Covid-19 impact on the GCC’s real estate sector: Are there any housing concerns?

How can real estate developers in the GCC adapt to the upheaval that the coronavirus has caused across the region?

Founder of Bahrain’s Investcorp Nemir Kirdar dies

Kirdar founded the company in 1982 and led it for over three decades

Coronavirus Testing Laboratory

UAE reports 603 new cases; stops use of hydroxychloroquine for serious Covid-19 patients

The total number of cases detected in the country has risen to 40,507

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UAE Central Bank projects economic recovery in second half of 2020

Non-oil growth is projected to contract by 4.1 per cent in 2020 due to the adverse implications of Covid-19

Etihad’s Travel Voucher offers 50% cash bonus on tickets booked until June 24

The vouchers are valid for two years

honda-hq

Cyber-attack forces Honda to halt production at a few of its factories

Investigators believe that the virus was a type of ransomware called Snake

GCC Covid-19 update: Saudi reports 3,717 cases; 36 deaths; Kuwait registers 683 cases

The death toll in Saudi Arabia and Kuwait has risen to 819 and 275 respectively

Outward personal remittances from the UAE in Q1 2020 increased 7.8% y-on-y

The top five destination countries for remittances were India, Pakistan, Philippines, Egypt and the US

Kuwait will not hire expats in the oil sector – minister

No expatriates will be hired for positions in Kuwait Petroleum Corporation (KPC) and its subsidiaries for the year 2020-21

Dubai’s City Centre Deira to open renovated East Court amid Dhs377m redevelopment project

The redevelopment project is in response to a shift in consumer preferences for personalisation and engaging experiences

Four MENA IPO deals raise $814.2m in Q1 2020

Globally, 235 IPOs raised $28.5bn in Q1 2020, compared to $15.1bn in Q1 2019

Bahrain’s GFH Financial Group lists $200m sukuk on Nasdaq Dubai

This marks GFH’s second sukuk listing on Nasdaq Dubai, following the listing of a $300m sukuk in February this year

Deutsche Bank’s head of EMEA to exit the company

Ashok Aram, who also heads the firm’s international private and commercial bank operations, is departing for personal reasons

Covid-19 impact on the GCC’s travel and tourism sector: When will it pick up again?

The travel and tourism industry has indisputably faced the biggest brunt of the Covid-19 pandemic. Are there answers on when things will improve?

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UAE’s non-oil trade totals Dhs1.603 trillion in 2019

The UAE’s non-oil trade in 2019 grew 4.4 per cent from Dhs1.536 trillion in 2018

Saudi to use smart helmets to monitor people’s body temperatures

The helmets can detect body temperatures when a person is up to five metres away and they can examine up to 200 people per minute

Oil retreats toward $38 on signs US crude stockpiles expanded

Futures dropped 1.9 per cent in New York, erasing almost all of the gains from the previous session

Khalifa University Twitter

Emirati develops web tool to analyse Covid-19 data on Twitter in the UAE

The predominant topic of the tweets ranged from the origin of the disease, its spread, government responses and treatments

UFC Fight Island Yas Island Abu Dhabi

Confirmed: UFC Fight Island to take place in Abu Dhabi next month

The events are scheduled for July 11, 15, 18 and 25 at Yas Island

Dubai carrier Emirates starts cutting thousands of jobs

The majority of those being retrenched are cabin-crew members

IBM to no longer develop facial recognition technology

“We believe now is the time to begin a national dialogue on whether and how facial recognition technology should be employed by domestic law enforcement agencies”

Bank of America acquires stake in Dubai’s Emirates NBD

The acquisition of a 100 million shares is worth around Dhs900m

schools uae

UAE denies reports that students will return to their campuses in August

The new academic year will begin on August 30

Home security

Over 80% of UAE firms faced a cyber-attack in 2019: Are you protected?

With remote working, there is an added impetus on organisations to find and fix the weakest links when it comes to cyber security

Dubai’s Emirates to fly to Kabul starting June 25

From June 8, Emirates will also offer flights from Karachi, Lahore and Islamabad for travellers from Pakistan who wish to connect onwards to other destinations

Uber’s Middle East unit Careem sees recovery after 80% slump

According to the CEO, Careem has ruled out further job cuts after reducing staff by 31 per cent in May

Meraas to become part of conglomerate Dubai Holding

The combined conglomerate will operate across real estate, tourism, hospitality, leisure and entertainment and investments

Abu Dhabi City United Arab Emirates

Abu Dhabi follows Saudis in raising crude prices amid OPEC+ cuts

Murban for March sold at a $1.88 premium over the regional benchmark before plunging to discounts. For July, it will sell at a $1 premium

Saudi Arabia to end extra voluntary oil cuts after June

Brent crude, the international benchmark, fell 2.5 per cent to $41.23 a barrel at 4.29pm in London, erasing earlier gains

Air Arabia to operate special repatriation flights to Egypt

Only Egyptian nationals will be allowed to board these flights scheduled between June 11-16