UAE businessman BR Shetty resigns from board of NMC Health

Dubai: Dr. B.R. Shetty, founder of NMC Health, has resigned from the Board of Directors. This comes after he was excluded from board discussions for possibly misrepresenting his shareholdings in the company. Shetty stepped down with immediate effect, along with Chief Investment Officer Hani Buttikhi and board member Abdulrahman Basaddiq, the company has said. Last […]

Apple warns on revenue guidance due to production delays, weak demand due to coronavirus

Apple said Monday it does not expect to meet its second-quarter forecast for revenue. The company cited global supply constraints for iPhones and lower Chinese demand as a result of the coronavirus outbreak. Apple said in late January that it expected revenue of $63 billion to $67 billion in its fiscal second quarter. Apple says […]

Dubai-listed Arabtec swings to annual loss, blames real estate slowdown

DUBAI: Dubai-listed Arabtec Holding swung to a 774.5 million dirham ($210.9 million) net loss in 2019 from a profit of 256.3 million dirham in 2018, the construction company reported on Sunday. Arabtec, which was involved in the construction of the Louvre Abu Dhabi, posted its first annual loss since 2016, according to Refinitiv data. The […]