The United Arab Emirates doesn’t spring to mind as an obvious place to farm rice, but the coronavirus is prodding the arid nation to explore new ways of feeding itself.In a pilot project with South …
( read original story …)
COVID-19 is turning many UAE expats with jobs into supersavers
It may even have created a generation of expatriate supersavers who will reshape the economy. Since March, some of the households in the UAE fortunate enough to retain jobs have been able to save …
( read original story …)
Warner Music’s upsized IPO raises $1.9bln in biggest U.S. listing this year
Warner Music Group, the world’s third-largest recording label, said on Wednesday its upsized initial public offering raised $1.93 billion in the biggest U.S. listing so far in 2020. The company …
( read original story …)
Food & Beverage Market to Surpass $80 Billion in 2020 in KSA and UAE
Frost & Sullivan’s recent analysis, 2020 Outlook of the KSA and UAE F&B Market, finds that the food and beverage (F&B) market in the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE) …
( read original story …)
Covid-19 may have accelerated IPO for Fine Hygienic Holding, says CEO
The Jordan-based company has more than doubled its profit over the past two years, according to James Michael Lafferty …
( read original story …)
DFM reinforces its digital transformation drive
Dubai: Dubai Financial Market (DFM) today launchd its all-inclusive “DFM Smart Services App”, as the most recent step to strengthen its leading position in terms of digital transformation and as part …
( read original story …)
Rice in the Desert: Virus Spurs UAE to Grow More Food
The United Arab Emirates doesn’t spring to mind as an obvious place to farm rice, but the coronavirus is prodding the arid nation to explore new ways of feeding itself.In a pilot project with South …
( read original story …)
Rice in the Desert: Pandemic Spurs UAE to Grow More of its Food
The United Arab Emirates doesn’t spring to mind as an obvious place to farm rice, but the coronavirus is prodding the arid nation to explore new ways of feeding itself.In a pilot project with South …
( read original story …)
Chinese online grocery firm Dada looks to raise over $280mln in U.S. IPO
Dada Nexus Ltd said on Monday it aims to raise up to $280.5 million in an initial public offering (IPO) that could value the Chinese online grocery firm at over $3.72 billion. The company, whose IPO …
( read original story …)
UAE condemns Israeli plan to annex West Bank lands
The United Arab Emirates on Monday called on Israel to halt a plan to annex parts of the occupied West Bank — joining a long list of Arab nations that have condemned the expected Israeli move. The UAE …
( read original story …)
Bank assets in Abu Dhabi, Dubai hit $788bln in April
Gross assets of banks operating in Abu Dhabi and Dubai have risen to around AED2.897 trillion ($788 billion), by the end of April, accounting for 92 percent of total banking assets in the country, …
( read original story …)
Dubai Customs cancels fines for late Customs Representative Card renewal, cancellation
The decree exempts businesses from late fines related to any government service in Dubai as part of government efforts to boost the national economy, …
( read original story …)
UAE says Israel should back off threat to annex West Bank
A senior United Arab Emirates official said on Monday that any unilateral move by Israel to annex parts of the occupied West Bank would be a serious setback for the Middle East peace process.
( read original story …)
Saudi Central Bank Provides $13.3 Billion to Support Bank Liquidity
The Saudi central bank said it provided 50 billion riyals ($13.3 billion) to support liquidity in the banking sector, according to a statement on twitter on Monday.
( read original story …)
Dubai faces 5.5% recession this year as $10 bln debt repayments loom, BofA says
Dubai could see a recession of around 5.5% in 2020 as it faces about $10 billion in debt maturities this year while revenues are expected to drop in line with the pattern of the 2009 crisis, Bank of …
( read original story …)
CORRECTED-Saudi central bank provides $13.3 bln to support banking sector liquidity
The Saudi central bank said it provided 50 billion riyals ($13.32 billion) to support the banking sector liquidity, according to a statement on twitter on Monday. ($1 = 3.7545 riyals) (Reporting by …
( read original story …)
UAE’s financial markets need more depth
The lack of depth and coverage of regional debt and equity markets is well known and documented. We have puny equity capital markets … and even those cater only to the larger companies. They are …
( read original story …)