News

  • Oil holds near $42 while investors weigh demand against virus

    Oil held near $42 a barrel in London as investors weighed signs of rebounding demand against a resurgence in new coronavirus cases. OPEC and its allies are on track to rebalance the oil market and there are encouraging signs of recovery, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman told an OPEC+ meeting on Thursday.

    July 3, 2020 in Business News
  • New trends noted in rental market following travel ban

    New trends have emerged in the rental market due to the Covid-19 travel ban, particularly affecting those who had plans to emigrate just before the lockdown started. Fully-furnished, medium-term rentals are becoming increasingly popular and Airbnb homes are moving to the long-term rental market to avoid vacancies. Elaborating on this trend, Jenny de Necker, broker/owner

  • Final Virgin Australia bids a key test for ailing airlines

    The final bids for Virgin Australia Holdings Ltd. will show how much appetite private investors really have for an airline industry that’s been battered by the coronavirus pandemic. Private equity firms Bain Capital LP and Cyrus Capital Partners LP made final and binding offers for the airline on Monday, administrator Deloitte said in a statement.

    July 3, 2020 in Business News
  • Khalifa University patents artificial soil technology

    The artificial soil technology allows researchers to create soil that resembles that of Ukraine and Thailand Researchers at Khalifa University of Science and Technology have developed ‘artificial soil’ with the necessary ingredients and properties required to grow plans and vegetables in the agricultural sector, according to the UAE’s state-run WAM news agency. A provisional patent

    July 2, 2020 in Business News
  • Supporting manufacturers through a time of change

    Manufacturing is a key driver of job creation and national economies in general. But a component of manufacturing that is often taken for granted is supply chains – the global logistics and transport networks that get manufactured goods from factory to market. Manufacturing has been fundamentally disrupted by the Covid-19 pandemic. But as economies limp

    July 2, 2020 in Manufacturing
  • First phase of plan to regenerate one of Dubai’s oldest districts near complete

    The first phase of a major project to regenerate one of Dubai’s oldest districts is almost complete. Ithra Dubai’s Deira Enrichment Project is in its final stages of completing five districts in phase one of the development, which includes commercial office space, residential and retail spaces. The Deira Enrichment Project encompasses the Waterfront Market, Deira

    July 1, 2020 in Business News
  • L’Oréal appoints new director of Midrand plant

    L’Oréal South Africa has appointed Hlengiwe Mathenjwa as the new director of its Midrand manufacturing plant in Johannesburg, effective 1 July 2020. Hlengiwe Mathenjwa A South African, Mathenjwa takes the helm of the beauty company’s first and largest manufacturing facility in the Africa & Middle East region. L’Oréal’s Midrand plant specialises in haircare, skincare and

    July 1, 2020 in Manufacturing
  • Saudi Arabia starts $4bn Tourism Development Fund

    Saudi Arabia has started a fund with an initial capital of $4 billion to develop its tourism industry as the oil-rich kingdom seeks to diversify its economy and attract more foreign travellers. The Tourism Development Fund will launch a range of equity and debt investment vehicles and has $45bn in memorandum of understandings signed with

    July 1, 2020 in Business News
  • SAIBPP provides stepping stones for next generation of black property professionals

    Through its initiatives, such as its bursary fund and Young Professionals Forum, the South African Institute of Black Property Practitioners (SAIBPP) aims to nurture the next generation of black property leaders and professionals. The organisation also provides property education and coaching, and matches talented students to internship opportunities with corporates. SAIBPP’s Young Professionals Forum CommitteeTop

  • Saudi Arabia to impose new import-export measures from July

    Kingdom is unhappy with certain countries who they claim are not following international agreements Saudi Arabia is to hit back at countries that are placing restrictions on its exports, with import measures of its own, starting from July 1. A statement from the General Authority for Foreign Trade said that a number of countries continue

    June 30, 2020 in Business News
  • The African Continental Free Trade Area

    The Agreement Establishing the African Continental Free Trade Area (AfCFTA) was brokered by the African Union (AU) and adopted by 44 of its 55 member states on 21 March 2018. By February 2019, all AU countries, save for Eritrea, had become signatories to the AfCFTA, which came into force on 30 May 2019. The AfCFTA

    June 30, 2020 in Investments
  • Diageo to open its first carbon-neutral distillery

    Multinational drinks maker Diageo is building its first carbon-neutral distillery in Lebanon, Kentucky in the United States. The $130m distillery, which will produce Bulleit bourbon, is currently under construction and is expected to be fully operational in 2021. It will be one of largest carbon-neutral distilleries in North America. Reinforcing the beer and spirits producer’s

    June 30, 2020 in Manufacturing
  • Delivering sustainable energy across Africa

    The coronavirus (Covid-19) pandemic has disrupted the operating environment for both the public and private sectors as a result of the unprecedented lockdowns and restrictions put in place by countries to curb infections. To navigate this wave of disruption and thrive in its aftermath, business as usual needs to become business unusual to enable organisations

    June 30, 2020 in Energy
  • How an unexpected passion for property altered Chelsea Brown’s career path

    Chelsea Brown is a student representative at the South African Institute of Valuers (SAIV) Northern Branch executive. A University of Johannesburg alumna, Brown has found her passion in property, especially after recognising the many opportunities the field holds for SA’s youth. Chelsea Brown, student representative, South African Institute of Valuers (SAIV) Northern Branch executive Closing

  • Emirates REIT asks for identity of traders on suspicious trades

    In May, Emirates REIT said it found evidence of irregular trading activity by certain market participants Emirates REIT has filed an application in the Dubai International Financial Centre Courts to find out the identify of those behind “suspicious trades” in its shares. “Emirates REIT yesterday submitted an application in the DIFC Courts seeking an order

    June 30, 2020 in Business News
  • Clarity on distribution of unlisted shares

    The South African Revenue Service (Sars) recently released Binding General Ruling 54 (BGR 54), which deals with the unbundling of unlisted shares and the impact on non-qualifying shareholders. In particular, section 46 of the Income Tax Act (ITA), which colloquially refers to this unbundling of shares as an “unbundling transaction”, enables a company (the unbundling

    June 29, 2020 in Investments
  • Louvre Abu Dhabi to re-open June 24

    The number of visitors per hour to the iconic museum will be limited to allow for social distancing The iconic Louvre Abu Dhabi is to reopen its doors on Wednesday (June 24). Manuel Rabaté, director of the museum, assured that appropriate health and safety measures have been put in place – including thermal scanning, new

    June 29, 2020 in Business News
  • Structural reforms must be fast-tracked to increase transformation

    The South African Institute of Black Property Practitioners (SAIBPP) notes with concern the recent Supplementary Budget presented by the minister of finance, Tito Mboweni. Tholo Makhaola, president of the South African Institute of Black Property Practitioners (SAIBPP) The minister acknowledges in his speech that the South African economy is expected to experience “the largest contraction

  • Saudi Arabia to lift curfew, resume all commercial activities

    Mosques in Makkah will open from today but international travel and the Muslim pilgrimage known as Umrah will continue to be banned Saudi Arabia will resume all commercial activities and lift restrictions on movement even as coronavirus cases show no signs of easing. The curfew will be lifted across the nation from 6am on Sunday

    June 28, 2020 in Business News
  • UAE shoppers opting for contactless payments over cash purchases

    UAE shoppers are ditching the cash in favour of contactless payments through the Covid-19 crisis, according to the results of a survey from Dubai Police, Dubai Economy and Visa. Sixty-eight percent of respondents surveyed in the UAE have reduced shopping in-store since the outbreak of the pandemic and 49 percent are shopping online more.  When

    June 28, 2020 in Business News
  • Mubadala eyeing more tech investments after Jio Platforms stake

    Abu Dhabi fund looking at India, China and Southeast Asia for possible investments, says CEO Khaldoon Al Mubarak Mubadala Investment Co. is planning more exposure to technology after the Abu Dhabi fund took a $1.2 billion stake in India’s Reliance Industries Ltd.’s Jio Platforms. Technology, in particular med-tech, venture and the broad technology sphere, is

    June 27, 2020 in Business News
  • Extradition hearing of former Abraaj CEO to start in London

    A four-day extradition hearing is set to get underway in London on Monday involving the founder and former chief executive of Abraaj Group, Arif Naqvi. The former Dubai-based businessman is battling against US authorities, who want him to stand trial in America on charges of fraud and money laundering. Naqvi is one of six former

    June 26, 2020 in Business News
  • Why UAE estate agents and developers need to bridge the technology gap

    Technology has undoubtedly paved the way to make our personal lives more comfortable while enabling cost savings and greater efficiency from a business perspective. Healthcare, manufacturing, finance, education, and retail are just a few of the industries that have been positively impacted as a result of technologies such as blockchain, big data, virtual reality (VR),

    June 26, 2020 in Business News
  • Silver linings for homeowners as economic revival takes centre stage

    Finance minister Tito Mboweni’s supplementary budget speech on Wednesday was met with trepidation by many South Africans. The combined effects of the coronavirus pandemic and global economic downturn are expected to see our economy contract by 7.2% in 2020 and gross national debt rise to a predicted 81.8% of GDP by the end of this

  • Khalifa Hasan Ali Saleh Al Hammadi appointed chair of Union Properties

    Khalifa Hasan Ali Saleh Al Hammadi has been appointed chairman of Dubai-based developer Union Properties. Al Hammadi, who was appointed as vice chairman and chief executive officer of the Dubai Motor City developer in December last year, was elected chairman at the company’s board of directors meeting this week. He is also chairman of Gulfa

    June 25, 2020 in Business News
  • Local manufacturing incubator to produce Dis-Chem uniforms

    In a move to support local manufacturing and small enterprises, Dis-Chem Pharmacies has partnered with corporate clothing group Worksgroup to outsource the production of its staff uniforms via a small manufacturing incubator in Kwa-Zulu Natal. Worksgroup has established incubator groups at its Durban manufacturing plant which sees small pods manufacturing goods for Worksgroup’s customers. Dis-Chem

    June 25, 2020 in Manufacturing
  • Prioritisation of infrastructure development, public-private partnerships key

    Against the backdrop of ongoing measures to address the Covid-19 pandemic in South Africa, the Supplementary Budget 2020 highlighted several key aspects. Dr Andrew Golding, chief executive of the Pam Golding Property group Apart from the health and safety aspects so crucial to reducing the impact of this humanitarian crisis, the prioritisation of infrastructure development,

  • Dubai Tourism’s charm offensive to lure visitors back to emirate

    Dubai’s tourism authority is ramping up its activities ahead of the return of visitors to the emirate next month. The Department of Tourism and Commerce Marketing (Dubai Tourism) has previously launched #Till We Meet Again and the recently launched #We Will See You Soon campaign, providing up-to-date information on the situation in Dubai. Helal Saeed Almarri, director general, Dubai

    June 25, 2020 in Business News
  • Furniture manufacturers urged to explore available funding schemes

    While the South African furniture manufacturing sector has endured some tough times in recent years, there are still significant financial incentives for high-quality projects. This is the view of two funding specialists who recently addressed furniture manufacturing entrepreneurs and industry stakeholders in a business webinar. Getty “Pre Covid-19, the sector was identified as one that

    June 24, 2020 in Manufacturing
  • The death of a shareholder: what happens next?

    A shareholder can be defined as a person, whether natural or juristic, who owns shares or stock in a company. A person can be a sole proprietor or owner of 100% of the shares, or a part shareholder where for example they own 30% of the shares. But what happens when a shareholder dies? Our

    June 24, 2020 in Investments
  • Emirates ready to help relaunch Dubai’s tourism industry

    The chairman of Emirates Airline and Group, Sheikh Ahmed bin Saeed Al Maktoum, is confident the Dubai-based carrier is ready to play its part in welcoming tourists back to the city from next month. It was announced on Sunday that tourists will be allowed to visit the emirate from July 7 following months of movement

    June 24, 2020 in Business News
  • Industrial real estate is in high demand, here’s why

    Following the implementation of Level 3 lockdown, one particular property sector is making waves and has seen a noticeable spike in activity, and that’s industrial real estate, according to Clint Marais, regional head of Galetti Corporate Real Estate Western Cape. Clint Marais, regional head of Galetti Corporate Real Estate Western Cape “This uptake can be

    June 24, 2020 in Manufacturing
  • 5 truths about digital twins and predictive simulation

    With the economy open for business – albeit under constrained operating regulations – manufacturers are faced with a new set of challenges, including how to predict market demand, achieve optimum productivity, and manage workforces in ways that allow for social distancing and other safety measures. Digital twinning and predictive simulation are technology tools that allow

    June 24, 2020 in Manufacturing
  • Coronavirus: Kuwait announces 641 new cases, four new deaths

    Kuwait reported 641 new cases of coronavirus on Monday, taking the total number of infections confirmed since the onset of the pandemic to 40,291. Official spokesperson for the Kuwaiti Ministry of Health, Dr. Abdullah Al-Sanad, revealed that the virus had claimed the lives of four more people over the past 24 hours, with the death

    June 23, 2020 in Business News
  • Mondelez International announces senior appointments in sub-Saharan Africa

    American multinational confectionery, food, holding and beverage company Mondelez International has announced the appointment of long-term employee Nigel Parsons as the president of sub-Saharan Africa (SSA) operations, and Alisdair Sinclair as managing director, South Africa, effective 1 June 2020. Nigel Parsons Parsons joins Mondelēz SSA in a newly created leadership role that will strengthen focus

    June 23, 2020 in Manufacturing
  • Reserve Bank to the rescue

    The full effects and consequences of the lockdown will only be revealed in time, but safe to say the cost to the economy has been extreme and came at a time when the country could least afford it. Strong leadership and a concerted effort from government, labour and business will be required to lift the

    June 23, 2020 in Investments
  • Timothy Sykes review – Here’s what you should know about the millionaire trader teaching people how to trade stocks

    If you’ve ever tried to search online for information on how to trade penny stocks profitably, you’ll most likely have come across Timothy Sykes. The story of how he turned his $12,415 Bar Mitzvah gift money into a trading portfolio worth more than $1.65 million before graduating college has been told and retold several times

    June 23, 2020 in Investments
  • How well are default regulation strategies holding up in the new normal?

    The fallout from Covid-19 is disrupting most sectors and the retirement fund industry is no exception. While the default regulations were implemented to improve South Africans’ dismal retirement outcomes, trustees need to re-evaluate default strategies in a pandemic battered landscape. Poobalan Govender The default regulations impact on three important areas of saving for retirement, in

    June 23, 2020 in Investments
  • House prices falling despite increased demand

    According to Multinet Home Loans, the bond originator has seen an unprecedented increase in home loan submissions since the Level 5 lockdown in April. Multinet Home Loans has seen a 36.57% increase in submissions vs 2019 numbers in June, whilst home prices have shown a real decline of 12% in June so far, taking predicted

  • Etihad partners with Austrian health tech company to launch Covid-19 assessment tool

    Powered by Medicus AI’s technology and based on a set of 22 questions, the assessment takes less than five minutes to complete Abu Dhabi-based Etihad Airways has partnered with Austrian healthcare technology company Medicus AI to launch a Covid-19 risk assessment tool aimed at making passengers feel safer about returning to the skies. Powered by

    June 23, 2020 in Business News
  • Sharjah to reopen cinemas, entertainment centres and fitness facilities

    Some services will continue to be halted, including massage, sauna and distribution of newspapers and magazines Sharjah’s Economic Development Department (SEDD) announced that cinemas, auction houses, entertainment centres, valet services and fitness facilities in the emirate can re-open with 50% capacity, provided they follow the necessary safety guidelines. The guidelines include taking temperature checks, providing

    June 22, 2020 in Business News
  • Like economy, housing market recovery dependent on confidence, investment rebound

    Indicating the severity of the current economic contraction experienced as a result of the Covid-19 lockdown, finance minister Tito Mboweni is expected to deliver an Emergency Budget on 24 June – just four months after the National Budget speech in February. To put this in some perspective, no such measure was required during the severe

  • Steel producer fined R3.6m for contravening sections of Air Quality Act

    The Department of Environment, Forestry and Fisheries has welcomed a R3.6m fine handed to a major steel-producing company after it admitted to contravening sections of the Air Quality Act by exceeding the minimum hydrogen sulphide emissions standards. The judgment, said the department in a statement on Thursday, 18 June, sends a strong signal that the

    June 18, 2020 in Manufacturing
  • SA property prospects as we look beyond Covid-19 lockdowns

    The Covid-19 crisis has changed the world a lot, perhaps less through introducing new trends and more through speeding up old trends. South Africa already had a recession and a mildly correcting property market prior to 2020. Covid-19 merely made this recession deeper. Remote work and online shopping were emerging global themes prior to Covid-19

  • New recovery textbook needed for post-Covid real estate landscape

    Clawing back from the devastating global cascade of the sub-prime collapse of 2008/09, the real estate market had a tried and tested economic textbook roadmap and traditional real estate models to successfully guide the process. However, as the modern business world has never had to contend with a global pandemic, the real estate industry, still

  • Covid-19 is threatening hotel development growth in Africa

    As an important industry in Africa, tourism has created both direct and indirect jobs – sustaining foreign currency earnings. According to the 12th annual survey by W Hospitality Group, African hotel development had returned to growth at the start of 2020, with more than 78,000 rooms in 408 hotels in the pipeline; however, with the

  • Saudi construction giant Binladin slashes jobs and pay to cut costs in half

    Saudi Binladin Group cut jobs and reduced staff salaries as Saudi Arabia’s biggest construction firm navigates the fallout of the coronavirus pandemic. The Jeddah-based conglomerate put thousands of employees on indefinite, unpaid leave as it weighs options to lower costs by as much as 50%, according to people with knowledge of the matter. The group

