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Infor recognized for completeness of vision and ability to execute   BEIJING, CHINA – Media OutReach – 9 June 2020 – Infor, a global leader in business cloud software specialized by industry, today announced that Gartner Inc. has positioned Infor as a Leader, for the second consecutive time, in its Magic Quadrant for Warehouse Management Systems (WMS). Infor was positioned in the Leaders quadrant for its ability to execute and its completeness […]

Government policies on climate change and consumer demand could see the number of electric cars reach 100 million by start of next decade compared with seven million today. China is the world’s largest market for electric vehicles in total, accounting for around 45%, while a quarter (24%) are in Europe and 22% in the US. In Asia – China, Japan and India to drive future sales. New […]

Emirates Airline reported a 21 percent jump in profit to US$288 million (Dh1.1 billion) in 2019-2020 financial year ending March 31, 2020, compared to $245 million (Dh900 million) reported in 2018-19 financial year, despite the effects of Covid-19 that grounded its fleet in the 12th month of the reporting period. The airline reported strong profit growth despite a 6 percent decline in revenue to $25.1 billion (Dh92 billion), […]

Non-Residential Indians (NRIs) and Person of Indian Origin (PIO) have several banking needs that are difficult to be served by any regular bank account. Since these people reside abroad, they generally have their savings and income in foreign denominations such as US Dollars, Euros, etc. Therefore, such individuals need a different account to suit their requirements. NRI accounts have distinctive facilities for amount transfers, tax-related issues, currency […]

As we all know, Covid-19 and the effect it is having on the world has been substantial. With several cancellations and travel bans to locations all over the world, there are plenty of changes being made. With changes to sporting events as well as the postponement of a number of major events in the UAE and internationally, there are many wondering how Covid-19 can continue to affect not […]

Arabian Post Staff Around 20% of Europe’s mid- and small-sized oilfield service companies, the vast majority of which are British or Norwegian, are set to become insolvent as the effect of the Covid-19 epidemic will hit the continent’s OFS market hard and cut purchases by about $5 billion year-on-year, a Rystad Energy impact analysis shows. The European service market, which was expected to stay largely flat this […]

Arabian Post Staff Dubai International Financial Centre (DIFC) announced a record growth in 2019. The total number of firms in the Centre reached 2,437, up 14% from 2018, with a total of 32% growth since 2017. It attracted 493 new businesses in 2019 and  now counts 17 of the world’s top 20 banks, 8 of the 10 leading global law firms, 3 of the top 5 insurance companies […]

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Arabian Post Staff The UAE Central Bank has advised banks to implement measures to counteract the effects of COVID-19 including rescheduling loans, offering temporary deferrals on monthly loan payments and reducing fees and commissions. Management consultancy Oliver Wyman warns that the resulting impact of the Coronavirus outbreak on the global economy could lead to reduced borrowing and lending that will affect banks with a bearing on corporate and […]

By Matein Khalid The US dollar is the traditional safe haven currency during times of geopolitical or financial stress even when the cause of a risk aversion spasm is ultimately American, such as the failure of Lehman Brothers in 2008, Obama’s epic budget battles with the Republicans in 2011 and the Trump White House’s drone hit on Iran’s most revered Revolutionary Guard commander on 3 January 2020. […]

By Matein Khalid I had published an article expressing my shock at the abysmal corporate governance and financial disclosure at NMC Healthcare, the London listed UAE’s largest private operator of healthcare clinics and hospitals. NMC Healthcare shares were at 1816 pence on the LSE when I published my article in the Gulf and UK financial press on 30 December 2019. NMC Healthcare has now plunged to 775 […]

By Matein Khalid Thankfully, I was not in the global markets during the Black Death, the Great Plague and the Spanish flu pandemic but coronavirus cases have now crossed 40,000 infections and this is way beyond a local Wuhan outbreak. Despite the blowout 225,000 US January non-farm payrolls growth data, I am alarmed by the global recession SOS in the capital markets metrics I track. One, the […]

By Arabian Post Staff Emirates Strategic Investments Company (ESIC), an Abu Dhabi-based investment company owned by Sheikh Mansour bin Zayed al-Nahyan, a member of Abu Dhabi’s royal family, said it has acquired two mixed-use properties in the United Arab Emirates (UAE), one of a series of investments to be funded by last year’s successful issuance of the company’s US$600 million (Dh2.2 billion) sukuk. The Dh1 billion (US$ […]

