More than 800,000 solar panels will be needed to complete the first wave of the Masdar-led project to build the third phase of the Mohammed bin Rashid Al Maktoum solar park in Dubai. Canadian Solar this month began production and shipping of the 22,000 …
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UAE banking sector crisis: 3,000 jobs cut
*UAE banks counting the cost of weakening economy and competitive market The banking sector in the country has been in a state of upheaval over the past 12 months after 3,000 jobs were slashed in the UAE’s two main cities, Abu Dhabi and Dubai.
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Dubai unveils strategy to fight cyber threats
Dubai: The Dubai Cyber Security Strategy was launched on Wednesday to strengthen Dubai’s position as a world leader in innovation, safety and security and manage cyber security risks among establishments and residents in Dubai. The strategy was launched …
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57% of UAE residents expect spending hike during Ramadan
Dubai: Despite assurances that retailers will slash the prices for basic essentials during Ramadan, the majority of residents in the UAE are still anticipating an increase in household spending throughout the fasting period, a new survey suggests …
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Worshippers get parking relief near mosques in Dubai
Dubai: Worshippers rushing to the mosques following iftar can breathe a sigh of relief as they get a grace of 45 minutes from the time of Maghrib Azaan (dusk prayers), Gulf News can confirm. A Roads and Transport Authority (RTA) spokesperson told Gulf News …
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UAE witnesses trafficking trend of liquid cocaine
Dubai: The UAE has identified a new trend for trafficking drugs in the form of liquid cocaine, according to an Interpol report published on Tuesday. Operation Lionfish – ASEAN, which involved more than 2,000 police and customs officials across 14 …
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Cabinet approves establishment of UAE Sharia Ifta Council
Abu Dhabi: The Cabinet has approved the establishment of a UAE Sharia Ifta Council as a religious entity to unify, regulate and streamline Islamic fatwas in the country, highlight the tolerance of Islam, and reduce the difference over Sharia issues and …
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Why Dubai is a hotspot for property investors
From its beginnings as a fishing and pearling port, Dubai has morphed into a glittering global marvel today. It has defied the norms and defined the extraordinary to captivate the world. Glamour and grandeur have now been synonymous with Dubai as it builds …
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German Authorities Target British Investor for Tax Evasion
He currently lives in Dubai. Former senior people at the Hamburg-based bank … In September 2015, Mr. Shah’s now defunct London-based hedge fund, Solo Capital, transferred €222 million to an account at Varengold Bank in Hamburg. The acount belonged …
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Middle East Crude-Benchmarks weaken as July trade slows
Cash Dubai widened to 59 cents below swaps … kingdom’s policy of cooperation with major oil producers to rebalance markets and limit volatility. *Hedge fund managers had already closed out many of their bearish short positions in crude oil before …
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Buy now, pay later deals spur Dubai property market
Developers have used payment plans as a key tool to reinvigorate the real estate market since 2014, changing from mostly front-loaded to back-ended payment plans. In 2013, more than 80 per cent of launches had payment terms that were front-ended, whereas …
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UAE forms Fatwa Council to advocate moderate Islam
… board members of the Higher Sharia Board for Banking and Finance to strengthen consistency of the Islamic finance industry across the UAE. The Board is responsible for setting rules, standards and general principles for banking and financial …
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Canadian Solar to supply modules to Dubai project
Canadian Solar, one of the world’s largest solar power companies, has been selected as the sole module supplier to provide 268 MW of double-glass Dymond modules for the first phase of the 800 MW Mohammed bin Rashid Al Maktoum Solar Park (Dewa Project) in …
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India and the UAE: Ancient Alliance, New Opportunities
The UAE may hold the key to India’s establishment as a leading world power and major emerging economy. With historical ties that date back centuries and opportunities for growth in industries such as realty, finance and trade, all signs point to a …
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Abu Dhabi’s sweet shops get busier by the day
Abu Dhabi: Sweet shops in the capital are seeing more business than usual, thanks to Ramadan. Traditional Middle Eastern sweets have become one of the main food traditions during Ramadan, with well-known treats such as qattayef, kunafa, baklava and …
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UAE Central Bank orders closure of money exchange
Abu Dhabi: The UAE Central Bank has ordered the closure of a small money exchange house after detecting irregularities, official sources told Gulf News on Tuesday. The exchange, which has six branches — three in Dubai, two in Abu Dhabi and one in Sharjah …
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Bloom begins main works at Soho Square, Abu Dhabi
The main construction phase is now underway at Soho Square, Bloom Properties’ second mixed-use project on Saadiyat Island in Abu Dhabi, according to a statement by the developer. Bloom Properties has appointed Emirates Link Maltauro to carry out the work.
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