    June 16, 2020 in Business News
  • Abu Dhabi teacher dies from coronavirus

    Anil Kumar was a Hindi teacher at Sunrise School in the Musaffah area of the capital A teacher in Abu Dhabi has died from coronavirus. Anil Kumar, a 50-year-old Hindi teacher at Sunrise School in the Musaffah area of the capital, had been suffering from Covid-19 for the past two weeks and was admitted to

    June 15, 2020 in Business News
  • CEO Luc-Olivier Marquet on Unilever’s response to Covid-19

    Unilever South Africa is one of the country’s largest producers and suppliers of hygiene, personal care and food products. Many of its brands – including Lifebuoy, Domestos and Handy Andy – form part of South Africans’ everyday defence against the coronavirus. Luc-Olivier Marquet, Unilever South Africa CEO Unilever SA CEO Luc-Olivier Marquet told Bizcommunity that

    June 15, 2020 in Manufacturing
  • #ACACaresCovid19: The economics of advertising – ACA invests in futures

    As it has in just about every other area, the coronavirus is instigating opportunities for fast-tracked and often overdue change within the advertising, marketing and media sector. As an endorsed protector and elevator of industry interests and policies, since 2002, the ACA is spearheading and making possible Bizcommunity’s weekly series, acknowledging South Africa’s creative marketing

    June 15, 2020 in Manufacturing
  • #ACACaresCovid19: The economics of advertising – ACA invests in futures

    As it has in just about every other area, the coronavirus is instigating opportunities for fast-tracked and often overdue change within the advertising, marketing and media sector. As an endorsed protector and elevator of industry interests and policies, since 2002, the ACA is spearheading and making possible Bizcommunity’s weekly series, acknowledging South Africa’s creative marketing

    June 15, 2020 in Manufacturing
  • Bahrain mulls oil, gas transfer following Saudi Aramco IPO success

    Bahrain may transfer some of its oil and natural gas assets into a proposed state-run fund in which it could sell shares to investors, as the smallest Gulf Arab country seeks to balance its budget. The government is working on the project and may decide to proceed with it later this year, Oil Minister Mohammed

    June 15, 2020 in Business News
  • Dubai’s dreamcatchers hoping to spark a global movement

    OHM Live, one of the biggest television productions ever put together in Dubai, takes place on May 29. The 24-hour celebrity fundraiser features stars such as Jason Derulo, CeeLo Green, Dua Lipa, Deepak Chopra and Sonam Kapoor Ahuja, and across the broadcast they will be seeking to raise funds for COVID19 relief efforts around the

    June 14, 2020 in Business News
  • Kuwait imposes mandatory wearing of masks in public

    Residents in Kuwait who don’t wear a face mask in public risk a jail sentence or a fine of thousands of dollars. The country’s health ministry has revealed those who fail to adhere to the strict guidelines could be looking at up to three months in prison or be hit with fines of up to

    June 13, 2020 in Business News
  • Arabian Business launches paywall – Arabianbusiness

    Arabian Business is announcing the launch of a paywall, with an initial two months free trial for readers who sign up in the next four weeks. The paywall will come into effect on June 26 next, after which users will be allowed to read 5 articles a month for free. After the monthly quota is

    June 13, 2020 in Business News
  • Covid-19: UAE announces 822 new cases

    UAE health authorities have detected 822 new cases of Covid-19 in the country, the country’s Ministry of Health and Prevention (MoHAP) announced on Monday. The new cases bring the UAE’s total to 30,307. Additionally, three more fatalities were reported, bringing the UAE’s death toll to 248. The new detections came as after country conducted 41,202

    June 12, 2020 in Business News
  • Saudi Arabia to ease Covid-19 restrictions from May 28

    Saudi Arabia will begin easing lockdown measures as it moves to the next phase of its fight against the Covid-19 pandemic in the kingdom, officials said on Monday. According to Dr. Tawfiq Al Rabiah said that, going forward, Saudi Arabia will expand mass testing to detect cases early, as well as expand hospitality capacity for

    June 11, 2020 in Business News
  • How to invest in things you believe in

    The Covid-19 induced short-term return to single-use plastic is just a blip, according to our sustainability experts, what the world needs is to urgently ramp up disclosure, ambition and action. Ebeth van Heerden So, as part of my effort to live more sustainably, I’ve been looking into the various sustainable investing strategies out there. Believe

    June 11, 2020 in Investments
  • Kuwait sees slight drop in Covid-19 cases

    Kuwait has seen a slight drop in Covid-19 cases in the past 24 hours.  The Gulf country confirmed a lower number of new Covid-19 cases at 665 today compared to yesterday’s 838 number. This takes the overall number of cases in the country to 21,967. The Kuwaiti Ministry of Health also announced nine more deaths

    June 11, 2020 in Business News
  • ATM to focus on Chinese outbound travel market

    The upcoming Arabian Travel Market (ATM) Virtual event will see Middle East travel professionals looking at how and when to start planning for inbound Chinese visitors. The event taking place from 1-3 June 2020 will feature the Virtual China Tourism Forum about the potential of the Chinese outbound leisure market following the country’s easing of

    June 10, 2020 in Business News
  • Covid-19 will not define the property market’s future

    Broll hosted its inaugural webinar late last month themed Africa 2020: A new vision. The discussion focused on strategies and solutions that can be employed during the recovery phase of the Covid-19 crisis, and the emerging new business environment in Africa. A common thread in the conversation was that Covid-19 will not define the property

  • Business unusual for property developers during Level 3 lockdown

    Historically, property has been an asset class that has managed to withstand fluctuating market forces, being a far more resilient investment type than most – and less volatile than the stock market. So how will the property sector withstand the Covid-19 pandemic, with most parts of the world not yet over the infection peak? Image

  • Fitness platform Les Mills sees 700% uptick in MidEast users since Covid-19

    Fitness giant Les Mills International has seen a 700% uptick in subscribers to its on demand digital platform in the Middle East and 800% globally since the beginning of the Covid-19 pandemic, according to Glen Stollery, CEO of Les Mills International in the Middle East, India and Africa. The New Zealand-based company is best known

    June 10, 2020 in Business News
  • General Electric’s exit from lighting business is a warning to other players in the sector

    GE ad from the 1940s, showing an incandescent bulb and a fluorescent tube, both inventions of the company. GE While a licensing agreement means that consumers will continue to see GE-branded light bulbs in stores, the sale marks the end of an era for this quintessential giant of the illumination industry. GE traces its roots

    June 9, 2020 in Manufacturing
  • Planning is more important than prediction for Africa’s property sector now

    An understandable response to the economic fallout of Covid-19 is for governments, industries and businesses trying to predict the path that the global economy will take in the coming months and years. However, given that this is a challenging exercise at best, it’s probably a better investment of valuable time and effort to ponder the

  • Bidvest Mobility expands its range of intrinsically safe mobile computers for hazardous applications

    The range of intrinsically safe mobile computers and accessories include the global Ecom and Honeywell brands, with many of the products complying to safety standards, such as ATEX Zone 2/22 and Div. 2, as well as Zone 1/21 and Div.1. According to Luke Dunstan, Executive Head of Sales at Bidvest Mobility, intrinsically safe mobile devices

    June 9, 2020 in Manufacturing
  • Galleria Mall to waive rent for tenants in Q2 amid Covid-19

    Retailers continue to operate at 30% capacity in line with safety measures to curb the spread of coronavirus Abu Dhabi’s Galleria Mall is waiving rent for tenants in Q2 from April to June to help retailers survive economic challenges caused by the coronavirus pandemic, such as weeks of shut downs in March and April, and

    June 9, 2020 in Business News
  • Omni receives accreditation to deliver training and assessment through flexible online solutions with the W & R SETA

    A feat for Omni HR Consulting, operating as an accredited private college within the framework of the Department of Education and Sector Education Training Authority landscape since 2009. Traditional learning methods, such as face-to-face classroom delivery, paper-based assessment and moderation practices has been the order of the day. Omni has been progressively working and collaborating

    June 9, 2020 in Manufacturing
  • Kuwaiti ship held off Australia amid Covid-19 concerns

    Six crew members on board the Al Kuwait have reportedly tested positive for Covid-19 A Kuwaiti livestock ship has been held off Australia’s coast after a number of crew members tested positive for Covid-19, according to media reports. According to Reuters, the Al Kuwait departed the Middle East on May 7 and docked near Perth

    June 8, 2020 in Business News
  • New vision for real estate in which all can win

    The real estate industry will no doubt look very different by the end of this year to the way it looked before the Covid-19 pandemic – but in many cases, the changes made will be extremely positive for estate agents and principals as well as their clients because of the potential for both better service

  • Investing for Roubini’s Greater Depression

    In September 2006, economics professor Nouriel Roubini warned an incredulous audience of fellow economists at the International Monetary Fund (IMF) that the US housing market was at risk of collapsing – an event that could ruin the global financial system. This was at a time when the global economy had recorded its fastest patch of

    June 8, 2020 in Investments
  • Revealed: businesses that can operate as Dubai eases Covid-19 restrictions

    Businesses that begin operating again as Dubai begins easing restrictions will have to follow strict guidelines to prevent the spread of Covid-19, authorities that have announced. On Wednesday, a number of businesses will begin to reopen, including gyms, cinemas, and outsourced government centres. Additionally, the airport will be open for UAE residents and transit passengers

    June 8, 2020 in Business News
  • Covid-19: Dubai gyms to operate at 50% capacity, masks mandatory

    Gyms will only be able to operate at 50 percent capacity, with exercise participants wearing masks and strict social distancing guidelines in place, the Dubai Sports Council has announced. From Wednesday, gyms and sports facilities will be allowed to operate as part of a wider easing of restrictions put in place to combat the spread

    June 7, 2020 in Business News
  • UAE completes first phase of wildlife conservation red list

    UAE National Red List indicates that the UAE is home to 78 species of mammals, of those 59 are terrestrial and 19 marine The UAE’s Ministry of Climate Change and Environment has announced the completion of phase one of the UAE National Red List project. Once completed, the list will provide updated information on the

    June 6, 2020 in Business News
  • UAE announces 779 new Covid-19 cases, 5 deaths

    UAE health authorities have detected 779 new cases of Covid-19 after conducting over 28,000 tests, the Ministry of Health and Prevention (MoHAP) has announced. According to the MoHAP, the UAE’s total number of confirmed cases is now 31,806. Five additional fatalities were also reported. The UAE’s Covid-19 death toll now stands at 253. Additionally, 325

    June 6, 2020 in Business News
  • GEMS Education threatens to deactivate e-learning over non-payment of fees

    Dubai-based operator has also warned it won’t provide transfer certificate or final report card and students may have to repeat the year Dubai schooling giant GEMS Education is threatening to pull the plug on online learning for any students whose term three fees have not been paid. Parents from GEMS Metropole, in Motor City, have

    June 5, 2020 in Business News
  • How West Africa can expand power supply and meet climate goals

    The demand of power in West Africa is rising. Sebastian Sterl The challenge in creating flexible, reliable and affordable energy supply systems with renewables lies in the very different circumstances across countries and regions. Planning and expanding renewable power must consider countries’ local resources and their existing and planned infrastructure. This becomes even more interesting

    June 5, 2020 in Energy
  • Overview of SA Shares

    SA Shares was established in 2005 in order to provide extensive insights and investment advice regarding high ranking JSE-listed companies and has since expanded into a number of relevant and lucrative investment options, including Forex and crypto currencies. The company operates as an independent South African brokerage and news platform and is successfully run by

    June 5, 2020 in Investments
  • Dubai details guidelines for malls, cinemas and offices as Covid-19 restrictions ease

    Dubai malls can now operate at 70 percent of the capacity of their common and gross leasable areas as part of the emirate’s easing of Covid-19 restrictions, according to a circular from Dubai Economy. As per the new rules, retail and wholesale traders can also now increase their staffing to 70 percent, up from the

    June 5, 2020 in Business News
  • Covid-19: Kuwait to end strict curfew

    More details on Kuwait’s plans to return to normal life will be released on Thursday Kuwait’s government will not extend its full curfew after Saturday, May 30 as it looks towards reopening the economy and returning to normal life, Deputy Prime Minister Anas Al-Saleh said on Monday. In an online news conference, Al Saleh –

    June 4, 2020 in Business News
  • Kuwait: 608 new Covid-19 cases, 7 deaths

    Kuwaiti authorities have announced 608 new confirmed cases of Covid-19 in the country, according to the state-run Kuwait News Agency (KUNA). Kuwait’s total number of coronavirus cases now stands at 22,575. Additionally, seven more fatalities were reported. Kuwait’s Covid-19 death toll now stands at 172. On Monday, Kuwaiti Deputy Prime Minister Anas Al-Saleh announced that

    June 3, 2020 in Business News
  • EquityMaven understands the true value of your business

    Sean Rule Whether it’s someone selling or buying a business, raising capital or planning an inheritance, it became clear to me that there was an urgent need for more affordable and rapid valuations. This has become even more relevant with the onset of the coronavirus pandemic when many SMEs are going through significant changes and

    June 3, 2020 in Investments
  • UAE’s FTA postpones ban on e-cigarettes, waterpipes without digital tax stamp until 2021

    The UAE’s Federal Tax Authority will postpone a ban on the supply, transfer, storing and possession of water pipe tobacco and e-cigarettes that don’t have digital tax stamps until January 1, 2021, it was announced on Tuesday. The ban had been previously scheduled to come into effect on June 1, 2020. The scheme is aimed

    June 3, 2020 in Business News
  • Oman residents arrested, fined for flouting Covid-19 restrictions

    Oman has arrested and fined a number of people throughout the country for flouting restrictions put in place to combat the Covid-19 pandemic, according to local media reports. On Monday, the Times of Oman reported that seven Omani nationals were taken into custody by police in South Al Sharqiyah Governorate. “South Al Sharqiyah Governorate Police

    June 2, 2020 in Business News
  • South Africa must get ready for an inevitable loosening of trade ties with the US

    In six months’ time the world’s gaze will be trained on what is gearing up to be a contentious and hotly contested presidential election in the US. Irrespective of who emerges victorious between the incumbent President Donald Trump and the Democratic nominee Joe Biden South Africa needs to start thinking about what it stands to

    June 2, 2020 in Investments
  • South Africa: Some hope for REITs

    It is well appreciated that the economy as whole has been hard hit by the lockdown measures introduced to mitigate the spread of Covid-19. Real Estate Investment Trusts (REITs) have not been immune to this and many are facing a significant uphill battle when it comes to maintaining cash flows as a result of the

    June 1, 2020 in Investments
  • Dave Govender takes helm as CEO of Bravo Group

    Dave Govender has been appointed CEO of Bravo Group, Africa’s largest manufacturer of furniture brands such as Sealy, Edblo, Gommagomma, Grafton Everest and La-Z-Boy. The appointment is effective from 1 June 2020. Dave Govender Greg Boulle, Bravo’s CEO since 2014, will remain with the company until his retirement at the end of February 2021. Govender

    June 1, 2020 in Manufacturing
  • Your own ‘Sofa Bank’

    Who would say no to extra money? No one! Moreover, money is never superfluous and is never a burden. Unfortunately, bills don’t fall from the sky. And it would be nice if, with enviable regularity, say, once a day, a bundle of money would fall on you. Imagine with what envy the neighbors will look

    June 1, 2020 in Investments
  • Saudi Arabia’s Geidea launches beta tests of new digital payment products

    Saudi fintech firm Geidea has launched beta testing of new a number of digital payment processing and store management products, the company has announced. In a statement, the company said that merchants will be able to co-create product features alongside Geidea based on their particular needs, as well as give feedback and suggest changes. The

    June 1, 2020 in Business News
  • Sons of murdered Saudi journalist Khashoggi say ‘forgive’ killers

    The sons of murdered Saudi journalist Jamal Khashoggi said Friday they “forgive” the killers of their father, an announcement analysts said effectively grants clemency to five convicted people on death row. Khashoggi – a royal family insider turned critic – was killed and dismembered at the kingdom’s consulate in Istanbul in October 2018, described as

    May 31, 2020 in Business News
  • Mpact expands face shield range – adults, kids, hardhat shields and respiratory masks

    The safety of our communities is a top priority for us at Mpact. We have further expanded our face shield range and will be launching a respiratory mask during the course of June; ready for the re-opening of the many industries under lock down level three. This innovative business approach puts us at the forefront

    May 29, 2020 in Manufacturing
  • Post-lockdown commercial property trends – early indications

    In the last week or so, my team has noticed a number of early trends emerging in the commercial property market as more and more companies prepare to get out of their lockdown state and start preparing to get back to work. Image source: Gallo/Getty The office market: Clients expressed a definite need to downscale

  • a long recovery, but opportunities for some

    Having worked in the commercial property sector for many years, let me state a truth universally acknowledged, but often overlooked: we will come through this, and the sector will recover from the significant knocks its faced recently as a result of the Covid-19 pandemic. Image source: Gallo/Getty Historically, and despite the odds, property is an

  • Surviving Covid-19 – Can I use my commercial property to unlock value?

