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Kuwait mulls tax on expats’ remittances

News Network
May 20, 2020

Cairo, May 20: A senior Kuwaiti lawmaker has called for imposing a tax on expatriates’ remittances to shore up the country’s finances.

MP Khalil Al Saleh, the head of the parliament’s Human Resources Committee, has presented a draft law on the proposed tax to the legislature.

“Imposing fees on expatriates’ transfers will have a role in improving the state's revenues and diversify sources of income,” he told Al Rai newspaper.

Migrant workers transfer about 4.2 billion dinars annually from Kuwait, he added, citing figures from Kuwait’s Central Bank.

“This system is in effect in most countries of the world and in more than one Gulf country. Expats there have not objected to it. Allowing this money to exit the country is very dangerous and has a direct effect on economy,” MP Al Saleh said.

“We do not target brotherly expats because imposing symbolic fees on financial transfers will not affect their money, but will have a positive effect on the state’s sources,” he said. “This has become a necessity after the money transferred outside Kuwait has reached 4.2 billion dinars annually without the state [Kuwait] making any benefit from this.”

Foreign workers make up 3.3 million of Kuwait’s 4.6 million population.

Several Kuwaiti public figures have recently pushed for redrawing the demographic imbalance in the country, accusing expatriates of straining health facilities and increasing the Covid-19 threat.

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Agencies
July 28,2020

Dubai, Jul 28: Abu Dhabi Commercial Bank (ADCB) (ADCB.AD) is letting go hundreds of employees, sources said, the latest in a round of lay-offs by regional banks as pressure mounts to cut costs amid lower oil prices and the coronavirus crisis.

The UAE’s third-biggest lender is laying off 400 employees, two sources familiar with the matter said, after it had committed to not cutting staff because of the crisis.

In a statement, a spokesman said ADCB had pursued efficiency over the last decade by managing out its lowest underachievers after regular reviews, while ensuring talent was deployed in high-growth areas, such as digital banking.

“A certain number of redundancies are therefore expected every year in the normal course of business,” the bank spokesman added.

The sources said the cuts would involve ADCB’s consumer business and several in top management were among those being let go. One source said the bank was looking to close 20 branches.

In March, ADCB had declared, “No employee will be made redundant during 2020 as a result of the COVID-19 pandemic.”

UAE banks have been hit by government measures to rein in the spread of the virus, forcing many businesses to shut temporarily.

Last week, Dubai’s largest bank, Emirates NBD, reported a slump of 58% in profits. In June, sources told Reuters the bank started a new round of hundreds of lay-offs.

In May, ADCB reported a fall of 84% in first-quarter net profit as it took impairments of $292 million on debt exposure to troubled hospital operator NMC Health and payments group Finablr.

It was a major lender, with an exposure of about $981 million, to NMC Health, which went into administration this year after months of turmoil following questions over financial reporting.

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Agencies
June 5,2020

Dubai, Jun 5: A new set of coronavirus guidelines for UAE hotels has been published by the National Emergency Crisis and Disasters Management Authority.

The guidelines, released late Thursday, require all employees to be tested for Covid-19 before reopening, and to be re-tested every 15 days.

Hotels are expected to provide an infrared thermometer and thermal camera, with employee temperatures to be tested several times per working day.

Any guest or employee showing coronavirus symptoms will not be permitted to enter hotel facilities, the guidelines stress.

Hotels must also leave a 24-hour gap between guests leaving a room, and the next guests arriving.

Facilities such as restaurants, cafes, gyms, swimming pools and beaches in hotels will resume operation under a minimum capacity.

Customers must have their temperatures taken before they enter.

The working hours of restaurants and cafes will be from 6am until 9pm, allowing four people to sit at the same table with 2.5 metres left between tables. Menus must be sterilised after each use.

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Agencies
May 2,2020

Doha, May 2: Twenty-three staff at a hospital in Qatar were injured when tents being used to boost capacity in response to coronavirus collapsed in a fierce storm, local media reported Friday.

Winds of up to 72 kilometres per hour (45 miles per hour) caused two temporary tent annexes at Hazm Mebaireek General Hospital in Qatar's Industrial Area to collapse on Thursday, the Gulf Times reported.

No patients were hurt and most injuries to staff at the facility, 20 kilometres south west of central Doha, were minor, the daily added, citing the health ministry.

During the gale-force winds on Thursday, a Qatar Airways Boeing 787 on the ground was blown into a nearby Airbus A350 at Doha's Hamad airport causing minor damage but no injuries, the airline said in a statement.

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The Industrial Area is a gritty, densely-populated district that is home to mostly migrant labourers and has been the epicentre of Qatar's outbreak. 

Tens of thousands of residents were quarantined in the area after cases of the novel coronavirus were confirmed among the community in mid-March.

Qatar -- home to hundreds of thousands of foreign labourers working on projects linked to the 2022 World Cup -- has reported 12 deaths and 14,096 cases of the Covid-19 respiratory disease.

The hospital's executive director Hussein Ishaq said the incident was being treated "very seriously" and that an investigation had been launched.

Hospital staff had "helped ensure that no patients were injured and were safely transferred to other hospitals", he said, quoted in the Gulf Times.

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