Michael Fahy | The National

Abu Dhabi Maritime will be responsible for the development of infrastructure and the management of the emirate’s coastal zones. Courtesy Abu Dhabi Ports

Abu Dhabi chemicals JV: what ADQ brings to venture with Adnoc

The company owns stakes in many of Abu Dhabi's key industrial and infrastructure assets including Emirates Steel, Abu Dhabi Ports and Etihad Rail

BusinessJuly 22, 2020

Emirates Investment Authority, the UAE's federal sovereign wealth fund, owns a 60 per cent stake in Etisalat, which has operations in 14 countries. Courtesy Etisalat

Etisalat's first-half profit climbs 3% despite revenue fall

Chairman says telco 'managed to adapt, respond and demonstrate resilience' as it continued delivering services during pandemic

BusinessJuly 21, 2020

EITC's revenue fell 4.8 per cent year-on-year to Dh2.99bn in the first quarter. Charles Crowell / The National

Du's first half profit hit by stay-at-home measures

Company reports lower sales and profit due to movement restrictions during Covid-19 outbreak

BusinessJuly 21, 2020

UAE businesses responding to an Atradius survey last month said 72 per cent of the total value of outtstanding invoices was overdue for payment. Pawan Singh / The National

Dubai Chamber sets up late payments task force

The body will study causes of late payment and publish guidelines for businesses on better working practices

EconomyJuly 19, 2020

Fees earned by investment bankers in the Middle East and North Africa region dropped 25 per cent in the first half of the year due to fewer merger deals completed. Getty Images.

Fees fall for investment bankers in first half of 2020

Decline in merger deals and equity market activity, although fundraising from governments gave bond markets a fillip

BusinessJuly 17, 2020

Most sectors of the UK economy took a hit during the three months ending May 31, with the services index, which accounts for 15% of the UK economy contracting 19% as a result of restrictions imposed to curb the spread of Covid-19. EPA

UK economy registers sluggish rebound in May as output shrinks in quarter

The economy posted a 1.8% increase in May, but shrank 19.1% in the quarter

EconomyJuly 14, 2020

People wait at a bus stop advertising Jio's wireless network services for mobile phones. Qualcomm's investment values Jio Platform’s equity at about $65.3bn. Reuters

Qualcomm invests $97m in Jio Platforms

US chipmaker becomes the latest in a line of investors in Reliance Industries' digital business

BusinessJuly 12, 2020

Dubai Municipality fees and tourism fees charged on hotel stays are being halved until the end of 2020. Reem Mohammed / The National

Dubai government boosts economic stimulus to Dh6.3bn

Extension of fee reductions brings the total amount of support so far to Dh6.3bn

BusinessJuly 12, 2020

Travelex will be split into two separate companies as part of a restructuring that will see its debt holders take control of the company. AP

Lenders to take control of Finablr’s Travelex

Company will be split into two divisions and gain cash injection of £84m

BusinessJuly 07, 2020

Damac Properties slipped to a loss in the first quarter of 2020 despite higher revenue as it wrote down the value of development properties and trade receivables. Chris Whiteoak / The National

Dubai's Damac says no approach made so far on bid to go private

Developer's founder and chairman Hussain Sajwani is reportedly weighing up bid to buy out minority shareholders

BusinessJuly 07, 2020

From left - Nicolas Dufourcq, chief executive of Bpifrance; Bruno Le Maire, France's minister of economy and finance; Khaldoon Al Mubarak, Mubadala’s group chief executive and Waleed Al Muhairi, chief executive of Mubadala’s Alternative Investments and Infrastructure Platform at the February announcement of Mubadala's backing of the €1bn Large Venture Fund. Courtesy Mubadala

Mubadala backs French healthtech company through European venture capital fund

The $18m invested in Owkin is part of a $70m Series A funding round

TechnologyJuly 02, 2020

Closed shops in the Lara district in Antalya last month, which is usually busy with tourists. Tourism generates about 11 per cent of Turkey's GDP, but the industry has been hit by a lack of travellers as a result of the Covid-19 pandemic. AFP

Turkey faces 'fresh market concerns' over economic policy, Moody's says

Ratings agency forecasts Turkey's economy will contract 5% in 2020, with the downturn concentrated in the first half

EconomyJuly 02, 2020

Trussbridge Advisory, PwC, Hadef & Partners and Cleary Gottlieb Steen and Hamilton have been appointed to handle KBBO Group's restructuring. iStockphoto.com

KBBO appoints restructuring advisers as it takes measures to limit impact of NMC Health

The company says it is seeking a 'fair and balanced outcome' for creditors

BusinessJuly 01, 2020

Sabic reported its a loss in the second quarter on the back of lower selling prices for its products and impairment provisions. Bloomberg

Tadawul becomes one of world's top 10 stock markets

Saudi exchange will introduce derivatives trading this year, starting with an index future followed by single stocks, options and possibly commodities contracts

MarketsJuly 01, 2020

A man waves at passengers on the AIDA prima cruise ship as it docks in DP World's Port Rashid. Proceeds from delisting DP World have been used to help Dubai World repay debt to creditors more than two years ahead of schedule. AFP

Dubai World repays $8.2bn of debt two years ahead of schedule

Final payment on bonds was scheduled to take place in September 2022

BusinessJune 30, 2020