    In good times, many businesses choose to own their own property and rent to themselves. In this way, being an owner-occupier is often a sound strategy as you pay your own mortgage and build up an income-generating asset. You are secure in the fact that the property is your own and thus have security of

  • Emergency measures and investor-state arbitration claims

    The unprecedented nature of the Covid-19 pandemic has re-kindled debates around the appropriateness of investor-state dispute settlement (ISDS) provisions in bi- and multi-lateral investment treaties. The global Covid-19 pandemic has forced governments the world over to take extraordinary and necessary measures to bolster public health responses in an effort to protect their citizens. Indeed, the

    May 27, 2020 in Investments
  • Ethics in a time of crisis

    As part of Saica’s Leadership in a Time of Crisis webinar series, Professor Deon Rossouw, CEO of The Ethics Institute, spoke about the importance of sticking to your values during a crisis. Professor Deon Rossouw If there’s any situation that’s going to show your true colours, it’s a crisis. At Saica we are passionate about

    May 26, 2020 in Investments
  • The synthesis of the most complex technologies gives us a simple solution, with world-scale potential

    While the whole world is shaking from negative news, ranging from the pandemic of the coronavirus Covid-19, to numerous disasters in different areas all around the world, to the stock market crashes and the global crisis in general, a silver lining has emerged among the clouds in sunny Panama, and it will probably affect everyone.

    May 26, 2020 in Investments
  • Why Ford, Chanel and other companies pitch in during a crisis

    But, judging by how many non-medical companies have voluntarily stepped up to shift their manufacturing might to produce healthcare supplies – including GM rival Ford – it seems hardly necessary. Fashion brands such as LVMH, Chanel and L’Oreal are transforming their factories to mass produce face masks. Spirit and beer makers Anheuser-Busch, Diageo, Molson Coors

    May 26, 2020 in Manufacturing
  • How to invest R3m into offshore property

    For those of you wondering “How should I invest R3m in overseas property?”. This article, sponsored by One Touch Investment, will set out the steps of how to invest R3m in property. Do not fret if your budget won’t stretch to R3 million… some sage investment options are provided for those with lower amounts of

  • With every challenge, therein lies an opportunity

    As part of our #LockdownLessons series, Bizcommunity is reaching out to South Africa’s top industry players to share their experience of the current Covid-19 crisis, how their organisations are navigating these unusual times, where the challenges and opportunities lie, and their industry outlook for the near future. We chatted to Lerato Pooe, general manager of

  • Another cut in the repo rate

    The Monetary Policy Committee (MPC) once again voted in favour of lowering the repo rate this month by 50bp to 3.75%. The policy rate has lowered by 2.75% this year, with a cut every month apart from February, taking interest rates to levels last seen in the early ’70s. “Rates have been lowered aggressively, both

    May 22, 2020 in Investments
  • PAMSA bursary, research programme application extended

    The Paper Manufacturers Association of South Africa (PAMSA) has extended the application deadline for its Masters of Engineering (M.Eng.) bursary and research programme until 22 June. The programme offers eligible BSc chemical engineering final-year students or graduates the opportunity to further their studies at participating universities by way of an R260,000 bursary over two years.

    May 22, 2020 in Manufacturing
  • Planning amid the crisis is vital

    The coronavirus pandemic has had a tremendous impact on business, and as a result, it has created significant uncertainty about what lies ahead. This unknown is crippling business leaders from making decisions or taking strategic action. However, taking action and planning now, in the midst of the crisis, is vital for survival. “Businesses need to

    May 21, 2020 in Investments
  • Mauritius on EU high risk list

    News that Mauritius was added to the EU list of high-risk third countries on 7 May 2020 has understandably caused much consternation amongst fund managers who have fund structures and investment holding vehicles domiciled in Mauritius. While this is certainly a cause of concern, the following should be borne in mind: This is not new.

    May 20, 2020 in Investments
  • Continued support needed from government, corporates, ordinary citizens

    As part of our #LockdownLessons series, Bizcommunity is reaching out to South Africa’s top industry players to share their experience of the current Covid-19 crisis, how their organisations are navigating these unusual times, where the challenges and opportunities lie, and their industry outlook for the near future. Njombo Lekula, MD at PPC We chatted to

    May 19, 2020 in Manufacturing
  • Tertius Carstens named CEO for PepsiCo sub-Saharan Africa

    Tertius Carstens, the current CEO of Pioneer Foods, has been appointed CEO of PepsiCo sub-Saharan Africa (SSA) with immediate effect. Tertius Carstens The appointment follows the $1.7bn acquisition of Pioneer Foods in March 2020. The sub-Saharan Africa headquarters will be based in South Africa, which the company plans to leverage to expand and drive profitable

    May 19, 2020 in Manufacturing
  • Investing during Covid-19 – SAICA

    At SAICA’s Leadership in a time of crisis webinar series, Investec’s Chief Investment Strategist, Chris Holdsworth, shared insight on how the pandemic is shaping investment strategies. As if there isn’t enough to worry about during the coronavirus pandemic, many people have seen their investments tank over the past few weeks. Chris Holdsworth, Chief Investment Strategist

    May 18, 2020 in Investments
  • South Africa is a legal tax haven

    South Africa is currently enjoying the status of a tax haven – a bold statement, I admit, and one that some might think outrageous, but if you break down the monetary calculations of a Section 12J investment, you will realise the glaring opportunity too. Zane de Decker, MD of Flyt Property Investment I’m still quite

    May 18, 2020 in Investments
  • Namibia’s plans for greater energy security

    To improve its energy security, Namibia is planning to grow its upstream industry by reviewing its policies in a bid to court private sector investors. Namibia is heavily reliant at present on electricity imports from the Southern African Power Pool (SAPP), which is increasingly under pressure from growing demand in the region. Tom Alweendo, Namibia’s

    May 18, 2020 in Energy
  • Opportunity to press the reset button

    As part of our #LockdownLessons series, Bizcommunity is reaching out to South Africa’s top industry players to share their experience of the current Covid-19 crisis, how their organisations are navigating these unusual times, where the challenges and opportunities lie, and their industry outlook for the near future. We chatted to Morag Evans, CEO at Databuild,

    May 18, 2020 in Manufacturing
  • Proudly SA expands portal to include locally-made sanitisers and detergents

    Proudly South African has extended the product offering on its portal to include locally produced hand sanitisers, surface disinfectants and detergents. “As South Africans gradually return to the workplace, the need for a reliable and local source of products which comply with proper health and safety standards is expected to spike and to last throughout

    May 15, 2020 in Manufacturing
  • How to get started with Forex Trading in South Africa

    The trading of currencies has a history that can be traced back to the middle ages when currency had been traded through international banks and thus aided Europeans in spreading the trading of currency throughout both Europe and the Middle East. The Gold Standard Monetary System was created in 1875 and this considered the most

    May 15, 2020 in Investments
  • Manage risk appropriately, stay positive, look for solutions

    As part of our #LockdownLessons series, Bizcommunity is reaching out to South Africa’s top industry players to share their experience of the current Covid-19 crisis, how their organisations are navigating these unusual times, where the challenges and opportunities lie, and their industry outlook for the near future. Adele Naidoo, head of human resources at JoJo

    May 15, 2020 in Manufacturing
  • Retail property’s competitive disadvantage – an overhang from pre-2008

    In a previous note, we indicated that, in the post-lockdown recessionary period we would likely see the direct economy-related pressures being more severe on the industrial property sector, via the highly cyclical manufacturing sector along with economy-wide inventory decline, than on the retail property sector, whose key economic driver, namely the mainstream retail sector, typically

  • Charting a course for post-Covid retail regeneration

    The world is pivoting on an axis of uncertainty right now as many countries, including our own, start the process of moving from restricted living into precautionary living. As a result, there are likely to be significant new and adjusted consumer behaviour and consumption dynamics, many of which are likely to be rebalanced and fundamentally

    May 14, 2020 in Manufacturing
  • Winter clothing directives preceded by detailed consultations

    A statement by Anthony Thunstrom, chair of the National Clothing Retail Federation (NCRF) and CEO of TFG. The announcement made [on Tuesday] by the Department of Trade, Industry and Competition regarding the finalisation of the clothing, footwear and bedding that may be sold during Stage 4 of lockdown, was preceded by detailed submissions made by

    May 14, 2020 in Manufacturing
  • A sneak-peek at the future of crypto asset regulation in South Africa

    The Intergovernmental Fintech Working Group (IFWG) has released its long-awaited position paper on crypto assets following the initial consultation paper published in 2019. The IFWG was established in 2018 and is made up of regulators representing different South African regulatory regimes, from financial services and banking regulators such as the Financial Sector Conduct Authority and

    May 13, 2020 in Investments
  • BT-Industrial signs up as SAPPMA member

    BT-Industrial (BTI) recently signed up as a member of the Southern African Plastic Pipe Manufacturers Association (SAPPMA). Kgomotso Maphai, executive – marketing, sales and logistics, BT Industrial According to Kgomotso Maphai, BTI’s executive in charge of marketing, sales and logistics, the company made the decision to start manufacturing its own HDPE pipes in 2017 in

    May 13, 2020 in Manufacturing
  • Exchange rate in SA – Is there any better time to invest than the present?

    The exchange rate between the rand and other currencies continues to fare poorly. Despite some uplift due to the election of Ramaphosa, it has failed to do much better. It seems for the long term it will not, is there a better time to consider investing elsewhere apart from now? Or do we just adopt

  • #LockdownLessons: Save where you can, cut costs where you must

    As part of our #LockdownLessons series, Bizcommunity is reaching out to South Africa’s top industry players to share their experience of the current Covid-19 crisis, how their organisations are navigating these unusual times, where the challenges and opportunities lie, and their industry outlook for the near future. Grant Smee, MD of Only Realty and founder

  • How did the Middle East best workplaces respond to the Covid-19 Pandemic?

    Employers across the region are working to address the economic challenges that the outbreak of Covid-19 has had on their financial health. Recently, Great Place to Work Middle East announced its annual ranking of the best workplaces in the UAE and the Kingdom of Saudi Arabia, and it’s no surprise that those list in the

    May 7, 2020 in Business News
  • Alshaya Group to bring Canopy by Hilton brand to Kuwait

    Alshaya Group has revealed plans to bring the Canopy by Hilton hotel brand to Kuwait. Canopy by Hilton Kuwait will be located on Arabian Gulf Street in the popular Bneid Al-Gar area. Development of the hotel is expected to start shortly, with opening planned for late 2022. “Canopy by Hilton responds to a growing customer

    May 6, 2020 in Business News
  • JLL Q1 2020 report outlines implications of Covid-19 for real estate

    According to JLL’s recently released South Africa Real Estate Market Performance Q1 2020 report, most real estate sectors across the market have softened with the exception of the industrial sector, which has recorded a strong performance in Q1 2020. The report outlines the implications that Covid-19 will have on major sectors across the country. As

  • Patel meets with clothing and textile industry

    As 1.5 million workers in the South African economy returned to work this week, Trade, Industry and Competition Minister Ebrahim Patel has met with representatives of the clothing textile, footwear and leather sector. Getty Monday’s virtual meeting with the sector was held to review the readiness of shops and factories for the new level four

    May 6, 2020 in Manufacturing
  • Covid-19: UAE authorities direct emirates to explore re-opening of malls

    The two government bodies responsible for overseeing the UAE’s response to the Covid-19 pandemic said it has directed authorities in country to explore the possibility of re-opening malls. National Emergency Crisis and Disaster Management Authority (NCEMA) and the Ministry of Health and Community Protection, in an update on Twitter this morning, said they “directed the

    May 5, 2020 in Business News
  • Investmint wants to help SMEs connect with investors

    #TheLockdownSeries explores the impact of the Covid-19 pandemic on businesses, how they prepared for lockdown and its impacts on operations and employees, as well as lessons learned that we can take into the post-Covid-19 era. Investmint is an online platform that connects businesses in need of loans with investors looking to invest by means of

    May 5, 2020 in Investments
  • Now is the time for masterful inaction

    Despite the latest S&P ratings downgrade to an eye-watering BB-, there will always be opportunities that offer excellent returns and that can make the bold few very rich, but investors should be wary of the property market.. Gary Paragon, CEO, Paragon Lending Solutions “The global shock caused by this pandemic will take its toll and

    May 5, 2020 in Investments
  • Ramadan likely to begin in Saudi Arabia on Thursday evening

    If the crescent moon is seen, Friday, April 24 will mark the first full-day of Ramadan Ramadan is likely to begin on Thursday evening, April 23, if the crescent moon is sighted, according to Saudi Arabia’s Supreme Court. “Anyone who sights the moon through a telescope or naked eye should inform the nearest court,” the

    May 5, 2020 in Business News
  • Dubai’s DFSA fines La Tresorerie for ‘serious breaches’

    The Dubai Financial Services Authority (DFSA) has announced that it has fined La Tresorerie Limited about $612,790 following “multiple, serious breaches” of regulations, mainly stemming from illegal services that provided cash to clients, it was announced on Thursday. In a statement, the DFSA said that the illegal cash service was “in systematic operation” for almost

    May 4, 2020 in Business News
  • Corona crisis exerts additional pressure on already-correcting property market

    A slowing capital growth trend, into negative territory by 2019, has been in play in recent years. The coronavirus crisis is likely to add momentum to this correcting trend in 2020. Image source: Gallo/Getty Economic growth environment deteriorates sharply Through April, some initial data evidence started to emerge of an even weaker economic situation than

    May 4, 2020 in Investments
  • Covid-19: Tenant retention remains competitive at 96%

    While Redefine Properties saw a 32% fall in its distributable income per share for the six months ended 29 February 2020 to 33.46 cents from 49.19 cents in the prior comparable period, its local portfolio held up well, with the tenant retention ratio at 96%. Image supplied CEO Andrew Konig says given the unprecedented and

  • Why downgrading countries in a time of crisis is an exceptionally bad idea

    The street market at Mont-Bouët in Libreville, Gabon. The country was one of 10 on the continent downgraded this year. Getty Images This is not the first time ratings agencies have adopted a procyclical approach – that is, one in which bad news is simply piled on bad news. During the 2008 global financial crisis,

    May 4, 2020 in Investments
  • Joanne Solomon joins SA REIT as CEO

    Joanne Solomon has been appointed the first CEO of the SA REIT Association, effective from 1 May 2020. The association represents SA’s publicly traded real estate investment trust sector, with its members comprising all 30-plus listed SA REITs with a market capitalisation of some R300bn. Joanne Solomon, CEO of the SA REIT Association “Joining SA

  • Covid-19: Gatherings of more than 10 forbidden during Ramadan in Dubai

    Dubai residents will be allowed outside for one outdoor activity, provided it follows the guidelines Dubai has forbidden gatherings of more than 10 people this Ramadan to combat the spread of the Covid-19 pandemic, according to new protocols issued by the Government of Dubai and Dubai Economy. The guidelines state that even in private gatherings,

    May 4, 2020 in Business News
  • Air Arabia Abu Dhabi to fly when ‘market improves’

    Air Arabia Abu Dhabi, the capital’s first low-cost carrier, will start operations once the market conditions improve, the airline’s co-founders said today.  UAE’s aviation regulator has awarded the air operating certificate (AOC) to the new airline, which makes it the country’s fifth carrier. The approval means the new carrier – a joint-venture between Abu Dhabi’s

    May 3, 2020 in Business News
  • Dubai delivery rider killed by drunk driver

    A delivery biker was killed after being struck by a drunk driver in Dubai, according to local media reports. Citing Dubai Police, Gulf News reported that the man was stationary at a traffic light on Al Wasl road when the fatal incident occurred. Paramedics arrived at the scene at 9:30pm, but the delivery driver died

    May 2, 2020 in Business News
  • Majid Al Futtaim launches Carrefour-powered online marketplace

    Majid Al Futtaim has launched an online marketplace to provide the company’s shopping mall tenants and other businesses with an e-commerce channel to reach their customers, the company has announced The platform – on carrefouruae.com – has been piloted for six months with third-party sellers. A number of mall tenants have already joined the platform,

    May 1, 2020 in Business News
  • Embattled Finablr-owned Travelex goes up for sale

    BR Shetty has resigned from the board off Travelex, although he remains in place as chairman and majority stakeholder at Finablr The board of Finablr-owned Travelex has decided to seek offers for the forex firm, the company said in a statement to the London Stock Exchange. In the statement, Travelex said that “parties with a

    April 30, 2020 in Business News
  • S&P sinks South Africa further into the junk

    Standard & Poor’s has lowered South Africa’s further into junk status with a “BB-” credit rating because of the “significant adverse implications” of Covid-19 on the country’s already-weakened economy Early efforts to contain the spread of the virus have limited the health impact, but “the Covid-19 health crisis will create additional and even more substantial

    April 30, 2020 in Investments
  • ‘Urgent’ help needed for MENA airlines facing $24bn revenue loss, IATA says

    “Urgent” help is needed to help airlines across the Middle East and North Africa, where many are “struggling to survive” amid the Covid-19 pandemic, according to Muhammad Al Bakri, the regional vice president of the International Air Transport Association (IATA). On Thursday, IATA said that MENA airlines could lose $24 billion worth of passenger revenue

    April 30, 2020 in Business News
  • Brent oil drops to 21-year low as selling pressure intensifies

    Oil in London tumbled to the lowest in almost 21 years as the global benchmark was sucked into the rout that sent US futures below zero for the first time ever this week. Brent futures for June delivery lost 15% to trade near $16 a barrel while New York’s West Texas Intermediate fell 5% having

    April 29, 2020 in Business News
  • Kuwait reports 151 new cases of coronavirus

    Kuwait has reported 151 new confirmed cases of coronavirus, bringing the country’s total to 2,399, according to the state-run KUNA news agency. Health Ministry spokesman Dr. Abdullah Al-Sanad said that one death was also reported, bringing the country’s total death toll to 14. The most recent death was identified as a Kuwaiti citizen in his

