UAE: The Roads and Transport Authority (RTA) of Dubai and HERE Technologies have signed a memorandum of understanding on a long-term technology collaboration with the aim of mapping the city with high definition technology for the first time. HD maps are a …
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UAE routes identified for futuristic Hyperloop project, says RTA
The Roads and Transport Authority (RTA) has unveiled the initial design of the Hyperloop project which aims to revolutionise travel by cutting the Dubai to Abu Dhabi journey to just 12 minutes. Hyperloop, which is part of RTA’s initiatives for Dubai …
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Foreign bank ordered to pay €70,000 to local company
Dubai: A foreign bank branch will have to pay €70,000 plus an appropriate amount of compensation to a local company for its malpractice in processing the plaintiff’s letter of credit. The case was recently resolved by the Expertise and Dispute …
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UAE Food Bank to collect displayed items at Gulfood for donation
Dubai: Having channelled over 600 tonnes of food donation last year, the UAE Food Bank is not missing any chance to make sure surplus food at any potential venue reaches the needy. With that aim, the Food Bank will collect the food items that are being …
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Fire safety violators to be named and shamed in Sharjah
Colonel Sami Khamis Al Naqbi, director-general of Sharjah Civil Defence, told Gulf News that the campaign will see inspectors working round the clock in shifts. “All Civil Defence staff including the director-general will be in the field checking on the …
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How the UAE’s New Minister of AI Views the Future Of Tech in His Desert Nation
into a golden age of technology. Where does a 27-year-old begin, in his effort to pioneer a new government system dedicated entirely to AI? Olama said he’s positive that artificial intelligence will prove an opportunity for the UAE rather than a challenge.
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Caution: Road closures for Abu Dhabi Tour
Dubai: Motorists in Abu Dhabi have been warned to take caution as a number of roads will be temporarily closed off for the international cycling tour. Organisers said that Abu Dhabi Tour 2018 will pass through a number of landmarks in the capital …
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Dubai Islamic Bank : DIB lists $1b sukuk on Nasdaq Dubai
Dubai Islamic Bank (DIB), the largest Islamic Bank in the UAE, rang the market-opening bell today to celebrate the listing of a $1 billion Sukuk on Nasdaq Dubai. The Sukuk is the first benchmark dollar-denominated Sukuk from a GCC issuer in 2018 and …
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Dubai Islamic Bank celebrates Nasdaq Dubai Sukuk listing
It is DIB’s sixth Sukuk on Nasdaq Dubai, making the bank the largest UAE debt issuer by value on the exchange with a total of $5.25 billion. The latest Sukuk, carrying a profit rate of 3.625 per cent with a five-year tenor, attracted investors from the …
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Qatar’s Commercial Bank agrees to sell stake in UAE’s UAB to Tabarak
Commercial Bank, Qatar’s third largest bank by assets, has agreed, in principle, to sell its 40 per cent stake in Abu Dhabi-listed United Arab Bank to United Arab Emirates-based Tabarak Investment, sources told Reuters on Tuesday. The sale will be …
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UAE biggest source of GCC remittances to Philippines in 2017
Dubai: The value of remittances … posting the biggest jump of 30.8 per cent from a year earlier. The figures are based on bank reports and refer only to funds coursed through banks. Overall, Filipinos from around the world remitted a total of $31.3 …
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Sharjah Waterfront City
Sharjah Oasis Real Estate is a highly ambitious company with a universal vision, led by a team of passionate professionals who are ready to challenge the status-quo and conventional ways to achieve significant advancements in economic, social and …
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‘A Kochi-based business consultancy is portraying us as frauds’
KOCHI: The members of the UAE Business Losers Association have come up with an allegation there are attempts to portray them as frauds by a Kochi-based business consultancy organisation, which functions as the local agent of some UAE banks. Association …
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Dubai’s Emirates to resume suspended Lisbon service, fly first A380 to Beirut
05pm arrival back in Dubai. It will have 14 first class, 76 business class and 429 economy class seats. The flight comes as airport authorities seek to expand capacity to more than 8 million passengers a year. Emirates is the world’s largest operator of …
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Obaid Humaid Al Tayer Meets Vice President and Finance Minister of Switzerland in Dubai
As part of the Ministry of Finance’s efforts to develop the UAE’s network of international relations, HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs met with HE Ueli Maurer, Swiss Vice President and Finance Minister, accompanied by …
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Qatar lender to sell stake in UAE’s UAB to Tabarak
Abu Dhabi, Dubai: Commercial Bank, Qatar’s third largest bank by assets, has agreed, in principle, to sell its 40 per cent stake in Abu Dhabi-listed United Arab Bank to United Arab Emirates-based Tabarak Investment, sources told Reuters on Tuesday.
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S&P: Dubai’s real estate slump to last until 2020
Dubai real estate prices could decline by 10 to 15 percent over the next two years, hit by new supply, geopolitical risks and the introduction of value added-tax in the United Arab Emirates, S&P Global Ratings’ analysts said on Tuesday. The grim …
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