Aman had wanted to exit the insurance space and recast itself as an investment holding company. It’s these plans that might have to be put on hold unless the company comes up…
Tag: hit
Expat remittances hit 2-year high in Saudi Arabia
Compared to the remittances registered last June, the July transfers also showed an increase of SR849 million or a 7% rise. Moreover, the foreigners’ transfers in July were the highest since June…
Global stocks take a hit as investors dump risk assets
New York: Following an overnight sell-off seen in several markets, a global flight from risk assets continued yesterday on exasperated fears about the US economy and a retreat from Big Tech stocks…
Housing takes up biggest share of Saudi Arabia's construction contracts – and could hit $60b
“We are currently witnessing a historical transformation unfolding in Saudi Arabia with construction projects standing out in their design scale and value,” said Mohamed Nabil – Regional Partner, Head of Project &…
Sharjah's existing 3-year rent freeze rule proves big hit with tenants seeking relocations
As for new tenants, their biggest plus is the 3-year rental freeze that kicks in when they sign the contract. That lock on their rental outgo has spurred demand for relocations ahead…
Canada housing starts to hit highest level in seven months
Ontario and Quebec “- the country’s most populous provinces “- led the increase in starts, rising 18 per cent and 67 per cent respectively. Housing starts fell 16 per cent in British Columbia, Canada’s westernmost…
Middle East passenger numbers 'will double to hit 530 million in 2043', IATA official says
Dubai: Middle East passenger numbers are expected to double and hit 530 million in 2043, an International Air Transport Association (IATA) official told media on Sunday ahead of its annual general meeting…
UAE car owners get hit with 20-50% insurance premium hikes – and even removal of agency repairs
For dealerships, having their customers bring back their vehicles for service and repair even after the standard 3- to 5-year warranty periods represent a significant income generation. If insurers now are insisting…
Boeing hit by damning FAA report faulting safety procedures
Washington: US regulators issued a scathing assessment of Boeing Co.’s safety culture, putting further pressure on the company as it contends with the fallout from a near-catastrophic accident at the start of…
Baker Tilly Middle East hit with $50,000 fine by ADGM for 'serious failings' in 2 audit works
The ADGM’s Registration Authority noted that the work done led to non-compliance with its ‘relevant’ requirements. These require ADGM-licensed auditors to ‘conduct audits and prepare audit reports in accordance with relevant professional standards, applicable…