NMC Health has identified it has an additional $2.7bln of debt DUBAI: Fraud has been alleged for the first time at NMC Health, the troubled UAE-based hospitals group. In a statement to the London Stock Exchange, where NMC shares are listed, advisers to the group said that they had...

The business sector's exports grew by 5.4% ABU DHABI - The value of exports through Abu Dhabi ports increased by 7.7 pct from AED28.7 billion in Q4 2018 to AED 30.9 billion in the same period of 2019, according to figures released by the Statistics Centre - Abu Dhabi. The business...

Union Properties reveals major expansion of its Dubai Autodrome to include new race tracks for rallycross, karts and 4x4s Union Properties on Thursday announced a major $54 million expansion of its Dubai Autodrome to include new race tracks for rallycross, karts and 4x4s. The...

Major sporting event will be run behind closed doors owing to safety fears regarding the Covid-19 coronavirus Dubai World Cup, one of the world's richest days in horseracing, will be closed off to spectators when it runs at Meydan Racecourse on March 28. The gala event, which...

Ban to stay enforced for two weeks, according to DED, Dubai Municipality Dubai has intensified its precautionary measures in a bid to stem the advance of the deadly coronavirus. The Dubai Government issued a new order on Thursday, directing all food and beverage outlets to refrain...

Air Arabia dives on travel restriction Equity indexes in the United Arab Emirates (UAE) hit record lows as Gulf stocks tracked a sell-off in global shares on Thursday after the United States restricted travel and the World Health Organization (WHO) called coronavirus outbreak as a...

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Roads and Transport Authority tweets map that shows that the rapid transit system which will operate on suspended rails will operate a number of loops in the city Dubai's transport authority has unveiled a map showing the proposed routes to be covered by Sky pods, a futuristic urban...

All Saudi banks decline Stock markets in Saudi Arabia and United Arab Emirates (UAE) closed lower on Wednesday as oil prices fell after both the countries promised to raise oil output amid an oil-supply policy dispute with Russia. Saudi Arabia directed Saudi Aramco to raise its...

Slowdown can be seen as a natural move due to subdued market conditions Private sector developers lead while government-backed firms are going slow in terms of new project launches in Dubai, with increased focus on ongoing projects and delivering them on time. Year-to-date, three...