The Dubai government on Sunday said that it had secured $3 billion in long-term financing for expansion of its airports. The deal, for which HSBC acted as financial adviser, included a $1.63 billion, seven-year conventional loan and a $1.48 billion …
( read original story …)
UAE businesses found unprepared for VAT introduction
The survey by recruitment firm Hays highlights a lack of preparedness in the UAE business community with the implementation of a 5 per cent VAT rate just over six months away. Read: GCC finance ministers to discuss unified VAT regulations in Bahrain On top …
( read original story …)
UAE says it sent military recruits to Yemen island for drill
UAE’s state-run WAM news agency on Monday night described the training on Socotra Island as “intensive,” saying it included battle skills, weapons training and first aid. UAE forces and aid organizations have been on Socotra Island, which sits near the …
( read original story …)
Have you realised what banking is now?
This week, the focus is on access to other markets from the UAE. According to the world bank’s financial inclusion data/global findex report, the total percentage of the UAE population with a formal savings account is 32 per cent. This is despite the …
( read original story …)
UAE A Model For New Oil Market Realities
The United Arab Emirates’ fiscal machine has adapted to the status quo of global oil markets, according to a new report by the International Monetary Fund (IMF) on Monday. The Gulf country is “adjusting well to the new oil market realities,” the IMF …
( read original story …)
RTA launches solar-powered SOS telephones
The Roads and Transport Authority (RTA) has launched solar-powered SOS (emergency) telephones at the cycling track at Seih Al Salam in Dubai. The initiative, which enables cycling track users to report emergency cases to Dubai Corporation for Ambulance …
( read original story …)
UAE Leading The Charge For Cheap Solar
Their bidding model, now being used in other regions, should continue putting downward pressure on solar energy prices worldwide. The price fall began with projects of the Dubai Electricity and Water Agency (DEWA), which is developing the huge Mohammed bin …
( read original story …)
Oil won’t last forever, so Dubai is betting big on science and tech
The first sign of the technological ambition we are about to see is a billboard: a 20-foot-tall portrait of Dubai’s ruler, His Highness Sheikh Mohammed bin Rashid Al Maktoum, rendered in a mosaic of solar panels. At a cluster of buildings about a …
( read original story …)
ABB string inverters to power Dubai’s all-electric city
ABB, a leader in electrification products, industrial automation and power grids, said that the solar energy generated by its string inverters will be used by Dubai’s first all-electric city. Inverters convert the direct current (DC) output from the …
( read original story …)
ABB powers Dubai sustainable city
Dubai’s first city to be fully powered by solar energy will rely on ABB string inverters to harness the power of the sun for residents. Inverters are used to convert the direct current (DC) output from the panels in to the alternating current (AC …
( read original story …)
This Dubai cycling track now has solar-powered emergency phones
Solo bike rides through the desert just got safer. For some, the idea of heading out into the desert for a solo bike ride may sound like the start of an extreme survival movie (or possibly even a horror film – who knows what those oryx are capable of?
( read original story …)
First solar powered service station opens in UAE
DUBAI: When you’re in the business of selling petrol, why use solar power at all? A Dubai oil retailer has no problems doing so. On Wednesday, Emirates National Oil Company (Enoc) has opened the country’s first solar-powered petrol station. The newly …
( read original story …)
Dubai’s new Apple Store spreads its wings for a better view
The store’s design is quite interesting and its terrace features 18 motorized “Solar Wings” that open in the evening to offer choice views to those inside. As its name suggests, the two-story Apple Dubai Mall store is located in the Dubai Mall. During the …
( read original story …)
Trump meets with crown prince of Abu Dhabi as he looks to Muslim world
WASHINGTON — President Trump greeted the crown prince of Abu Dhabi at the White House Monday, beginning a week that will mark a dramatic overture to the Muslim world. Trump meets with Turkish President Recep Tayyip Erdogan on Tuesday, and he departs …
( read original story …)
Abu Dhabi Investment group Mubadala to invest upto $15 billion in SoftBank Tech fund
Abu Dhabi’s Mubadala Investment Co. plans to invest as much as $15 billion in SoftBank Group Corp.’s Vision Fund and start two new venture capital funds to build its technology holdings. The SoftBank fund will be “wrapped up” in two to three weeks …
( read original story …)
The Dubai Property Market: An Overview Of Rental Opportunities
The Dubai property market is one of the most reliable in the world. According to the Dubai Land Department, the volume of investment in local real estate during the first half of 2016 reached $7.6bn. The great attractions for investors are economic …
( read original story …)
Global property bubble is ready to pop
Ever since interest rates were slashed to near zero in the wake of the financial crisis, the world has gone property mad. Residential house prices from Abu Dhabi to Zurich have spiralled as hot money travelled the world looking for a home. For those who …
( read original story …)