Dubai: Waha Capital on Tuesday posted an annual net loss as the Abu Dhabi-based investment company was hurt by one-off costs at its private investments division and the sale of its stake in aircraft lessor AerCap. The firm has been undergoing a restructuring of its businesses, which it said was concluded last year, but not […]
Beijing (Bloomberg): Alibaba co-founder Jack Ma has become the latest technology industry figure offering to help fight the coronavirus outbreak. China’s richest man will donate 100 million yuan ($14.5 million) through his charitable foundation, joining Bill and Melinda Gates in pledging assistance. That’s on top of an offer by his Alibaba Group Holding Ltd. to […]
Riyadh: Saudi Basic Industries Inc. expects earnings to come under further pressure this year from sluggish economic growth and an oversupply of petrochemicals. The shares fell. The Middle East’s biggest chemicals maker reported its first quarterly loss in a decade last quarter due to lower sales prices and writedowns at a joint venture. The same […]
Riyadh: Saudi Telecom Co. offered $2.39 billion for Vodafone Group Plc’s holding in its Egyptian unit as it seeks ways to expand outside its home market. The cash offer is for Vodafone’s 55 per cent stake in Vodafone Egypt, the country’s largest mobile operator, and the memorandum of understanding is valid for 75 days, according […]
Both UAE VP and Abu Dhabi CP were present at the grand event.
Dubai: The Dubai International Financial Centre (DIFC) on Sunday launched a digital platform to help simplify the process of setting up a business at the financial centre. DIFC said the new fully integrated digital platform offers a simplified on-boarding process and better user experience, adding that this is in line with its “continued emphasis on […]
Oil extended its recovery from a virus-induced slump as a report showing a drop in US crude inventories, a rebound on Wall Street and speculation Opec+ will step in to prop up prices reassured investors. The American Petroleum Institute reported stockpiles fell by 4.27 million barrels last week, which would be the biggest drop this […]
Residents told to file complaints if prices are increased.
A family of four in the UAE was today revealed to have been infected with the coronavirus.
New Delhi: From cops on duty to young lads in small-town India, Chinese short-video making app TikTok has become a rising phenomenon, owing to a strong local network while providing marketers with a platform to reach millions of untapped users. TikTok has 700 million users globally, out of which over 200 million are now in […]