Tamirisa said property market weakness was having a significant economic impact and authorities needed to monitor this carefully. Average rents sank 10.2 per cent in Abu Dhabi in 2017 and 5.2 per cent in Dubai, according to the central bank. Read …
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Dates set for new Dubai Islamic Bank rights issue
Dubai Financial Market (DFM) has announced that the rights issue of Dubai Islamic Bank is due to trade on the exchange between May 16-30 May as the bank embarks on a capital increase. Trading of the rights issue enables existing shareholders of the bank …
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FAB Named Best Investment Bank in the UAE for the Second Year in a Row
First Abu Dhabi Bank (FAB), the UAE’s largest bank, and one of the world’s largest and safest financial institutions, has been named ‘Best Investment Bank in the UAE’ at the prestigious Euromoney Awards for Excellence 2018. FAB’s Head of Global …
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Mashreq Bank to offer commercial borrowings in Indian Rupees
The UAE’s Mashreq Bank has announced it will enter India’s non-bank financial institution (NBFI) sector through by offering external commercial borrowings in Indian Rupees through an engagement with IL&FS Financial Services Ltd. Through the IL&FS Group …
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Abu Dhabi Oil Giant Hires Cutis as CFO From Wealth Fund
Abu Dhabi National Oil Co. hired Mark Cutis as chief financial officer from the sovereign fund that combined with Mubadala Investment Co., according to people with knowledge of the matter. Cutis will report to Adnoc’s director of finance and investment …
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UAE University ranked among top 50 universities
Al Ain: The UAE University has been ranked the 50th best university in the Times Higher Education’s 2018 list of Emerging Economies University Rankings. Dr Mohammad Al Baili, Vice-Chancellor of the UAE University, stressed the significance of this …
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UAE’s VAT Move Has Gone Well, Inflation to Moderate: IMF Official
DUBAI (Reuters) – The United Arab Emirates’ introduction of value-added tax has gone smoothly and inflation, having jumped in response, will moderate, the head of the International Monetary Fund’s mission to the country said on Thursday. Natalia Tamirisa …
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Diamantaires upbeat as UAE scraps VAT on gold, diamonds
Diamond analyst Aniruddha Lidbide said, “VAT in the UAE was imposed just recently and it had a huge cost implications on loose diamonds. Now that the UAE has scrapped the VAT, it is a good news for the entire diamond value chain.”
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Careem launches new motorcycle pickup service in Dubai Marina
It has now been announced that Dubai taxis will feature interactive LCD screens, as well as free Wi-Fi starting December (just make sure you get into the right colour cab).
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Revealed: Top Indian business leaders in Arab world
Dubai: Over 100 Indian nationals, mainly businessmen and executives that are based in the UAE, have just been recognised for their “phenomenal success” in the Arab world. These expatriates are among the top 100 business owners and 50 Indian executives …
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UAE’s Emirates Global Aluminium likely to delay IPO
Sources had previously said that Bank of America Merrill Lynch, Goldman Sachs and JP Morgan had been hired to run the IPO. EGA, owned by Mubadala and Investment Corp of Dubai, was created in 2013 when state-owned companies Dubai Aluminium and Abu Dhabi’s …
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Dubai’s new development game is attention to detail and sustainability
RELATED ARTICLES: Is downsizing the answer to Dubai’s affordable housing needs? | Has Dubai’s property market finally stabilised? | KSA-UAE agreement to develop Saudi real estate ‘hotspots’ In 2018, we have so far witnessed ready transactions rising by …
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Women comprised 30% of Dubai realty transactions in Q1
Approximately 2,431 female investors participated in 2,780 transactions and invested AED4.4 billion in the Dubai property market in the first three months of 2018, the Khaleej Times reported. It suggests that real estate investment in the United Arab …
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JSS school wins Dubai Customs award
Dubai: JSS Private School in Dubai recently won first prize … Change reinvented’, was a campaign aimed at measuring the coming generation’s awareness of Intellectual Property Rights and educating the public about the risks of counterfeiting on …
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Is the Middle East building the infrastructure needed to go solar?
RELATED ARTICLES: ABB wins $90m order to build substation at Dubai solar park | Swiss firm ABB bidding for UAE projects worth almost $700m | DEWA and ABB strengthen partnership The Middle East has been steadily shifting its reliance away from oil and …
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Dubai’s Emirates looks at closer Etihad ties
Sheikh Ahmed said though business conditions improved they had remained tough … Parent Emirates Group will pay a Dhs2bn dividend to Investment Corporation of Dubai (ICD), the state investment vehicle which owns the airline, after profit rose 67 per …
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Abu Dhabi Taqa Shifts to Growth Mode After Years of Cutbacks
Abu Dhabi National Energy Co., the state-controlled oil and gas producer, is looking again at boosting spending after three years of cutting back, according to Chairman Saeed Mubarak Al-Hajeri. The company, known as Taqa, had first-quarter net income of …
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