    April 29, 2020 in Business News
  • the new imperative for food and beverage manufacturers

    To feed the world in a new era of awareness and to sustain their own future, manufacturers need to change their mindsets, adopt next generation processing equipment and methods that will enhance nutrition, boost health – for all – be kinder to the planet, and be consciously capitalistic. The world has an opportunity to reboot

    April 28, 2020 in Manufacturing
  • Oman tells banks to free loan repayments for three-months

    The decision will come into effect in May. Oman’s Central Bank has asked that banks and other financial institutions to freeze repayments for personal and housing loans for a three month period amid the Covid-19 pandemic, the state-run Oman News Agency has reported. The decision will come into effect in May. No additional commission fees

    April 28, 2020 in Business News
  • Levelling the business playing field in a post-pandemic world

    In a South African perspective, there has been but a single life-changing socio-economic crisis in the past century that has had the kind of legacy which the Coronavirus is believed will have, and that is the taunting legacy of apartheid. With this in mind, Covid-19′ impact and subsequent aftermath will require a shift – a

    April 28, 2020 in Investments
  • Coronavirus: Emirates announces April repatriation flights

    Emirates plans to operate a limited number of passenger flights through the end of April to repatriate citizens to several locations in Europe, Africa and Asia, the airline has announced. In a statement, Emirates said that it plans to operate services to the Frankfurt, Germany on April 25, 27 and 29, as well as London

    April 27, 2020 in Business News
  • DP World sees ‘uncertainty’ in 2020 despite stable first quarter

    Group chairman and CEO Sultan Ahmed bin Sulayem said that the impact of the Covid-19 is a ’cause for concern’ but that the sector’s long-term fundamentals remain promising The logistics sector is facing ‘uncertainty’ amid the Covid-19 pandemic despite a relatively stable first quarter for Dubai-based ports operator DP World, according to group chairman and

    April 27, 2020 in Business News
  • Kuwait to re KFH's acquisition of Bahrain's Ahli United

    When first announced in September 2019, the deal was valued at $8.8 billion Source link

    April 26, 2020 in Business News
  • NMC Health backer weighs strategic options, debt revamp

    Abu Dhabi-based KBBO Group, once one of NMC Health Plc’s biggest shareholders, plans to restructure its debt and is weighing strategic options for the business, people familiar with the matter said. KPMG LLP is advising the privately-held investment firm on the asset review along with ways to address the company’s debt load, according to the

    April 25, 2020 in Business News
  • UAE announces 518 new Covid-19 cases, four deaths

    UAE authorities have announced 518 new confirmed cases of Covid-19 in the country, as well as 4 additional deaths. To date, there have been 8,756 confirmed cases of Covid-19 in the country. The UAE’s death toll now stands at 56. According to the UAE’s Ministry of Health and Prevention (MoHAP), the four deaths were all

    April 25, 2020 in Business News
  • Coronation Fund Managers supports the Solidarity Fund

    In response to the president’s call for contributions, 90 employees and the senior leadership from Coronation Fund Managers are pledging a portion of their salaries for a period of three months to the Solidarity Fund. Following the initial announcement of the three-week lockdown, on the evening of Thursday, 9 April, President Cyril Ramaphosa announced that,

    April 24, 2020 in Investments
  • UAE's FTA extends deadline for VAT filings, payments

    The move is valid for the tax period ending March 31 Source link

    April 24, 2020 in Business News
  • Time for novel way of thinking and doing business

    Many models of economic activity will become redundant after Covid-19, including employer-employee relationships. While we are in lockdown, the media around the world are full of speculation about what the short, medium and long term hold for the economy and industrial sectors. People such as CEOs, who have to make far-reaching decisions in this environment,

    April 24, 2020 in Investments
  • Proudly SA launches marketplace for locally-made face masks

    ©montian noowong via 123RF The online marketplace links corporate buyers with local producers of masks. Proudly SA has been working on the site over the past week. “This initiative is an effort to support a sector of our economy that is able to meet the current pressing demand for face masks, which we have been

    April 24, 2020 in Manufacturing
  • Over 450,000 meals donated as part of ’10 Million Meals’ campaign

    Over 15,000 donors have pledged 450,000 meals and food parcels online to support those in need during the Covid-19 pandemic as part of the ’10 Million Meals’ campaign. The campaign allows individuals and institutions to make financial and in-kind donations towards providing meals and food parcels to low-income individuals and families across the country during

    April 24, 2020 in Business News
  • Pepkor donates over R2m towards Covid-19 relief

    South African retailer Pepkor is supporting the fight against Covid-19 through a number of initiatives, including donating a portion of senior leadership’s salaries to relief efforts and having its clothing manufacturing division produce face masks and surgical gowns. Pepkor’s Pepclo factory will manufacture approximately 50,000 cloth masks per day. Pepkor, which owns Pep, Ackermans, Tekkie

    April 23, 2020 in Manufacturing
  • Dubai organises ‘virtual’ sports competitions for Ramadan

    On Saturday, April 25 the Dubai Sports Council has organised a webinar featuring former Newcastle United defender Steven Taylor The Dubai Sports Council is organizing a number of ‘virtual’ sports events during the month of Ramadan, including races, it was announced on Wednesday. Among the events is the Ramadan Mubarak Challenge, a virtual running event

    April 23, 2020 in Business News
  • Newly formed property council to tackle impact of Covid-19

    The National Property Practitioners Council (NPPC), consisting of various representative bodies from the South African real estate sector, has been launched. The council aims to act as the national industry representative body in all matters pertaining to the sector. Image source: Gallo/Getty The NPPC is the result of industry-wide consultation to create the most appropriate

    April 23, 2020 in Property & Real Estate
  • E-sports surge in popularity, exposure amid Covid-19 pandemic

    The suspension of sporting events as a result of the Covid-19 pandemic may lead to greater interest and a boost in viewership of e-sports, according to regional industry insiders. Around the world, e-sports has seen a dramatic spike in viewers over the last several months. Amazon’s Twitch streaming platform, saw a 60 percent jump in

    April 22, 2020 in Business News
  • L’Oréal begins production of hand sanitiser at Gauteng factory

    L’Oréal South Africa has started producing hand sanitisers under its beauty brand Garnier at the group’s local factory in Midrand, Gauteng. Credit: Milton Media / L’Oréal South Africa Twenty thousand hand sanitisers from the initial production will be donated to the South African Covid-19 Solidarity Fund to assist: • Healthcare facilities with safeguarding healthcare and

    April 22, 2020 in Manufacturing
  • 100 Beautiful Things showcases SA’s creative design and ingenuity

    The V&A Waterfront’s new 100 Beautiful Things initiative celebrates the creativity of the makers behind some of South Africa’s most inspiring projects, products, ideas and experiences. All of the ideas showcased have been created with either compassion, sustainability, future-thinking or local essence at their core, with some being recognised for just simply being beautiful. Hlabisa

    April 22, 2020 in Manufacturing
  • Navigating uncertainty: Lockdowns and downgrades

    Reza Hendrickse. portfolio manager, PPS Investments</span>Investors have recently witnessed a sudden and dramatic shift in the investment landscape, with the unfolding Covid-19 crisis globally, and locally, South Africa’s recent credit rating downgrade to junk, weighing on investor’s minds. Furthermore, the negative oil price shock has also contributed to extreme levels of risk aversion across the

    April 22, 2020 in Investments
  • Pumping the brakes on FMCG

    COVID-19 spreads from person to person through physical contact with contaminated surfaces or objects, or other people carrying the virus. Theoretically, avoiding contact with people or objects with Covid-19 should curb the spread of the virus. Getty But how practical is this when some people have no way of practicing social distancing, when they have

    April 22, 2020 in Manufacturing
  • Economic support package to prop up ailing economy

    President Cyril Ramaphosa’s additional economic support package to address the fallout on the economy from Covid-19 represents a highly substantial raft of measures designed to assisted distressed businesses, households and individuals, adding up to about 10% of South Africa’s GDP. Professor Raymond Parsons The president’s statement recognises that the economic and human costs associated with

    April 22, 2020 in Investments
  • Coronavirus: UAE announces fee reduction for 94 services, up to 98% discount

    The UAE Ministry of Economy has announced a reduction in fees for 94 services, of up to 98 percent, as part of efforts to mitigate the impact of the current coronavirus outbreak. According to a statement, the reductions, worth $31 million to the business sector and to be implemented this year, span a range of

    April 22, 2020 in Business News
  • UAE completed 95 cloud seeding operations in Q1

    National Centre of Meteorology revealed that 2,171 flares were produced by Emirates Weather Enhancement Factory The National Centre of Meteorology (NCM) carried out 95 cloud seeding operations across the UAE in the first quarter of 2020. The NCM revealed that a total of 2,171 flares were produced by Emirates Weather Enhancement Factory. Dr. Abdulla Al

    April 21, 2020 in Business News
  • Staying ahead of your finances in 2020

    If 2020 is the year you’re keen to get ahead with saving or to improve your financial situation, there are several steps you can take. In this guide, we’ll talk about tried and tested methods you can employ to grow your money, avert financial problems and build a brighter, more prosperous future. Staying ahead of

    April 21, 2020 in Investments
  • Emirates airline resumes limited flights from DXB Terminal 3

    Emirates is set to resume passenger services from Dubai International Airport’s Terminal 3 from Sunday night (April 12) to select destinations. It had previously been announced that a limited number of repatriation flights operated by the Dubai-based carrier would be undertaken from the airport’s Terminal 2. Destinations include London Heathrow, Frankfurt, Paris, Brussels, and Zurich, with

    April 20, 2020 in Business News
  • Mauritius heads into coronavirus storm with strong social welfare buffers

    Mauritius’ social welfare system is relatively stronger than most nations’ Getty Images The World Bank estimates that the continent’s pace of economic growth may drop from 2.4% in 2019 to -2.1% to -5.1% in 2020, the first recession in 25 years. The continent could face a balance of payments shortfall in excess of $100bn in

    April 20, 2020 in Investments
  • Coronavirus: Oman confirms 53 new cases, taking total to 599

    Oman has confirmed a further 53 new cases of coronavirus, bringing the total number of infections in the sultanate to 599. The Ministry of Health revealed the death toll remains at three, while the total recoveries in the country stands at 109. Meanwhile, the Ministry of Commerce and Industry has stressed that entry to shopping

    April 20, 2020 in Business News
  • Coronavirus: UAE announces online wedding services

    Ceremonies will be conducted via video link following approval of necessary paperwork The United Arab Emirates has launched an online marriage service that allows couples to wed amid restrictions on movement and interaction imposed to counter the deadly coronavirus. The UAE has taken strict measures to combat the spread of the Covid-19 respiratory disease, which

    April 19, 2020 in Business News
  • Dubai Police install sterilisation gate in Naif area

    District is currently subject to two-week complete lockdown as part of Covid-19 restrictions A sterilisation gate has been installed to safeguard residents entering and leaving the Naif area of Dubai. The gate has been launched by Dubai Police as part of increased efforts to combat the spread of coronavirus in the heavily built up district

    April 19, 2020 in Business News
  • The world has shifted, the future has already begun, and it’s online, says HyperPay CEO Muhannad Ebwini

    With Covid-19 causing more businesses to close their doors or drastically reduce their operations, the ones who were fast enough to migrate online in time are the ones who will most likely make it with the least negative impacts on their business. HyperPay’s CEO Muhannad Ebwini said HyperPay has seen a phenomenal 150% increase in

    April 18, 2020 in Business News
  • CK Architecture Interiors: Designing a greener future

    Cem Kapancioglu, CEO of CK Architecture Interiors, discusses how architects and designers can contribute to building a more sustainable environment, in greener ways Sustainability is a big issue in architecture – how does CK embrace this important philosophy? We use materials that are native to their environment – build for purpose – and essentially ‘speak

    April 17, 2020 in Business News
  • 11-point plan to rebuild economy, property sector post Covid-19

    The recent announcement of the Moody’s downgrade comes at a time when the economy is already under extreme pressure due to the Covid-19 lockdown. Many key industries have been ground to a halt with devastating consequences for mostly poor, marginalised communities and informal traders. Many emerging landlords, small business owners, contractors and commission-based earners who

    April 17, 2020 in Property & Real Estate
  • Your retirement savings and Covid-19

    People are worried about how the uncertainty of Covid-19 is impacting on the markets where a big portion of their retirement savings is invested. The next time members look at their retirement benefit statement, there is a good chance that they’ll be disappointed and concerned by low, or even negative, investment returns and a possible

    April 17, 2020 in Investments
  • Drop in interest rate welcome relief but more measures are needed

    The recent surprise announcement by the governor of the Reserve Bank, Lesetja Kganyago, of a further drop in the repo rate by 100 basis points to 4.25% per annum is welcome news for the property sector, as it takes the prime lending rate down to 7.75%. This 1% drop in the interest rate allows for

    April 17, 2020 in Property & Real Estate
  • Ras Al Khaimah Academy announces 20% discount on term 3 fees

    Ras Al Khaimah Academy (RAKA) is the latest educational establishment to announce a reduction in fees for the third term. The Academy has said that it will be offering a 20 percent discount to parents. Additionally, RAKA revealed it will be refunding all non-academic third-term fees, such as transportation and canteen charges. “We are pleased

    April 17, 2020 in Business News
  • Philippine Airlines to launch flights to Saudi Arabia in May

    Philippine Airlines has revealed plans to resume a selection of international and domestic flights on select routes in May, including Saudi Arabia. However, the Filipino flag carrier has said the scheduling for next month does not include Dubai. Saudi is on a list of destinations for the weekly flights, which includes Japan, the US (including

    April 16, 2020 in Business News
  • IFWG releases position paper on crypto assets

    Regulators across the globe are formulating frameworks for dealing with crypto assets as a deeper collective understanding of this technology unfolds. In South Africa, the Intergovernmental Fintech Working Group (IFWG), a group of financial sector regulators, has drafted a policy position paper on crypto assets. The purpose of the paper is to provide specific recommendations

    April 16, 2020 in Investments
  • The case for IMF funding is not clear cut

    The announcement by the Minister of Finance Tito Mboweni that the South African government is considering approaching the International Monetary Fund (IMF) for financial assistance amid the Covid19 pandemic has drawn quite a bit of criticism. Historically, aid to developing nations by the IMF has typically been marred by strangling economic policies and structural adjustment

    April 16, 2020 in Investments
  • Traders hit as crude glut fills Fujairah hub

    Port’s 14 million barrels of commercial crude-storage capacity is just a fraction of what Saudi Arabia and Abu Dhabi provide for their state oil companies With the coronavirus choking fuel demand, and the world awash in surplus crude, even the Middle East’s main oil-trading hub has run out of room to store unwanted barrels. Terminal

    April 15, 2020 in Business News
  • 10 ways to stay connected on Biz during lockdown

    Self-isolation, lockdowns, working remotely and physical distancing can get you down. Bizcommunity is the daily ‘virtual commute’ that brings you closer to 19 industry communities. The massive interest in Covid-19 related articles has contributed to a 28% increase in our global page impressions. This is just one of the reasons why continuing to publish on

    April 15, 2020 in Investments
  • UAE mulls curbs on nations refusing evacuation requests

    Move comes after a number of nations didn’t respond to requests from their citizens for repatriation The United Arab Emirates is considering imposing restrictions on work quotas of countries that refuse to accept their nationals who wish to leave the Gulf nation amid the coronavirus outbreak. The Ministry of Human Resources & Emiratisation is weighing

    April 15, 2020 in Business News
  • there’s a strong case that it should change tack

    As government, economists, activists, business leaders and the public debate the size and scope of government support to the Covid-19 hit economy, it is worth asking a simple question: what is the impact of government spending? National Treasury and Finance Minister Tito Mboweni support budget cuts, labour market deregulation, and tax cuts. Getty Images This

    April 15, 2020 in Investments
  • UAE pharma firm Julphar announces capital restructuring

    Julphar, one of the largest pharmaceutical manufacturers in the Middle East and Africa, has approved capital restructuring at the company’s annual general assembly (AGM). Under the plan, the Ras Al Khaimah-based company is looking to reduce its share capital by just over AED503m by cancelling shares to extinguish accumulated losses and raising AED500m through new

    April 14, 2020 in Business News
  • Sarb’s rate cut surprise

    In a surprise move, the South African Reserve Bank (Sarb) has cut interest rates by another 100 basis points to help support the country’s economy as it grapples with a rapidly deteriorating situation as result of the extended Covid-19 lock down. Rates are now down 225 bps since the start of the year, and down

    April 14, 2020 in Investments
  • Defy to begin building ventilators in SA this May

    Home appliances manufacturer, Defy, has heeded President Ramaphosa’s call for technical and industrial organisations to focus on the manufacture of non-invasive ventilators to assist those afflicted with Covid-19. The company aims to begin building the ventilators this May to cater to the demand for medical equipment across sub-Saharan Africa. Supplied by Defy National Ventilator Project

    April 14, 2020 in Manufacturing
  • Flydubai announces repatriation flights to 13 additional destinations

    Flydubai has announced a list of repatriation flights for people in the UAE to return to their respective countries. The low-cost carrier operated 23 repatriation flights, carrying 2,800 passengers, from the UAE between March 19 and April 8. The flights, operating from Dubai International Airport’s Terminal 2, departed for Afghanistan, Croatia, Egypt, Iran, Russia, Sudan,

    April 14, 2020 in Business News
  • Covid-19: Vaccine against the coronavirus could be ready by September

