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REVENUE SOARS TO $5.9bn
Savola Group swings to $126m net profit in 2019
Saudi Arabia's leading food products company Savola Group has reported a net profit of SR475.6 million ($126.4 million) for the year ended 31 December 2019 compared to the net loss of SR520.4 million ($138.3 million) for previous year.
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SUPPORT TO FIRMS, INDIVIDUALS
Bahrain offers $11.39bn package to offset Covid-19 impact
The Government of Bahrain today announced a BD4.3 billion ($11.3 billion) economic stimulus package to support the country’s citizens and private sector and counter the effects of the coronavirus (COVID-19) on the economy.
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SUPPORT TO PARTNERS
Dubai Holding, Meraas unveil $272m relief package
Dubai Holding, a global investment company, and Meraas, a premier project developer, have launched a Dh1 billion ($272.2 million) economic relief package aimed at supporting existing business partners and customers across their portfolio of companies.
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ANALYSIS
Pandemic could reduce global air passengers numbers by 30pc
The rapid spread of the new coronavirus across the globe has caused an unprecedented plunge in air traffic demand in recent weeks, with global air passenger numbers expected to drop by up to 30 per cent this year, industry experts revealed
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SPECIAL REPORT
Coronavirus: what does it mean for the global economy?
Coronavirus represents a potent new source of uncertainty for business, but the bigger question is whether the shock will be sufficient to knock the global economy into something worse.
Top Trade News
 | Industry Sectors |
Dubai sees 76pc jump in February off-plan property deals
Dubai's property market has witnessed a massive uptick in the real estate transactions during the first few months of 2020 with the off-plan deals surging by 76 per cent in February compared to the same period last year, said a report.
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Union Coop signs contracts worth $108.9 m
Union Coop, UAE’s largest Consumer Cooperative has revealed that it has signed contracts worth more than Dh400 million ($108.9 million) with suppliers, in preparation for the holy month of Ramadan.
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DNO announces $300m budget cut; focus on Kurdistan
DNO ASA, the Norwegian oil and gas operator, today announced a 30 per cent or $300 million reduction in its 2020 budget to shore up its balance sheet in the face of market convulsions and plunging oil prices triggered by the coronavirus pandemic.
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UAE stocks to have 5pc decline limit
The UAE Securities and Commodities Authority (SCA) has imposed a 5 per cent daily lower fluctuation limit for shares effective on Wednesday (March 18) and until further notice.
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Pandemic could reduce global air passengers numbers by 30pc
The rapid spread of the new coronavirus across the globe has caused an unprecedented plunge in air traffic demand in recent weeks, with global air passenger numbers expected to drop by up to 30 per cent this year, industry experts revealed
More…
Savola Group swings to $126m net profit in 2019
Saudi Arabia's leading food products company Savola Group has reported a net profit of SR475.6 million ($126.4 million) for the year ended 31 December 2019 compared to the net loss of SR520.4 million ($138.3 million) for previous year.
More…
Millennium Hotels adopts stringent safety steps
Millennium Hotel & Resorts MEA has introduced high safety measures through its newly launched campaign, ‘We clean. We Care. We Welcome’, to reassure guests of the precautionary measures being taken to ensure a safe and comfortable stay.
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SAP powers Crescent Petroleum’s digital transformation
Crescent Petroleum, the Middle East’s largest privately-held oil and gas company, has chosen SAP as a strategic partner to power its drive to improve efficiency across all processes, and progress a digital transformation strategy in coming years.
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AGMC launches new market-leading digital showroom
Choosing and owning BMW or MINI has never been easier with the launch of AGMC’s brand digital showrooms – www.findyourbmw.ae and www.findyourmini.ae.
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Nissan takes cue from knights, dons shield
The Nissan Ariya Concept is the first example of an entirely new design direction for the company. It features a spacious, premium cabin with advanced technology and a body that conveys the pure, clean nature of electric cars.
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UAE leads in testing for COVID-19 pandemic
The UAE Government has ramped up coronavirus testing following the pandemic's spread and is leading the global efforts in combating the pandemic.
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Geometry announces CEO for Mena
Geometry, WPP’s end-to-end Creative Commerce agency promotes Nick Walsh to first-ever CEO of Middle East, North Africa effective immediately.
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AUB ensures seamless continuation of study
The American University of Bahrain (AUBH) has ensured continuation of programmes via the implementation of the latest in learning technology, utilising globally-recognised online classrooms from Microsoft O365 Teams and Amazon Web Services Workspaces.
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Emirates Post implementing 'contactless deliveries'
Emirates Post has started implementing 'contactless deliveries' as part of stringent measures to protect the wellbeing of its customers and staff amid coronavirus, COVID-19, concerns.
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