July 11, 2020 / 12:32 PM / 23 days ago

Dubai announces new economic support package, worth over $400 million

DUBAI, July 11 (Reuters) - Dubai has announced a new package to help the economy cope with the effects of the coronavirus outbreak, worth 1.5 billion dirhams ($408 million), the crown prince of the emirate, Hamdan Bin Mohammed Al-Maktoum, said on Twitter on Saturday.

The package is the third announced by Dubai, the second-largest and wealthiest member of the United Arab Emirates federation. The three packages are worth a total of 6.3 billion dirhams, Sheikh Hamdan said. (Reporting by Maher Chmaytelli. Editing by Jane Merriman)

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