DUBAI/DOHA Banks and firms across Gulf Arab nations sought to keep business links to Qatar open and avoid a costly firesale of assets on Wednesday as a political freeze descended on the region. Many banks in Saudi Arabia, the United Arab Emirates and …
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Qatar debt rating downgraded by S&P as riyal hits 11-year low
DUBAI Standard & Poor’s downgraded Qatar’s debt on Wednesday as the riyal currency fell to an 11-year low amid signs that portfolio investment funds were flowing out of … which banks use to hedge against the risk of future moves in the spot rate, the …
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Terrorist financing at heart of Qatar crisis, says UAE minister
DUBAI Financial support for jihadists across the Middle East lies at the heart of Arab powers’ row with neighboring Qatar, an Emirati minister said on Wednesday, identifying three individuals his government wanted Doha to rein in. Saudi Arabia, Egypt …
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Robocop becomes reality in Dubai
The first robotic officer joined the Dubai Police Force in May 2017. But as robots integrate with humanity, the trend is raising concerns about ethics and security.
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Blockchain Challenge Dubai Announces Winners- Awarded $45,000
… has announced the results of the first Blockchain Challenge at the Dubai Design District (D3), awarding a total of $45,000 to the most promising solutions using Blockchain technology from 21 international startups. The winning start-ups now have an …
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Emaar to offer 30 percent realty business in IPO on DFM
Significant gain seen for Emaar Properties shareholders as the global real estate company on Wednesday announced plans to list its UAE Real Estate development business on the Dubai Financial Market (DFM). The IPO will be the largest since the Emaar Malls …
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Emaar to IPO real estate business in Dubai
RELATED ARTICLES: Emaar launches virtual tours of its hotels in Dubai | Video: Emaar’s The Tower completes excavation work | Dubai Ruler visits Emaar’s The Tower ahead of pile capping Emaar Properties has announced plans to list its UAE Real Estate …
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Dubai Cares gives preschool reading in Gaza a boost
Dubai: Dubai Cares has been working with ANERA (American Near East Refugee Aid) to normalise the learning and school-going process in Gaza by re-introducing reading. To encourage children to listen to and read stories, Dubai Cares funded a preschool …
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Al Khail Gate residents to get ‘explosion-proof’ LPG cylinders
Dubai: New ‘explosion-proof’ composite LPG cylinders will be made available to Al Khail Gate residential community as part of a move to enhance safety and reduce risks, it was announced on Wednesday. Dubai Properties (DP), the developer of the gated …
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Qatar’s news agency was hacked, sparking diplomatic crisis, preliminary report says
The United Arab Emirates, Saudi Arabia, Egypt and Bahrain severed diplomatic ties with Qatar on Monday in part because of comments posted briefly on the Qatar News Agency’s website on May 23. The article quoted Qatar’s Emir Tamim bin Hamad al-Thani as …
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Emaar to sell 30% of UAE property business
Dubai: Emaar Properties, the Dubai-based developer, plans to sell as much as 30 per cent of its real estate development business in the UAE in an initial public offering (IPO). The funds raised will primarily be distributed as a dividend to Emaar’s …
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Abu Dhabi port eases restrictions on oil tankers going to and from Qatar
Abu Dhabi port authorities have eased restrictions on oil tankers going to and from Qatar, according to industry sources and shipping circulars seen by Reuters on Wednesday. Abu Dhabi Petroleum Ports Authority issued a new circular on Wednesday removing …
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Qatar banks dealt financing blow as Saudi-led alliance cuts ties
DUBAI: Qatari banks, already stretched by financing demands … chief investment officer of emerging market hedge fund Capricorn Fund Managers Ltd. “If it lasts more than a few days we are likely to see rapid increases in risk pricing.”
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UAE turns screws on Qatar, threatens sympathizers with jail
Qatar’s isolation from powerful fellow Arab states advanced, however. UAE-based newspaper Gulf News and pan-Arab channel Al-Arabiya reported the crackdown on expressions of sympathy with Qatar. “Strict and firm action will be taken against anyone who shows …
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Solar panels to power four UAE malls
Dubai: Shopping mall owners Majid Al Futtaim Properties are set to install thousands of new solar panels at four of its malls to reduce the equivalent carbon emissions of taking 700 cars off the road, it was announced on Wednesday. According to a joint …
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Man cleared of embezzling Dh4m from Finance Ministry
Dubai: An accountant has been cleared of committing electronic fraud and embezzling Dh4 million from the UAE’s Finance Ministry after forging 453 e-dirham transactions. The 30-year-old Sudanese accountant, who worked for an outsourced company that deals …
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Man ‘wore a burka to lure 11-year-old boy away to rape and murder him because he knew the child would not walk off with a man’ in Abu Dhabi
A man disguised himself in a burka in order to lure an 11-year-old boy whom he then raped and strangled to death, according to police in Abu Dhabi. The accused was aware that the boy would not accompany him if he knew he was a man, the Gulf News reported.
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