Dubai Chamber of Commerce and Industry (DCCI) is reportedly developing the city’s first-ever retail rent index to improve transparency. The announcement comes after Dubai was recently ranked the most important global shopping destination in an annual …
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DUBAI, United Arab Emirates | Millions of Muslims prepare for start of fasting in Ramadan
DUBAI, United Arab Emirates — Last minute preparations are underway as Muslims around the world stock up on groceries and dates for evening meals to break dawn-to-dusk fasting during the month of Ramadan. Saudi Arabia and other Muslim-majority nations …
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DUBAI, United Arab Emirates | Gulf Arab states rebuke Israel, but alliances inch closer
State-aligned media took a tougher line. A front-page editorial Tuesday in Dubai’s Gulf News ran with the headline: “Mr. President, you killed any glimmer of hope for peace.” The front page of Abu Dhabi’s The National described the U.S. Embassy …
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UAE declares Ramadan start date
The UAE’s moon sighting commitee has announced that Thursday, May 17 will be the first day of Ramadan. Abu Dhabi Judicial Department officials met after prayers on Tuesday to sight the holy month’s moon crescent under orders from the minister of justice.
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Feast or famine: Will UAE businesses go slow as Muslims fast this Ramadan?
said that cooperatives and supermarkets outlets in the UAE are expected to reduce the prices between 25-50%. Some products will also be sold at cost price during the holy month. Hadi Khatib is a business editor with more than 15 years’ experience …
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No freeze on ‘fifth freedom’ flights in US-UAE agreement, officials say
The agreement between the US and UAE regarding civil aviation confirms “business as usual” and allows Emirates to continue to operate “Fifth Freedom” routes to the US that do not originate in Dubai, despite claims to the contrary, according to …
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Listed firms’ agencies slam hedge funds for ‘violating corporate managerial rights’
Pointing to similar cases in the past of Dubai-based Sovereign Asset Management’s opposition to SK Corp. in 2003 and Elliott’s attack on Samsung Group in 2015, the associations criticized hedge funds for taking huge profits and then withdrawing from the …
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Islamic finance feels heat from $700 mln Dana sukuk saga
DUBAI, May 15 (Reuters) – Islamic finance operators are scrambling to tighten the industry’s rules in order to make sure other companies cannot take the same path as Dana Gas, which this week forced a $700 million debt restructuring. Global standards are …
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Dubai Tourism announces tie-up with China’s Tencent
Dubai: Dubai’s tourism authority announced on Tuesday a new agreement with Chinese internet giant Tencent, during a trip this week to the country. The agreement seeks to promote Dubai as a preferred destination for Chinese travellers. According to a …
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UAE to refund VAT for conferences, events companies
The UAE Cabinet has decided to refund a 5 per cent value added tax for institutions working in the exhibitions and conferences sector. Facilities involved with organising events have the right to refund the tax levied of providing these services …
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Dubai Islamic Bank Stands out at Banker ME Industry Awards
Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has once again dominated one of the industry’s leading awards ceremonies, collecting five honours at the Banker Middle East Industry Awards 2018. For the third consecutive year, DIB was …
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Carnival Corp. has its eye on Dubai with new cruise terminal deal
DUBAI — Carnival Corporation has signed a strategic partnership to develop the Dubai Cruise Terminal, in an effort to grow maritime tourism in the region and transform Dubai into a major regional maritime tourism hub. Set to open in October 2020 …
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Abu Dhabi’s Aldar sees Q1 profit rise after stake sale
Abu Dhabi’s largest developer Aldar Properties reported a 5 per cent rise in first-quarter profit on Tuesday, beating analysts’ forecasts but mostly due to revenue from a stake sale. The property market in United Arab Emirates remains under pressure as …
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UPDATE 1-Stake sale helps lift UAE’s Aldar Properties first-quarter profit
ABU DHABI, May 15 (Reuters) – Abu Dhabi’s largest developer Aldar Properties reported a 5 percent rise in first-quarter profit on Tuesday, beating analysts’ forecasts but mostly due to revenue from a stake sale. The property market in United Arab …
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UAE leads region in renewable energy: APICORP
The UAE has done impressive work to stay on track with the renewable energy targets and with phases 3 and 4 of the Dubai Solar Park to begin commissioning by the end of 2020, and is placed at the forefront of renewable energy development in the region …
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AI Express to connect Surat with Kochi, Sharjah
SURAT: Air India Express, a wholly owned subsidiary of Air India, has committed to launch flight services from Surat to Kochi and Sharjah within two months of Surat airport getting the customs notified status. Surat Airport Action Committee (SAAC …
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DUBAI, United Arab Emirates | Bahrain revokes citizenship of 115 people in mass trial
DUBAI, United Arab Emirates — A Bahrain court on Tuesday revoked … local Shiite militant groups have carried out several attacks on security forces. Independent news gathering in Bahrain also has grown more difficult, with the government refusing …
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