A Rolls-Royce Trent 1000 turbofan engine is displayed at Heathrow Airport in London. Agence France-Presse/ File
British engine-maker Rolls-Royce plunged to a worse than expected 4 billion pound ($5.6 billion) loss in 2020 as the pandemic stopped airlines flying, but stuck to its forecast to burn through less cash this year.
Britain’s Rolls-Royce Holdings said on Saturday it was looking to raise up to 2.5 billion pounds ($3.2 billion) in an effort to strengthen its balance sheet.
Rolls-Royce shares hit their lowest level since 2004 on Monday after the British aero engine maker confirmed it was considering a rights issue of up to 2.5 billion pounds ($3.23 billion) following months of speculation about its finances.
The UAE’s is expected to reach $700 billion by 2025. Fifty-one per cent of the country’s wealth is owned by individuals whose net worth is more than $5 million.
The real estate markets in Sharjah and Ajman have continued to record stability in sales and rental prices in the first half of 2021, according to Bayut & dubizzle.
Visitors to Expo 2020 Dubai are invited to enjoy a world of cuisine where taste knows no borders – a foodie’s paradise featuring internationally acclaimed restaurants and local favourites,