The French government’s financial support of Air France comes with the expectation that the airline keeps buying planes from Airbus, Finance Minister Bruno Le Maire said on Wednesday. The government …
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COVID-19 impact: UAE bank profits come under pressure
Early indicators from the first quarter results of UAE banks point to a spike in provisions on expected credit losses from COVID-19 linked loan impairments and lower loan yields as a result of low …
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Online Learning Accelerates in United Arab Emirates Amid COVID-19 Outbreak with Ankabut, Mediasite Partnership
The use of video learning is rapidly increasing in the Middle East due to a new partnership between Mediasite and Ankabut, the United Arab Emirates’ Advanced National Research and Education Network …
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Jumia: The e-commerce start-up that fell from grace
Online retailer Jumia is struggling, a year after its debut on the New York Stock Exchange.
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UAE banks face write-downs of between 25%-50% on NMC debt – sources
Banks in the United Arab Emirates (UAE) with exposure to troubled hospital operator NMC Health risk having to make provisions for between 25% to 50% on more than $2 billion of outstanding debt to the …
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Covid-19: UAE’s ’10 million meals’ campaign exceeds target in one week
The campaign, led by Sheikha Hind bint Maktoum bin Juma Al Maktoum, chairperson of the board of trustees of the UAE Food Bank, has received donations from companies, humanitarian organisations, …
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First Abu Dhabi Bank reports 22% slump in profit over coronavirus
First Abu Dhabi Bank set aside $201m in impairment charges, calling it prudent provisioning due to a challenging operating environment’ …
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UAE’s First Abu Dhabi Bank’s quarterly profit hit by impairment charges
First Abu Dhabi Bank, the biggest lender in the United Arab Emirates (UAE), reported a 22 percent drop in quarterly profit on Monday, hit by interest rate cuts and impairment charges. Its net profit …
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UAE instructs banks to freeze accounts of NMC founder Shetty, his family: Report
United Arab Emirates lenders have been told by the central bank to freeze the accounts of NMC Health shareholder BR Shetty and his family, three sources with knowledge of the matter said. NMC, which …
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Solidarity Fund: Dubai Islamic Bank unveils Dh120 million contribution
The Dubai Islamic Bank has announced on Saturday a Dh120 million contribution to the Community Solidarity Fund against COVID-19 launched by the Islamic Affairs and Charitable Activities Department.
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UAE, Gulf states can raise billions via asset sales
Gulf nations may turn to asset sales to complement an almost $50 billion debt spree to support economies rocked by the coronavirus pandemic and the collapse in crude prices, according to Citigroup Inc …
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Jumia: Africa’s Amazon’s huge losses since a billion-dollar IPO
After peaking at a high of $49.77 within its first week of trading in April 2019, the stock had crashed below its IPO price by August. Jumia lost its “unicorn” status by September and the stock now …
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Veteran UAE horse racing journalist Mohammed Taha passes away
Mohammed has been associated with the sport since its inception in the UAE in the early nineties and has been a pivotal member of the core management team behind the successful Dubai International …
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Shuaa Capital to provide support to UAE tech SMEs amid Covid-19 pandemic
UAE-based Shuaa Capital is to provide free expert advisory services and interest-free loans to support the country’s small and mid-sized technology enterprises (SMEs) impacted by the coronavirus …
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Coronavirus: Dubai’s DIFC to allow employers to reduce hours, pay without consent
Employers will also be able to restrict workplace access, mandate remote working, and impose paid or unpaid leave, according to a release from the Government of Dubai’s Media Office. “The primary …
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Saudi retail giant Bin Dawood’s online battle with pandemic
Ahmad Bin Dawood, chief executive of the holding company that owns the eponymous store chain as well as the Danube outlets, was ready for the challenge presented by the pandemic from the beginning.
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Dubai launches remote payment services to facilitate real estate registration process
DUBAI – Dubai Land Department (DLD), in cooperation with Smart Dubai and the Department of Finance (DOF), launched remote payment services to facilitate the process of real estate registration through …
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