Dubai: Dubais tenants are in the mood to upgrade and this is showing up in residential rents at key locations. With tenants moving to new more spacious homes, rents at some of the budget-friendly locations such as Discovery Gardens are coming under further pressure.
In fact, Discovery Gardens has ...

https://gulfnews.com/business/property/dubais-most-affordable-locations-see-more-rent-drops-discovery-gardens-dips-most-1.1620102833915

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Mumbai: The Serum Institute of India, which manufactures the AstraZeneca COVID-19 vaccine, is planning to start vaccine production in other countries as it struggles to meet supply commitments, its chief executive officer told The Times.
"There's going to be an announcement in the next few days...

https://gulfnews.com/business/indias-serum-institute-plans-to-start-vaccine-production-outside-india-1.1619839321838

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Sydney: People arriving in Australia from coronavirus-ravaged India could face five years jail as the country strengthens an earlier travel ban, the government announced Saturday, in a bid to prevent the outbreak from spreading to its shores.
From Monday, any traveller into Australia who has been in...

https://gulfnews.com/business/aviation/india-travel-ban-australia-threatens-jail-for-those-breaching-covid-19-travel-ban-1.1619838591583

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New York: Twenty-somethings dreaming of Excel all-nighters are facing their best prospects in years.
HSBC Holdings Plc this week became the latest global investment bank pledging to hire a flock of junior bankers to help analysts and associates avoid burnout amid an avalanche of deals. JPMorgan ...

https://gulfnews.com/business/banking/wall-street-hiring-spree-puts-junior-bankers-in-driving-seat-1.1619843797345

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Abu Dhabi: The Central Bank of the UAE (CBUAE) has issued a new regulation covering licensing, prudential and conduct requirements for specialised banks.
Specialised banks are licensed under the CBUAEs new regulation and are allowed to practice different financial activities to serve the local ...

https://gulfnews.com/business/banking/central-bank-of-uae-issues-specialised-banks-with-low-risk-regulation-1.1619851016879

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Dubai: Abu Dhabi's Mubadala Investment Co. has picked Bank of America Corp. and Morgan Stanley to advise on a potential initial public offering of satellite operator Yahsat, people familiar with the matter said.
Al Yah Satellite Communications Company, owned by the $232 billion state-controlled ...

https://gulfnews.com/business/markets/mubadala-is-said-to-pick-banks-for-ipo-of-satellite-firm-yahsat-1.1619935003729

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Dubai: New orders and business activity improved for UAEs private businesses during April, showing further signs of continued economic recovery from COVID-19s impact.
But for those seeking a new job opportunity or a change of organisation, the picture is not yet turning rosy. In fact, employment ...

https://gulfnews.com/business/markets/business-activity-picks-up-in-uaes-private-sector-but-jobs-drop-for-third-month-ihs-markit-1.1620102276244

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Dubai: Most of the leading banks in the UAE have declared their first quarter 2021results pointing to improving operating conditions.
While year on year profit gains have been modest at best for most banks, they have made significant gains over the previous quarter and other preceding quarters.
...

https://gulfnews.com/business/banking/what-q1-financial-results-of-top-four-banks-say-about-uaes-banking-sector-1.1619847404057

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Dubai: Dubaiwill build a new business park to host specialised agricultural firms as the Middle East's business hub pushes for food security.

The first phase of the project, dubbed "Food Tech Valley," will include headquarters, research and development facilities, innovation center, smart food ...

https://gulfnews.com/business/dubai-launches-new-park-for-food-firms-in-vertical-farming-push-1.1619864259315

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Kuwait City: On Friday, Kuwait Airways announced on their official Twitter account that they will be resuming flights to London as of May 5.
According to the Twitter post, one flight is scheduled for the 5th but sources revealed that there will be regular flights after the date.
Flights were ...

https://gulfnews.com/world/gulf/kuwait/covid-19-kuwait-airways-to-resume-flights-to-london-from-may-5-1.78893106

