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Revenue increases 12.6% to RMB1.84 Billion   Gradual Results Delivered From Operational Reforms Optimises Sales Channel Mix Results Highlights (RMB million） For the twelve months ended 31 March 2020 2019 Change Revenue 1,841 1,635 +12.6% Gross profit (before provision for/reversal of impairment losses of inventories) 1,138 914 +24.5% Gross profit margin (before provision for/reversal of impairment losses of inventories) 61.8% 55.9% +5.9pts Operating profit 484 584 -17.1% Operating […]

By James M. Dorsey Europe is progressively being sucked into the Middle East and North Africa’s myriad conflicts. As if wars on its doorstep in Libya and Syria were not enough, UAE support for an Eastern Mediterranean pipeline that could hurt Qatar economically — combined with Greek, Cypriot and French opposition to Turkish moves — leaves Europe with few, if any, options but to get involved. Europe’s […]

By Glyn Yates The upheavals caused by the Coronavirus crisis show us what the future of work could look like and how important digitalization is. This also applies to the HR department. Over the past few weeks, many HR departments have experienced what it is like to do their tasks completely remotely. This quickly shows where the opportunities of digitalization for HR are, as well as where […]

SINGAPORE – Media OutReach – 12 June 2020 – As digital transformation become the imperative for businesses in the face of the Covid-19 pandemic, 58% of employers in Singapore are training their workforce in technology-related skills to keep their businesses viable and resilient during this period. This is one of the key findings in the recent NTUC LearningHub’s Employer Skills Survey report. The survey, which was conducted during the […]

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. […]

Atradius’ Payment Practices Barometer highlights the importance of risk management to Asian businesses   HONG KONG, CHINA – Media OutReach – 10 June 2020 – Corporations in the United Arab Emirates expect increased delays in payments from customers, a growing risk of default and an overall weakening in business performance as the country copes with the disruptive impact of COVID-19, according to Atradius‘ latest Payment Practices Barometer survey. With an […]

Residential Sale & Purchase Agreements in May rose to 5,984, the highest level in the past year Prices at representative estates are down by around 0.5%-10.8% year-to-date With 19 major deals, the property investment market has not rebounded yet in Q2 as buyers and vendors remain on the sidelines amid the continuous uncertainties.  HONG KONG, CHINA – Media OutReach – 9 June 2020 – As the local coronavirus outbreak gradually […]

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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 […]

by James M. Dorsey  Rejiggering security arrangements in the Gulf may be a more pressing issue than meets the eye. That is not good news for the Gulf states. It is also bad news for China, which could see the rug pulled out from under its studious effort to remain on the sidelines of the Middle East’s myriad conflicts. China and the Gulf states are in the same […]

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), […]

By James M. Dorsey A decision by the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC producers like Russia to temporarily end a price war and cut production amounts to a time-out rather than an end to what is likely to erupt at some point in the future as a tripartite war. More immediately, the decision averts a significant deterioration in relations between the United States and […]

Arabian Post Staff In the event of another deadlock between Russia and Saudi Arabia, the desert kingdom is likely to suffer a bigger hit than Russia in an extended oil price war, according to Rystad Energy. Rystad feels Saudi Arabia will suffer a bigger hit in all five financial criteria: the impact on oil and gas revenues, fiscal breakeven price, fiscal deficit and foreign currency reserves, budget […]

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 […]

Arabian Post Staff The spread of coronavirus continues to deepen the severity of the blow to global fuels demand. Energy consultancy Rystad Energy now expects more than half of global oil demand growth to be lost in 2020. As global stocks increase by the day, the ongoing OPEC+ meeting is unlikely to result in cuts sufficient enough to balance the market, under all of our scenarios. The […]

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 […]

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 […]

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 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 […]

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 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 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 […]

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 […]

  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 […]

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