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), […]
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 While the new low oil prices will test Saudi fiscal balances, they have the lowest cost barrels and with low debt can pull on sovereign reserves and take the pain, according to Chris Midgley, head of global analytics, S&P Global Platts. Crude fell sharply on Friday to test $45/bbl on the back of the failed talks and we now expect if to fall sharply as […]
Over the past few years the UAE has seen a boom in start-ups and online businesses. The influx of female entrepreneurs heading start-ups have systemically changed office culture, making it accessible for all genders, and giving a stronger voice to women in general. In fact, the UAE is considered one of the best markets for business women. Back in 2017 the UAE pledged $50 million to the […]
By Matein Khalid The US dollar is the traditional safe haven currency during times of geopolitical or financial stress even when the cause of a risk aversion spasm is ultimately American, such as the failure of Lehman Brothers in 2008, Obama’s epic budget battles with the Republicans in 2011 and the Trump White House’s drone hit on Iran’s most revered Revolutionary Guard commander on 3 January 2020. […]
By Matein Khalid I had published an article expressing my shock at the abysmal corporate governance and financial disclosure at NMC Healthcare, the London listed UAE’s largest private operator of healthcare clinics and hospitals. NMC Healthcare shares were at 1816 pence on the LSE when I published my article in the Gulf and UK financial press on 30 December 2019. NMC Healthcare has now plunged to 775 […]
By Arabian Post Staff Emaar Properties recorded net profit of AED 6.200 billion (US$ 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 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 […]
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 […]
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 Indonesia’s business community on Thursday welcomed the UAE’s pledge to pump tens of billions of dollars into a wide range of key sector projects. President Joko Widodo and his entourage secured an overall $22.9 billion deal during an official two-day visit to Abu Dhabi earlier this week covering the fields of energy, logistics, port construction, mining, and agriculture. It was also revealed that the […]
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 […]
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 Matein Khalid I had recommended SAP shares at €82 in the Gulf financial press in early 2018 as its then CEO Bill McDermott committed the firm to the digital transformation of the UAE at Dubai’s World Government Summit. I published a second article on August 7, 2019 tilted “German software colossus SAP shares will more than double by 2023!”. The shares were €104 in Frankfurt on […]
In an event held at the UAE’s only ecological school, the Arbor School, the Finnish Expo 2020 Dubai pavilion and the real-life Finnish Santa Claus highlighted the importance of adopting and adapting a circular economy in order to combat the current climate crisis the world is facing and empowering our youth to be part of sustainable change. The Arbor School was selected to host Santa Claus due […]
Airbus celebrates 10-years of partnership with Strata shaping the UAE’s aerospace industry, highlighting key milestones achieved with the UAE-based manufacturer throughout the past decade. As part of the UAE’s drive to create a world-class aerospace industry to deliver on its diversification strategy, Airbus is increasing its Middle Eastern footprint through industry cooperation with local entities to contribute to the nation’s economic growth. Abu Dhabi-based Strata Manufacturing has […]
Ren Zhengfei, founder and CEO of Huawei recently met with a contingent of media from across the Middle East and North Africa (MENA) to share his thoughts on the region’s bold digital transformation efforts—and Huawei ‘s plans for supporting local partners to scale digital services to more people, homes, and organizations than ever before. The global executive acknowledged the Arab world’s long and profound history, particularly its […]
You’re splashing on an awesome set of shoes on the web. They’re coming after weeks of excitement. They’re too close (don’t worry, scale chart!!). Or maybe the legs are of course two different lengths and maybe you only had to get those heels out of the clearance rack and though they’re quarter-size too low. Usually, shoes loosen normally as you carry them from location to location, but […]
Online slot machines like at Mega Reel first appeared in the 90s. Considering the possibilities offered by technology, they were totally different in terms of playability and graphic resolutions. Over these years, many false beliefs and myths have been told on slots. The lack of knowledge has brought to the dissemination of myths about smart ways to trick the casino system so to easily win or common […]
By Arabian Post Staff Abu Dhabi announced the establishment of the Mohamed bin Zayed University of Artificial Intelligence (MBZUAI), the first graduate level, research-based AI university in the world. MBZUAI will enable graduate students, businesses, and governments to advance artificial intelligence. MBZUAI will introduce a new model of academia and research to the field of AI, providing students and faculty access to some of the world’s most […]
A 3d printer will enable you to print almost anything from the comfort of your home. 3D printing is transforming the way specialists design and create things. When 3d was first introduced, people thought that they would not need to visit the stores anymore. They believed that they could download pre-made designs and print them. Understanding the 3D Printer Before deciding to start your 3d printing adventure, […]
