Fraud discovered at UAE’s NMC Health

Dubai: There have been instances of “fraudulent behavior” at NMC Health, the company has said in a statement on London Stock Exchange. This was confirmed after an investigation ordered by the hospital operator’s independent Board of Directors.   The “Review Advisers” have “discovered evidence leading to suspected fraudulent behaviour in relation to some elements of NMC’s […]

Oracle sales top analysts’ estimates on cloud services demand

San Francisco: Oracle Corp topped analysts’ estimates for quarterly sales, signalling that demand for the company’s cloud services is holding up in the face of an economic slowdown caused by the coronavirus outbreak. The company also announced a $15 billion share buy-back programme. Shares jumped about 3 per cent in extended trading. Revenue gained 1.9 […]

UAE Central Bank to support banks in Covid-19 impact

Abu Dhabi: The Central Bank of the UAE (CBUAE) has confirmed their preparedness to support the banking system in mitigating  the downside risk of the COVID-19 outbreak and ensuring the stability of the UAE’s banking sector. “In an effort to safeguard the health and wellbeing of its employees; the Central Bank has established internal committees […]