News

Bloomberg Lyft Inc. withdrew its profit and revenue forecasts for 2020, following rival Uber Technologies Inc. in citing evolving and unpredictable impacts from Covid-19. The San Francisco-based ride-hailing company has seen demand fall dramatically, crushing its earlier estimates. Uber and Lyft, both of which aren’t yet profitable, told investors earlier this year they would turn a profit by the end ...

Bloomberg Netflix Inc. posted the strongest financial results in company history, adding a recorded 15.8 million paid subscribers — almost double the figure forecast by Wall Street analysts. Yet rather than gloat, the company’s executives warned investors not to get too excited. Netflix benefited in the first quarter from an unprecedented health crisis, the global coronavirus pandemic. With billions of ...

Abu Dhabi / WAM Abu Dhabi’s Hub71, the tech ecosystem powered by Mubadala, has been selected by the top US data residency hosting platform, InCountry, to be the home of its Middle East headquarters. This new development marks a strategic move to capitalise on the UAE’s growing cloud market, which Gartner predicts is set to increase by 21 percent year ...

Bloomberg The Kremlin put on a brave face as prices for Russia’s benchmark crude closed in on levels last seen in a devastating 1998 financial crisis. “The pandemonium with futures is absolutely speculative, just a trading issue,” Kremlin spokesman Dmitry Peskov told reporters on Tuesday, referring to negative prices on some US futures contracts. “There’s no need to give this ...

ABU DHABI / WAM The trade in food and beverage (F&B) in Abu Dhabi in January amounted to a total value of AED1.2 billion, according to a report by the Statistics Centre-Abu Dhabi on non-oil merchandise trade. This overall value accounted for 7.9 percent of trade in non-oil goods in 2019 totalling AED15.2 billion, as per the centre’s figures. The ...

DUBAI / WAM Careem has introduced a new on-demand service ‘Shops’ to deliver daily essentials, such as groceries, medicine and pet food, to homes across Dubai. The courier service company said customers can shop via the Careem NOW app and a driver will pick up and deliver the purchases in under an hour. In a statement on Tuesday, the company ...

Dubai / Emirates Business Emirates is stepping up precautionary measures at the airport and on board to ensure the health and safety of its employees and customers. All cabin crew, boarding agents and ground staff in direct contact with passengers will now don personal protective equipment (PPE) which includes a protective disposable gown over their uniforms, and a safety visor, ...

Abu Dhabi / Emirates Business Abu Dhabi School of Government (ADSG) and Abu Dhabi Global Market Academy (ADGMA) signed an MoU to advance talent development in Abu Dhabi. The partnership will offer new specialised programmes within financial technology and artificial intelligence that adopt global best practices. The two parties will also coordinate assessment and development centres, aligned with quality standards ...

Dubai / Emirates Business Emirates is stepping up precautionary measures at the airport and on board to ensure the health and safety of its employees and customers. All cabin crew, boarding agents and ground staff in direct contact with passengers will now don personal protective equipment (PPE) which includes a protective disposable gown over their uniforms, and a safety visor, ...

Sharjah / WAM The Sharjah-based airline, Air Arabia, announced on Monday it will operate new repatriation flight from four cities in India to Sharjah carrying UAE nationals back home. In a statement by the airline, the special flights will operate from Mumbai and Delhi to Sharjah International Airport on April 20, while special flights will operate from Cochin and Hyderabad ...