    Sarah Gilbert, professor of vaccinology at Oxford University, said she is ‘80% confident’ the vaccine would work A vaccine against the coronavirus could be ready by September, according to a scientist leading one of Britain’s most advanced teams. Sarah Gilbert, professor of vaccinology at Oxford University, told The Times on Saturday that she is “80%

    April 13, 2020 in Business News
  • UK Prime Minister Boris Johnson leaves hospital

    Boris Johnson left hospital on Sunday to convalesce from COVID-19 at Chequers, the country estate of British prime ministers, officials said, a week after he was admitted and then spent three days in intensive care. The 55-year-old leader will not be immediately returning to work, on the advice of his medical staff, a Downing Street

    April 12, 2020 in Business News
  • UAE doubles stimulus to $70bn to combat coronavirus impact

    The central bank has reduced by half to 7.0 percent the reserves banks are required to keep for demand deposits The Central Bank of the United Arab Emirates (CBUAE) has doubled to $70 billion a stimulus package to support the Gulf state’s economy amid the coronavirus pandemic. “The aggregate value of all capital and liquidity

    April 12, 2020 in Business News
  • Black death makes us think about interest rates

    An outbreak in a pre-capitalistic society has no exact parallels with today, though it does highlight some of our current challenges, writes Andy Mukherjee All upheavals leave their marks. Some fade away, some linger. Following the Black Death, the plague that’s believed to have killed 60% of Europe’s population in the second half of the

    April 11, 2020 in Business News
  • OPEC to try to stem oil price plunge amid coronavirus slowdown

    At OPEC’s last meeting in December, the producers agreed to cut production by 500,000 barrels per day, with Saudi Arabia offering a further 400,000 barrels of ‘voluntary’ cuts The OPEC club of oil-producing countries meets Thursday in Vienna as they weigh how to react to a sharp drop in global oil demand due to the

    April 10, 2020 in Business News
  • Google data shows Covid-19 mobility trends in UAE, Saudi

    Google is publishing users’ location data as it aims to help governments around the world tackle the Covid-19 pandemic by proving the effectiveness of measures such as social distancing. The data includes the movement of users from 131 countries including GCC countries UAE and Saudi Arabia, and will be made available on a special website

    April 10, 2020 in Business News
  • Keep your receipts: Dubai residents must have proof of essential movement

    Authorities have introduced stricter measures to combat the coronavirus pandemic, including a 24-hour lockdown Dubai Police have requested residents leaving their homes to shop for groceries or seek medical treatment to keep their receipts as proof to present to authorities if stopped by a patrol car or detected by a radar. The announcement comes as

    April 9, 2020 in Business News
  • The big asks Africa needs to table with the IMF and World Bank: here’s the list

    South African Reserve Bank Governor Lesetja Kganyago chairs the International Monetary Finance Committee. Getty Images These virtual meetings will include the G20 finance ministers and central bank governors and the body that advises IMF Governors about the management of the international financial system – the International Monetary and Finance Committee. The participants in these meetings

    April 9, 2020 in Investments
  • Covid-19 ripples into container industry

    While South Africa is two weeks into a 21-day lockdown, most of the world has been shaken to its core. An estimated 20% of the global population is in some form of a lockdown and those who are not in government-mandated lockdowns are mostly taking extreme measures to self-isolate to contain the rapid outbreak of

    April 9, 2020 in Manufacturing
  • Kuwait’s stimulus package offers $16.5bn in additional lending, KBA chairman

    Adel Al-Majed has said the global crisis posed by coronavirus is worse than the financial meltdown of 2008 The Central Bank of Kuwait (CBK) has made almost $16.5 billion available for additional lending from local banks. Chairman of Kuwait Banking Association (KBA) Adel Al-Majed said the stimulus package includes easing the conditions previously set by

    April 8, 2020 in Business News
  • Protecting your retirement savings in a pandemic

    Many investors from around the world, including South Africans, are becoming increasingly concerned about the impact of Covid-19 on what may be their biggest investment – their retirement savings. Vickie Lange, head: best practice, Alexander Forbes Retirement fund savings have decreased The value of your retirement savings is linked to what happens in the financial

    April 8, 2020 in Investments
  • Textile industry agrees on temporary relief for employees

    Regulations giving effect to the government’s commitment to assist ailing industries and workers through the Unemployment Insurance Fund are being gazetted. The first agreement, gazetted on Tuesday, is between the Minister of Labour and the National Textile Bargaining Council. It states that the regulations apply to all employers in the industry, not just council members,

    April 8, 2020 in Manufacturing
  • Covid-19: Looking after pets during times of coronavirus

    Dr Sara Elliott, founder and director of veterinary services at British Veterinary Hospital, addresses concerns surrounding pets and Covid-19 Following the outbreak of Covid-19 and the following mass of information and misinformation surrounding its origins, there has been an unprecedented amount of uncertainty and doubt regarding pets and whether they can catch the virus or

    April 8, 2020 in Business News
  • Coronavirus: UAE-based property group calls for rent deferrals

    The Representative Committee of the Real Estate Sector Business Group of the Sharjah Chamber of Commerce & Industry said move would ensure business continuity A UAE-based property group has called on property owners to delay rent payments for residential and commercial tenants impacted by the coronavirus outbreak. The Representative Committee of the Real Estate Sector

    April 7, 2020 in Business News
  • Mining funding in a new economic reality

    Both commodity prices and investment in South African mining will no doubt be impacted by measures taken to curb the spread of Covid-19 and the anticipated economic fallout. Local mining operations have been limited to care and maintenance activities only and anticipated mine closures will have an adverse impact on production, which would affect commodity

    April 7, 2020 in Investments
  • European agri industry gets funding for Covid-19

    The European Investment Bank (EIB) announced the launch of a new financing initiative that aims to unlock close to €1.6bn of investment in the agriculture and bioeconomy sector. The initiative targets investments by private cooperatives and companies in the agriculture and bioeconomy sector and aims to support private companies operating throughout the value chains of

    April 7, 2020 in Energy
  • Dubai lockdown: Everything you need to know

    Exempt sectors, public transport and jail time: all the details surrounding the government’s preventative measures against Covid-19 As Dubai extends its lockdown and National Sterilisation Programme over 24 hours for two weeks in a bid to combat the spread of Covid-19, here is everything you need to know: All individuals leaving the house must wear

    April 7, 2020 in Business News
  • Not taking lockdown lying down

    In true South African spirit, even in times of adversity, daily stories of generosity and ingenuity abound. Never have we been more proud of how business communities are using our publishing platforms than since the outbreak of the Covid-19 coronavirus. Recent comments from UK press referring to South Africa’s ‘formidable leadership’ in the handling of

  • You’re not alone: UAE offers mental health support amid Covid-19 impact

    A series of programmes have been launched to help residents overcome mental challenges UAE residents who feel psychologically overwhelmed by the impact of the global Covid-19 pandemic can now seek help through an online initiative by the National Programme for Happiness and Wellbeing (NPHW). Over 50 psychology experts will help residents overcome their psychological challenges

    April 6, 2020 in Business News
  • Business un-usual at BMi Research

    BMi Research continues to operate and is doing everything in its power to ensure that clients continue to receive reports and insights during the enforced 21-day lockdown period. As a proudly South African business we fully support the government’s initiatives to flatten the curve of the rate of transmission of the coronavirus and impose a

    April 6, 2020 in Manufacturing
  • How Covid-19 will affect the industrial property market

    The Covid-19 hurricane has engulfed the world and all businesses are entwined in a whirlwind of uncertainty. In South Africa, with the lockdown of shopping malls, a lot of discussions have revolved around the major retailers and the listed property funds. But, there has been minimal commentary on how the lockdown is affecting industrial-based businesses

    April 6, 2020 in Manufacturing
  • Enter the world of Audi

    Despite the coronavirus pandemic and halted production, customers and fans can explore the high-tech production of Audi with the online AudiStream tour experience. The plant in Ingolstadt, Germany is open to visitors in virtual form. Anyone interested can book an interactive tour online and experience Audi at from the comfort of your home. There are

    April 6, 2020 in Manufacturing
  • Coronavirus: Dubai Economy issues 14 fines for price fixing

    Fourteen businesses in Dubai have been fined for inflating the price of hygiene essentials. Dubai Economy has revealed that nine pharmacies in Nad Al Hamar, Al Mizhar, Nad Hessa, Sheikh Zayed Road, Hor Al Anz, A Twar, Al Qusais, Umm Suqaim and Al Warqa were punished for pushing up the price of face masks. Two

    April 5, 2020 in Business News
  • Kuwait coronavirus cases jump to 56 as Iran link grows

    Health Ministry confirms 10 new cases in last 24 hours, saying all patients have visited Iran Ten coronavirus (COVID-19) cases have been registered in Kuwait in the last 24 hours, taking the total number to 56, it was announced on Monday. Dr Buthaina Al-Mudhaf, the Health Ministry’s Assistant Undersecretary, told a daily briefing that the

    April 5, 2020 in Business News
  • Dubai Taxis’ booking service Hala to match tips given to drivers

    Covid-19 has seen a sharp decline in demand for taxis, with restrictions on movement in place The booking service for Dubai Taxis, Hala, has said it will match any tips given to its drivers in an effort to supplement their income, starting from Sunday. A joint venture between Dubai’s Roads and Transport Authority (RTA) and

    April 4, 2020 in Business News
  • Lulu Exchange app sees surge in downloads

    LuLu Money has over 350,000 downloads to date, 15,000 of which were in the last 10 days LuLu International Exchange has seen a surge in downloads of its app LuLu Money, as Coivd-19 restrictions see more people turn to digital solutions to remit money. With over 150 branches in the Gulf region (and 75 in

    April 3, 2020 in Business News
  • Uncertainty is the enemy – SA downgraded to junk status

    A lot has been said in the media over the last few weeks regarding the possibility of whether South Africa would be downgraded to junk status by Moody’s and thereby be forced to exit the FTSE World Government Bond Index (WGBI). Emphasis was placed on the implications for our stumbling economy, the government, corporates, consumers

    April 3, 2020 in Investments
  • Dubai’s Limitless to hire advisers as third restructuring looms

    Company is unable to pay accrued profit at the end of the month, according to reports Limitless World LLC is close to hiring financial and legal advisers for the Dubai-based developer’s third restructuring as the emirate’s ongoing property slump is set to worsen. The company told creditors that it’s in the “final stages” of engaging

    April 3, 2020 in Business News
  • South African couple run ‘balcony marathon’ in Dubai

    A South African couple who ran a marathon on the balcony of their Dubai apartment, streaming it online, plan to take the project global to help people shake off the coronavirus blues. Collin Allin, 41, and wife Hilda covered the 42.2-kilometre (26-mile) distance by running more than 2,100 laps of their 20-metre (yard) long balcony

    April 2, 2020 in Business News
  • Pfizer, BioNTech scientists helping develop coronavirus vaccine

    Scientists are helping develop a potential vaccine aimed at preventing the coronavirus infection. Pfizer Inc and BioNTech have signed a deal to work together on the mRNA-based vaccine programme, BNT162, which is expected to enter clinical testing by the end of April. Sinan Atlig, regional president for Pfizer Biopharma in Africa and the Middle East,

    April 2, 2020 in Business News
  • Solutions for landlords and tenants impacted by lockdown

    If you are in the situation where your income is threatening your ability to pay rent, you must take action now, rather than later. Many renters are going to feel trapped, and possibly even terrified, by the sequence of cause and effect events of the coronavirus, particularly if the forced lockdown is going to impact on their

  • Polo manufactures 250,000 ‘commuter face masks’ at Atlantis factory

    Polo South Africa has pledged 250,000 cotton fabric masks for the City of Cape Town to distribute to commuters and essential service workers across the country during the Covid-19 pandemic. While many South Africans are working from home, some are still dependent on public transport. Commuters who are part of essential services as well as

    April 1, 2020 in Manufacturing
  • Coronavirus: Oman’s biggest oil and gas producer PDO to cut staff

    Petroleum Development Oman, the Gulf Arab country’s biggest producer, plans to reduce the number of staff working on its oil and gas projects in response to the spread of the coronavirus. PDO has started discussions about the cuts with contractors, it said in an emailed statement. The company will review its projects and expects equipment

    April 1, 2020 in Business News
  • time to add size, scale and speed

    It’s time the EU turned its rhetoric about Africa into more tangible action. epa In 2007, they reiterated their ambition to come together in awareness of the lessons and experiences of the past, but also in the certainty that our common future requires an audacious approach Why then, despite such good intentions, have they fallen

    April 1, 2020 in Investments
  • time to add size, scale and speed

    It’s time the EU turned its rhetoric about Africa into more tangible action. epa In 2007, they reiterated their ambition to come together in awareness of the lessons and experiences of the past, but also in the certainty that our common future requires an audacious approach Why then, despite such good intentions, have they fallen

    April 1, 2020 in Investments
  • What measures can leaders take?

    With the novel coronavirus Covid-19 having reached the African continent, countries are getting ready to manage the spread of the virus and ensure that their fragile health systems can cope. Images from China and Europe give many reasons for concern. Image source: UNMEER, CC BY-ND 2.0, Flickr In addition to the health challenges posed by

    April 1, 2020 in Investments
  • Lulu restricts shopping hours during UAE sterilisation

    Lulu Supermarkets has revised its opening hours amid the ongoing sterilisation programme in the UAE. Officials in the country have announced an extension of the disinfection programme until Sunday April 5, during which time people must stay at home from 8pm to 6am each day. In line with that, Lulu has revised its opening hours,

    March 31, 2020 in Business News
  • 6 steps to sustainably flatten the coronavirus curve

    We are in the midst of an unprecedented crisis. It started as a health crisis, within days became a real economic crisis, and is now on a swift path to becoming a massive fiscal challenge as well. While reserve banks and governments are reacting swiftly to try to stabilise the economy and financial markets, many

    March 31, 2020 in Investments
  • Room for further interest rate cuts

    Notwithstanding the need for the country to be united in its response to the coronavirus threat and the need to remain steadfast and positive in the belief that we will get through this immense challenge we are facing at a humanitarian level, there’s no doubt that while anticipated, South Africa’s downgrade to junk status by

    March 31, 2020 in Property & Real Estate
  • Coronavirus: Carluccio’s no plans to shut Middle East restaurants, despite UK money troubles

    Carluccio’s, the Italian restaurant chain bought by Dubai’s Landmark Group in 2010, is set to go into the administration in the United Kingdom, due to the impact of the Covid-19 coronavirus outbreak, but none of its Middle Eastern operations will be affected. It was confirmed last week that FRP Advisory, the UK-based restructuring specialists, had

    March 31, 2020 in Business News
  • Coronavirus: Abu Dhabi to suspend parking charges for 3 weeks

    Abu Dhabi decision comes into effect from tomorrow (Monday) and is subject to “revision and extension” Abu Dhabi’s Department of Municipalities and Transport has announced a three-week suspension of Mawaqif parking charges in the emirate. The decision comes into effect from tomorrow (Monday) and is subject to “revision and extension” the authority said in a

    March 30, 2020 in Business News
  • What to expect from property in a Covid-19 world

    As we all band together against the Covid-19 virus and the inevitable economic chaos that will be left in its wake, information sharing has never been more important. Having several countries ahead of our own curve in dealing with the virus has provided invaluable perspective on the safest routes forward as a nation. It has

    March 30, 2020 in Property & Real Estate
  • Could the IMF steady South Africa’s trembling boots?

