Dubai Drake and Scull International (DSI), the Dubai-listed contractor, said on Thursday it has fired its chief executive officer, chief financial officer, and chief legal officer as its losses more than tripled. In a statement to the Dubai bourse, DSI said it has approved a decision to terminate the services of CEO Tawfiq Abu Soud, […]
LONDON. British regulators blocked Sainsbury’s £7.3-billion ($9.4 billion) purchase of Walmart’s Asda unit on Thursday amid concerns the deal would have increased prices and reduced the quality and range of products available. For Walmart, it’s another setback in its effort to export its low-price strategy around the world. The Competition and Markets Authority said the […]
Dubai: Union Coop has reported a 26.5 per cent increase in net profit for the first quarter of 2019, compared to the same period the previous year, with an increase of Dh28.8 million. The first quarter of 2019 saw a net profit of Dh138.5 million, compared to Dh109.7 million in 2018. The company also revealed […]
Dubai: The Dubai Exhibition Centre (DEC) is set to open on October 20, 2020 — operated by the Dubai World Trade Centre — and will become a new 45,000 square metre space from which to host conferences and other events. Spread across two campuses, the centre will house a theatre, an auditorium, several multi-purpose halls, […]
Dubai: UAE telecoms brand du saw its net profits drop by more than 12 per cent in the first quarter of 2019, while the company’s revenues slipped over 6 per cent. Du, one of only two internet and mobile phone network providers in the UAE, saw its net profits drop from Dh512 million in the […]
BEIJING: The UAE has been elected as Vice Chairman of the Board of Directors of the Belt and Road Initiative Tax Administration Organisation. This came during the Belt and Road Initiative Tax Administration Cooperation Forum, which concluded on April 20 in China where Khalid Ali Al Bustani, Director General of the Federal Tax Authority (FTA), […]
SAN FRANCISCO: Tesla CEO Elon Musk had prepped Wall Street for a first quarter loss but analysts were still stunned by its size: $702.1 million, among the company’s worst quarters in the past two years. The net loss was more than double what analysts had predicted as Tesla’s sales slumped 31% for the quarter. The […]
Other iconic landmarks in the UAE also paid tribute to the victims of the Easter attacks.
New York: JPMorgan Chase & Co. promoted 117 employees to managing director in its corporate and investment bank, a person briefed on the changes said. Women represented a little more than a quarter of the total, which was a record percentage, according to the person, who asked not to be identified because the breakdown hasn’t […]
More than 110,000 measles cases were reported worldwide in the first quarter of 2019, UNICEF revealed today, adding More…