With the dirham pegged to the dollar, it makes sense that the UAE Central Bank follows the federal policy and remains aligned. What I don’t understand is why every time the rate increases, my bank immediately increases my mortgage rate and instalments …
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UAE central bank raises interest rates by 25 basis points
The Central Bank of UAE has announced that effective Thursday, June 14, it will raise interest rates applied to the issuance of its certificates of deposits in line with the increase in interest rates on the US Dollar, following the US Federal Reserve’s …
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Dubai Islamic launches revamped website
Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has launched a new and completely revamped website which offers a vastly enriched and superior experience to its fast growing customer base. The redesigned website will allow users to easily …
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TRA issues advisory on WhatsApp hacking in UAE
Dubai: With fraudsters getting more sophisticated, there’s no denying that WhatsApp accounts can get hacked and even users in UAE are not a hundred per cent foolproof. Police and security experts have warned that scammers are still doing the rounds to …
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Video: Carrying goods from strangers can get you arrested in UAE
Dubai: When travelling abroad, never accept to carry goods from strangers, no matter how innocent their request may be. A video published on the online news site Abu Dhabi Network warned passengers against accepting goods from strangers, and advised …
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Off Abu Dhabi’s coast, an island home to cats seeks aid
The inhabitants of the desolate, man-made island off the coast of Abu Dhabi can’t be immediately seen among the breakwater rocks. But as you draw close, their meows give them away. A colony of stray cats has swelled on Lulu Island among its barren sandy …
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UAE begins Hodeidah aid distribution
Dr. Al Hassan Ali Taher, Governor of Hodeidah, highlighted in a statement that the UAE’s significant efforts to support Yemen, its people and its legitimate government has not wavered. “The UAE is doing all it can to liberate Yemen from the control of …
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Abu Dhabi economy to pick up gradually
Global ratings agency S&P on Sunday affirmed Abu Dhabi’s “AA” long-term and expects growth will gradually pick up and that the its fiscal position will remain strong over the next two years. Following 0.5 per cent contraction in real terms in 2017 due to …
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Solar power to play major role in new Dubai mega project
Extensive on-site generation of solar power will be a key pillar of Tilal Al Ghaf, says Majid Al Futtaim Spanning three million square metres at the intersection of Hessa Street and Sheikh Zayed Bin Hamdan Al Nahyan Street, near Dubai Sports City, Tilal Al …
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Who stands to benefit from the UAE’s visa and investment rules?
“They don’t have to worry about a visa every two years.” Dr. Aline Abi Khalil, a Lebanese family medicine specialist, who has practiced in Dubai since 2013, greets the news with a sigh of relief. She says it will give her whole family more stability.
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How Dubai’s Godolphin became a world leader in horse racing
His Highness’ contribution has been discreet and there’s a respect for the way he has done it” One racing insider that Arabian Business speaks to compares the development of Goldolphin to the growth of Dubai itself. When replying to the question …
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UAE gets first dedicated sports library
Abu Dhabi: The Fatima Bint Mubarak Ladies Sports Academy (FBMA) announced on Monday that it has contributed a number of books to the Abu Dhabi Ladies Club (ADLC) on the completion of the first dedicated sports library in the UAE — The Fatima Bint Mubarak …
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Dubai’s Emirates launches new Auckland service via Bali
It will offer eight seats in first, 42 seats in business and 304 seats in economy class, as well as 20 tonnes of belly-hold cargo capacity. The southbound flight, EK 450, will depart Dubai at 7.05am, arriving at Denpasar (Bali) at 8.20pm local time …
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Dubai’s RTA awards contract for 900 new taxis
Dubai’s Roads and Transport Authority (RTA) has awarded a contract for procuring 900 new vehicles for the Dubai Taxi fleet, it announced on Sunday. The new lot includes 370 hybrid vehicles fitted with dual fuel-electric power motors. The new vehicles …
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How UAE rate hike will affect businesses,…
The key interest rate hike announced on Thursday by Central Bank of the UAE will have a sudden direct impact on both businesses and residents alike by sparking a spurt in the borrowing costs across the financial sector, including auto, mortgage and …
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85% of UAE residents ‘not saving enough’ for future – survey
Eighty-five percent of UAE residents still feel that they are not saving enough for their future, according to a new survey by National Bonds Corporation. Its 2017 Savings Index found that 41 percent of savers in the UAE are planning to start their savings …
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UAE winning ‘power’ play
Dubai in May took another big step toward its goal of becoming the world’s greenest city when the inauguration of the 200MW first stage of the 800MW third phase of the Mohammed bin Rashid Al Maktoum Solar Park brought the emirate’s clean energy share of …
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