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 […]
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 […]
By Arabian Post Staff Already struggling to grapple with a crisis of unprecedented proportions, the coronavirus outbreak is the last thing that Dubai and the UAE would have liked to see happen. Moody’s noted in one of its latest reports that the timing of the outbreak is particularly bad for the hospitality industry because it is has unfolded as the Lunar New Year gets underway. The holiday […]
Dubai-based Finalrentals makes it possible to rent a car globally By Arabian Post Staff When traveling abroad, people often try to search for a car online from unknown platforms, resulting in situations where customers feel they didn’t get the service they’d hoped for. But Finalrentals has changed all that. Finalrentals is a startup born in Dubai, United Arab Emirates. After creating the best online car rental experience for tourists and […]
Arabian Post Staff Dubai is to have a Blockchain Campus at the site of Dubai Expo 2020. The campus will be established by Atlas Capital, one of the leading Fintech firms in the emirate, which are also hosting the Blockexpo and World Blockchain Summit 2020 in Dubai during the Expo 2020 Dubai. Dubai’s Blockchain market grew by 24% in 2018, surpassing the global average of 19%, Smart […]
Arabian Post Staff DMCC announced its strategic partnership with CV VC and CV Labs, to launch Crypto Valley – the world’s largest ecosystem for cryptographic, blockchain and distributed ledger technologies – in Dubai. Designed to foster growth, collaboration and integrity across the global blockchain economy, the ‘DMCC Crypto Valley’ will offer a variety of services including incubation for early-stage start-ups, co-working facilities, innovation services for corporate clients, blockchain and […]
Arabian Post staff Dubai-based Wafi Group has acquired the UK’s Craig Bragdy Design (CBD) to establish a new business venture. A small family business in ceramics, started in Wales by Rhys and Jean Powell, the company is now managed by the founder’s two sons Nick and Shon Powell and is an established enterprise that creates art-based products for use in architectural settings. The new company in Dubai […]
By James M. Dorsey Disclosures of taped phone calls between embattled former prime minister Najib Razak and a person believed to be United Arab Emirate crown prince Mohammed bin Zayed go a long way to explain Malaysian efforts to counter UAE and Saudi influence in the Muslim world. The disclosures are the latest incident in what have been complex, if not strained relations with the UAE and Saudi Arabia […]
DUBAI: Internet has changed the way the health sector in some of the African countries operates. Better internet and mobile connectivity have brought huge benefits to hospitals and health professionals. For instance, doctors and health care workers in the region are now able to exchange information in real-time, thereby improving disease diagnosis and patient management. Similarly, medical staff can now use video conferencing to consult with other […]
There’s barely an area of entertainment or recreation that Dubai hasn’t either broken into or attempted to break into during the past few years, but this latest trend is one we never expected to see. When you hear the words ‘luxury cruise’, there are to areas of the planet that tend to spring to mind. The first is the Caribbean. The second is the Mediterranean. At a […]
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 […]
Emaar, the master developer of the Burj Khalifa, wowed over 2 billion people across the globe with a breathtaking pyrotechnic show on the world’s tallest building to ring in 2020. In a mesmerising story, the Burj Khalifa transformed through animation, light, sounds and a synchronized fountain show taking viewers on a journey at the onset of a new decade. Following the traditional 10 second digital countdown on […]
By Saifur Rahman Finland, which is the world’s first country to develop a masterplan for sustainable zero-waste circular economy, will showcase the country’s expertise in this field at the World Expo 2020 that takes place in Dubai from October, 2020 till April 2021. A circular economy is an economic system that is aimed at eliminating waste and creates a carbo-neutral environment by the continual use of resources. Circular systems employ reuse, sharing, repair, […]
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, […]
Buying engagement rings can be exciting and challenging at the same time. There are so many rings to choose from, and you don’t want to buy knock-offs. This is one of the most significant purchases you have to make so you don’t want to mess it. You don’t get engaged every day, so when the time comes, you have to make it special with the perfect […]
