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Posts filtered by tags: United Arab Emirates[x]


 

#SaudiArabia to Restore Postal Service to #Qatar Amid Rift - Bloomberg

Saudi Arabia to Restore Postal Service to Qatar Amid Rift - Bloomberg:Saudi Arabia and Egypt are resuming postal service to Qatar -- frozen during a diplomatic rift that’s lasted nearly three years -- following a similar move by the United Arab Emirates.It wasn’t immediately clear whether the move indicated a broader mending of ties between the states, mired since June 2017 in a dispute that’s hurt trade and split the six-nation Gulf Cooperation Council at a time of heightened tensions with Iran...
Tags: Travel, Saudi Arabia, Qatar, Iran, Egypt, United Arab Emirates, Oman, Gulf Cooperation Council, Rupert Neil Bumfrey, Universal Postal Union, UN 's Universal Postal Union, Restore Postal Service, Qatar Amid Rift Bloomberg


UPDATE 1- #UAE's FAB to decide on Bank Audi's Egypt business acquisition in Q2 - Reuters

UPDATE 1-UAE's FAB to decide on Bank Audi's Egypt business acquisition in Q2 - Reuters:First Abu Dhabi Bank expects to decide in the second quarter whether it will buy Bank Audi’s Egyptian business, a senior executive said on Monday, as it eyes expansion in the Arab world’s most populous nation.FAB, which is the biggest lender in the United Arab Emirates, has identified Saudi Arabia and Egypt as two key markets for overseas expansion, its chief financial officer, James Burdett, told reporters.“W...
Tags: Travel, Saudi Arabia, Egypt, United Arab Emirates, Lebanon, Uae, Reuters, Rupert Neil Bumfrey, KSA Kingdom of Saudi Arabia, First Abu Dhabi Bank, Karim Karoui, James Burdett, Bank Audi, Bank Audi Egypt, Bank Audi Reuters


GP Global announces plans to expand into Americas - Reuters

GP Global announces plans to expand into Americas - Reuters:United Arab Emirates-based oil trader and marine fuel supplier GP Global plans to expand its trading operations to the Americas following the appointment of Gene Owen as president of trading, the company said in a statement on Monday.“In addition to strengthening the company’s capabilities in the important Americas market, the appointment of Mr. Owen will also further bolster GP Global’s international Bunker and Trading division,” the c...
Tags: Travel, Germany, United Arab Emirates, Owen, Rupert Neil Bumfrey, GP Global, Americas Reuters, Gene Owen, Bomin Bunker Oil Corp, Bomin Group, Mabanaft


Middle East #UAE News: 2019 Growth From Oil - Bloomberg

Middle East U.A.E. News: 2019 Growth From Oil - Bloomberg:Economic growth in the United Arab Emirates is estimated to have accelerated last year, but mostly because of oil.Excluding the hydrocarbon industry, the Middle East’s second-biggest economy expanded at the slowest pace since at least 2011, according to central bank forecasts released on Sunday. It grew 1.1% in 2020, compared with 1.3% a year ago, according to the lender’s latest quarterly review. Earlier calculations assumed there would ...
Tags: Travel, China, Iran, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Abu Dhabi Commercial Bank, Rupert Neil Bumfrey, Oil Bloomberg


#UAE economy grew at 2.9% in 2019, central bank says - Reuters

UAE economy grew at 2.9% in 2019, central bank says - Reuters:The United Arab Emirates’ economy grew at 2.9% year-on-year in 2019, up from 1.7% in 2018, a UAE central bank report said.The country’s hydrocarbon sector grew at 7.6% in 2019, while the non-hydrocarbon sector expanded by 1.1%, the bank report said. The central bank said the UAE economy grew 1.3% in the fourth quarter from a year earlier, slowing from a pace of 2.9% in the third quarter.The International Monetary Fund expects the UAE ...
Tags: Travel, Opec, United Arab Emirates, Dubai, International Monetary Fund, Uae, Reuters, Rupert Neil Bumfrey


#UAE c.bank says monitoring job cuts in financial industry - Reuters

UAE c.bank says monitoring job cuts in financial industry - Reuters:United Arab Emirates’ (UAE) central bank said on Saturday it is closely following recent job cuts in the financial sector, after banks in the country shed hundreds of jobs in the last few months.“We are closely following the recent occurrences of downsizing amongst financial institutions in the country to ensure that downsizing is not adversely affecting regulatory compliance and market conduct,” the Central Bank of the UAE said...
Tags: Travel, United Arab Emirates, Uae, Reuters, Rupert Neil Bumfrey, Central Bank of the UAE


