News agency Agence France-Presse last month reported an anonymous source as confirming that Sheikha Latifa had been brought back to Dubai. In a statement last week, Human Rights Watch Middle East director Sarah Leah Whitson called on UAE authorities to …
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Saudi team in Socotra as UAE presence angers Yemen
On Friday, a Yemeni government official said UAE forces had occupied sea and airports on Socotra, in a move the official called an “act of aggression”. A Yemeni minister told Anadolu news agency on Friday that the Yemeni people would not give up any …
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Abu Dhabi Residential Prices, Rentals Dip in Early 2018
While sale and rental price decreases across Abu Dhabi may not be the news that landlords and sellers want to hear, current market conditions could give rise to considerable movement in 2018. Bayut.com reports price decreases in the rental sector will …
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Windfall for Indian expats in UAE as rupee plummets to one-year low
Dubai: Indian expatriates who are just about to send money home are in for a good windfall, with the Asian currency now at a one-year low against the US dollar. The rupee fell to its lowest level since February 2017 against the greenback on Monday, owing …
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Dubai SME and RAKBank to offer banking solutions to SMEs
The agreement will allow Dubai SME’s members to open a Business Current Account with RAKbank with no minimal balance requirement and no maintenance fee. “Small and medium enterprises are the lifeblood of the UAE economy, comprising some 85 per cent of …
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UAE loan growth picks up pace on improving corporate demand
Dubai: Credit growth in the UAE reported moderate uptick during the first quarter of 2018 according to UAE Central Bank data and calculations by Abu Dhabi Commercial Bank (ADCB). Gross credit growth in the UAE averaged 0.6 per cent month-on-month in the …
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Abu Dhabi property prices, rents continue to slide in Q1
Abu Dhabi’s property market heavily favoured renters and buyers during the first quarter of 2018, with data showing price decreases in all areas, according to real estate website Bayut.com. Both apartments and villas across the sales and rental sectors …
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Abu Dhabi Police set record, receive Guinness World Records certificate
ABU DHABI: The Abu Dhabi Police have set a Guinness World Record by hosting the most number of people to attend a lecture on First Aid. 2,592 people attended the lecture hosted by Abu Dhabi Police. Major General Mohammad Khalfan Al Rumaithi, Commander-in …
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Aldar Properties to acquire assets from Abu Dhabi’s TDIC
ABU DHABI (Reuters) – Aldar Properties (ALDR.AD) said on Monday it had reached agreement with Abu Dhabi’s Tourism Development & Investment Company (TDIC) to acquire real estate assets worth 3.7 billion dirhams ($1.01 billion), marking further …
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Abu Dhabi property prices continue decline in first quarter – report
Further corrections expected as Chestertons finds overall fall of 3% in rents with sales prices dropping 1-2% The Abu Dhabi real estate market softened further in the first three months of 2018, with sales prices and rents for both apartments and villas …
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Omniyat’s CEO on carving a property niche
For many Dubai landlords, the last 12 months will surely go down as a period to forget amid a wider downturn in the property market. Apartment prices and rents decreased 3 per cent and 2 per cent respectively from Q3 to Q4 2017, according to Chestertons …
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Financial confidence dwindles among UAE residents as cost of living increases bite back
Tuan Phan began this year feeling pessimistic, due to “huge financial stress”. In the final few months of last year, the 40-year-old had to fork out for the birth of his second child, car repair bills, and a trip home to Australia at a time when his …
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Abu Dhabi’s Aldar acquires $1bn of assets from gov developer
Abu Dhabi developer Aldar Properties has announced an agreement with the development arm of the emirate’s tourism authority to acquire real estate assets worth Dhs3.7bn ($1bn). The company said the deal represented one of the largest real estate …
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Aldar acquires $1bn Abu Dhabi prime real estate assets
Aldar Properties, a leading property development company in Abu Dhabi, UAE, said it has reached an agreement with Tourism Development & Investment Company (TDIC) to acquire a portfolio of prime real estate assets worth Dh3.7 billion ($1.01 billion), in one …
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Revealed: 6 self-made billionaires in UAE who are from India
The fourth-richest billionaire expat in the UAE is Ravi Pillai, with a net worth of $3.5 billion. This Indian national was born into a household of farmers. He had earlier set up a sub-contracting business in Kerala that went bust before he moved to the Gulf.
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UAE’s Empower wins 3,600RT district cooling contract for Dubai Arena
RELATED ARTICLES: Empower’s DIFC district cooling plant in Dubai set for $16m upgrade | CEO of Dubai’s Empower mulls IPO as 2017 net profit rises by 20% | Empower achieves electricity savings worth $762m in 2017 Emirates Central Cooling Systems Corporation …
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Pakistan, UAE sign $200m pact to finance uplift plans
ISLAMABAD – The United Arab Emirates (UAE) and Pakistan have signed a $200 million cooperation agreement to execute Phase III of the UAE Pakistan Assistance Programme (UAE PAP). The agreement was signed in implementation of the directives of President …
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