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Dubai: Dubai and Abu Dhabi stocks headed upward in early trades as robust first-quarter earnings kept the momentum going for the markets, while Qatar Exchange pulled back after undergoing a wide selloff.
Dubai Financial Market eked out 0.4 per cent at 2,616 points with Air Arabia appreciating past 2...

https://gulfnews.com/business/markets/uae-stocks-keep-the-gains-coming-1.1619941457431

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Dubai: Bank of Sharjah Group reported a consolidated net loss of Dh666 million for 2020 after making significant provisions for its Lebanese subsidiary Emirates Lebanon Bank SAL (ELBank).
The application of hyperinflation effect on Lebanese operations as per the International Accounting ...

https://gulfnews.com/business/banking/bank-of-sharjah-group-reports-dh666-million-consolidated-net-loss-1.1619958239232

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Dubai: Dubai residents holding a basic health insurance policy will need a new policy or an upgrade to keep buying prescribed medicines under insurance coverage.
This comes after several branded medicine prescriptions that were earlier part of the Dh600 a year Essential Benefits Plan were removed ...

https://gulfnews.com/business/markets/in-dubai-a-dh600-basic-health-insurance-will-no-longer-cover-most-branded-medicines-1.1620011593581

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Business class was that silent and spacious sanctuary for the well-heeled, at least until the pandemic destroyed global aviation. But as flights creep back, this once-exclusive haven is being invaded, by the masses.
Flush with cash and a record number of air miles after a year on the ground, leisure...

https://gulfnews.com/business/aviation/business-class-demand-is-booming-as-ticket-rates-drop-and-travellers-redeem-air-miles-1.1620019955343

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Dubai: In another boost for UAEs real estate sector, Ras Al Khaimahs master-developer RAK Properties recorded net profits of Dh64.13 million for the first three months of 2021, against Dh12.04 million.
The numbers were lifted by other income, at Dh26.05 million compared to Dh10.42 million a year ago...

https://gulfnews.com/business/property/rak-properties-is-latest-uae-developer-to-confirm-upbeat-q1-2021-results-with-profit-at-dh64m-1.1620021067144

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Dubai: Apart from COVID-19 cases surging, Indias airlines have another problem to contend with the cap on ticket rates.
The countrys aviation regulator has extended the capping of fares on all domestic flights until May 31 and limited capacity at 80 per cent of pre-pandemic levels. With the current ...

https://gulfnews.com/business/aviation/indias-airlines-have-another-problem-to-deal-with---cap-on-domestic-ticket-rates-1.1620015233847

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Washington: The United States on Friday placed India and eight other countries on the Priority Watch List for IP protection and enforcement.
The other countries that have been put on the list are Argentina, Chile, China, Indonesia, Russia, Saudi Arabia, Ukraine and Venezuela.
In its "Special 301 ...

https://gulfnews.com/business/intellectual-property-protection-us-puts-india-on-priority-watch-list-1.1619848613356

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Abu Dhabi: Abu Dhabi National Energy Company (TAQA), one of the largest listed integrated utility companies in the EMEA region, announced the placement of $1.5 billion in 7-year and 30-year dual-tranche senior unsecured notes.T
he 7-year notes, sized at $750 million and maturing April 2028, were ...

https://gulfnews.com/business/banking/uaes-taqa-group-completes-15b-7-year-and-30-year-dual-tranche-bond-offering-1.1619934121405

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Dubai: Dubai Investments PJSC (DIC) reported a surge in Q1 2021 net profit to Dh123.8 million compared to a loss of Dh6.8 million in the same period last year.
Total income increased to Dh637.6 million compared to Dh464.8 million in the first quarter of 2020, on the back of strong performances led ...

https://gulfnews.com/business/markets/dubai-investments-reports-dh1238m-q1-net-profits-1.1619940195823

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Israeli traders can now trade on DGCX

The DGCX Group receives a permit from the Israel Securities Authority (ISA)
Dubai: The Dubai Gold & Commodities Exchange (DGCX) Sunday announced that it has received a permit from the Israel Securities Authority (ISA), enabling qualified Israeli corporations ...

