February, 2020

• 12 February

  UAE braces for most sustainable edition of Expo

  Abu Dhabi / WAM The UAE’s hosting of the Expo 2020 Dubai will embody its long-term efforts to create solutions that will help achieve environmental sustainability. The international exhibition will showcase the latest innovations, especially those related to renewable energy, water, recycling and green spaces, potentially making it the most sustainable edition in the event’s 160-year history. Expo aims to ...

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• 12 February

  Deyaar posts net profit of AED71.5mn in 2019

  

  Dubai / WAM Deyaar Development, one of Dubai’s leading property developers and real estate service providers, announced its financial results for 2019, reporting revenues of AED603.7 million for the year ended on December 31, 2019. In comparison, revenues in the same period of 2018, stood at AED643.7 million. The company also reported in a statement on Wednesday its net profit ...

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• 12 February

  Bodour Al Qasimi oversees progress of ‘House of Wisdom’

  

  SHARJAH / WAM Sheikha Bodour bint Sultan Al Qasimi, Head of the Sharjah World Book Capital, (SWBC) Advisory Committee and Vice President of International Publishers Association (IPA) has conducted a detailed inspection visit on of the ‘House of Wisdom’ library project. The project is developed by Shurooq, the Sharjah Investment and Development Authority, and slated to open in April 2020. ...

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• 12 February

  Abu Dhabi Ports, MSC Cruises sign long-term agreement

  

  ABU DHABI / WAM Abu Dhabi Ports announced a long-term agreement with MSC Cruises, giving the world’s largest privately-owned cruise line berthing rights at the Abu Dhabi Cruise Terminal and Sir Bani Yas Cruise Beach. The deal, signed by Director of Cruise Business at Abu Dhabi Ports, Noura Rashid Al Dhaheri, and MSC Cruise CEO, Gianni Onorato, at MSC’s headquarters ...

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• 12 February

  Xi vows China will meet economic goals, defeat virus

  

  Bloomberg President Xi Jinping pledged that China would meet its economic and social development goals while winning the battle against the deadly coronavirus. “We have the ability and confidence not only to defeat the epidemic, but also to accomplish the set goals and tasks for economic and social development. I believe China will be more prosperous after overcoming this epidemic,” ...

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• 12 February

  Nissan sues Ghosn in Japan, seeks $91 million in damages

  

  Bloomberg Nissan Motor Co is stepping up its pursuit of claims against former Chairman Carlos Ghosn, suing for 10 billion yen ($91 million) in damages from the former leader of the Japanese automaker and its alliance with Renault SA. The lawsuit filed in Yokohama District Court seeks to “recover a significant part of the monetary damages inflicted on the company ...

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• 12 February

  Indian tycoon Mallya fights UK extradition

  

  Bloomberg Former Indian billionaire Vijay Mallya returned to a London court to fight extradition to his home country to face fraud and money-laundering charges. The tycoon’s lawyers said at a hearing that a previous ruling to send him back to India ignored evidence and simply misunderstood the circumstances that ultimately led to the collapse of Kingfisher Airlines Ltd in 2012. ...

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• 12 February

  Coronavirus infections on Japan ship hit 174

  Bloomberg Rising infection cases on board a quarantined cruise ship in Japan — likely evidence passengers are spreading the virus to one another — is raising concerns about their safety and sparking anger among the thousands still confined. There are now 174 infections aboard Carnival Corp’s Diamond Princess, the largest infection cluster outside China. The surging numbers are fueling concerns ...

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• 12 February

  Hong Kong landlords start to slash retail rents as virus bites

  

  Bloomberg Hong Kong’s biggest landlords have begun to slash rents for their commercial tenants as retailers struggle amid the spreading coronavirus. Sun Hung Kai Properties Ltd, the city’s largest developer by market value, will reduce rents for February by 30% to as much as 50% for some of its mall tenants to help them ride out the impact from the ...

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• 12 February

  S’pore prepares budget for virus fallout

  

  Bloomberg Singapore will roll out a “strong” economic package next week as part of its national budget to mitigate the economic fallout from the coronavirus outbreak, with the impact on the trade-reliant city-state seen as worse than the 2003 Sars pandemic. The increased economic threat stems from several reasons, such as China’s economy being much bigger today as well as ...

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