For sale sign on restaurant. Photo from Gulf News

Global pandemic: UAE’s restaurants start to close down

Dubai: Restaurant businesses in the UAE are starting to put up ‘For Sale’ signs, with their owners realizing there is no escape from the destruction set off by the COVID-19 pandemic. Licenses and even the equipment and furniture are being offered at steep discounts in hopes that someone out there will buy them. “It’s a situation where for many if they try to open, it would mean more cash bleeding and which they will never recover,” said an industry source. “Only government-owned locations have been given rent deferrals or rent-free…

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Nigerian law firm ranked in Legal 500 EMEA 2020

We are pleased to announce that Sefton Fross has been recognised in the just released 2020 edition of the Legal 500 EMEA rankings as a leading law firm in our Commercial, Corporate and M&A, Banking, Finance and Capital Markets, and Energy and Natural Resources practice areas. The Legal 500 EMEA guide provides researched coverage in 85 countries and over 2,700 ranked law firms with updated, impartial, third party opinion on the leading law firms and lawyers in countries across the regions. Sefton Fross was highly ranked as a Tier 2…

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IMAX Outlines Its Coronavirus Damages

The big-screen technology expert was on a roll when the virus came along to paralyze booming growth trends in IMAX’s largest market. Entertainment technology veteran IMAX (NYSE:IMAX) reported fourth-quarter results on Wednesday. The company smashed Wall Street’s estimates across the board, bracing for a large business impact from the coronavirus outbreak in China. IMAX recorded $1.11 billion in global box office receipts in fiscal year 2019, a 7% increase over the reading in 2018. Management had expected “low double-digit” growth for this important metric. After installing 56 net new multiplex theaters during the fourth quarter,…

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