Residents in the UAE will soon have to watch how much energy they consume as their electricity and water bills will be subject to the value added tax (VAT) being introduced from next year. Starting from January 1, 2018, water and electricity bills in the …
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Foundations laid for UAE’s Expo 2020 pavilion
The foundations of the futuristic falcon-inspired UAE pavilion at Expo 2020 Dubai were laid down on Sunday by His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Expo 2020 Dubai Higher Committee and Dubai Civil Aviation Authority and CEO of …
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UAE’s Dana Gas says appeal against BlackRock joining sukuk trial rejected
Dana is refusing to redeem its Islamic bonds on the grounds that they are no longer sharia-compliant and have therefore become unlawful in the United Arab Emirates. Courts in both Britain and the UAE are hearing the case. Read: Dana Gas says UAE court …
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Exclusive: Siemens locates new global airport and cargo business unit in Dubai
Siemens, Europe’s largest industrial conglomerate, has created a previously undisclosed new GLOBAL division catering to airports, cargo and logistics in Dubai in conjunction with a digital platform – or industrial internet of things near the Dubai …
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Sharjah Ruler approves 6% increase in 2018 budget
Dr. Sheikh Sultan bin Mohammed Al Qasimi, Ruler of Sharjah, approved the spending for the next 12 months, which will focus on the emirate’s strategic objectives in the economic, social, scientific and cultural fields, news agency WAM said. Subscribe to …
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Omniyat signs $136m facility with Ajman Bank
Dubai-based developer Omniyat has signed a facility agreement with Ajman Bank for Dh500 million ($136 million) for the construction of an iconic mixed-use project at Dubai Water Canal in Business Bay. The project is a cooperative partnership between Omniya …
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Abu Dhabi speeds CNG conversions for vehicles
In an interview with Gulf News, Mahir Al Syed Ali, manager at the Abu Dhabi Technical Services Centre of Emirates Transport, said: “We generally focus on converting government and commercial vehicles but it’s entirely open for private vehicle owners …
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The UAE breaks ground on iconic pavilion at Expo 2020
Dubai: The UAE has broken ground on its pavilion at Expo 2020 Dubai, with Shaikh Ahmad Bin Saeed Al Maktoum, chairman of the Expo 2020 Dubai Higher Committee, laying the foundation at a ceremony on Sunday. The event also included the signing of the …
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Dubai Frame opening date not decided yet: DM
The official called on the public not to circulate such false news and verify the information through the official channels of the Municipality. “Dubai Frame is one of the unique projects that Dubai Municipality is keen to implement. It is an aesthetic …
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Visitor molested boy during Dubai Fountain show
Dubai: A visitor has been accused of molesting a 13-year-old boy while he was watching the dancing water show at the Dubai Fountain at Dubai Mall, heard a court on Sunday. The Saudi boy was said to be standing at the edge of the balcony watching the Dubai …
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Dubai real estate market an ‘investment destination’
UAE-based Arenco Real Estate sees a stronger real estate market for Dubai in the coming years due to unlimited opportunities that are open and available to investors. Home to more than 200 nationalities, Dubai is one of the world’s most diverse places to …
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Watch: Dubai Safari closed due to heavy rain
Heavy rains in Dubai flood roads and pavements causing disturbance to traffic and pedestrians in the early hours of the day. (Photo: Clint Egbert/Gulf News) “School buses usually leave by 2.15 pm but left at 1.15 pm as the last period was cancelled.
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The Irishman fronting the UAE’s biggest IPO in a decade
Irishman John Carey is fronting the biggest initial public offering (IPO) in the United Arab Emirates in over a decade in a deal worth 3.31 billion dirhams (€767 million). Carey, who worked for 17 years at oil giant BP in senior roles around the globe …
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Oil giant hails success of Abu Dhabi’s ‘largest IPO in a decade’
He said the IPO brought world-class investors into Abu Dhabi … international investors have been hugely excited about developing a position in the United Arab Emirates (UAE), they see the good growth fundamentals here, it’s a great place to invest …
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ADNOC Distribution Jumps 16% At Market Debut In UAE
ADNOC Distribution, the fuel retail unit of the UAE’s state oil firm ADNOC, made a strong debut on the Abu Dhabi Securities Exchange on Wednesday, opening 16 percent higher than the price set in the initial public offering (IPO). Shares in ADNOC …
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UAE oil giant must build regional ‘credibility’ ahead of Saudi Aramco IPO next year
A United Arab Emirates state-owned oil giant made a positive stock market debut Wednesday, a listing likely to resonate through the Middle East as several other companies prepare to go public. The Abu Dhabi National Oil Company (ADNOC) listed a stake in …
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Saudi Arabia drives MENA IPO activity in Q3 2017: EY
UAE. The Middle East and North Africa (MENA) region witnessed five IPO deals in the third quarter of 2017, representing a 400% increase when compared to the single IPO recorded in Q3 2016. Announced MENA value, or capital raised, reached US$ 236.7 million …
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