#UAE regulator to investigate Pakistan bank for money laundering - Reuters

UAE regulator to investigate Pakistan bank for money laundering - Reuters:The United Arab Emirates’ central bank is investigating Pakistan’s largest bank to ascertain if it violated anti-money- laundering and terrorism-financing laws, the regulator said on Wednesday.The inquiry comes as Pakistan is under examination by a Paris unit of the Financial Action Task Force, a global financial watchdog, for not adequately complying with global regulations on money laundering and terrorism financing.The ...
Tags: Travel, Pakistan, Paris, United Arab Emirates, Uae, Reuters, FATF, Rupert Neil Bumfrey, Financial Action Task Force, Habib Bank Ltd, Central Bank of UAE CBAUE, CBAUE


#UAE News: Government Cracks Down on Misuse of Home Loans - Bloomberg

UAE News: Government Cracks Down on Misuse of Home Loans - Bloomberg: The United Arab Emirates is cracking down on the misuse of home loans to prevent risky borrowing as an ongoing property slump weighs on banks.The central bank issued a notice to lenders “to stop certain unacceptable practices” involving mortgages, which enabled some borrowers to use home loans for purposes other than “constructing, purchasing or renovating a house for owner occupier or investment purposes.”“Any form of persona...
Tags: Travel, Bloomberg, United Arab Emirates, Rupert Neil Bumfrey


UAE News: Nasdaq #Dubai Dealt Blow as Biggest Firm Opts to Delist - Bloomberg

UAE News: Nasdaq Dubai Dealt Blow as Biggest Firm Opts to Delist - Bloomberg:Nasdaq Dubai is about to lose its most valuable stock after DP World Ltd. announced plans to go private.The departure of the ports operator, which has a market capitalization of $11 billion, will increase the gap in trading turnover between Nasdaq Dubai and the two larger United Arab Emirates exchanges. The value of equities changing hands in January on the platform was close to $117 million, compared with about $1.1 bi...
Tags: Travel, Bloomberg, United Arab Emirates, Cairo, Abu Dhabi Securities Exchange, EFG Hermes, Rupert Neil Bumfrey, Nasdaq Dubai, DP World Ltd, Dubai Financial Market PJSC, Dubai Dealt Blow, Delist Bloomberg, Ahmed Hazem Maher


UNESCO to begin work on Church in Mosul

UNESCO to begin work at Al-Tahera Church in Mosul UNESCO will soon start reconstruction of the Syriac Catholic Al-Tahera Church in Mosul, Iraq, that was severely damaged in 2017. More than a church, Al Tahera is a symbol of the diversity that has been the story of Mosul for centuries. An iconic symbol woven into the history of Mosul, Al-Tahera Church was built in 1859 and opened in 1862. The Church is located in the heart of the old city, formerly defined by the Ottoman city walls on the wes...
Tags: News, Iraq, Unesco, United Arab Emirates, Iraq Business News, Mosul, Mosul Iraq, Tigris River, University of Mosul, Al Tahera, Al Tahera Church in Mosul UNESCO, Syriac Catholic Al Tahera Church, Mosul Al Tahera Church


Billionaire B.R. Shetty Resigns from #AbuDhabi’s NMC Health - Bloomberg

Billionaire B.R. Shetty Resigns from Abu Dhabi’s NMC Health - Bloomberg:NMC Health Plc, a hospital operator targeted by short seller Muddy Waters, said founder Bavaguthu Raghuram Shetty resigned amid a review into whether he misrepresented his holdings in the company.Co-Chairman Shetty stepped down with immediate effect, along with Chief Investment Officer Hani Buttikhi and board member Abdulrahman Basaddiq, the company said. Last week, NMC removed Shetty from board meetings on concern he missta...
Tags: Travel, United Arab Emirates, Abu Dhabi, Co, NMC, Shetty, Rupert Neil Bumfrey, Abudhabi, Bavaguthu Raghuram Shetty, NMC Health Plc, First Abu Dhabi Bank, NMC Health Bloomberg, Hani Buttikhi, Abdulrahman Basaddiq, Al Salam Bank Bahrain, BRS International Holding


Luxury travel news this week

Here’s a round-up of luxury travel stories that have caught the eye this week. To make sure you receive these new weekly alerts in your web browser, please click on the red bell icon in the bottom right hand corner of the page and click ‘subscribe’ (works on desktop only – for other ways to […] The post Luxury travel news this week appeared first on A Luxury Travel Blog.
Tags: Travel, Asia, Europe, Featured, Air Travel, Saudi Arabia, Africa, Spain, Egypt, Attractions, Middle East, United Arab Emirates, Oman, Maldives, Regions, Going Out


