Future tariff relief depends on case-to-case, says Abu Dhabi Ports

Abu Dhabi: Abu Dhabi Ports would be willing to look at offering preferential tariffs to support companies that have had their economic activities disrupted by the COVID-19. “Abu Dhabi Ports works continuously with our customers to make sure services are commercially well positioned,” said Robert Sutton during a webinar event. “In terms of specific incentives, […]

Dubai’s Drake & Scull International finally turns a profit

Dubai: After reporting a whopping combined losses of Dh5 billion, the Dubai-based engineering firm Drake & Scull International has some reason for cheer. For 2019, it reported revenues of Dh681 million and turned in net profits of Dh262 million. Other income generated Dh133 million plus,  significantly higher over 2018. “The team has worked tirelessly for […]

Beyond COVID-19: UAE has better shock absorption capacity among GCC peers

Dubai: Relatively greater levels of economic diversification and robust sovereign assets will better shield the UAE economy compared to its GCC peers if the low oil prices are persist over a longer period, according to rating agency Moody’s. Lower-for-longer oil prices will weaken the fiscal and external positions of all rated oil exporters, exacerbating sovereign […]