    These are strange and unpredictable times. For the first time ever and as a result of the economic stranglehold that the novel coronavirus (Covid-19) pandemic has on markets, the United States has been downgraded by credit ratings agency Standard and Poor’s, from its top-notch AAA rating to AA+ with a negative outlook. Ian Matthews, head:

    March 30, 2020 in Investments
  • There’s no shortage of toilet paper in SA

    The Paper Manufacturers Association of South Africa (Pamsa) has confirmed that the pulp, paper, packaging, recycling and tissue value chains will continue to operate as a “critical business continuity service” supporting the manufacturing, processing and distribution of essential goods and services during the lockdown. The sector provides wood and recycled paper fibre for the production

    March 30, 2020 in Manufacturing
  • AfDB launches $3bn ‘Fight Covid-19’ Social Bond

    The African Development Bank’s new $3bn Fight Covid-19 Social Bond is the largest dollar-denominated social bond ever launched in international capital markets to date, and the largest US dollar benchmark ever issued by the bank. With a three-year maturity, it will pay an interest rate of 0.75%. Image source: Julien Harneis, CC BY-SA 2.0, Flickr

    March 30, 2020 in Investments
  • Moody’s downgrade hits as lockdown begins

    Moody’s downgrade of South Africa’s credit rating has been looming for quite a while, but it couldn’t have come at a worse time. The announcement was made at end of the first day of South Africa’s stringent 21-day lockdown period to break the chain of transmission of the Covid-19 virus. The ratings agency has changed

    March 30, 2020 in Investments
  • Coronavirus: Lulu sourcing 1.6 million face masks daily

    Dubai Economy has reassured public about availability of masks, gloves and sanitiser Supermarket chain Lulu is sourcing 1.6 million face masks daily on average for the UAE. Dubai Economy revealed the delivery numbers in a move to reassure residents concerned about the availability of items such as face masks, gloves and hand sanitiser amid the

    March 29, 2020 in Business News
  • Takeaways for the private equity industry

    South Africa started 2020 on the ropes with economists generally expecting the annual GDP growth to be below 1%. This already weak outlook has been exacerbated by the impact of Covid-19 and the consequent curtailment of economic activity. Covid-19 is a game changer, with significant ramifications for every aspect of the global economy and will

    March 27, 2020 in Investments
  • how Ramaphosa is stacking up

    The Covid-19 pandemic is an extreme crisis that puts government under severe pressure. It puts the political judgement of the president or prime minister under the most intense spotlight. Not since the height of the Cold War have the stakes been higher. In happier and less challenging times: world leaders and guests pose for a

    March 26, 2020 in Investments
  • Increased confidence in property expected as stock markets show extreme volatility

    While the recent national lockdown announcement by President Cyril Ramaphosa has dramatically changed the lives and lifestyles of South Africans, time has proven that as a united country, and within our local communities, we have the ability to harness our indomitable spirit and overcome challenges and hardships. From a residential property market perspective, historically, recent

    March 25, 2020 in Property & Real Estate
  • The economic impacts and prospects of Covid-19

    With South Africa headed into a 21-day lockdown this week, combatting the threat of the Covid-19, has been made a key national priority. Never before in our democracy have we seen a national lockdown taking place, but the gravity of the current situation absolutely demands it. Futurist, Marius Oosthuizen “To put things into perspective, if

    March 25, 2020 in Investments
  • a fresh lens offers more balanced insights

    Coverage of Chinese presence in Africa has been somewhat misleading. Shutterstock The most recent contribution to these debates is a book by a professor of sociology at the University of California, Los Angeles, Ching Kwan Lee. The book is based on Lee’s ethnographic study in the copper and construction industries in Zambia. It interrogates Chinese

    March 25, 2020 in Investments
  • Long-term gains exceed short-term shocks

    If time flies when you’re having fun, then the opposite must be true when times are tough. The past few weeks have certainly been gruelling, and the first quarter of 2020 will undoubtedly go down in the history books. Andrew Dittberner is the chief investment officer at Old Mutual Wealth Private Client Securities. We are

    March 24, 2020 in Investments
  • Economic impact of the Covid-19

    The past week has seen both local and global markets in turmoil. Amidst this recent market crash, investors are understandably jittery given the recent market crashes and the fact that the economic impact of the Covid-19 pandemic is not yet fully understood. Andrew Duvenage, MD, NFB Wealth Management However, while the recent market price action

    March 24, 2020 in Investments
  • How the lockdown will affect SA real estate, economy

    Welcoming President Cyril Ramaphosa’s decision to place South Africa in full lockdown in order to contain the spread of Covid-19, Adrian Goslett, regional director and CEO of RE/MAX of Southern Africa, has also recognised the strain this lockdown will put on businesses and the greater economy. “I commend the president for taking such a proactive

    March 24, 2020 in Property & Real Estate
  • SA footwear brand Olympic International to manufacture Vibram soles

    South African footwear brand Olympic International will this year become the first local manufacturer of Vibram outsoles, which are known for their excellent traction. Olympic International falls under the Bolton Footwear umbrella, and was originally inspired by South Africa’s two biggest sports, football and rugby. The brand has since expanded into various other sporting disciplines.

    March 24, 2020 in Manufacturing
  • Protecting yourself against a loss of future income in a recession

    With low GDP growth, credit ratings downgrades and the Covid-19 pandemic, our economy has taken a knock, leaving many investors’ reluctant to save and invest. Gerhard Visser, Alexander Forbes Financial Planning Consultants This hesitance is understandable, especially when one sees the daily drop in your actual investment values, and many investors might be looking at

    March 23, 2020 in Investments
  • Covid-19 unlikely to derail residential property market in long term

    The question around the Covid-19 pandemic’s impact on the property market is an important one, as the real estate market is keenly affected by the overall health of the economy, consumer confidence, and levels of employment in particular, which means that major disruptions in other sectors will have at least some impact on the property

    March 23, 2020 in Property & Real Estate
  • Should lenders take the knock during Covid-19?

    Mass hysteria has set in and it will have a profound effect on the economy in the second and third quarter of this year. John Jack, CEO of Galetti Corporate Real Estate As consumers flock to the shops and prepare for the worst, John Jack, CEO of Galetti Corporate Real Estate says that financial relief

    March 23, 2020 in Property & Real Estate
  • The global cognitive distortion of panic and #Covid-19

    Where did all the toilet paper go? Snapshots of empty store shelves, low levels of storable staples like rice and noodles and city-states raising emergency levels has served to escalate panic-buying and even shop-raiding in some parts of the world. In places like Hong Kong, goods like toilet paper have become scarce enough (valuable enough)

    March 18, 2020 in Investments
  • Society’s most vulnerable will be hit as Covid-19 cases rise in poorer economies

    A vendor distributes newspapers wearing a face mask as a preventive measure against the spread of the Covid-19 coronavirus in Nairobi, Kenya. Simon Maina/AFP via Getty Images The economic impacts have dramatic effects on the well-being of families and communities. For vulnerable families, lost income due to an outbreak can translate to spikes in poverty,

    March 17, 2020 in Investments
  • 6 tips to go from renting to buying

    While many still opt for renting, it is a buyers’ market and our current economic climate certainly lends itself to investors – particularly first-time investors. “Picking up property in prime areas at reduced rates has never been more attainable. When factoring in the savings associated with transfer duties, relief in terms of personal income and

    March 17, 2020 in Property & Real Estate
  • Bahrain’s Gulf Air to reduce flights after first virus death

    Only flights to Abu Dhabi, Dubai, Muscat, London, Paris, Frankfurt, Istanbul, Cairo, Mumbai, Delhi, Cochin, Karachi and Manila will operate from Wednesday Gulf Air, the national carrier of Bahrain, on Monday announced plans to temporarily suspend flights to and from several destinations across its network effective from early Wednesday until the end of the month.

    March 16, 2020 in Business News
  • Want a tax break? Invest in property

    As we enter the new financial year, it’s time to start thinking about tax savings – or strictly speaking, what deductions one can legitimately claim. Gerhard Kotzé, MD of the RealNet And in that regard, one of the best investments to have is a rental property, says Gerhard Kotzé, MD of the RealNet estate agency

    March 16, 2020 in Property & Real Estate
  • Why you should consider an investment property in Scotland

    Lisa Bathurst, independent property expert and founder of Hurst & Wills, reveals why Scotland is one of the best countries to purchase an investment property. Image supplied With house prices on the rise, a thriving economy, good infrastructure and a housing shortage, Scotland is a great place to consider buying an investment property. “Scotland currently

    March 16, 2020 in Property & Real Estate
  • For property investors it remains a buyers’ market

    Lightstone Property recently released their Residential Property Indices for March 2020. This is based on analysis of data from official sources such as the Deeds Office registry and Surveyor General regarding residential property transfers to mine data pertaining to properties that have “repeatedly transacted in a certain time period and are less influenced by the

    March 13, 2020 in Property & Real Estate
  • Governments should always assess the impact of economic reforms on citizens

    Eskom and other state owned companies have become a huge burden on the government purse. Shutterstock South Africa desperately needs to reform its economy. Its capacity to deal with its tragic problems of unemployment, poverty and inequality is diminishing. State owned enterprises like the power utility Eskom, public transport group Prasa and South Africa Airways,

    March 12, 2020 in Investments
  • Alpla to consolidate manufacturing in Gauteng with new plant

    Austrian packaging manufacturer Alpla Group is building a new factory in Lanseria near Johannesburg, which will bundles activities from five existing plants. Lanseria production plant rendering Construction on the new plant in Lanseria started in February 2020, with completion of the building scheduled for 2021. As part of a consolidation, the production of five existing

    March 11, 2020 in Manufacturing
  • How will growth play out in a #Covid-19 & load shedding world?

    The year has barely commenced and GDP growth forecasts are being revised lower. Why is growth weakening? Arthur Kamp, chief economist, Sanlam Investments Load shedding dims SA growth Electricity load shedding, which hit SA GDP in the last quarter of 2019, triggering a recession, is usually one of the first culprits identified, although the modest

    March 11, 2020 in Investments
  • If at first you don’t succeed…

    Virgin founder and ground-breaking entrepreneur, Richard Branson, didn’t finish high school. Bill Gates dropped out of university to found Microsoft. JK Rowling was living on government benefits when she wrote her first Harry Potter novel. She also had 12 rejections from publishers before her first book was published. Daniel Kibel In most cases, the world’s

    March 9, 2020 in Investments
  • Coronavirus affects 2020 investment outlook

    Besides the obvious impact on world health, the coronavirus outbreak is also having a notable effect on economic growth, and causing the fireworks in markets. George Herman, director and chief investment officer, Citadel From sitting at record highs, global markets sold off aggressively during the last week of February, with most equity markets dropping around

    March 9, 2020 in Investments
  • SAIBPP calls for clarity on mandate of new state bank

    The South African Institute of Black Property Practitioners (SAIBPP) applauds minister of finance Tito Mboweni and the National Treasury team for delivering a sober budget which acknowledges many of the pressing economic challenges and pressures faced by taxpayers and citizens alike while acknowledging the need for long-term financial planning. Tholo Makhaola, president of the South

  • Assistance system for data-based assembly of terminal strips

    Assistance system supports assembly technicians as they handle parts and carry out assembly tasks The Mount Assist assistance system from Phoenix Contact’s ClipX product family incorporates pick-by-light technology, which enables technicians to concentrate on added-value activities without imposing restrictions on their work process. In this way, the system supports assembly technicians as they handle parts

    March 6, 2020 in Business News
  • Mourning period for late Sultan Qaboos comes to an end in Oman

    40-day period ordered on January 11 following death of His Majesty Sultan Qaboos bin Said bin Taimour The 40-day period of mourning following the death of His Majesty Sultan Qaboos bin Said bin Taimour will be brought to a conclusion on Wednesday. The Diwan of Royal Court ordered the period of mourning after Sultan Qaboos

    March 5, 2020 in Business News
  • Knight Frank launches 2020 Wealth Report revealing PIRI 100

    Highlights from the index include: Cities dominate the fastest risers in Knight Frank’s PIRI 100, as opposed to second home markets. European and Asian cities dominate the top 10 best performing locations. In Europe, Frankfurt (10.3%), Lisbon (9.6%), Athens (7.0%) and Berlin (6.5%). In Asia, Seoul (8.9%), Taipei (7.6%), Manila (6.5%) and Guangzhou (6.3%). The

  • Standard Bank issues green bond via IFC

    Standard Bank has issued its first green bond, a 10-year facility with the express purposes of raising capital for use in on-lending by Standard Bank Group’s (SBG) Sustainable Finance Business Unit. Issued via private placement with IFC, a development finance institution focused on the private sector, part of the World Bank Group, the $200m, London

    March 5, 2020 in Investments
  • DMCC’s first super tall tower set for early 2022 completion

    81-storey Uptown Tower will feature 188 hotel rooms, restaurants, health spas, conference facilities, offices and 229 branded residences The first super tall tower in Dubai Multi Commodities Centre (DMCC) is on schedule for completion in early 2022, it has been announced. DMCC, master developer of Jumeirah Lakes Towers (JLT), said that its Uptown Tower project

    March 4, 2020 in Business News
  • Innovation drives M&A deals in uncertain times

    While macroeconomic factors such as continued political turbulence and widespread fiscal uncertainty have undeniably impacted dealmaking across the globe, deal flow has by no means come to a halt. Rather, the challenging commercial environment has served as a catalyst for innovation, resulting in an evolution of dealmaking that requires greater agility and flexibility than ever

    March 4, 2020 in Investments
  • Looking to buy property? It’s a good time to borrow

    South Africa is currently in what is termed a ‘buyers’ market’, with more supply of properties than demand from buyers. In the last five years, properties have often stayed in the market longer than average and asking prices have remained the same or decreased. On the other hand, borrowers are in a strong position, thanks

  • To be sold: Amanzingwe Lodge

    Amanzingwe: Lodge, restaurant, conference centre, wedding chapels and spa. 49.5 hectares, 48 rooms, two chapels and much more. To be sold by appointed liquidators to the highest suitable bidder as a going concern. Sale will be without encumbrance, except for the transfer of staff. Expression of interest to be e-mailed to az.oc.noixartssenisub@erdna by close of

  • Consortium of India’s Enso Group, Russian fund emerges as new suitor for Jet Airways

    SBI-led creditors committee to the grounded carrier extends the deadline for bid submission to March 10 to accommodate new bidders A new consortium of Mumbai-based Enso Group and Far East Asia Development Fund (FADF) of Russia is understood to have shown interest in bidding for Jet Airways, leading to grant of yet another extension to

    March 4, 2020 in Business News
  • ToTok Google Play | ToTok Apple Store | Free Audio Video Calling in Dubai UAE: ToTok disappears again from Google Play and Apple app stores

    Popular VoIP app was taken off both platforms in December but reinstated the following month ToTok, the popular VoIP app, has once again been removed from the Google Play and Apple App stores. The app – which allows users to make video and voice calls – was taken down from both portals in December last

    March 3, 2020 in Business News
  • Dubai Cultiv8 invests in UAE-based legal technology firm

    Among Code Engine Software’s products are CasEngine, a bilingual product designed to help law firms and in-house legal teams collaborate efficiently UAE-based LegalTech firm Code Engines Software has attracted investment from Dubai Cultiv8 through its $100m technology fund, it has been announced. The size of the investment was not disclosed. Dedicated to investing in financial

    March 3, 2020 in Business News
  • Coronavirus factory closures in China may swell demand for SA-made products

    Albert Louw, Lasher Tools marketing manager, says that the company has gained new business as a consequence of the outbreak of coronavirus in China and the closure of manufacturing in the country in an attempt to stem the spread of the deadly virus. Albert Louw World’s largest manufacturing economy halted “For the first time, a

    March 2, 2020 in Manufacturing
  • Trump raises doubts over India trade deal ahead of visit

    Trump last year kicked India out of a programme for developing countries that gave some Indian exports tariff-free access to the US market President Donald Trump cast doubts over the likelihood of an anticipated trade deal with India on Tuesday, just days before a scheduled visit to the South Asian power. ”Well, we can have

    March 2, 2020 in Business News
  • Windhoek-based Caterserve goes off-grid

    Namibian food manufacturer Caterserve, which produces over 1,000 bottles of tomato sauce and mayonnaise daily, has installed a 200kW battery-solar off-grid system, allowing the manufacturer to go completely off-grid. Caterserve now runs 100% off solar power 24 hours a day and has been able to increase its production capacity. The installation was completed by SolarSaver,

    March 2, 2020 in Manufacturing
  • Dubai property continues to offer among best yields in world, says Savills

    Dubai’s gross residential yields behind only Los Angeles, Moscow and Cape Town, according to latest Savills report Despite prime residential rents in Dubai falling by five percent last year, the emirate offers up some of the best yields in the world, according to the latest Savills Prime Index” World Cities report. Dubai and Kuala Lumpur

    March 1, 2020 in Business News
  • Total IT spending in Saudi Arabia forecast to hit $37bn in 2020

    International Data Corporation says Saudi IT market is ‘grappling with a wave of new digital transformation realities’ Total spending on information and communication technology (ICT) in Saudi Arabia is set to reach $37 billion this year, up 2.4 percent on 2019. That’s according to the latest forecasts by International Data Corporation (IDC) as it hosted

    March 1, 2020 in Business News
  • Dubai banking major, Dubizzle aim to simplify used car buying

    Emirates NBD has launched Autoswap, a first-of-its-kind auto loan buyout product in partnership with Dubizzle Emirates NBD, Dubai’s biggest bank, has launched Autoswap, a first-of-its-kind auto loan buyout product that provides a hassle-free financing solution for individuals seeking to buy used cars. Launched in partnership with Dubizzle, the classifieds platform in the UAE, the Autoswap

    February 29, 2020 in Business News
  • French medical giant opens first GCC office in Dubai Science Park

    Sebia, the world’s leading provider of advanced medical equipment for in vitro diagnostic testing, has opened office in Dubai as part of global expansion Dubai Science Park (DSP) has welcomed Sebia, the world’s leading provider of advanced medical equipment for in vitro diagnostic testing, to its community. The opening of Sebia’s first office in the

    February 28, 2020 in Business News
  • Lightstone predicts positive turnaround of house price inflation in Q2 2020

    After the economic recession in 2008 house price inflation in the last decade showed lacklustre growth only peaking at 6.35% at the end of 2014. Fast forward to 2019 where house price inflation for the year ended just below 2%, and Lightstone’s low road scenario was forecasted at exactly 2%. According to Paul-Roux de Kock,

    February 28, 2020 in Property & Real Estate
  • Dubai firm says to recreate top UK school in China

    BBD Education will work as an adviser and project manager to set up a version of Scotland-based Gordonstoun in China A Dubai-based education consultancy has been tasked with recreating one of the UK’s most famous schools in China. BBD Education said it will work as an adviser and project manager to set up a version

    February 28, 2020 in Business News
  • Fuel loading begins at UAE’s first nuclear power plant

    Nawah Energy Company begins initial step in the process towards commencing operations of Barakah Unit 1 following receipt of licence Nawah Energy Company (Nawah), the subsidiary of the Emirates Nuclear Energy Corporation (ENEC) responsible for operating and maintaining the Barakah Nuclear Energy Plant, has started loading the first nuclear fuel assemblies. Following the receipt of

    February 27, 2020 in Business News
  • Adjustment in transfer duty threshold a welcome move

    Apart from the tax reprieve announced by finance minister Tito Mboweni in the National Budget, with no major tax increases and even personal income tax relief across the board, good news for the property market is the adjustment of the threshold for transfer duty with zero duty payable on property costing R1m or less. Dr

    February 27, 2020 in Property & Real Estate
  • Transfer duty, personal tax relief welcome news for property market

    The 2020 Budget Speech presented by minister of finance Tito Mboweni is broadly welcomed, in particular, the raising of the transfer duty threshold to R1m combined with the broader personal income tax relief for the property market. Image source: GovernmentZA/Flickr This should boost first-time buyers and the low to mid-market sector to about R1.8m which

    February 27, 2020 in Property & Real Estate
  • Tilal Al Ghaf townhouses sell out three weeks after Dubai launch

    Majid Al Futtaim says it has seen ‘exceptional demand’ for latest release of townhouses in Tilal Al Ghaf project Majid Al Futtaim has announces that its latest release of townhouses has sold out just three weeks after launch following exceptional demand among buyers eager to secure a property within its Tilal Al Ghaf community in

    February 27, 2020 in Business News
  • Jeddah set to see big retail expansion by 2024 as global brands move in

    CBRE report says Jeddah’s retail sector is benefitting from several new projects, adding 40,000 sq m of gross leasable area Jeddah’s retail sector is benefitting from several new projects and developments, adding approximately 40,000 sq m of gross leasable area (GLA) to the market, according to CBRE. CBRE’s H2 2019 Jeddah Market Snapshot said the

    February 26, 2020 in Business News
  • Dubai luxury supercar maker W Motors seeks funds to go electric

    W Motors hired investment bank Guggenheim Partners to help raise as much as $100m to back expansion and its push into electric vehicles The maker of a $3.4 million supercar that can hit speeds of almost 250 miles per hour has sensed the time is right to target a wider audience by going electric. Dubai-based

    February 25, 2020 in Business News
  • African countries aren’t getting as much as they should from foreign direct investment

    Economic growth is driven by a number of factors. These include foreign direct investment, national savings, household spending, fiscal and monetary policies. Since the late 1980s African governments have fully embraced foreign direct investment as a major driver of growth. There has been a slide in the levels of foreign direct investment in Africa. Wikimedia

    February 25, 2020 in Investments
  • African countries aren’t getting as much as they should from foreign direct investment

    Economic growth is driven by a number of factors. These include foreign direct investment, national savings, household spending, fiscal and monetary policies. Since the late 1980s African governments have fully embraced foreign direct investment as a major driver of growth. There has been a slide in the levels of foreign direct investment in Africa. Wikimedia

    February 25, 2020 in Investments
  • Is tourism the answer to Ethiopia’s job creation goal?

