Authorities in the United Arab Emirates have banned a leading business website and magazine for one month for allegedly publishing “false news” on failed real estate projects in Dubai. Arabian Business has withdrawn the report, entitled “51 Dubai projects …
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Dubai mortgage firm Amlak developing villa project in Mirdiff
Dubai-based mortgage firm Amlak Finance has completed the first phase of its new residential development project in Mirdiff, it announced on Monday. The Dhs135m villa project marks the first time Amlak is developing a fully-owned property. The project …
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UAE asks banks to freeze accounts of those named on Qatar-linked blacklist: WAM
DUBAI (Reuters) – The United Arab Emirates’ central bank has asked all banks and financial institutions to stop dealing with 18 more individuals and entities with alleged links to Qatar, the state news agency WAM reported on Thursday. The move makes it the …
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Watch: Dubai taxi driver fired after deliberately hitting car
Dubai: A driver in Dubai was fired and had his taxi license revoked after a video showed him intentionally reversing, and crashing into another taxi. The video, which was uploaded on YouTube recently, shows the driver getting out of the car and arguing …
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Indian consulate issues advisory on shipping firms, agents with bad records
A number of cases have been resolved with the helpful intervention of the Federal Transport Authority (FTA) of the UAE,” it said. Gulf News had first reported about 97 Indian sailors stranded aboard 22 ships in the UAE waters seeking help from the …
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Pipeline of IPOs From U.A.E. in Full Flow as Aramco Sale Looms
Emirates Global Aluminium The largest aluminum producer in the Middle East is considering an IPO in Dubai and Abu Dhabi, potentially making it one of the first companies to be represented on both exchanges, according to people familiar with the plan.
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More UAE buyers searching for homes online
The global ‘property technology’ (PropTech) revolution has arrived in the UAE, with more than two-thirds of UAE home buyers turning to technology to help gather information relevant to their purchases. According to new research from HSBC, nearly three …
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Demand for Wi-Fi soars for passengers choosing an airline in Middle East
DUBAI — Inflight broadband is changing the airline industry … As such, 60% of all passengers say that inflight Wi-Fi is now a necessity rather than a luxury. Over half (56%) of passengers in the Middle East who have experienced high-quality inflight …
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Dubai website, magazine banned over ‘false news’ allegation
DUBAI, United Arab Emirates — The United Arab Emirates banned a popular Mideast website and magazine on Wednesday for publishing what the authorities alleged was “false news.” The move against Arabian Business magazine comes as the seven-state UAE …
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UAE Embassy in Washington, DC hosts interfaith iftar, highlights shared values
“While the values I’ve mentioned are especially important in Ramadan, they transcend culture and religion. These are values we hold dear in the UAE, where we welcome people from all backgrounds and religions.” Congressman Thomas Suozzi (D-NY) spoke at the …
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Pipeline of IPOs From U.A.E. in Full Flow Ahead of Aramco Sale
Saudi Arabian Oil Co. isn’t the only one keeping IPO markets busy in the Middle East. A slew of companies from the United Arab Emirates, both sovereign-owned and privately held, is lining up initial public offerings in a bid to capitalize on money …
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Abu Dhabi Ports ‘mulling IPO’ amid UAE listing boom
ABU DHABI (BLOOMBERG) – Abu Dhabi Ports is considering an initial public offering (IPO), joining a growing list of state entities in the United Arab Emirates seeking to sell shares, according to people familiar with the matter. The government-run ports …
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Abu Dhabi Ports denies plans for Iisting
Abu Dhabi National Oil Company is planning to list its retail unit for a valuation of up to $14bn and Saudi Aramco is preparing for what is expected to be the world’s largest ever IPO next year. Read: UAE’s ADNOC plans listing of retail unit at $14bn …
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UAE orders banks to freeze accounts, assets of those on terrorist list
The Central Bank of the UAE issued a general statement to all banks and financial institutions to search for and freeze any accounts, deposits or investments belonging to persons and entities listed by the four countries boycotting Qatar. The bank said in …
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Dubai Financial Market : DFM second quarter profit plummets on lower trading commission fees
Only listed exchange in the Arabian Gulf posted a 19.2 per cent drop in net profit The Dubai Financial Market posted a 19.2 per cent drop in second quarter net profit on lower trading comission fees. Jasper Juinen / Bloomberg The Dubai Financial Market …
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UAE’s Lulu Exchange acquires Al Falah Exchange
Lulu Exchange is part of the UAE’s Lulu Group and offers financial services such as remittances, currency exchange and salary administration. It launched eight years ago and operates in the UAE, Oman, Kuwait, Qatar, Bahrain, India, Bangladesh …
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Authorities Ban Dubai News Site and Magazine Over ‘False News’
Dubai, United Arab Emirates (AP) — Authorities in the United Arab Emirates have banned a popular Mideast business publication for publishing what they say was “false news.” A statement released by the Dubai government on Wednesday said that the Arabian …
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