The Dutch bank ABN Amro is winding down its operations in Dubai and will transfer some of its existing clients in international commodities business to Amsterdam. “The activities in Dubai will be wound down or transferred to other locations because of …
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Revealed: Dubai’s new plan to become global cruise tourism hub
Arabian Business Podcast: What next for the Gulf’s tourism industry? The plan follows the signing of a partnership agreement between Dubai-based Meraas and Carnival Corporation that aims to transform Dubai into a major regional maritime tourism hub.
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Dubai a Preferred Choice for Global Retailers
Buamim said Dubai has right fundamentals in place. “We have had challenges therefore we relaunched retail business group to work together to voice their common issues. We are trying to keep Dubai competitive by keeping international businesses here and …
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Dubai-based GEMS Education said to move ahead on IPO
GEMS Education is set to move ahead with an initial public offering, rebuffing interest from a private equity firm for a stake in the school operator backed by Blackstone Group according to people with knowledge of the matter. The Dubai-based education …
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Honor Launches Honor 10 in the UAE
Honor has launched its flagship smartphone, the Honor 10, in the UAE. The device is built keeping in mind the concept of “Beauty in AI”, to which end it uses AI 2.0 technology with its dual-lens camera for AI-enhanced photos. The device also seeks to push …
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Dubai’s Damac reports 45% Q1 profit dip amid weak property market
Dubai’s Damac Properties , owner and operator of the only Trump-branded golf club in the Middle East, posted a 45 per cent drop in first-quarter profit from a year earlier although profit rose marginally from the previous quarter. The results came as …
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United Arab Emirates and the United States conclude civil aviation discussions
Today’s announcement confirms business as usual by validating all of the rights and … agreement including fifth freedom rights remain fully in place, with the UAE and United States airlines free to continue to add and adjust routes and services”, Yousef …
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Blackstone-Backed GEMS Chooses London IPO Over Stake Sale
The Dubai-based education provider may announce plans as early … JPMorgan Chase & Co. and Emirates NBD PJSC to manage the IPO, people familiar with the matter said in December. The company could be valued at about $4 billion or more, people said last …
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Dubai Police to add autonomous vehicles to its fleet
chairman of the board of Acacus Group told local newspaper Gulf News that: “We are proud to contribute in making Dubai the global hub of technological innovation.” Dubai Police are the latest to add the autonomous means of travel to their portfolio that …
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Dubai’s Nakheel says to issue PALM360 construction tender in Q3
Nakheel is calling for piling and enabling works proposals for PALM360, its iconic, two-tower luxury hotel and residential project on Dubai’s Palm Jumeirah. The news comes as Nakheel assesses ground work preparation bids for the PALM360 site, following a …
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DIAC Career Fair Attracts Thousands, Using Technology to Connect Students and Employers Across Borders
a technology that captures job-seekers’ profiles and CVs digitally, and enables employers to bookmark the top candidates within the app and share it with the recruitment team. Mohammad Abdullah, Managing Director of Dubai International Academic City and …
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Virgin Mobile Middle East raises $30m in pre-IPO sukuk
In the event of an IPO, the certificates will transfer into an exchangeable sukuk, maturing 2 years from the IPO date, the Dubai-based company said in a statement. It added that the funding will be used to support its expansion in the region. Alan Gow …
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Yemen PM: Crisis over UAE deployment to Socotra over
The resolution of the weeks-long dispute came a day after Saudi Arabia deployed troops to the strategic island and signed a deal with the UAE to return the island’s sea and airports to Yemeni forces, according to state-run Saba news agency. The crisis over …
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UAE digital bank attracts 10,000 new customers per month
international 60-second remittances as well as curated daily feeds of selected deals and happenings in the UAE, personalized to the customer’s preferences. The launch of Liv. Goals, a new feature that allows customers to set and save towards financial …
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Dubai Financial Market : Mada’in Properties reports significant earnings growth in FY 2017
Mada’in Properties PJSC has reported a significant growth in its operating revenue for the year ended December 31, 2017. The company has also achieved a net profit of Dh15 million, which represents an increase of 22% over the financial year ended 2016.
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Dubai honours Arab Hope Makers, winners bring home Dh1 million each
Dubai: Mahmood Waheed, who runs a charity that helps homeless elderly in Egypt, was declared the winner of this year’s Arab Hope Makers, the largest Arab initiative dedicated to celebrating philanthropic efforts. Mahmood Waheed, winner of the Arab Hope …
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Etisalat launches the UAE’s first commercial 5G wireless network
Etisalat on Monday announced the launch of the first commercial 5G wireless network in the UAE. Etisalat said it will be the first operator to have a fully developed commercial 5G network available to provide gigabit internet services to its customers.
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