Abu Dhabi has reportedly opted to decrease the maximum tax charged on expat property rental contracts after new rates were revealed earlier this month. A post on Abu Dhabi Distribution Company website that is still online stated that the municipality fee …
( read original story …)
Dubai’s ENOC to boost jet fuel supply in Nigeria
Dubai oil company ENOC has signed an aviation technical and marketing services agreement with Raven Energy, to support its jet fuel supply operations in Nigeria. Raven Energy is part of the Raven Resources Group, which has diversified business operations …
( read original story …)
Louvre Abu Dhabi to put $450M Salvator Mundi on display this fall
The Louvre Abu Dhabi will put Leonardo da Vinci’s painting Salvator Mundi on display from Sept. 18. Abu Dhabi’s Department of Culture and Tourism made the announcement in a statement Wednesday about the Renaissance oil painting of Christ, whose name in …
( read original story …)
Dubai’s Union Properties says no exposure to troubled Abraaj
The Dubai-based developer said in a filing to Dubai Financial Market that it has received a number of inquiries by a group of shareholders regarding the extent of the exposure. In a statement, Union Properties said: “The board of directors would like to …
( read original story …)
$450m ‘Salvator Mundi’ painting on display at Louvre Abu Dhabi from September 18
As reported by Gulf News in September 2017, the piece was acquired for the Louvre Abu Dhabi at a record price of $450 million (Dh1.65 billion). “The Salvator Mundi highlights the inclusive nature of Louvre Abu Dhabi’s narrative and Abu Dhabi’s …
( read original story …)
UN’s highest court begins hearing Qatar lawsuit against UAE
DUBAI, United Arab Emirates – The United Nations’ highest … shutting down the state-funded Al-Jazeera satellite news network and other media outlets, and severing ties to all “terrorist organizations,” including the Muslim Brotherhood and Lebanon’s …
( read original story …)
Abu Dhabi’s Eshraq Properties shelves plans to merge with Reem Investments
Abu Dhabi’s Eshraq Properties has shelved plans to acquire Reem Investments after being unable to come to a suitable agreement, the companies said on Tuesday. “The strategic investment of Reem Investments in Eshraq Properties will not be completed …
( read original story …)
Louvre Abu Dhabi to Put $450 Million ‘Salvator Mundi’ on Display
Dubai, United Arab Emirates (AP) — The Louvre Abu Dhabi will put Leonardo da Vinci’s painting “Salvator Mundi” on display from Sept. 18. Abu Dhabi’s Department of Culture and Tourism made the announcement in a statement Wednesday about the Renaissance oil …
( read original story …)
Nirav Modi firms availed loans from PNB’s Hong Kong, Dubai branches too: Report
NEW DELHI: Nirav Modi group’s exposure was not limited to only Punjab National Bank’s (PNB) Brady House branch in Mumbai, as the firms had availed loan facility from its Hong Kong and Dubai branches too, according to an internal report of the bank …
( read original story …)
UAE Exchange targets 10 per cent remittance growth in 2018
Global remittances grew seven per cent to $613 billion in 2017, according to the World Bank. The US dollar comeback in recent months following a period of weakness has boosted UAE Exchange, seeing a good flow of money to India, Pakistan and the Philippines …
( read original story …)
News: UAE’s Mashreq Bank to hire 400 people in Bengaluru in the next 2 years
The largest private sector bank in the UAE will double its workforce from 400 people at the Mashreq Global Services in Bengaluru to 800 in the next 18 to 24 months. Mashreq Bank, the largest private sector bank in the UAE, will double its workforce from …
( read original story …)
Saudi stocks most expensive versus Dubai in seven years
“As far as the UAE is concerned, we do see a lot of valuation mispricing both in real estate and banking names. But weak sentiment, the lack of depth and better green shoots elsewhere could continue to drag the markets down,” Chandrasekaran said.
( read original story …)
Why Dubai Ruler promoted a customs officer
Dubai Media office also announced the news of the officer’s promotion, and said that Shaikh Mohammad, “ordered the promotion of Al Badwawi, the passport officer at the Hatta border crossing of the General Directorate of Residency and Foreigners Affairs …
( read original story …)
UAE Attends Third Annual Meeting Of Asian Infrastructure Investment Bank Governors To Discuss Mobilising Private Capital For Infrastructure Funding
A UAE delegation attended the third annual meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB). Following last year’s event on Jeju Island in South Korea, the 2018 meeting ran from 25 to 26 June in Mumbai, India. In line …
( read original story …)
UAE attends 3rd annual meeting of Asian Infrastructure Investment Bank Governors
ABU DHABI, 26th June, 2018 (WAM) — A UAE delegation attended the third annual meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB). Following last year’s event on Jeju Island in South Korea, the 2018 meeting ran from 25th …
( read original story …)
UAE Banks Federation organises ‘TASHARUK’ workshop
Only by adopting a collaborative and systematic approach towards information sharing of cyber threat intelligence, banks can establish an effective defence to sustain a safe and secure banking ecosystem,” said Abdul Aziz Al Ghurair, Chairman of the UAE …
( read original story …)
Saudi, UAE, Kuwait to announce Bahrain support
Dubai: Saudi Arabia, the UAE and Kuwait will announce soon an integrated programme to support Bahrain’s economic reforms and its fiscal stability, a joint statement from the three Gulf states said on Tuesday. The three wealthy Gulf states said they are …
( read original story …)