Oil demand for the year is expected to average around 100 million barrels per day
Impact of coronavirus
Latest in Impact of coronavirus
coronavirus restrictions
How HR managers are dealing with the rise of coronavirus-related isolations
Whether it’s because of close-contact isolation or getting stuck in a foreign country post-holiday break, employees are out of the office and remote working is making a comeback
Airline operations
Emirates closes A380 onboard lounges to fight virus
Dubai has rolled out one of the fastest vaccination programs in the world and it had managed to keep cases under control before the omicron strain emerged
economic recovery
Why uncertainty will continue to be the only certainty for wealth management in 2022
Arabian Business sat down with Bernard Bonvin, a senior partner of the Probus Group, to talk about how the markets have fluctuated, what to expect going into 2022, and what risks investors should be aware of
crude oil price
Oil extends gains above $70 on signs omicron concerns overdone
Futures in New York advanced above $70 after closing almost 5 percent higher on Monday
Damac Properties
Dubai-based Damac narrows losses in second quarter
Developer reported a net loss of $27.5m for the second quarter of the year, compared to $76.2m for the same period in 2020
Economic activity
Why increased taxation should not form part of UAE’s economic recovery, says senior banking figure
Sunil Kaushal, CEO of Standard Chartered Africa and Middle East (AME) said the increasing price of oil and a focus on economic growth should be enough to push the recovery forward
Bahrain economy
Bahrain to extend support for businesses impacted by Covid-19
Country’s labour fund has issued a three-month extension of its Business Continuity Support Programme that will run until August
Government of Dubai
Dubai state holding firm posts $4.2bn loss as Covid virus weighs
Investment Corp. of Dubai reveals first loss in at least eight years
Food aggregators
Talabat to double number of dark stores in UAE
Currently the aggregator has 20 dark stores in operation across six cities in five emirates, but by the end of 2021, the food aggregator Talabat will have opened stores in Umm Al Quwain and Fujairah
GCC job market
GCC companies turn to talent hubs in East Africa, Europe for hiring as travel ban from India continues
Hires from Romania and Portugal, as well as from East Africa, are on the rise for certain sectors as flights from India remain suspended while the country battles a surging pandemic
commercial real estate
Real estate 2021: From pandemic laggard to recovery leader
The GCC’s largest real estate players saw revenues and valuations drop by as much as 40 percent before re-stabilising to pre-pandemic levels
Arabian Travel Market
Debate on how tourism will look post-pandemic continues
Panellists in ATM’s Middle East Tourism Investment Summit address the short- and long-term impacts of coronavirus on leisure and business travel
budget hotels
India’s OYO Rooms hospitality chain rolls out four-day workweek, flexible leave amid pandemic surge
The initiatives aim to alleviate employees’ stress levels amid the surging pandemic the has recently beleaguered the sub-continent
high tech talents
Flight ban grounds UAE companies’ recent hires in India
The unabated Covid-19 crisis in the South Asian country has also hit major tech multinationals operating in the UAE as tech hubs in South India have been disrupted by the pandemic
Coronavirus in India
Indian travel operators in turbulence as the country sees no respite from raging Covid-19 wave
Firms in the sector – both large and small – have resorted to large scale layoffs and industry experts said they’re apprehensive they’ll have to shut shop if the situation continues beyond a couple months
GCC banking sector
Covid pandemic to have ‘long-lasting’ impact on Gulf banking sector, says S&P
Rating agency says GCC banking ops will remain constrained after setting aside $10.9bn in credit loss provisions