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About: http://data.cimple.eu/news-article/0c2ed1fab8aa3e37dbd1fb53c9b6400b93beededb56c94ad1b26d02e Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	The Investment Corporation of Dubai reported Wednesday a 16.9 percent rise in 2019 profit but anticipated "significant disruptions" ahead due to the coronavirus pandemic. The emirate's investment arm, which holds major stakes in a highly diversified portfolio, said it posted a 25 billion dirham ($6.8 billion) net profit compared to $5.8 billion in 2018. Chaired by Sheikh Mohammed bin Rashid Al Maktoum, UAE vice president and ruler of Dubai, ICD owns giant firms like Emirates Airline, the largest in the Middle East, Emaar Properties, the region's biggest real estate firm, and UAE's second largest lender, Emirates NBD bank. It said its revenues last year dropped by 1.9 percent year-on-year to $62 billion over a decline in income from the energy and transport sectors. "In 2019, ICD produced a very solid performance given the considerable challenges faced by the global economy and the effect that these have had on our businesses," CEO Mohammed Ibrahim Al Shaibani said. "In 2020, with the significant disruptions arising in the wake of the COVID-19 crisis, we are focused on adjusting our operations to preserve their ability to operate competitively when the health crisis subsides," he said. Unlike in the rest of the Gulf, oil income is not a dominant factor and makes up just 6.0 percent of Dubai's diversified economy which relies heavily on tourism, real estate and trade. ICD has wide-ranging investments in the financial services, transport, energy and industry, real estate and construction, hospitality and other sectors. The firm's assets last year rose to a record $305 billion from $240 billion in 2018. oh/fz
schema:headline	Dubai investment arm's 2019 net profits rise
schema:mentions	Mohammed bin Rashid Al Maktoum Financial services Emirates (airline) Middle East United Arab Emirates Dubai Chief executive officer Pandemic Coronavirus disease 2019 International Statistical Classification of Diseases and Related Health Problems Emaar Properties Emirates NBD Mo Ibrahim United Arab Emirates dirham Emirates of the United Arab Emirates Energy industry
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-05-20 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	71 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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