BMW plunges to Q2 loss as coronavirus pandemic hits car sales

FRANKFURT: BMW on Wednesday said it expected to post an operating profit for the full year despite coronavirus lockdowns pushing the carmaker to a second-quarter operating loss as deliveries of luxury cars fell by 25% during the period. The Munich-based carmaker said it swung to a 666 million euro ($786 million) loss before interest and […]

Automechanika Dubai pushed to 2021 amid COVID-19

Dubai: Automechanika Dubai, Middle-East’s largest trade fair for the automotive service industry, has been pushed to 2021 as COVID-19 cases continue to surge in several countries. The event, which was postponed to run in October 2020, will now take place from 7 June to 9 June 2021 at the Dubai World Trade Centre, event organizer […]

Dubai World Trade Centre restarts global MICE sector with A.I. Everything x Restart Dubai conference

Ai Everything x Restart Dubai Summer Conference 2020 organised by Dubai World Trade Centre marked Dubai’s first major live in-person business event, a key milestone as the Emirate steadily resumes all economic, social and tourism activities. Through this event, Dubai is spearheading the re-ignition of imperative networking events and face-to-face engagement, which are critical factors […]

New UAE stimulus package to bolster economy

The United Arab Emirates will deliver a three-stage “flexible package” of measures to bolster the economy, including steps to support the labor market and encourage investment, the state news agency stated on Wednesday. Economy Minister Abdullah bin Touq Al-Marri, told WAM that said the proposals would provide “studied” stimulus packages. In March, the UAE’s central bank […]