    With Ethiopia’s economy growing at a rate of 10.5% and 7.71%, in 2017 and 2018 respectively, it sets the Horn of Africa up for even further growth in the next decade, and government optimistic to create 20 million jobs over this period. In addition to the growing economy, Ethiopia has been leading tourism growth rates

    February 25, 2020 in Property & Real Estate
  • Is tourism the answer to Ethiopia’s job creation goal?

    With Ethiopia’s economy growing at a rate of 10.5% and 7.71%, in 2017 and 2018 respectively, it sets the Horn of Africa up for even further growth in the next decade, and government optimistic to create 20 million jobs over this period. In addition to the growing economy, Ethiopia has been leading tourism growth rates

    February 25, 2020 in Property & Real Estate
  • On its 100th birthday, Jungle Oats opens R208m mill in Cape Town

    Iconic South African brand Jungle Oats celebrates its 100th birthday this year. Remaining a firm fixture on the household breakfast rotation, the brand has just revealed a new mill in Cape Town and a refreshed communication strategy and packaging design. Jungle Oats is Tiger Brands’ first and oldest product. Its history dates back to 1920

    February 25, 2020 in Manufacturing
  • South African permission for ACWA Power plant expires, lawyers say

    Authorisation for the Khanyisa coal-fired plant lapsed on October 31 2018, which ACWA Power opposed in South Africa’s High Court ACWA Power has been informed by the South African government that its environmental authorisation to build a 306 megawatt coal-fired power plant in the country has expired, according to lawyers opposing the project. The authorisation

    February 25, 2020 in Business News
  • Abu Dhabi to issue $2.7bn tenders for infrastructure projects in PPP push

    Abu Dhabi Government announces intention to procure infrastructure projects this year under its public-private partnership model The Abu Dhabi Government announced on Wednesday its intention to procure approximately AED10 billion ($2.7 billion) of infrastructure projects this year under its public-private partnership (PPP) model in a range of sectors. The tenders are part of a initiative

    February 24, 2020 in Business News
  • Stalling property market needs economic relief

    The stalling property market is in dire need of economic relief. The 2016-2018 transfer duty and capital gains tax (CGT) hikes were never going to result in higher government revenue, quite the opposite as is now evident from the sales data. Samuel Seeff, chairman of the Seeff Property Group The hikes started in 2015 when

    February 24, 2020 in Property & Real Estate
  • City of Cape Town reiterates support for local clothing and textile sector

    The City of Cape Town says it is committed to supporting the local clothing and textile sector by providing grant funding to strategic business partners dedicated to the growth of the industry. Cape Town’s clothing and textile industry is the second largest employer within the local manufacturing sector, employing 24,330 individuals. It contributed R4,4 billion

    February 24, 2020 in Manufacturing
  • Of Divas and visas with Ravi Naidoo

    In fervent anticipation of Design Indaba 25 taking place this week from 26 to 28 February 2020, Biztakeouts found a window in the diary of CEO and founder Ravi Naidoo to discuss visas and venture capital, policy, projects and lessons learned on Design Indaba’s 25-year journey so far. While our region may not currently always

    February 24, 2020 in Venture Capital
  • Gold Prices/Rates in Dubai UAE and Around the Middle East: Price hike in gold to hit Middle East consumers

    Gold traded near the highest level since 2013 on concerns over the spread of the new coronavirus Customers looking to buy gold can expect to pay a higher premium, as a result of the continuing deadly coronavirus crisis. Gold traded near the highest level since 2013 on concerns over the spread of the new coronavirus

    February 23, 2020 in Business News
  • Not a coffee drinker? Here’s how to get your morning boost

    The world is divided on whether coffee is good for you, but more people are switching their espressos for alternatives The world is divided on whether coffee is good for you or not, but more people are switching their espressos for alternatives that will provide the energy boost without the jitters. Even if you’re a

    February 23, 2020 in Business News
  • UAE Central Bank cracks down on misuse of home loans

    CBUAE issues notice to lenders ‘to stop certain unacceptable practices’ involving mortgages The United Arab Emirates is cracking down on the misuse of home loans to prevent risky borrowing as an ongoing property slump weighs on banks. The central bank issued a notice to lenders “to stop certain unacceptable practices” involving mortgages, which enabled some

    February 22, 2020 in Business News
  • How Carson Block turned BR Shetty’s business world upside down

    Law firm Herbert Smith Freehills has launched a review of Shetty’s holdings at his request following a report by Block’s investment firm Muddy Waters Bavaguthu Raghuram Shetty was once a typical billionaire with a taste for the high-life. He splurged on a private jet, vintage cars and two entire floors of the Burj Khalifa, the

    February 21, 2020 in Business News
  • Dubai Police nabs gang after $5.5m jewellery robbery

    Police chief urges Dubai residents to upgrade security after saying victim did not secure his residence against thefts Dubai Police has apprehended a gang less than 48 hours after the robbery of AED20 million ($5.5 million) worth of jewellery from a European expat’s residence in the emirate. Major General Khalil Ibrahim Al Mansoori, Assistant Commander-in-Chief

    February 21, 2020 in Business News
  • Will load shedding reignite an asset exodus for South Africa?

    The twin threats of asset drain and of declining foreign direct investment (FDI) are increasing with the return of load shedding and ongoing governance issues at several of South Africa’s largest state-owned enterprises (SOEs), Both are potentially devastating to the local economy, especially if President Cyril Ramaphosa fails to implement much-needed reforms. Image source: Getty/Gallo

    February 21, 2020 in Investments
  • UEFA charges against Abu Dhabi’s Man City ‘simply not true’

    City Football Group CEO Ferran Soriano hopes appeal against European ban will be heard before start of next season’s Champions League Manchester City hope to have their appeal against a two-year ban from European football by UEFA heard by the Court of Arbitration before the start of next season’s Champions League, according to City Football

    February 20, 2020 in Business News
  • they’re paying too much for debt

    Ethiopia’s economic growth hovered between 8%-11% for over 10 years but its sovereign credit rating has not been upgraded Shutterstock African governments are issuing and listing their Eurobonds on established international debt markets – usually London and Irish Stock Exchanges. African governments would venture offshore a lot less if domestic bond markets were active and

    February 20, 2020 in Investments
  • Kuwait MPs launch probe into Airbus deal bribery claims

    Parliament’s decision came after a special debate on allegations that Airbus paid kickbacks to secure a 25-aircraft deal six years ago Kuwait’s parliament on Wednesday formed a fact-finding panel to probe alleged kickbacks in a deal between the national carrier and Airbus, which last month paid massive fines to settle bribery scandals. The parliament’s decision

    February 20, 2020 in Business News
  • 6 property development trends forecast for 2020

    2020 brings a fresh wave of design concepts and investor trends to the development industry. Creating concrete jungles that feature greenery, raw design trends and the rise of short-stay tenants in sought-after suburbs are some of the elements we will see in 2020. Jacques van Embden, MD, Blok We believe that what people are really

    February 18, 2020 in Property & Real Estate
  • Dubai’s Drake & Scull hits back at former CEO’s claims

    Contracting major says statement issued by Khaldoun Tabari ‘lacks credibility and is not supported by evidence’ Dubai-based Drake and Scull International on Monday hit back at claims from its former CEO Khaldoun Tabari that allegations of embezzlement and fraud were “unwarranted commercial claims and not criminal complaints”. The contracting major said his press statement published

    February 18, 2020 in Business News
  • Buyers, tenants maintain upper hand in Kenyan property market

    Image source: Gallo/Getty Prime retail rents – charged for line shops in the malls – had hitherto stagnated at $5.1/sq.ft./m. Tenants had the advantage in retail leasing owing to the continued oversupply of shopping mall spaces. In the commercial office market, grade A office rents remained unchanged at an average of $1.3/sq.ft./m in the second

    February 18, 2020 in Property & Real Estate
  • Ivanka Trump praises women-friendly reforms in Saudi Arabia, Bahrain

    Ivanka Trump warned against growing ‘complacent’ and said much work remains to be done in the MENA region and the wider world Saudi Arabia and Bahrain were among the countries singled out for praise by Ivanka Trump for their “significant reforms” that have helped women, although she said there is “much more work to be

    February 17, 2020 in Business News
  • 4 important steps for delivering an Industry 4.0 factory and supply chain

    Also referred to as the next industrial revolution, Industry 4.0 is synonymous with smart technologies such as artificial intelligence (AI), cloud computing, blockchain, the Internet of Things (IoT), and more. It is expected to drive efficiencies and increase competitiveness in the manufacturing industry via faster, more agile internal processes and supply chains. In Africa, several

    February 17, 2020 in Manufacturing
  • Nigeria’s growing appeal as a real estate investment destination

    As South Africa’s medium-term economic growth prospects become increasingly uncertain, many local and international property investors are finding it necessary to shift their focus elsewhere while they wait for stability and a clear growth path to be restored for the country. Image source: Gallo/Getty Possibly as a consequence of many investors still tarring all African

    February 17, 2020 in Property & Real Estate
  • Niche farming could pave the way for agricultural growth in SA

    In light of the critical role that agriculture plays in job creation and food security, targeted investment opportunities in the sector is crucial to ensuring increasing sustainability and productivity in the sector. Experts are of the opinion that South Africa has a chance to gain enormous advantages, especially if farmers were to focus on smaller

    February 17, 2020 in Manufacturing
  • #Sona20: 5 positives for property

    In the lead-up to Sona 2020, property experts were united in their hopes for the president’s address: clear leadership, a pragmatic outlook, and actionable plans to boost investor confidence. The speech held at least five positive elements for the property market. 1. Education and training The emphasis placed on young people, education and training was

    February 17, 2020 in Property & Real Estate
  • Oman sees prospects of talks between Iran and US

    ‘We are in touch with the US and Iran,’ said Yousef Bin Alawi, Oman’s foreign minister Oman is working to reduce tensions in the Gulf and sees prospects of talks between arch-rivals Iran and the US, its foreign minister said. “We are in touch with the US and Iran,” Yousef Bin Alawi, Oman’s foreign minister,

    February 16, 2020 in Business News
  • How the UAE plans to give more protection to bank customers

    Consultations start on plans to establish new financial consumer protection regulatory framework in the UAE The Central Bank of the UAE has launched a consultation process with key stakeholders, aimed at developing a new financial consumer protection regulatory framework. Officials said the framework will strengthen the protection of consumers in the UAE through more comprehensive

    February 16, 2020 in Business News
  • Investigation reveals cause of 2016 Emirates plane crash in Dubai

    General Civil Aviation Authority’s final report recommends enhanced training for pilots and air traffic controllers Emirates has been urged to enhance pilot training following an investigation into Flight EK521 which crashed at Dubai International Airport and caught fire in 2016. A final report by the General Civil Aviation Authority (GCAA) said the pilots failed to

    February 15, 2020 in Business News
  • Aster DM Healthcare granted approval for 100% ownership of its Dubai-based subsidiaries

    The stake holding of the India-listed Aster group in its UAE-subsidiaries was so far capped at 49 percent as per the local ownership rules Aster DM Healthcare has been granted approval by UAE government to hold 100 percent equity stake in its Dubai-based subsidiaries, the company has announced. The stake holding of the India-listed Aster

    February 15, 2020 in Business News
  • Saudi Arabia, Kuwait agree restart of shared oil field from Sunday

    Wafra has been shut since May 2015, due to a dispute over Saudi Arabia’s renewal of Chevron Corp’s concession there Saudi Arabia and Kuwait have authorised the restart of oil production at the Wafra field from Sunday, more than four years after they halted output at the shared deposit. The decision was announced in an

    February 14, 2020 in Business News
  • We’re talking in the right direction, but actions speak louder than words

    While it is hardly news that what is desperately needed in South Africa is economic growth and a dramatic increase in the employment rate, it was nevertheless reassuring to have President Cyril Rhamaphosa address these issues and flag them as a key priority in his State of the Nation address last night. Image source: GovernmentZA/Flickr

    February 14, 2020 in Property & Real Estate
  • Uniting the finance and business community to achieve the UN’s Sustainable Development Goals by 2030

    SAICA, in collaboration with One Young World (OYW) and Chartered Accountants Worldwide (CAW), launched Finance and Business (FinBiz) 2030 in Johannesburg, South Africa on 6 February 2020 at Investec. FinBiz2030 is an initiative to unite and mobilise the finance and business community to achieve the United Nations’ Sustainable Development Goals (SDGs) by 2030. Finance professionals

    February 14, 2020 in Investments
  • #Sona20 hits the pain points, but follow-through is vital

    Pieter Bensch, executive vice president, Africa & Middle East: Sage</span>President Cyril Ramaphosa delivered a sober assessment of the challenges the nation faces along with realistic proposals about how these problems may be addressed. Read more… | Send to a friend Source link

    February 14, 2020 in Investments
  • Landmark investment secured for 60MW Djibouti Wind Farm Project

    Supporting Djibouti’s target of transitioning to 100% renewable energy-based electricity production by 2030, Africa Finance Corporation (AFC), Climate Fund Managers (CFM), FMO – the Dutch entrepreneurial development bank, and Great Horn Investment Holdings (GHIH) recently announced a landmark investment for the construction and operation of a 60MW wind farm in the Ghoubet area, near Lake

    February 14, 2020 in Energy
  • DP World agrees deal to buy stake in Ukrainian port terminal

    DP World has agreed to acquire a majority 51% stake in TIS Container Terminal in the Port of Yuzhny Dubai-based DP World has agreed to acquire a majority 51 percent stake in TIS Container Terminal in the Port of Yuzhny, Ukraine, subject to regulatory approval. Bringing the TIS Container Terminal into DP World’s global network

    February 13, 2020 in Business News
  • Property is still a sound investment in SA, provided you take the right approach

    Image source: Gallo/Getty Many investors may feel they’re better off putting their money elsewhere, whether that’s equities, index funds, bonds, or any other vehicles. Provided they invest in the right property vehicles in the right areas, however, there are still real opportunities in the South African property space. Bucking the trend While residential prices may

    February 13, 2020 in Property & Real Estate
  • Are you ready to invest in offshore property?

