Damac Properties reports net profit of Dh82m for first half of 2019

Dubai: Damac Properties on Wednesday announced its first half results for 2019, showing a net profit of Dh82 million and revenue of Dh1.9 billion. The property development company’s financial results also revealed Dh1.8 billion in sales in the first six months of the year, with the deliveries of 1,476 units. “The first half of 2019 […]

GCC countries expected to accelerate government spending

Dubai: Reforms undertaken by GCC countries since 2014 have slowed the fiscal deterioration caused by lower oil prices, but progress has been slow and uneven, according to global credit rating agency Moody’s. Going forward, the rating agency’s analysts expect GCC governments to increase spending and delay unpopular austerity measures, resulting in higher debt accumulation in […]

$211 billion is the market capitalisation of Bitcoin

New York: Bitcoin now makes up close to three-quarters of the entire crypto universe, according to data from Coinmarketcap.com. Its market capitalisation is above $211 billion, 10 times that of the next-largest digital asset, Ether. And in a week when traditional financial markets were roiled, its price has held up, too: Bitcoin rose 14% over […]