By James M. Dorsey A podcast version of this story is available on Soundcloud, Itunes, Spotify, Stitcher, TuneIn, Spreaker, Pocket Casts, Tumblr, Podbean, Audecibel, Patreon and Castbox. Saudi Arabia may have been getting more than it bargained for when authorities in Khujand, Tajikistan’s second largest city, ordered that the city’s largest and most popular mosque be converted into a cinema. The order followed the closure of some 2,000 mosques in the country in the last three years and the arrest last month […]

By Matein Khalid My tactical idea last week to recommend buying sterling against the US dollar (cable) at 1.30 for a 1.34 target is 200 pips in the money now that the Bank of England kept the policy rate unchanged at 0.75% despite Governor Carney’s smoke signals. Sterling closed at 1.32 on Friday evening and will be well bid next week – hopefully. I expect Governor Bailey […]

Casino enthusiasts may make a bunch of mistakes on the inside of a casino, ones which they will probably pick up as they progress but people never mention the mistakes that can occur even before you step a foot inside of the casino. These are rookie mistakes at 666casino.com and usually the smallest crimes committed by first time casino goers. So to save you the embarrassment and […]

By Matein Khalid NMC Health PLC, the UAE’s leading private operator of medical clinics and hospitals with a footprint in 17 countries was founded by Abu Dhabi based Indian-Udupi businessman B. R. Shetty and listed on the London Stock Exchange. NMC plunged a shocking 45% in five trading sessions after Carson Block of Muddy Waters Capital, one of the world’s preeminent short selling specialist hedge funds, accused […]

Arabian Post Staff Investment Corporation of Dubai, an investment arm of Dubai Government, reported a 4.4 percent increase in net profits reaching Dh10.5 billion despite a 7.7 percent decline in revenues to Dh106.3 billion in the six month period ended 30 June 2019. Investment Corporation of Dubai (ICD) portfolio companies comprises of 44 business organisations include Emirates Group and Emirates Airline, Emirates NBD. The decline in revenues, […]

By Matein Khalid I had recommended buying the Tadawul ETF iShares MSCI Saudi Arabia (symbol KSA on NYSE) on November 30 to benefit from the post-IPO surge in the price of the Saudi Aramco IPO shares on the Tadawul. This tactical trade was a beauty even before Saudi Aramco shares soared 20% on its Thursday December 12 to peak at 38.7 Saudi riyals (SAR). As I expected, […]

By Arabian Post Staff Saudi Arabia has unveiled a 2020 budget that projects a budget deficit of 6.4 percent of GDP.  This is much higher than the figure for 2019, which was estimated at 4.7 percent. The 20220 budget indicates total expenditures of SAR 1,020 billion, and SAR 833 billion of projected revenues. For FY 2019, it is expected that the actual expenditures will reach SAR 1,048 billion and total actual revenues are expected […]

Mirabaud, the banking and finance group founded in Geneva in 1819, in partnership with SBK Holding, has officially opened its Abu Dhabi office operations. The newly opened subsidiary, Mirabaud (Abu Dhabi) Ltd, will offer domestic and international wealth management advisory, business development, succession planning support as well as other investment services to its clientele in Abu Dhabi and wider UAE focusing on local families, their networks, and […]

By Matein Khalid I first encountered Lebanon as a teenager after the fabled Choueifat College opened its first UAE campus in Sharjah, fleeing the civil war in the Chouf. My ignorance of the country I was to know and love as my own patrie was monumental. When a classmate told me he was a Darzi, I assumed his father was a tailor since Darzi means “tailor” in […]

Research and advisory firm Oxford Business Group (OBG) will launch The Report: Dubai 2020, its new analysis of the emirate’s economic development and investment opportunities, on Monday, December 9 at Nasdaq Dubai, The Exchange Building, DIFC. The event will include a roundtable, titled “Dubai Beyond Expo 2020”, at which leading representatives from the public and private sectors will share their views on how best to ensure the legacy of the world expo benefits the […]

Starting a company in the UAE is straightforward for both locals and foreigners. The following simple steps will guide you on how to start your company without any issues:

By Arabian Post Staff The changing landscape of the US$360 trillion (Dh1,321 trillion) global wealth is now more than four times the global GDP of US$88 trillion. The wealth per adult reached a new record high of US$70,850, or 1.2% above the level of mid-2018 with Switzerland topping the biggest gains in wealth per adult this year, according to a latest report by Credit Suisse. Aggregate global […]

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