DP World, Israel firm to mount joint bid for Haifa Port

Dubai:DP World, one of the world’s largest port operators, plans to make a joint bid for Israel’s Haifa Port as companies in the UAE.  The plan is part of agreements signed in Dubai between DP World and DoverTower, a company owned by Shlomi Fogel, the co-owner of Israel Shipyards and Port of Eilat. DP World  and […]

Saudi body approves cash ban in real-estate dealings

Cairo: Saudi Arabia’s consultative Shura Council has approved a ban on cash dealings by the real-estate and brokerage businesses as the country is going ahead with digital transformation in various fields. The council voted this week for tasking the state Real Estate General Authority with monitoring the real-estate market to determine the impact of a […]

Economies likely to see a U-shaped recovery post pandemic: FAB chief economist

Abu Dhabi: Economies recovering from the global pandemic will most likely take a U-shape trajectory instead of quick return to growth according to First Abu Dhabi Bank’s chief economist Simon Ballard, who also highlighted the risks of a second coronavirus wave with fewer options available to central banks and governments to respond with. “It is […]