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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 […]

HONG KONG, CHINA – Media OutReach – 9 June 2020 – Jones Day acted as the US and Hong Kong legal advisors of GenScript Biotech Corporation (Hong Kong: 1548) (“GenScript Biotech”) in relation to its (a) approximately US$423.8 million initial public offering of 18,425,000 American depositary shares and spin-off listing of its subsidiary Legend Biotech Corporation (NASDAQ: LEGN) (“Legend Biotech”) on the Nasdaq Global Select Market and (b) approximately US$24 […]

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 […]

Physical classrooms across Asia, like this Japanese High School, were recreated online during the onset of COVID-19   SINGAPORE – Media OutReach – 9 June 2020 – Since the onset of the pandemic early this year, education ministries across Asia have pushed for mass migrations online, with the help of  Microsoft Teams, Office 365 and Microsoft Azure, enabling millions of students to continue to learn from home. Beyond ensuring lesson […]

LOS ANGELES, UNITED STATES – Media OutReach – 8 June 2020 – Lee Kum Kee Sauce Group continues to stand with the world in our concerted bid to stop the spread of Covid-19. With the closures of cafeterias in hospitals to prevent the spread of this COVID-19 virus, Lee Kum Kee has committed to donating over 1,000 Panda Express Bowls to those on the front-lines at hospitals in the Los Angeles […]

Rhenus opens a new mega warehouse in India, bringing its total warehousing space across the country to 1.9 million square feet.   SINGAPORE – Media OutReach – 8 June 2020 – Leading global logistics service provider Rhenus Logistics has opened a new Mega Warehouse at Gurugram, near the Delhi NCR region in North India. The 350,000 square feet state-of-the-art facility will enable Rhenus to provide more scalable storage options and […]

HONG KONG, CHINA – Media OutReach – 8 June 2020 – Today, AsiaPac Net Media Limited and AdTech Innovation Limited — agencies under AsiaPac Group leading Asia’s digital marketing with self-developed AI tools and big data — received Criteo Partner status in APAC covering Hong Kong, China, Taiwan, Thailand, Singapore and Malaysia markets. Criteo Partners is a global partnership program launched by Criteo, the global technology company powering the […]

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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 The International Air Transport Association (IATA) announced that demand for air services is beginning to recover after hitting bottom in April. Passenger demand in April (measured in revenue passenger kilometers or RPKs), plunged 94.3% compared to April 2019, as the COVID-19-related travel restrictions virtually shut down domestic and international air travel. This is a rate of decline never seen in the history of IATA’s traffic series, […]

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 […]

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 […]

DP World has launched online logistics tools and services, covering sea, land and air shipping around the world. The connected ecosystem of platforms will enable freight forwarders and any business, to book shipments of cargo from and to anywhere in the world, by any combination of sea, land and air. The initiative represents a major step forward in digitizing the management of logistics to increase the efficiency, […]

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 […]

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 A staggering one million jobs are being lost every day in the Travel & Tourism sector due to the sweeping effect of the coronavirus pandemic, according to the World Travel & Tourism Council (WTTC). According to the London-based international organisation, which represents the global Travel & Tourism private sector,  the growing job losses are affecting every level of the industry and are gathering pace, as countries go into […]

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 The World Travel & Tourism Council says up to 50 million jobs in the Travel & Tourism sector are at risk due to the global COVID-19 pandemic. Gloria Guevara, WTTC President & CEO, said: “WTTC figures show the stark impact on the Travel & Tourism sector of the present COVID-19 outbreak with analysis now suggesting that up to 50 million jobs are at risk in the sector globally”. “When the time is right, WTTC and the […]

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 […]

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 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 International Air Transport Association (IATA) sees 2020 global revenue losses for the passenger business of between $63 billion (in a scenario where COVID-19 is contained in current markets with over 100 cases as of 2 March) and $113 billion (in a scenario with a broader spreading of COVID-19). No estimates are yet available for the impact on cargo operations. IATA’s previous analysis (issued […]

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 […]

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