Creditors, mainly Indian public sector banks, took over Jet in early 2019 but failed to keep it operating as its cash crunch grew.
A consortium comprising a UAE-based entrepreneur and Kalrock Capital was given the final go-ahead to rescue the...
Sellers may take a commercial decision to absorb VAT in order to make the price of promotional goods more attractive to potential buyers.
The UAE's Federal Tax Authority (FTA) has clarified that "VAT-free special offers" are misleading and contrary to...
Global oil demand is expected to rebound to pre-pandemic levels by 2022 while supply tightens, creating a deficit, Energy Intelligence has reported, quoting the chief executive officer of Saudi Aramco.
Amin Nasser said China would once again be the focus...
Asks lenders for debt standstill deal related to their Target exposures
Dubai: Arabtec Holding asked banks this week for a three-month standstill on debt repayments for its subsidiary Target, sources said, as the Dubai-listed builder that is facing liquidation seeks...
Shuaa raised over $140 million in the last 3 months
Dubai: Shuaa Capital on Sunday announced that it has launched a $200 million ‘Shuaa Financing Opportunities Fund’ targeting special situations in the GCC. The fund has already attracted a total...
Gulf economies can take a slower growth in global oil demand in its stride
The latest forecasts from OPEC (Organisation of Petroleum Exporting Countries) have confirmed what we said two weeks ago - that the worst phase for the oil...
Many of them can barely make ends meet, but they say they can’t go back home either
Dubai: Ever wondered how some UAE residents are living their lives in the emirates with no jobs or source of income? Well, many...
Global growth forecast has been slightly revised upwards.
The International Monetary Fund (IMF) on Tuesday further revised down the UAE's economic growth forecast, projecting a 6.6 per cent contraction for this year and a recovery of 1.3 per cent for...
Flights were dues to start in October, but were slated because of COVID-19 numbers rising
The air link announced after the two states signed the deal at the White House last month aims to open up tourism and new business...
US producers begin restoring output after Hurricane Delta; Norwegian strike affecting production ends
LONDON: Oil prices fell on Monday as force majeure at Libya’s largest oilfield was lifted, a Norwegian strike affecting production ended and US producers began restoring output...
