Economic Reset Programme” as part of a “COVID Exit initiative” to help the recovery and reshaping of the economy, state news agency WAM reported on Tuesday. 
The economic program will feature analyses of current and future policies, research and extensive stakeholder consultation to set the direction and tone of future economic policies, regulations and initiatives.
The government plans to use local and international experts for economies and societies to create growth strategies for the Dubai economy.
The MBRSG held a “Virtual Policy Council,” with global experts and thought leaders to discuss the impacts of COVID-19 on the economy and potential policy responses and initiatives. 
Chief economists, senior practitioners and researchers from leading global institutions including the World Bank, joined experts from Dubai Economy and the MBRSG at the first roundtable.
“I believe the triple helix collaboration between public, private and academia stakeholders have always produced the best solutions in the past. In the highly uncertain environment now, extensive collaboration and cooperation between all stakeholders are vital to our future prosperity. The Virtual Policy Council will propose the best approaches Dubai and the UAE can adopt to address the risks and opportunities in the next normal economy,” said Mohammed Shael Al-Saadi, CEO of the Corporate Strategic Affairs sector in Dubai Economy.
“This Virtual Policy Council is a key component of the whole process where global experts and thinkers share their views on the future economy. In this new era, the role of governments in enabling the new economic actors is becoming increasingly central, and Dubai is well-positioned to lead the way with innovative models of growth post COVID19,” said Professor Raed Awamleh, Dean of MBRSG.
The roundtable also discussed the impact of the pandemic on international trade, foreign investment and tourism, as well as the rise of digital globalization.