Many schools in Dubai have measures in place to mitigate the stress on parents who are struggling financially. Image Credit: Gulf News archives Dubai : Parents of school going students in Dubai are calling upon the Knowledge and Human Development Authority (KHDA) to intervene with educational institutions to drop tuition fees and waive next year’s[…]

DUBAI, United Arab Emirates — Dubai’s premier developer Emaar Properties posted on Monday net profits of $1.68 billion for 2019, but revenue slightly dipped for the builder of the world’s tallest tower as it faces an even tougher year ahead due to the global coronavirus pandemic. Emaar said that in view of current circumstances, the[…]

Dubai’s Emaar posts $1.68B in profit, but revenue slips DUBAI, United Arab Emirates — Dubai’s premier developer Emaar Properties posted on Monday net profits of $1.68 billion for 2019, but revenue slightly dipped for the builder of the world’s tallest tower as it faces an even tougher year ahead due to the global coronavirus pandemic.[…]

DUBAI, UAE – The Dubai property crash Mark II which began in 2014 is gaining momentum due to the coronavirus pandemic. Damac, one of the emirate’s biggest developers has recorded a $10 million loss, while Limitless is planning a restructure proposal to put to its creditors. In October a $315 million 101 floor skyscraper, was[…]

Residential properties in Dubai. Photographer: Christopher Pike/Bloomberg Photographer: Christopher Pike/Bloomberg A decade after the global financial crisis pushed Dubai’s real estate sector — known for its outlandish projects such as man-made palm-shaped islands — to the brink of collapse, the deadly coronavirus pandemic threatens to send it back there again. S&P Global Ratings is warning that[…]

While many have likened the current coronavirus pandemic to the global financial crash in 2008, Dubai’s real estate experts are offering up a more optimistic outlook amid all the doom and gloom The financial scars of the 2008 banking crisis had long since disappeared, but the traces of its impact are still clearly visible. Parking[…]

MOST Middle Eastern stock markets fell on Sunday, with Kuwait’s main index leading losses after S&P Global Ratings cut the government’s credit rating last week. The Boursa Kuwait Premier Market Price index lost as much as 4.7%, with Kuwait Finance House, National Bank of Kuwait and Ahli United Bank dropping more than 3.9%. Kuwait was[…]

LONDON: Sovereign wealth funds from oil-producing countries mainly in the Middle East and Africa are on course to dump up to $225 billion in equities, a senior banker estimates, as plummeting oil prices and the coronavirus pandemic hit state finances. The rapid spread of the virus has ravaged the global economy, sending markets into a[…]

Dubai-based Indian businessman Ajay Sobhraj has donated a property in Dubai to turn it in to a quarantine centre. Image Credit: Dubai: Ajay Sobhraj, Founder and Chairman of Dubai-based Finja Jewellery, has donated a building in Jumeirah Lake Towers (JLT) to be used as a quarantine centre. The gesture reflects the support that the Dubai[…]

Sign up here for our daily coronavirus newsletter on what you need to know, and subscribe to our Covid-19 podcast for the latest news and analysis. Limitless World LLC is close to hiring financial and legal advisers for the Dubai-based developer’s third restructuring as the emirate’s on-going property slump is set to worsen. The company[…]