In: Finance
Identify the sectors that were affected in the UAE market due to COVID-19
Sectors that were affected due to covid-19 in United Arab amirat were as follows -
A. Airlines industry was the worst affected factor due to complete shutdown of operations and these Airlines companies where declaring that they are having a lot of that they want to restructure themselves in order to survive in this adverse economic scenarios.
B. Another sector that was badly hit was energy sector in which there was oil related companies and other energy companies who care badly affected due to you falling prices of oil and falling prices of other commodities due to covid-19.
C. Another factor that was badly affected was consumer retail business was mostly physically operational and these consumer retail business work completely shut down due to coronavirus concerns and it lead to decline in the stocks of consumer discretionary is as well as consumer staples.
D. Another sector that was highly impacted was logistics companies and these logistics companies were not operational due to shutdown of operations and that means that their share prices are also going down in these tough scenarios of covid-19.
E. Another sector which was badly impacted all microfinance companies because a smaller businesses were badly affected in covid-19 and it leads to complete shutdown of smaller businesses and their highly exposed for liquidation.