Dubai’s hotel occupancy has plummeted since the outbreak of the coronavirus and about 30% of workers in the industry will probably lose their jobs, according to research firm STR Global.
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UAE Central Bank’s foreign currency assets up to Dh371.6 billion in April
The foreign assets exclude the apex bank’s Reserve Tranche Position and Special Drawing Rights holdings with the IMF.
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UAE Central Bank’s foreign currency assets up to $101.2bln in April
ABU DHABI: The total foreign currency assets held by the Central Bank of the UAE increased to circa AED371.6 bn ($101.2 billion) during in April 2020, a growth of 1.6 percent from AED365.5 bn during …
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Coronavirus live news: Brazil sees record daily deaths as World Bank warns 60m to fall into extreme poverty
Trump calls negative hydroxychloroquine study an ‘enemy statement’; WHO pass response investigation resolution; Global deaths pass 320,000. Follow the latest updates …
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Rare UAE to Israel Flight Carries Virus Aid for Palestinians
A rare flight from the United Arab Emirates is expected to arrive in Israel on Tuesday evening, carrying medical equipment to help Palestinians fight the coronavirus pandemic.
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Cook and deliver: Dubai restaurants turn creative in cut-throat market
Running a restaurant in Dubai, where a discerning international clientele has more than twice as many dining options per head as in New York, was a cut-throat business even before the coronavirus …
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NMC founder owes over $250 million to Bank of Baroda – court document
Bank of Baroda is seeking to recover loans worth more than $250 million from NMC founder BR Shetty and his companies and an Indian court has barred him and his wife from selling or transferring some …
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First Abu Dhabi Bank pulls out of talks to acquire Bank Audi Egypt
Banking analysts expect merger and acquisition activity in the region to pick up when the dust around Covid-19 is settled.
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Dubai RTA renames two stations
DUBAI – Dubai’s Roads and Transport Authority, RTA, has signed an agreement granting Mashreq Bank the naming rights of the ex-Sharaf DG Metro Station. Thus, the new name of the station has become …
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UAE- RTA signs Metro Station Naming Rights agreement with Mashreq Bank, renames two other stations
Dubai’s Roads and Transport Authority, RTA, has signed an agreement granting Mashreq Bank the naming rights of the ex-Sharaf DG Metro Station. Thus, the new name of the station has become Mashreq …
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Global advisory giant to launch major digital finance operation in Dubai
One of the world’s largest independent financial advisory and services organisations is to develop a major digital finance operation from Dubai, confirms its CEO and founder. deVere Group’s Nigel …
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GCC to see new phase of bank mergers in post-Covid period
The GCC region may see a second wave of mergers and acquisitions that will be driven by economic rationale in the post Covid-19 era, according to Mohamed Damak, S&P Global’s senior director and head …
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Federal govt staff to get May salaries as scheduled: UAE ministry
The UAE’s Ministry of Finance on Monday said there is no change in the releasing of salaries of the federal government employees for the month of May and they will be delivered as per schedule. The …
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RTA renames three metro stations in Dubai
Dubai’s Roads and Transport Authority (RTA) has signed an agreement granting Mashreq Bank the naming rights of the ex-Sharaf DG Metro Station. Thus, the new name of the station has become Mashreq …
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First Abu Dhabi Bank stops potential acquisition of Bank Audi’s Egyptian business-statement
First Abu Dhabi Bank (FAB) said on Monday it mutually agreed with Lebanon’s Bank Audi to stop the potential acquisition of its Egypt business, according to a statement.
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Cambridge Medical & Rehabilitation Center – A Success Story for Serving the Community in the UAE
In 2012 -2013 when there was a void in post-acute care services for patients after encountering injuries or life-changing health scenarios, the options of rehabilitative services were very limited to …
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9 UAE companies ranked among world’s top 2,000
First Abu Dhabi Bank, the largest lender in the country, is ranked first in the UAE, fourth in the Arab world and 303rd globally.
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