HSBC gives $558m financing for Etihad Rail Package D contractors

Dubai: HSBC has structured and financed a $558 million (Dh2.049b) working capital package for the contractors who successfully tendered for the civil works and construction contract for Package D of Stage Two of Etihad Rail. An unincorporated joint venture between China Railway Construction Corporation (CRCC) and the UAE’s National Projects and Construction (NPC) company was […]

Currency peg’s implosion taking Lebanese economy down with it

Beirut: At a small cafe in the south Lebanese village of Ain Ebel, customers once indulged in drinks and lingered for hours puffing on water pipes filled with aromatic tobacco. Now, most go for a quick shot of espresso in a paper cup. “It’s the only thing that’s still 2,000 pounds,” said Ibrahim Sader, the […]

Dubai to adopt new regulatory standards to relaunch exhibitions, conferences

Dubai: New regulatory standards will be deployed as part of the “roadmap” for Dubai to re-launch its MICE (meetings, incentives, conferences, exhibitions) activities. All stakeholders will also work on “effective adoption” of the latest international safety and hygiene protocols, as well as “preventative and precautionary measures with stringent deployment across all upcoming events and exhibitions”. […]