National Corporation for Tourism and Hotels reports drop in profit on impact of Covid-19

Abu Dhabi: The National Corporation for Tourism and Hotels reported a drop in profit to Dh23.9 million for the first three months of the year, as hotel bookings and demand took a hit as a result of the Covid-19 pandemic. The company owns and manages a number of major hotels and resorts in the emirate […]

Volkswagen appoints Ralf Brandstätter as new brand CEO

The Volkswagen Group has appointed Ralf Brandstätter as the new CEO of the core brand. Currently COO of the brand, Brandstätter will assume the new role starting from July 1, 2020. The CEO of the Volkswagen Group, Dr. Herbert Diess, who had previously been responsible for both the Group and the brand, will now focus […]

Dubai: Time for some biryani tonight, as price of fresh chicken drops

Dubai: If you have been postponing plans to make chicken biryani for the weekend, change your plans now. Make the dish tonight since the price of 1kg fresh chicken has dropped from Dh13.9 on June 9 to Dh13 today. For fish lovers, it’s a good time to buy any variety like salmon, hamour, king fish […]

400,000 Saudis benefit from wage support initiative

Dubai: Nearly 400,000 Saudis across 80,000 enterprises have benefited from the wage support initiative through the Unemployment Insurance Scheme programme (SANED) in support of industries affected by the COVID-19 pandemic. The business sectors, which benefited from the programme, include wholesale and retail trade, construction and building, hotel and accommodation and food services. This was announced […]

COVID-19: OECD sees deepest peacetime slump in a century

PARIS: The global economy will suffer the biggest peacetime downturn in a century before it emerges next year from a coronavirus-inflicted recession, the OECD said on Wednesday. Updating its outlook, the Organisation for Economic Cooperation and Development (OECD) forecast the global economy would contract 6.0 per cent this year before bouncing back with 5.2 per […]