Newcomer food delivery app Grub has entered the UAE’s food delivery marketplace, launching its services across Dubai. Offering a flexible and easy to manage system, the platform offers simple flat-rate mobile food delivery for local restaurants and wholesalers. The mobile app is offering venues 0% commission for the first six months if they sign up in the launch month as the new app is intended to help […]
By Matein Khalid Oscar Wilde once spoke of his friendship with Lord Alfred Douglas, the fabled Bosie, as “the love that dare not speak its name”, in Victorian London, when Sherlock Holmes and Jack the Ripper roamed amid the fog and the gaslights! The love that dare not speak its name in my life is, of course, my obsession with foreign exchange markets, a love that mesmerizes […]
Arabian Post Staff The Dubai Gold and Commodities Exchange (DGCX) announced that it has received a positive assessment from the European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, and is now listed as a third-country trading venue (TCTV) that meets the post-trade transparency requirements under MiFID II and MiFIR. The DGCX met all the criteria set out in the ESMA Opinion (determining TCTVs for […]
by James M. Dorsey The Middle East is at a crossroads. The coronavirus pandemic and its economic fallout confronts regional leaders with a stark choice: dial down tensions to open the door toward cooperation in tackling existential challenges or risk ever more aggravated political and economic threats enhanced by a potential wave of social protest. A second wave of the coronavirus pandemic is raising its ugly head. […]
Arabian Post Staff Dubai International Financial Centre (DIFC) announced sustained performance in the reinsurance sector. The sector grew by 17.4% in 2019, representing the highest volume of premiums ever written in the market, further reinforcing the Centre’s position as the leading reinsurance hub in the region. The DIFC confirmed that Gross Written Premiums (GWP) for Q1 2020 reached $472 million, on par with the same period during Q1 […]
Arabian Post Staff Global solutions integrator AGC Networks announced that it will be acquiring Fujisoft (along with its associated companies in UAE) through its indirect subsidiary – Black Box Holdings Limited Cayman Islands. The proposed acquisition is subject to approval from the Department of Economic Development in Dubai and from Abu Dhabi Department of Economic Development for the company in Abu Dhabi. The acquisition of Fujisoft will substantially increase and strengthen […]
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), […]
The Dubai Gold and Commodities Exchange (DGCX) continued to see robust trading activity in April, with members increasingly seeking to protect themselves against volatility and global economic uncertainty. In light of continued currency volatility and varying views on the dollar as a safe haven, the DGCX last month most notably recorded a surge in trading of its G6 currency portfolio, which registered year-on-year (Y-O-Y) volume growth of […]
By Christian Schuhmacher In line with the Dubai Health Authority’s (DHA) efforts to combat the spread of COVID-19, most elective and non-emergency surgical procedures were postponed. The main purpose for this postponement was to facilitate efficient utilization of healthcare resources and allow for prompt healthcare access for COVID-19 patients. A second reason is the lack of blood donation and hence the need to preserve the available blood […]
Eating healthy has become the new revolution, after all, you are what you eat! Thankfully, eating healthy in today’s times isn’t just bitter leaves and sour vegetable mixes blended into juices, they’ve transformed into delicious gourmet meals that leave you craving for more. But we understand that your hesitation goes beyond taste and you also worry about availability and cost. UberEats is to the rescue as you […]
Golf is an absolutely beautiful sport. People love playing it and watching it all over the world. In this article, we are going to highlight the Top 5 Golf Tournaments in the world. These golf tournaments are extremely prestigious and always feature extraordinary play. They are primarily PGA Tour events, which originates from the United States. The PGA Tour also has a European counterpart called the PGA […]
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 […]
Caption: Lose yourself in a Moroccan Paradise at the Es Saadi Resort Arabia is a beautiful and varied landscape, with diverse cultures and a rich history. It’s no surprise then that it’s home to some of the world’s most luxurious hotels. Whether it’s an opulently appointed Moroccan hideaway, a city centre Saudi palace or a relaxing beachside retreat in Oman, Arabia has something to offer every kind […]
Arabian Post Staff DP World, which recently announced delisting of its shares from Nasdaq Dubai, reported revenue growth of 36.1% and adjusted EBITDA increase of 17.7%, delivering profit of $1.3 billion, but without separate disclosures. Revenues were of $7,686 million, with a growth of 36.1% driven by acquisitions including P&O Ferries (UK), Topaz Energy & Marine (UAE) and the two terminals in Chile (Puerto Central and Puerto […]
The issue of gambling has reared its head more than once in Dubai in recent years, as the city looks to lure more and more sports and entertainment events. With big-name sports contests come big-name gambling sponsors, and with that comes a problem. Gambling remains illegal in Dubai just as it remains illegal in every other part of the United Arab Emirates and – despite some suggestions […]
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 […]
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 […]
Arabian Post Staff The Dubai Financial Services Authority (DFSA) announced that it has fined Enness Limited (Enness DIFC), a DIFC Representative Office. The DFSA fined Enness DIFC USD 105,000 (approximately AED 386,000) for engaging in unauthorised activity outside the scope of its Representative Office DFSA Licence. As a Representative Office, Enness DIFC is only permitted to carry out a narrow set of activities in the DIFC relating […]
Arabian Post Staff DP World has decided to delist its shares from Nasdaq Dubai citing better operational efficiency as a private entity. Accordingly, DP World’s parent company Port and Free Zone World has offered to acquire the 19.55 per cent of DP World’s shares traded on Nasdaq Dubai, returning the company to private ownership. The company said the move will enable DP World to focus on its […]
Arabian Post Staff Dubai-based DP World has agreed to acquire a majority 51% stake in TIS Container Terminal in the Port of Yuzhny, Ukraine, subject to the satisfaction of certain conditions, including regulatory approval. Bringing the TIS Container Terminal into DP World’s global network of ports, economic zones, warehousing, and inland logistics solutions will strengthen its position as the market-leading terminal of Ukraine. This latest acquisition also […]
By Arabian Post Staff Emaar Properties recorded net profit of AED 6.200 billion (US$ 1.688 billion) as compared to AED 6.139 billion (US$ 1.671 billion) in FY 2018. Revenues were worth AED 24.586 billion (US$ 6.694 billion) for 2019. An Emaar statement said the company maintained its positive performance in 2019 recording property sales in Dubai of AED 14.949 billion (US$ 4.070 billion). It attributed the performance […]
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 Emaar Malls announced a 5 per cent increase in revenue to AED 4.673 billion (US$ 1.272 billion) for 2019, compared to AED 4.446 billion (US$ 1.210 billion) in 2018. Overall net profit in 2019 amounted to AED 2.286 billion (US$ 622 million), similar to AED 2.230 billion (US$ 607 million) recorded for the previous year. Revenue grew by 4 per cent to AED […]
Happiness in the workplace is crucial. It makes the employees more engaged, productive, and creative. When employees have positive emotion, their focus widens, they tend to think big and learn better. That’s why happy employees are extremely important for the performance of any organization. But how can organizations achieve a happy workforce that can add value to a company? Read further to know. Prioritise work-life balance Employees […]
