This continues to drive the economy and the improvement in government and business efficiency,” said Professor Arturo Bris, director of the IMD World Competitiveness Centre. In the region, the UAE continued to lead with the highest competitiveness score …
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Abu Dhabi index leads regional losses on selling in banks
Dubai: The Abu Dhabi index fell more than 1.5 per cent weighed by selling in First Abu Dhabi Bank and Aldar Properties. The Abu Dhabi Securities Exchange closed 1.65 per cent lower at 4,427.30. First Abu Dhabi Bank closed 3.65 per cent lower at Dh10.55 …
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Dubai property marketing permit procedures must be followed
I have a question with regards to the new law recently introduced, mandating that real estate brokers must now obtain a permit prior to advertising any property for rent or sale. Furthermore, my understanding is that the broker must submit a copy of the …
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ADX hosts six AGMs using blockchain technology
Dubai: The Abu Dhabi Securities Exchange (ADX) recently held annual general meetings (AGMs) for six listed companies (two private joint stock companies and four public joint stock companies) using Blockchain technology. The move enhanced transparency and …
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UAE-backed forces gain control over Aden airport
SANAA, Yemen – Yemeni security officials say that forces backed by the United Arab Emirates have taken over the airport in the southern city of Aden, further fueling tension between internationally recognized President Abed Rabbo Mansour Hadi and the UAE.
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Canadian Solar to supply panels for Dubai project
More than 800,000 solar panels will be needed to complete the first wave of the Masdar-led project to build the third phase of the Mohammed bin Rashid Al Maktoum solar park in Dubai. Canadian Solar this month began production and shipping of the 22,000 …
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UAE banking sector crisis: 3,000 jobs cut
*UAE banks counting the cost of weakening economy and competitive market The banking sector in the country has been in a state of upheaval over the past 12 months after 3,000 jobs were slashed in the UAE’s two main cities, Abu Dhabi and Dubai.
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Dubai unveils strategy to fight cyber threats
Dubai: The Dubai Cyber Security Strategy was launched on Wednesday to strengthen Dubai’s position as a world leader in innovation, safety and security and manage cyber security risks among establishments and residents in Dubai. The strategy was launched …
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57% of UAE residents expect spending hike during Ramadan
Dubai: Despite assurances that retailers will slash the prices for basic essentials during Ramadan, the majority of residents in the UAE are still anticipating an increase in household spending throughout the fasting period, a new survey suggests …
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Worshippers get parking relief near mosques in Dubai
Dubai: Worshippers rushing to the mosques following iftar can breathe a sigh of relief as they get a grace of 45 minutes from the time of Maghrib Azaan (dusk prayers), Gulf News can confirm. A Roads and Transport Authority (RTA) spokesperson told Gulf News …
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UAE witnesses trafficking trend of liquid cocaine
Dubai: The UAE has identified a new trend for trafficking drugs in the form of liquid cocaine, according to an Interpol report published on Tuesday. Operation Lionfish – ASEAN, which involved more than 2,000 police and customs officials across 14 …
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Cabinet approves establishment of UAE Sharia Ifta Council
Abu Dhabi: The Cabinet has approved the establishment of a UAE Sharia Ifta Council as a religious entity to unify, regulate and streamline Islamic fatwas in the country, highlight the tolerance of Islam, and reduce the difference over Sharia issues and …
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Why Dubai is a hotspot for property investors
From its beginnings as a fishing and pearling port, Dubai has morphed into a glittering global marvel today. It has defied the norms and defined the extraordinary to captivate the world. Glamour and grandeur have now been synonymous with Dubai as it builds …
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German Authorities Target British Investor for Tax Evasion
He currently lives in Dubai. Former senior people at the Hamburg-based bank … In September 2015, Mr. Shah’s now defunct London-based hedge fund, Solo Capital, transferred €222 million to an account at Varengold Bank in Hamburg. The acount belonged …
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Middle East Crude-Benchmarks weaken as July trade slows
Cash Dubai widened to 59 cents below swaps … kingdom’s policy of cooperation with major oil producers to rebalance markets and limit volatility. *Hedge fund managers had already closed out many of their bearish short positions in crude oil before …
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Buy now, pay later deals spur Dubai property market
Developers have used payment plans as a key tool to reinvigorate the real estate market since 2014, changing from mostly front-loaded to back-ended payment plans. In 2013, more than 80 per cent of launches had payment terms that were front-ended, whereas …
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UAE forms Fatwa Council to advocate moderate Islam
… board members of the Higher Sharia Board for Banking and Finance to strengthen consistency of the Islamic finance industry across the UAE. The Board is responsible for setting rules, standards and general principles for banking and financial …
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