Top NMC shareholder Muhairi quits board amid turmoil | Financial Times

Top NMC shareholder Muhairi quits board amid turmoil | Financial Times:Khalifa al-Muhairi, one of NMC’s controlling shareholders, has resigned from the board of the healthcare group after a turbulent few months in which the company’s finances and ownership structure have been questioned.The largest private healthcare provider in the United Arab Emirates said Mr Muhairi, the executive vice-chairman, stepped down on Friday. Along with India-born founder BR Shetty, he had been asked to step back fr...
Tags: Travel, UK, India, Fbi, United Arab Emirates, Financial Times, Saeed, Louis Freeh, NMC, Rupert Neil Bumfrey, Muhairi, BR Shetty, Khalifa al Muhairi, Mr Muhairi, Messrs Shetty, Qebaisi Abu Dhabi


5 ways to make your family trip to Dubai enjoyable for parents and children

Before we had children, we had our holidays. Sometimes city breaks, sometimes lazy weeks by the sea together, always relaxing and luxurious: it was our quality time to unwind, explore and enjoy some downtime. Fast forward to 2020 and here we are, a happy family with very different needs when it comes to holidays. As […] The post 5 ways to make your family trip to Dubai enjoyable for parents and children appeared first on A Luxury Travel Blog.
Tags: Travel, Featured, Attractions, Middle East, United Arab Emirates, Dubai, Family Travel, Regions, Going Out, Speciality Travel


#AbuDhabi's NMC Health Target Slashed 85% at Societe Generale - Bloomberg

Abu Dhabi's NMC Health Target Slashed 85% at Societe Generale - Bloomberg:NMC Health Plc received its first analyst downgrade after short seller Muddy Waters Capital LLC published a critical report on the hospital operator in December, sending the stock tumbling 69% since then.Societe Generale cut its rating to sell from buy and slashed its price target by 85%, saying that confidence in the operator of the biggest medical network in the United Arab Emirates is “broken” after recent issues around...
Tags: Travel, United Arab Emirates, Abu Dhabi, Societe Generale, NMC, Muddy Waters Capital LLC, Rupert Neil Bumfrey, Abudhabi, Bavaguthu Raghuram Shetty, NMC Health Plc, Societe Generale Bloomberg, Delphine Le Louet


REFILE-Investors oppose delisting of #Dubai real estate fund amid property slump - Reuters

:Dubai real estate investment trust ENBD REIT is facing opposition to going private from some shareholders who fear the move could further erode its value, two sources said.The trust, managed by the asset management unit of Emirates NBD, Dubai’s largest bank, has said it plans to delist because of low trading liquidity and a more than 50% discount on its shares versus the net asset value of the fund.Dubai’s property market has been hit by oversupply and sluggish growth in the private sector, whi...
Tags: Travel, United Arab Emirates, Dubai, Reuters, Rupert Neil Bumfrey, Emirates NBD Dubai, ENBD


#UAE's Dana Gas receives bids for Egyptian assets - Reuters

UAE's Dana Gas receives bids for Egyptian assets - Reuters:United Arab Emirates-based Dana Gas (DANA.AD) said on Wednesday it has received bids from some companies for its assets in Egypt.“We have received a number of bids from a number of companies,” the company’s CEO Patrick Allman-Ward said on an earnings call, declining to say how many bids or from which companies.The CEO said a final decision had not been taken on whether the company will sell its Egyptian assets. He said offers would be su...
Tags: Travel, Egypt, United Arab Emirates, Uae, Reuters, Dana Gas, Rupert Neil Bumfrey, Patrick Allman Ward, Dana Gas DANA AD, Allman Ward


Supercars to snowmobiles – 7 of the world’s best driving experiences

If you’re at your happiest behind the wheel of a vehicle then we’ve got something really special for  you. We’ve compiled a list of seven of the world’s best driving experiences that you’re sure to love, but you don’t have to be a dedicated motorhead to get the most out of these incredible experiences, if […] The post Supercars to snowmobiles – 7 of the world’s best driving experiences appeared first on A Luxury Travel Blog.
Tags: Travel, Europe, Usa, Sweden, Mexico, Germany, United Kingdom, Middle East, United Arab Emirates, New Zealand, Nevada, North America, Oceania, Regions, Speciality Travel, Western Europe