    Here is a five-step checklist to get you started in investing in offshore property and some pitfalls to watch out for. Image source: Gallo/Getty 1. Strategy Determine your objectives and the best strategy to meet them. Are you looking for a property you’d eventually like to retire to, a property you’d like to visit regularly,

    February 13, 2020 in Property & Real Estate
  • South Africa in for another up-and-down year

    It’s fair to say this year got off to an eventful start, with the South African Reserve Bank (Sarb) unexpectedly cutting the repo rate by 25 basis points to 6.25%, while lowering 2020 economic growth projections down from 1.4% to 1.2%. Image source: Getty/Gallo Of the opinion that this revised growth estimate may still be

    February 13, 2020 in Investments
  • Dubai telecoms giant posts 9% rise in 2019 profit to $470m

    Emirates Integrated Telecommunications Company chairman hails ‘strong results’ in ‘challenging environment’ Emirates Integrated Telecommunications Company, parent of telco Du, on Tuesday reported a 9.3 percent in its annual net profit for 2019 to AED1.73 billion ($470 million). The telecoms operator also announced an acceleration in the deployment of its investment plan, particularly in connection with

    February 12, 2020 in Business News
  • AfDB provides multi-million-dollar grant to boost renewable energy access in Liberia

    The African Development Fund (AfDB) has approved a $34.74m grant and loan to boost renewable energy access and promote an attractive investment climate in Liberia. At a signing ceremony in Monrovia earlier this year, AfDB Liberia country manager Dr Orison Amu, and Liberia minister of finance and development planning Samuel Tweah Jr signed financing agreements

    February 12, 2020 in Energy
  • Kuwait’s Jazeera Airways soars to best-ever annual profit

    Airline says net profit jumps by 124% in 2019 on the back of a surge in passenger numbers Kuwait-based Jazeera Airways on Tuesday announced an annual net profit of KD14.9 million ($48.9 million), up 124.1 percent compared to the previous year, supported by a surge in passenger numbers. The airline reported a 20.6 percent increase

    February 11, 2020 in Business News
  • SA’s Furniture Industry Master Plan roadshow concludes

    The South African Furniture Initiative (SAFI) and the Department of Trade and Industry (dti) last week completed their consultative roadshow in Port Elizabeth, after meeting furniture manufacturers across South Africa in preparation for its Furniture Industry Master Plan (FIMP). Getty The roadshow travelled from the Western Cape to Gauteng, Mpumalanga, KwaZulu-Natal and the Eastern Cape

    February 11, 2020 in Manufacturing
  • Don’t underestimate the value of an experienced financial partner

    While the risks are high, Africa currently offers a very compelling mining proposition with a number of excellent prospects in many parts of the continent. These include a very strong growth story in West Africa at the moment, and solid momentum building in the East African corridor, particularly in Kenya, Tanzania, into Ethiopia and even

    February 10, 2020 in Investments
  • Don’t underestimate the value of an experienced financial partner

    While the risks are high, Africa currently offers a very compelling mining proposition with a number of excellent prospects in many parts of the continent. These include a very strong growth story in West Africa at the moment, and solid momentum building in the East African corridor, particularly in Kenya, Tanzania, into Ethiopia and even

    February 10, 2020 in Investments
  • Franc believes investing is for everyone

    If you think that investing is only for the rich, you’re absolutely wrong. Franc was born in 2018 when an engineer, an actuary, an investment guru and a tech whizz shared a common idea of making investing affordable, accessible and social. We chat to Dr Thomas Brennan, CEO and co-founder of Franc, to find out

    February 10, 2020 in Investments
  • Directors not liable to shareholders for decrease in share value

    In a recent hearing before the Gauteng High Court, Hlumisa Investment Holdings RF Ltd v Kirkinis 2019, the minority shareholders of a holding company attempted to use provisions of the Companies Act, No. 71 of 2008 (the Act) to claim damages from the directors of the company for the reduction in value of their shares.

    February 10, 2020 in Investments
  • Tips for reducing vacancies in your property portfolio

    Tough economic times like the downward cycle we are in now calls for a new and fresh approach to ensure you are not sitting with costly vacancies. We are seeing a rise in vacancies linked with a rate correction and a downward push in rentals across our client portfolios. This is now affecting our clients

    February 10, 2020 in Property & Real Estate
  • Just warming up: Masdar CEO Mohamed Jameel Al Ramahi

    Mohamed Jameel Al Ramahi is CEO of Abu Dhabi-based energy giant Masdar, which is leading the way in trying to head off a possible climate change catastrophe, but he tells Arabian Business that he’s just getting started When it comes to saving the planet, Mohamed Jameel Al Ramahi has made it his business to play

    February 10, 2020 in Business News
  • Many men still consider women too ’emotional’ for board roles, says Sara Al Madani

    While Emirati serial entrepreneur Sara Al Madani said that attitudes are changing, finance in particular remains a ‘man’s world’ There is still a shortage of women on the boards of companies, largely as a result of an assumption that they are too “emotional” for the role, particularly in the finance sector, according to Emirati serial

    February 9, 2020 in Business News
  • New cruise liner jetty to be built at Abu Dhabi’s Sir Bani Yas island

    $27m project will allow two vessels to dock at any given time and provide up to 5,000 passengers with direct access to island Abu Dhabi Ports announced on Saturday plans to design and construct a new cruise jetty at Sir Bani Yas Cruise Beach, off the coast of Abu Dhabi. The AED100 million ($27 million)

    February 8, 2020 in Business News
  • Size of MENA’s PR industry to double to $2bn by 2030, says Sunil John

    Founder of Dubai-based ASDA’A BCW says growth will be driven by the expansion of global brands that emerge from region The PR industry in the Middle East and North Africa (MENA) is set to double in value to $2 billion by 2030, according to a leading Dubai-based expert. Speaking at the PRovoke MENA Summit 2020,

    February 8, 2020 in Business News
  • Uber narrows losses in Q4 as revenue soars by 41%

    Uber beat earnings targets consistently last year, with the help of spending discipline Uber shares revved higher Thursday as the global ride-hailing giant’s quarterly update showed it moving on a path to profitability faster than expected. The San Francisco-based company still lost $1.1 billion on revenue that increased 41 percent to $3.7 billion when compared

    February 7, 2020 in Business News
  • Euphonik shares insights from his property investment journey

    Not just a musical maestro, DJ Euphonik aka Themba Mbongeni Nkosi is a savvy property investor with an impressive property portfolio and a passionate advocate for property as an accessible investment with exponential growth potential. Nkosi shared insights and learnings from his own property journey with us. Euphonik aka Themba Mbongeni Nkosi. Image source: Facebook

    February 7, 2020 in Property & Real Estate
  • Sharing isn’t just caring – it’s also impacting the property market

    The sharing economy and its cousin the caring economy already have deep cultural roots across South Africa. The practice of extended families sharing a property and relatives assisting in the purchase of property, while not new, look set to enjoy a resurgence as local market conditions mix with fast-growing global trends. Image source: Gallo/Getty The

    February 7, 2020 in Property & Real Estate
  • Gold(en) opportunities in West Africa

    West Africa still holds a certain lustre among gold miners, although they are cautious about the regulatory and security risks. In a panel discussion at Investing in African Mining Indaba 2020, David Awram (DA) senior executive vice president, Sandstorm Gold, John Welborn (JW), CEO, Resolute Mining, Peter Ruxton (PR), principal, Tembo Capital and Cathleen Cox

    February 6, 2020 in Investments
  • Gold(en) opportunities in West Africa

    West Africa still holds a certain lustre among gold miners, although they are cautious about the regulatory and security risks. In a panel discussion at Investing in African Mining Indaba 2020, David Awram (DA) senior executive vice president, Sandstorm Gold, John Welborn (JW), CEO, Resolute Mining, Peter Ruxton (PR), principal, Tembo Capital and Cathleen Cox

    February 6, 2020 in Investments
  • Togo breaks ground on West Africa’s largest solar PV project

    Togo broke ground on its 50MW Mohamed Bin Zayed Photovoltaic Solar Power Complex in Blitta this month. The project supports the country’s ambitions to increase its rural electrification rate to 50% by 2022, and 100% by 2030. Image source: AMEA Power It was launched in the presence of the president of Togo Faure E. Gnassingbe

    February 6, 2020 in Energy
  • Barry Callebaut invests in dairy-free chocolate production

    Cocoa processor and chocolate manufacturer Barry Callebaut is investing in dairy-free product development and production facilities to cater to the demand for plant-based products. The company has created a 100% dairy-free chocolate, called M_lk Chocolate, which it says mimics the typical creamy milk chocolate flavour and texture. The innovation is part of its new ‘Plant

    February 5, 2020 in Manufacturing
  • CT ranks 11th on Savills World Cities Prime Residential Index

    Across the 27 cities in the Savills World Cities Prime Residential Index, capital values in 2020 are forecast to grow by 1.8% on average, says Dr Andrew Golding, chief executive of the Pam Golding Property group, which is in association with Savills. Image supplied “This metric is reported in an update to Savills’ Impacts research

    February 5, 2020 in Property & Real Estate
  • Learn how to invest in early-stage startups

    The Western Cape has a vibrant startup environment, but with that comes the risks and rewards of investing in early-stage startups. To encourage more South Africans to consider investing in early-stage startups, the Department of Economic Development and Tourism (DEDAT) has launched an early-stage startup investment online course in February 2020. The DEDAT ‘Introduction to

    February 5, 2020 in Investments
  • Local property investors urged not to lose hope

    The South African economy is performing poorly and has been for some time now, but Adrian Goslett, regional director and CEO of RE/MAX of Southern Africa, is urging South Africans not allow their confidence in the local property market to be shaken by these tough economic times. According to Stats SA, real gross domestic product

    February 4, 2020 in Property & Real Estate
  • Mattel launches building sets made from bio-based plastic

    Toy manufacturer Mattel is launching a series of bio-based plastic products under its construction toy brand, Mega. Mega Bloks, will now feature three preschool building sets – Polar Friends, Safari Friends and Woodland Friends – derived from bio-based resins. The building sets have Forest Stewardship Council (FSC)-certified packaging that is fully recyclable. The Mega announcement

    February 3, 2020 in Manufacturing
  • The Joekels journey: 25 years in tea

    In 25 years, South African tea company Joekels has developed from a small business housed in a garage into a category leader with seven different tea brands. Joekels Tea Packers was founded in 1994 by Joe Swart and Jonathan Kelsey. Back then, the company comprised just five staff members and one brand, Phendula Tips. Within

    February 3, 2020 in Manufacturing
  • Can capitalism solve capitalism’s problems?

    Capitalism is in trouble – at least judging by recent polls. A session at Davos highlighted the consequences of capitalism. Fabrice Coffrini/AFP via Getty Images A majority of American millennials reject the economic system, while 55% of women age 18 to 54 say they prefer socialism. More Democrats now have a positive view of socialism

    February 3, 2020 in Investments
  • Brexit: here’s what happens next

    This is just the beginning of the story. PA/Gareth Fuller The fundamental reason for this is that while the UK has left the EU, it has not yet established a new relationship. This year is a transition period, during which not much changes. The UK will no longer be a member of the European Union

    January 31, 2020 in Investments
  • SA family-owned Xmas cracker business inks Walmart export deal

    Glenart, a South African Christmas cracker manufacturing company, has secured an export deal with American retail giant Walmart. The agreement will see the local business directly supplying their confetti-popping crackers to 800 Walmart stores in the US. Massmart, which is majority-owned by Walmart, is the owner of retail brands including Game, Makro, DionWired and Builders

    January 30, 2020 in Manufacturing
  • Rentvesting to become a reality in SA property market

    They call it rentvesting, a label coined by millennials as they find disruptive ways to climb the property ladder. It is well known that this generation demands convenience, instant purchases, and being able to have access to what they want when they want it. The same is starting to apply in property where the market

    January 30, 2020 in Property & Real Estate
  • Tiger Brands CEO Lawrence Mac Dougall to retire, Noel Doyle appointed

    Tiger Brands chief executive officer Lawrence Mac Dougall will be retiring on 31 January, SA’s largest food and beverage group announced on Wednesday. Lawrence Mac Dougall The company’s current chief financial officer, Noel Doyle, has been appointed to the CEO role, with effect from 1 February 2020. Mac Dougall has been at the helm of

    January 30, 2020 in Manufacturing
  • Fear spreads easily. That’s what gives the Wuhan coronavirus economic impact

    One way to count the cost of the Wuhan coronavirus is by how many people catch it, and then how many die. Another is the direct financial costs of public health measures to treat those infected and contain its spread. Image source: Getty/Gallo Yet another is the wider economic cost. But how to calculate this?

    January 30, 2020 in Investments
  • Fear spreads easily. That’s what gives the Wuhan coronavirus economic impact

    One way to count the cost of the Wuhan coronavirus is by how many people catch it, and then how many die. Another is the direct financial costs of public health measures to treat those infected and contain its spread. Image source: Getty/Gallo Yet another is the wider economic cost. But how to calculate this?

    January 30, 2020 in Investments
  • $50m Standard Bank funding to boost CCBA Ethiopia expansion

    Standard Bank has arranged and structured $50m in financing facilities for Coca-Cola Beverages Africa (CCBA) to support its expansion strategy in Ethiopia over the next five years. The Coca-Cola Company holds a majority stake in CCBA, which is the largest bottler of Coca-Cola beverages in Africa – serving 13 countries on the continent – and

    January 29, 2020 in Investments
  • New cannery ramps up production of Clark & Sons mixers

    South African soft drinks company Twizza has commissioned a state-of-the-art production canning line in Queenstown to can its popular Clark & Sons mixer range. “We’re really excited to announce that the canning line, our very first one, is up and running and in full operation,” says Ken Clark, who founded Twizza in 2003. Beginning as

    January 28, 2020 in Manufacturing
  • How CEOs, experts and philosophers see the world’s biggest risks differently

    Activist Greta Thunberg was among attendees who want the world’s leaders to prioritise fighting climate change.AP Photo/Michael Probst But in order to adequately address them, we need agreement on which are priorities – and which aren’t. As it happens, the policymakers and business leaders who largely determine which risks become global priorities spent a week

    January 28, 2020 in Investments
  • Collaborative consumption – an emerging property trend for 2020 and beyond

    The real estate industry is going through significant change for the first time in my 20-year history in this business. And it is technology-driven. I expect that more and more, players in our industry will adapt their business models to ensure that they stay relevant in times to come. And this includes the developers, who

    January 27, 2020 in Property & Real Estate
  • Coronavirus does not look like a ‘black swan’ event

    China in lockdown. EPA Markets steadied and rose a little on January 24 as investors appeared to suspect that the fears were being overdone, but the situation remains on a knife edge. The worry is that this could be a black swan event, one that is so unpredictable and grave that it can bring about

    January 27, 2020 in Investments
  • The rising tide of the silver economy

    Whilst we may not yet have discovered the long-coveted elixir of eternal youth, the truth is that humans are now getting older than ever before; we are living longer, leading more active lives and, as a result, the 60-plus age group is far more independent than their predecessors. The Booming Boomers: It’s forecast that by

    January 27, 2020 in Property & Real Estate
  • LG South Africa unveils newly-relocated head office, factory

    LG South Africa recently unveiled its new relocated head office – which now includes a new LG brand shop on the same premises – in Midrand, Johannesburg. The South Korean multinational electronics company has also relocated its factory from Germiston to Durban – which it will unveil today. SA optimism President of LG MEA James

    January 24, 2020 in Manufacturing
  • UK-Africa trade and investment: who benefits?

    British Prime Minister Boris Johnson (centre) with a host of African leaders at the UK Africa Investment Summit in London. EPA-EFE/Hollie Adams At the summit, Ghana, it seems, is being given top treatment as a favoured destination, while Zimbabwe appears to have been snubbed despite being “open for business”. UK aid policy these days is

    January 24, 2020 in Investments
  • SDGs create investment opportunities in Africa

    There is a $197bn opportunity for private-sector investors in five high-growth markets in Africa to help achieve the United Nations Sustainable Development Goals (SDGs), with improving digital access making up $74.5bn of that total. Image source: Getty/Gallo Opportunity2030: The Standard Chartered SDG Investment Map reveals that invesors can contribute to three infrastructure-focused goals between now

    January 24, 2020 in Investments
  • Madison to acquire 46.5% equity stake in Redefine’s Polish logistics platform

    Expected to be finalised by the end of February, Madison International Realty is acquiring a 46.5% equity stake in JSE-listed Redefine Properties’ Polish logistics platform held through European Logistics Investment (ELI). As part of the transaction, Griffin Real Estate, which own 5% in ELI, will acquire a further 2% from Redefine on the same terms

    January 23, 2020 in Property & Real Estate
  • Fiscal credibility, economic reform and investment drive

    With a marginally supportive global outlook, we would have expected South Africa’s economic growth to pick up. However, domestic constraints remain binding. Electricity shortages, a weak consumer demand, and a constrained fiscus all contribute to weak economic growth outlook of about 1.0% this year and 1.5% in 2021. Isaah Mhlanga is chief economist of Alexander

    January 23, 2020 in Investments
  • Property is still a sound investment in SA, provided you take the right approach

    Many investors may feel they’re better off putting their money elsewhere, whether that’s equities, index funds, bonds, or any other vehicles. Provided they invest in the right property vehicles in the right areas, however, there are still real opportunities in the South African property space. Bucking the trend While residential prices may be down overall,

    January 23, 2020 in Property & Real Estate
  • New report highlights thriving data centre market in SA, Sub-Saharan Africa

    Image source: Gallo/Getty The research analyses input costs – including labour and materials – across 32 key markets, alongside industry sentiment and insight from data centre professionals. Hotspots in Africa The 2019 report points to the rise of new hotspots across the globe as technological investment in emerging economies takes hold. On the African continent,

    January 23, 2020 in Property & Real Estate
  • #BehindtheSelfie with… Atisha Gopichund, techno marketing director at Saint-Gobain

    This week, we go behind the selfie with Atisha Gopichund-Lutchman, techno marketing director at Saint-Gobain sub-Saharan Africa. Gopichund captions her #BehindtheSelfie feature as follows: ”What I love about my job is that we can innovate and introduce new products and technologies that improve daily life.” 1. Where do you live, work and play? I was

    January 22, 2020 in Manufacturing
  • Impact of free trade area in Africa will be huge

    Member States of the African Union (AU) have a combined population of over 1.2 billion people and gross domestic product of more than $3.4 trillion – yet the continent accounts for less than 3% of world trade. Within this, intra African trade accounts for only 15% of the continent’s total trade. The African Continental Free

    January 21, 2020 in Investments