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Dubai unveils $136m stimulus

Reuters Published October 25, 2020
A general view of Business Bay area, after a curfew was imposed to prevent the spread of the coronavirus in Dubai, United Arab Emirates, March 28. — Reuters/File
A general view of Business Bay area, after a curfew was imposed to prevent the spread of the coronavirus in Dubai, United Arab Emirates, March 28. — Reuters/File

DUBAI: Dubai has anno­unced a new 500 million dirhams ($136.14m) stimulus package to support the local economy, taking Dubai’s total stimulus measures this year to 6.8 billion dirhams, the crown prince of the emirate said on Twitter on Saturday.

“The private sector is a major partner in Dubai’s development process, and we have adopted a set of new exemptions for some fees and a cut in rents for some sectors, as well as an extension of the validity of a previous set of exemptions from fees,” said Hamdan Bin Moha­m­med Al-Maktoum.

Published in Dawn, October 25th, 2020

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