Global stock markets are recording their worst week since the world financial crisis of 2008.
It comes as fears over the impact of the coronavirus continue to grip investors.
This morning, February 28, markets in Europe fell sharply with London's FTSE 100 index dropping over 3%.
Asian markets suffered too, while in the US, the Dow Jones recorded its biggest daily points drop on Thursday.
Investors are concerned that the COVID-19 virus' impact could spark a worldwide recession.
Dubai Aerospace Enterprise records $1.4b revenue in 2024
Aircraft leasing company Dubai Aerospace Enterprise (DAE) recorded a 9 per cent growth in revenue, reaching $1.42 billion by the end of 2024, compared to $1.31 billion in 2023.
Nissan set to step back from merger with Honda
Nissan looks set to step back from merger talks with rival Honda, two sources said on Wednesday, calling into question a $60 billion tie-up to create the world's no.3 automaker and potentially leaving Nissan to drive its turnaround alone.
CBUAE, Economic Security Centre sign deal on combatting financial crime
The Central Bank of the UAE (CBUAE) and the Economic Security Centre of Dubai signed a Memorandum of Understanding (MoU) to strengthen cooperation in combating financial crime.
UAE, Argentina explore new investment opportunities
The Argentine Minister of Foreign Affairs and International Trade, Gerardo Werthein, met with Emirati officials from the Ministry of Economy to increase bilateral trade.
FTA calls on registrants to benefit from grace period
The Federal Tax Authority (FTA) has called on registrants who have yet to update their tax records to take advantage of the UAE Cabinet’s decision to grant a grace period, relieving them from administrative penalties.
