UAE’s Ducab records 5% gain in 2019 profit

Dubai: The Ducab Group, the manufacturer of high-performance cables, recorded a 5 per cent gain in profits for 2019. The company, owned by Dubai and Abu Dhabi governments, did not give a breakdown of the financials. Ducab, which operates six manufacturing facilities across four sites in the UAE, has an installed capacity of 115,000 metal […]

Philippine central bank to release Php300 billion to fight coronavirus

MANILA, Philippines: A Php300-billion (about $6 billion, Dh21.4 billion) warchest against novel coronavirus pandemic will be released in the Philippines. The Monetary Board of the Philippines’ central bank on Monday (March 23, 2020) announced the amount will be made available to the national government through a repurchase agreement. It involves Php300 billion worth of government […]

Amazon’s Bezos tells workers coronavirus will ‘get worse’

(Bloomberg) – Amazon.com Inc. Chief Executive Officer Jeff Bezos warned his company’s 800,000 employees that the coronavirus outbreak will likely “get worse before it gets better,” according to an open letter shared Saturday on his Instagram account. The letter follows cries from U.S. lawmakers and his own employees that the world’s largest online retailer isn’t […]