https://gulfnews.com/business/markets/israeli-traders-can-now-trade-on-dgcx-1.1619942721827

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Dubai: Dubai-based budget carrier flydubai on Sunday reported a loss of Dh712.6 million for the period ending December 31, 2020.
The airline, which carried 3.2 million passengers last year, said its total annual revenue fell nearly 53 per cent to Dh2.8 billion in 2020, compared to the same period a ...

https://gulfnews.com/business/aviation/budget-carrier-flydubai-reports-53-drop-in-2020-revenue-due-to-pandemic-hit-1.78915946

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Miami: Cruise ships may be able to resume sailing from ports in Florida in mid-July after being shut down for over a year by the coronavirus pandemic, according to new guidelines from US health authorities.
The US Centers for Disease Control (CDC) informed cruise companies on Wednesday of the ...

https://gulfnews.com/business/tourism/us-cruise-ships-could-sail-again-by-july-cdc-1.1619768592598

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New Delhi: India on Friday extended the suspension on international commercial flight operations till May 31, 2021.
However, international passenger flights under air travel bubble arrangements will continue.
"In partial modification of circular dated 26-06-2020, the competent authority has further ...

https://gulfnews.com/business/aviation/covid-19-india-suspends-international-flights-till-may-31-1.1619770145836

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Sydney: People arriving in Australia from coronavirus-ravaged India could face five years jail as the country strengthens an earlier travel ban, the government announced Saturday, in a bid to prevent the outbreak from spreading to its shores.
From Monday, any traveller into Australia who has been in...

https://gulfnews.com/business/aviation/australian-threatens-jail-for-those-breaching-india-travel-ban-1.1619838591583

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Dubai: The carriage of passengers from India to the UAE has been further suspended until May 14, 2021.
Passengers who have transited through India in the last 14 days are not permitted to board from any other point to the UAE, an April 29-dated advisory seen by Gulf News said.
Here's what passengers...

https://gulfnews.com/business/aviation/uae-india-flight-ban-should-i-re-book-my-tickets-1.1619856982244

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Dubai: Since its inception in May 2017, AREA 2071, the innovation ecosystem of Dubai Future Foundation (DFF), has hosted more than 780 physical and over 80 virtual events, including conferences, forums, workshops and interactive sessions, that have attracted more than 26,000 participants from around...

https://gulfnews.com/business/dubais-area-2071-hosts-more-than-800-events-1.1619871708863

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Dubai: The UAE economy performed better than expected in 2020 despite the current global challenges brought about by the COVID-19 pandemic, said Abdulla Bin Touq Al Marri, UAE Minister of Economy, following the issuance of the preliminary results of the countrys economic performance by the Federal ...

https://gulfnews.com/business/uae-economy-on-track-towards-recovery-in-2021-1.1619925458010

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RAKBank provides retail and commercial banking services through a network of 27 branches in the UAE.
The bank, with a market capitalization of Dh6.53 billion and a dividend yield of 3.93 per cent, is on a recovery path post-COVID-19. Most UAE banks that have announced results have seen a rise in net...

https://gulfnews.com/business/markets/rakbanks-turnaround-story-will-have-caught-investors-eye-1.1620026547988

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Dubai: Sure, investors are making a return to buying or renting luxury homes in Dubai but they are doing so at a bargain.
These days, renting out a $10,000 a month luxury home will provide access to a 4,800 square feet home in Dubai. Thats against the 1,500 square feet a similar sum will fetch in ...

https://gulfnews.com/business/property/fewer-bargains-likely-for-dubais-luxury-homes-sales-or-rentals-knight-frank-1.1620028257506

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Dubai: Ahead of the crucial Eid holiday break, UAEs hotels are once again relying on residents and staycation packages to drive occupancy numbers, with rooms at some of the best hotels going for between Dh800-Dh1,500.
If the guest wants to scale down the luxury add-ons, stays can be booked from ...

https://gulfnews.com/business/tourism/for-this-eid-break-uae-hotels-do-have-a-staycation-offer-to-suit-all-budgets-1.1620098388224

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