Michael Fahy | The National

Network International's Dubai HQ. The company is implementing cost cutting measures to conserve cash during the crisis. Image courtesy of Network International

Network International reports 26% profit growth as revenue climbs

The company plans to spend $20 million on push into Saudi Arabia this year

BankingMarch 09, 2020

A Kuwaiti trader wears a protective face mask, following the outbreak of the new coronavirus. Trading was suspended last week in the country's premier market after shares hit the maximum daily decline limit of 10%. Reuters

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More than $200bn wiped off Gulf markets in huge one-day slump

Kuwait Premier Market hits stop limit after falling 10% for the second time in six trading sessions

MarketsMarch 09, 2020

A worker wearing a face mask works on a production line manufacturing bicycle steel rims in China's Hangzhou, Zhejiang province. Factory output levels and new orders are recovering in the world's second largest economy. Reuters

China factory output falls by fastest rate on record since 2004

OECD predicts Covid-19 fallout will knock 0.5 per cent off global GDP this year

EconomyMarch 04, 2020

R46MMB Luton/England - October 11, 2018: View from Wizz Air plane during flight on sunny day.

Wizz Air Abu Dhabi to begin flying in the autumn

Joint venture has begun the process of obtaining an operating licence from the UAE General Civil Aviation Authority

AviationMarch 02, 2020

The Grand Street Plaza office block in Westchester County acquired by Gulf Islamic Investments for $230m. It has a leasable area of 20,439 sq m. Courtesy of GII

Gulf Islamic Investment buys property in New York state

The latest deal brings the value of GII's real estate portfolio in the US to more than $230 million

PropertyMarch 01, 2020

Prasanth Manghat's removal came after an independent review into the company’s activities “identified potential discrepancies and inconsistencies” in its bank statements and ledger entries.

NMC Health removes chief executive

Review finds company has guaranteed supply chain financing agreements to the tune of $335m

MarketsFebruary 27, 2020

A graph on a screen showing a downward movement in Germany's DAX index on Thursday. The index was trading 0.6 per cent lower by 5pm UAE time on Wednesday but the Europe-wide Stoxx600 index plummeted to a four-month low. AP Photo

Markets recover from coronavirus sell-off

US equities rebounded on Wednesday after their worst two-day stretch in two years

MarketsFebruary 26, 2020

A Saudi Aramco oil processing facility in Abqaiq, near Dammam. Italy's Saipem and Dammam-based Abdel Hadi Al-Qahtani Group of Companies are pursuing a joint venture with a view to meeting the requirements of Saudi Aramco's In-Kingdom Total Value-Add programme. AP Photo

Italy's Saipem agrees to a Saudi Arabian joint venture

Deal signed with Abdel Hadi Al-Qahtani will create a contracting entity capable of delivering major onshore projects

EnergyFebruary 26, 2020

The Riyadh City project being developed by Abu Dhabi-based Modon Properties will house 200,000 people once complete. Courtesy Modon Properties.

Modon Properties awards Dh2.37bn of Riyadh City South contracts

National Projects and Construction, The Nael & Bin Harmal Hydroexport Establishment and Saif Bin Darwish Company secure deals

PropertyFebruary 25, 2020

Traders on the floor at the New York Stock Exchange. Low interest rates have helped to fuel an equities boom that has seen the S&P 500 index climb 20% in 2019. A study by Bain & Co finds retunrs of private equity firms are no longer starkly outperforming those of equties. Reuters

Private equity funds raised more money in 2019 but only offer returns similar to equities

Bain & Company private equity report finds returns of the industry on par with the S&P 500 over the past decade

EconomyFebruary 25, 2020

Majid Al Futtaim Group's City Centre Almaza project in Egypt, which opened last year. The company's retail business in Egypt increased its contribution to the group's overall earnings to 9 per cent, says chief executive Alain Bejjani. Courtesy of Majid Al Futtaim

Egypt and new markets underpin Majid Al Futtaim growth despite challenges

Company reports a 1% increase in revenue to Dh35.2bn last year

EconomyFebruary 24, 2020

Abu Dhabi Global Markets Courts will offer a service for financially-stressed clients through both a new Pro Bono office in Abu Dhabi Global Markets Square and a dedicated helpline. Photo: Alamy

Carlyle Group to open regional HQ in Abu Dhabi

Private equity giant agrees partnership with Abu Dhabi Catalyst Partners to operate from the city

EconomyFebruary 23, 2020

The Makati central business district of City in Manila, Philippines. Land prices in the district are set to increase 22 per cent year-on-year in 2020, according to Colliers. Getty Images

Young women drive demand for Philippines property

Research from Lamudi and Colliers shows most of those interested in buying homes are in the 25-34 age bracket

PropertyFebruary 20, 2020

NMC Health said on Thursday it is fully committed to investigations after discovery of suspected fraud in its prior financial activities. Reuters

Krupa Global Investors no longer interested in NMC Health stake after BR Shetty's departure

Activist investor had expressed confidence in the company following a 'deep dive' analysis but backed off following resignations of founder and other directors

MarketsFebruary 19, 2020

Residential yields for investors across prime properties in Dubai remained the fourth-highest globally at 4.6 per cent, exceeded only by Los Angeles, Moscow and Cape Town. Alamy

Dubai rents fall fastest in prime cities index but yields remain attractive

City offers the fourth-highest gross return for prime residential property globally, according to Savills

PropertyFebruary 19, 2020