According to the FT, Khadem al-Qubaisi, the jailed former managing director of Abu Dhabi’s International Petroleum Investment Company (Ipic), is being probed by authorities in Milan, a person close to the matter has revealed. The publication reported …
( read original story …)
UAE teams hopeful of bouncing back in France
We were pushing very hard to figure out the problem all along, and to finish in fourth place was really such a huge achievement for us,” Salim Al Rumaithi, Chairman, Team Abu Dhabi, told Gulf News. “This was a good race for us and an entirely different …
( read original story …)
Malaysia reaches $1.7b deal with Abu Dhabi over 1MDB debt
KUALA LUMPUR – Malaysia has reached agreement to pay Abu Dhabi about US$1.2 billion (S$1.7 billion … the Malaysian fund said in a separate statement quoted by Bloomberg News. “This arbitration settlement and monetisation of investment fund units …
( read original story …)
Malaysia’s 1MDB Reaches Settlement Deal With Abu Dhabi’s IPIC
KUALA LUMPUR (Reuters) – Malaysia’s state fund 1Malaysia Development Berhad (1MDB) said on Monday it had reached an agreement with Abu Dhabi state fund IPIC on the settlement of arbitration proceedings at the London Court of International Arbitration.
( read original story …)
Some UAE banks temporarily cut loan interest rates
One bank announced last week its “personal finance sale,” offering UAE residents a chance to borrow money at less than 3 per cent annual interest. The attractive rates, however, are being offered at a very limited period and soon, borrowers may find it …
( read original story …)
UAE bans import of vegetables, fruits from select countries
Dubai: Fruits and vegetables exceeding maximum residue limits (MRL) of pesticides will be banned from importation into the UAE by May 15 to protect human health, officials said on Monday. The Ministry of Climate Change and Environment (MOCCAE) issued an …
( read original story …)
Damac Properties Dubai PSC : Mum and dad investors can buy rooms in new mega-hotel on Trump golf course
DUBAI, UAE – A 2,000 room hotel is to be built on the 55-million square foot estate which has as its focal point the Trump International Golf Club Dubai. The Dubai property market has been sliding for about 3 years now and developers are finding it hard to …
( read original story …)
Expanding cooperation in business between UAE, Azerbaijan
Azerbaijan’s Economy Minister Shahin Mustafayev has visited Dubai, as business leaders from Azerbaijan and the UAE gathered in the financial capital to discuss opportunities to invest in Azerbaijan and boost business relations between the two countries.
( read original story …)
Dubai sees 11% increase in tourists in Q1
Dubai received 11 per cent more overnight visitors in the first three months of the year than in Q1 2016, according to the emirate’s tourism body. Dubai Tourism said growth during the quarter doubled resulting in 4.57 million visitors. This was thanks …
( read original story …)
UAE- Can we expect more GCC IPOs soon?
For example, the #UAE circulated new draft IPO regulations for feedback from stakeholders, setting requirements increasingly in line with international exchanges. Changes for the better Saudi Arabia’s Capital Market Authority (CMA) announced a number of …
( read original story …)
Guy Hands’ Terra Firma sells aircraft leasing investment to Dubai-based rival
Private equity baron Guy Hands has sold an aircraft leasing business his hedge fund Terra Firma has co-owned for more than … (CPPIB), has sold the Dublin-based aircraft lessor Awas to Dubai Aerospace Enterprise, the largest aircraft lessor in the …
( read original story …)
Power failure plunges Dubai Mall into darkness for 90 minutes
Gulf News reader Klaudia Isabella described the scene inside the sprawling shopping complex: “Very calm, people are walking towards exits, shops are closed to enter. Mall starts getting empty. The power is still off.” Dubai mall blackout pic.twitter.com …
( read original story …)
Power failure plunges Dubai Mall into darkness
Gulf News reader Klaudia Isabella described the scene inside the sprawling shopping complex: “Very calm, people are walking towards exits, shops are closed to enter. Mall starts getting empty. The power is still off.” Dubai mall blackout pic.twitter.com …
( read original story …)
Holidays for the filthy rich: The villas in Dubai that might clean you out… they come with bathtubs worth $1MILLION
The much-anticipated XXII Carat villa complex on the celebrity-peppered Palm Jumeriah in Dubai boasts some of the most expensive bathrooms in the world. Set to open later in the year, each of the 22 properties comes complete with deep tubs carved out of …
( read original story …)
Dubai rents to continue dropping, but not for long
There has been talk of rents falling in Dubai for a while now, but many tenants say that they haven’t felt the benefit of the decline. According to CBRE (the world’s leading commercial property and real estate services adviser) the average rent in Dubai …
( read original story …)
Dubai state-backed DAE buys aircraft leasing firm AWAS
Aircraft leasing company Dubai Aerospace Enterprise has agreed to buy rival AWAS, more than tripling the size of its fleet. DAE said Monday it agreed to buy the Dublin-based company from funds managed by its shareholders, Terra Firma Capital Partners and …
( read original story …)
Travel News: Dubai is Booming
Dubai’s tourism sector sustained momentum in its strong start to 2017 with the emirate’s Department of Tourism and Commerce Marketing, known as Dubai Tourism, reporting a stellar 11 percent increase in overnight visitation in the first three months of …
( read original story …)