Dubai stocks hit a 27-month low on Thursday on the back of sharp falls in the real estate market and a drop in liquidity levels. The Dubai Financial Market Index ended the day’s trading down 1.83 percent on 2,947.99 points breaching the 3,000-point …
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Bank of Singapore is upbeat on its Middle East prospects after a sound start to 2018
The private banking arm of OCBC, Singapore’s second-largest lender by total assets, saw its assets under management in Dubai grow about 30 percent from its launch in the city’s financial center last year, according to Reuters. “I firmly believe and I’m …
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Abu Dhabi looks at drain systems to prevent flooding
Abu Dhabi: In a bid to prevent flooding in the capital, the Abu Dhabi City Municipality is considering the injection of stormwater into deep aquifers, and will also build three large pumping stations in Shakhbout City this year. In addition, the …
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44 food outlets temporarily closed in Dubai
Dubai: As many as 44 food outlets in Dubai were temporarily closed down this year for violating a number of hygiene requirements. Sultan Ali Al Tahir, Head of Food Inspection Section at Dubai Municipality, said: “[We] closed down the food outlets …
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UAE’s Filipino expats target second property investment
Eighty percent of Filipinos living in the UAE plan to buy at least one property for additional income and retirement fund apart from their residential home, according to a new survey. The poll by the Philippine Property and Investment Exhibition (PPIE …
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UAE’s private sector records growth gains in April
Dubai: The UAE’s non-oil private sector turned in an improved set of numbers for April, including gains on output and in generating new business leads. The backlog of works — another key indicator — is rising at the fastest rate in 32 months …
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UAE sees non-oil sector conditions improve in April
The UAE non-oil private sector saw an upturn in April as output, new business and employment improved, according to Emirates NBD. The bank’s purchasing managers’ index, produced by IHS Markit, rose to 55.1 from 54.8 the previous month as business …
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Smart Dubai plans to sell its blockchain manual to other smart cities
Dubai: Smart Dubai, the government authority overseeing the implementation of new technologies, says it is preparing to sell a manual on how to implement blockchain to other smart cities. The authority has spent much of the past year mapping the city’s …
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Dubai Chamber Announces Winners of 3rd Dubai Smartpreneur Competition
Director of Dubai Technology Entrepreneurship Center – DSO; Alia Al Mazrouei, COO of Almazrouie Investment; Andriy Radchenko, Senior Engagement Manager at McKinsey & Co.; Rekha Setpal, Head of Community Services at in5 & Dubai Internet City; Anna-Liisa …
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UAE begins implementing blockchain strategy
The technology allows the information to be shared seamlessly. We don’t actually need to do any reconciliation anymore,” Lootah told the delegates at the Future Blockchain Summit. The UAE government collects Dh12 billion in fees per year, which …
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Dubai to have the fastest response to fire incidents
“These measures, which represent the first step in our ‘smart response’ to fires, will be coordinated by UAE-based technology company MGE. We also have a unique opportunity to use the Statistical Analysis System (SAS) for data analysis and risk …
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Singapore firm unveils blockchain technology
A Singaporean technology firm Locus Chain Foundation has launched the … Speaking at the launch of the innovation in Dubai, Sang Yoon, Lee, CEO of Locus Chain said one of the key features of this fourth generation of blockchain is its ability to track …
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Blockchain Technology Eyed By BMW, Renault, General Motors
In addition to Samsung, Mastercard, IBM, and the Dubai Land Department, the Mobility Open Blockchain Initiative claims that BMW, Renault, and General Motors are also interested in the technology, along with Bosch and ZF Friedrichshafen. Care to guess who …
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Dubai Properties Recognised by Dubai Land Department at Fiabci World Real Estate Congress
Dubai Properties, a member of Dubai Holding, was presented with a commemorative award by the Dubai Land Department (DLD) to recognise its support as strategic partner of the 69th FIABCI World Real Estate Congress, that concluded in Dubai today. The award …
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UK nationals ‘pumped $8.4bn into Dubai real estate’
British nationals have invested nearly Dh31.1 billion ($8.47 billion) in Dubai’s real estate sector during the period from 2014 to 2017, according to the statistics released by Dubai Land Department (DLD). The United Kingdom is one of the largest …
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UAE leads global efforts to prevent extremism, FNC speaker says
Martin Chungong and Dr Amal Al Qubaisi address a press conference on the sidelines of the meeting. Abdul Rahman/Gulf News The UAE is also cooperating with the United States of America through Sawab Centre on combating the messages spread by Daesh terrorist …
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Mashreq Kenya bank loan syndication
Dubai: Mashreq bank on Wednesday closed a $100 million (Dh367 million) dual tranche syndicated term facility for Stanbic Kenya Bank Limited — a subsidiary of the Standard Bank Group. The transaction closed nearly two and a half times oversubscribed.
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