FTSE dream in tatters for NMC founder BR Shetty | Financial Times

FTSE dream in tatters for NMC founder BR Shetty | Financial Times:For almost five decades, Indian businessman BR Shetty has represented the ultimate expat dream.Arriving in Abu Dhabi two years after the formation of the United Arab Emirates, he built two businesses that would elevate him into the pantheon of global billionaires after they listed on the London Stock Exchange.Now, FTSE 100 healthcare provider NMC Health and Finablr, the financial services group that owns currency provider Travelex...
Tags: Travel, London, London Stock Exchange, United Arab Emirates, Abu Dhabi, NMC, Shetty, Travelex, Rupert Neil Bumfrey, NMC Health, BR Shetty, Saeed Al Qebaisi, Khalifa al Muhairi


#Saudi Wealth Fund Leads Fundraising for Online Used Car Trader - Bloomberg

:A unit of Saudi Arabia’s sovereign wealth fund is leading a $35 million funding round for SellAnyCar.com as the Dubai-based online car trader plans to expand in the kingdom.Sanabil Investments is backing the start-up’s latest fundraising, along with Gulf Investment Corp. and Olayan Financing Co., Chief Executive Officer Saygin Yalcin said in an interview. Evercore Inc. is advising SellAnyCar.com, he said.“Expansion in Saudi Arabia is going to be the number one use for these funds, and this will...
Tags: Travel, Saudi Arabia, United Arab Emirates, Dubai, Rupert Neil Bumfrey, Olayan Financing Co, Sanabil Investments, Evercore Inc, Yalcin, Gulf Investment Corp, Saygin Yalcin


#UAE News: #Dubai’s Jobs Vanish at the Fastest Pace in a Decade - Bloomberg

UAE News: Dubai’s Jobs Vanish at the Fastest Pace in a Decade - Bloomberg:Business growth in Dubai stalled while jobs disappeared at the fastest pace in at least a decade in the latest signs of strain on the Middle East’s commercial hub.Operating conditions in Dubai’s non-oil private sector worsened in January for a third straight month to the lowest level in nearly four years, according to IHS Markit. Its Purchasing Managers’ Index dropped to 50.6, barely above the threshold that separates grow...
Tags: Travel, Bloomberg, Middle East, United Arab Emirates, Dubai, Emirates NBD, David Owen, IHS, Rupert Neil Bumfrey, IHS Markit


Muddy Waters Target NMC Health Plc Has a Credibility Problem - Bloomberg

Muddy Waters Target NMC Health Plc Has a Credibility Problem - Bloomberg:When short-sellers such as Muddy Waters Capital LLC accuse listed companies of balance sheet manipulation, the target typically responds with their own lengthy rebuttal. Other investors caught in the middle often don’t know what to think and so a lot depends on the board’s credibility and transparency.NMC Health Plc, the subject of Muddy Waters’s latest attack, is now a little short of both.On Monday, the United Arab Emirat...
Tags: Travel, Bloomberg, United Arab Emirates, NMC, Rupert Neil Bumfrey, Bavaguthu Raghuram Shetty, NMC Health Plc


#UAE restores postal service to #Qatar despite protracted dispute - Reuters

UAE restores postal service to Qatar despite protracted dispute - Reuters:The United Arab Emirates has resumed postal services to Qatar nearly three years after they were suspended due to a Gulf Arab political dispute.The move followed a meeting of parties involved in the dispute with the United Nations postal agency.Indirect services began on Feb. 9 with mail transported via Oman, according to a notice from state-run Emirates Post sent to other postal firms and seen by Reuters. It was not immed...
Tags: Travel, Qatar, Egypt, United Nations, United Arab Emirates, Oman, Doha, Uae, Reuters, Rupert Neil Bumfrey, UAE Saudi Arabia Bahrain, Emirates Post


Luxury travel news this week: Coronavirus special

Here’s a round-up of luxury travel stories that have caught the eye this week. To make sure you receive these new weekly alerts in your web browser, please click on the red bell icon in the bottom right hand corner of the page and click ‘subscribe’ (works on desktop only – for other ways to […] The post Luxury travel news this week: Coronavirus special appeared first on A Luxury Travel Blog.
Tags: Travel, Asia, Featured, China, Attractions, Middle East, United Arab Emirates, Regions, Going Out, Travel Miscellany, Health & Safety


