Saudi Binladin group hires Houlihan Lokey for $15bn debt revamp

The restructuring is aimed at reorganising Binladin’s assets into sector-led businesses and streamlining operations

Warmest oceans on record add to hurricanes, wildfires risks

Worldwide, sea temperatures were 1.49 degrees Fahrenheit above average in March which is the second highest level recorded since 1880 for the month of March, according to US data

Human

Is coronavirus the newest threat to cybersecurity in the GCC?

The Covid-19 disease has not only become one of the most discussed subjects around the world in recent weeks, it is a topic that has seen exponential growth online too

UAE leads its pursuit of a strong astronaut core

As the UAE prepares to select its next two astronauts, it is creating a culture of scientific pursuits, guiding its vision to build a knowledge-based economy

Dubai eases movement restrictions, allows malls and offices to partially reopen

Public transport services, including Dubai Metro services, will resume from Sunday, April 26

World Bank sees record 20% slump in remittances due to virus

The US has long been the top source for outflows, with other major countries including the United Arab Emirates, Saudi Arabia, Switzerland, Germany and Russia

Hospitality group Hyatt launches fund to support financially strained staff

Initially, grants will be prioritised for colleagues who are neither working nor stand eligible for government assistance

Emirates announces new repatriation flights to eight destinations from Dubai

Only citizens of the destination countries will be allowed to board the flights

UAE retailer Majid Al Futtaim launches online marketplace through Carrefour

The platform has been successfully piloted for six months with third-party sellers and is now available on the Carrefour mobile app and website

Samsung offers UAE customers upto 35% discount during flash sale this weekend

On April 24-25, from 8-11pm, customers can visit Samsung’s online store, where several products will be available at discounted rates

New UAE low cost carrier Air Arabia Abu Dhabi gets ‘operating certificate’

The airline said it will work to finalise the launch date depending on when “market conditions improve and skies are open again”

Dubai Metro likely to resume services within a “maximum period of one week”

The metro will operate between 7am-7pm during the first phase of the planned reopening of the public transport system

Boeing sued by Kuwaiti company trying to recoup $336m

Chicago-based Boeing has struggled since the Max crashes, which were blamed on faulty flight control software, inadequate flight manuals and lax regulation

Abu Dhabi Sheikh invests $1bn in top grocer LuLu

LuLu operates shopping malls and other businesses such as hospitality and real estate, and had an annual turnover of about $7.4bn

Revealed: Dubai issues list of guidelines for reopening malls, offices

The official date for reopening businesses is expected to be “announced shortly”

Saudi Arabia could borrow record $58bn as oil slump bites

The government is looking at additional spending cuts and may issue as much as an additional SAR100bn of debt on top of SAR120bn riyals already announced

DP World

UAE’s DP World launches digital platform to move global trade online

It has also created Digital Freight Alliance, an online association that brings freight forwarders globally onto one platform

UAE’s Ministry of Climate Change and Environment expedites food import services

The move will facilitate a continued food supply in the lead to the month of Ramadan

Abu Dhabi considers reopening malls with precautionary measures in place

Shoppers will be required to wear masks and gloves and maintain social distancing

Dubai World Trade Centre

Dubai World Trade Centre announces new measures to support businesses

A full refund will be offered to exhibitors on cancelled events and where a new schedule is not feasible for the participants

DIFC Courts

Dubai’s DIFC Courts introduces video conferencing to register wills online

A testator and two witnesses can join via video conferencing from different locations

UAE telecom operator du reports 21% decrease in net income for Q1 2020

It also reported revenues of Dhs2.99bn for Q1 2020, down 4.8 per cent compared to the corresponding period in 2019

Abu Dhabi City United Arab Emirates

Abu Dhabi launches new committee to protect private sector workers’ rights

The committee will ensure the existence of valid employment contracts and that workers are receiving their salaries

Dubai’s Emirates says will resume services ‘as soon as conditions allow’

The airline is currently operating limited repatriation passenger flights to certain destinations

Saudi Arabia’s ACWA Power plans to raise up to $1bn

The company is in talks with local banks about the potential deal that would be denominated in Saudi riyals

Careem NOW grocery delivery

Careem launches grocery and medicine delivery service in Dubai

The deliveries will be fulfilled within an hour after an order has been placed via the Careem NOW app

NMC Health backer weighs strategic options, debt revamp

KBBO chairman Khalifa Bin Butti Omeir Al Muhairi stepped down as vice-chairman of embattled NMC in February amid confusion over the exact size of his stake in the hospital operator

UAE extends deadline to submit VAT returns to May 28

The move will facilitate businesses and service providers to meet their obligations without facing any difficulties

Video: Field hospitals for Covid-19 patients to open in Abu Dhabi, Dubai

The facilities are being set up in Emirates Humanitarian City, Abu Dhabi Exhibition Center and Dubai Parks and Resorts

UAE’s Property Finder goes live with real-time viewings

Live Viewings combines Property Finder’s own technology platforms with YouTube Live to introduce live streaming to the UAE real estate market