How to Be in the Richest 1% Around the World - Bloomberg

How to Be in the Richest 1% Around the World - Bloomberg:The “top 1%” is the symbol of wealth and power thanks to a protest movement. Since Occupy Wall Street popularized the term almost a decade ago, inequality has surged, and this exclusive group has only gotten richer and more influential.Yet the top 1% covers a wide span, from prosperous professionals to billionaires with more wealth than many nations. And the difficulty of making the cut varies greatly depending on where you live.To join th...
Tags: Travel, India, United Arab Emirates, Rupert Neil Bumfrey, World Bloomberg


First Abu Dhabi Bank Becomes Latest #UAE Lender to Cut Jobs - Bloomberg

First Abu Dhabi Bank Becomes Latest U.A.E. Lender to Cut Jobs - Bloomberg:First Abu Dhabi Bank PJSC cut hundreds of jobs, according to people with knowledge of the matter, making it the latest United Arab Emirates’ lender to shed staff as sluggish growth weighs on the finance industry.The country’s biggest bank dismissed hundreds of employees in recent weeks across several divisions, the people said, asking not to be identified because the matter is private. First Abu Dhabi Bank, which was creat...
Tags: Travel, Bloomberg, United Arab Emirates, Rupert Neil Bumfrey, Emirates NBD PJSC, First Abu Dhabi Bank, First Abu Dhabi Bank PJSC, Commercial Bank International PSC


Virus Fallout Lays Bare Vulnerability of Persian Gulf Assets - Bloomberg

Virus Fallout Lays Bare Vulnerability of Persian Gulf Assets - Bloomberg:It’s been a one-two punch for Gulf markets this year. First came the flare-up when the U.S. assassinated one of Iran’s top generals. Now, the region’s stocks and bonds are suffering the economic fallout from the coronavirus.Valuations in the six-nation Gulf Cooperation Council were stretched heading into 2020, making them vulnerable to a decline in risk appetite, according to Tellimer, a brokerage focusing on frontier marke...
Tags: Travel, Bloomberg, Iran, GCC, United Arab Emirates, Dubai, Gulf, Gulf Cooperation Council, Persian Gulf, Rupert Neil Bumfrey, IHS Markit, Hasnain Malik Tellimer


Mubadala Weighs Buying Jadwa’s #UAE Health-Care Assets - Bloomberg

Mubadala Weighs Buying Jadwa’s U.A.E. Health-Care Assets - Bloomberg:Mubadala Investment Co. is in talks to buy Jadwa Investment Co.’s health-care assets in the United Arab Emirates, according to people familiar with the matter.The Abu Dhabi-based wealth fund is working with Rothschild & Co. on structuring a potential deal with the Saudi Arabian private equity group, some of the people said, asking not to be identified because the talks are private.Jadwa owns a 42% stake in Abu Dhabi-based Unite...
Tags: Travel, Saudi Arabia, United Arab Emirates, Abu Dhabi, Rupert Neil Bumfrey, Mubadala, Mubadala Investment Co, Rothschild Co, Jadwa, Mubadala Weighs Buying Jadwa, UAE Health Care Assets Bloomberg, U A E Health Care Assets Bloomberg, Jadwa Investment Co, United Eastern Medical Services LLC, Al Muhaideb Dental Clinics Group


#UAE News: Business Growth Halts for First Time Since 2009 - Bloomberg

UAE News: Business Growth Halts for First Time Since 2009 - Bloomberg:Business conditions in the United Arab Emirates worsened for the first time in over a decade as the virus outbreak in China risks further disruption to the Gulf nation’s trade and tourism.Hurt by employment losses and a drop in new orders, operating conditions in the second-biggest Arab economy deteriorated in January, according to IHS Markit. Its U.A.E. Purchasing Managers’ Index, a snapshot of the country’s non-oil private s...
Tags: Travel, China, Bloomberg, United Arab Emirates, Gulf, David Owen, Rupert Neil Bumfrey, IHS Markit


UPDATE 1- #UAE's Tabreed close to buying Emaar Properties' district cooling unit -sources - Reuters

UPDATE 1-UAE's Tabreed close to buying Emaar Properties' district cooling unit -sources - Reuters:Dubai-listed National Central Cooling Co (Tabreed) is in advanced talks to buy Emaar Properties’ district cooling business, two sources familiar with the matter said.District cooling firms deliver chilled water via insulated pipes to cool offices, industrial and residential buildings. The Emaar business was established in 2004 and operates in United Arab Emirates, according to the company’s Linkedin...
Tags: Travel, France, Hsbc, United Arab Emirates, Dubai, Abu Dhabi, Uae, Reuters, Emaar Properties, Emaar, Rupert Neil Bumfrey, Mubadala Investment Company, Tabreed, National Central Cooling Co Tabreed, Engie SA ENGIE PA



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