UAE’s Ministry of Finance (MoF) signed an agreement with Dubai Health Authority (DHA) to adopt the e-Dirham system and e-Dirham cards as a means of paying for government services provided by DHA. The Memorandum of Understanding (MoU) was signed by Saeed …
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MOVES-Mashreq's Iossifidis to become CEO of Noor Bank – sources
DUBAI, April 3 (Reuters) – The head of corporate and investment banking at Dubai’s Mashreq is leaving to become chief executive of Noor Bank, sources familiar with the matter told Reuters on Monday. Mashreq, Dubai’s third-biggest bank by assets …
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NBAD, FGB merge, now 'First Abu Dhabi Bank'
Dubai: The National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB) announced on Sunday they have merged to become First Abu Dhabi Bank. In a joint statement, the banks said their merger was legally completed on April 1, and the merged bank began …
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Why investing in Dubai property is a good idea
Here are just a few reasons for investors to consider committing to the Dubai real estate sector: 1. Expo 2020 is coming to Dubai Dubai is hosting the next World Expo in October 2020. The Expo will attract approximately 25 million visitors from 180 nations.
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10 best countries to start your business in 2017
The report analyses 189 economies on 11 parameters of business processes. UAE: Rank 26 UAE ranks 26th in ease in doing business, coming up from 60th position in 2016. The reforms made this year include streamlining of name reservation and articles of …
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Why family business owners in UAE are seeking dual nationality
Dubai: A growing number of business owners in the UAE is looking to get a second passport, not just to see the world freely and secure better quality of life for their family, but also to skip red tape as they diversify their assets and expand their …
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Dubai is always open for business
Dubai’s ability to attract foreign direct investment and sustain its ranking among the top 10 in the world is no mean feat. Especially so when global growth remains weak and volume of foreign direct investment continues to fall worldwide. Last year, the …
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Will UAE apply VAT on expat remittances too?
“I am not aware of any UAE official information on VAT in relation to the remittance service. However, if the new VAT laws follow the similar practice in the EU countries, these transactions [fees charged by financial services for the remittance services …
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Dubai's success in maintaining capital inflow, number of new FDI projects is a major achievement
Dubai’s competitive business environment that creates unique and diverse opportunities for foreign investors stems from the vision and directives of Their Highnesses, he said.
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First Abu Dhabi Bank to attract more investors to bourse
Dubai: The start of share trading on First Abu Dhabi Bank is expected to attract more investors to the Abu Dhabi bourse and reflect positively on overall trading, according to the bourse’s chief executive. In a statement on Sunday, Rashed Al Balooshi …
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FGB, NBAD merger creates UAE's largest bank
Following the legal completion of the merger between First Gulf Bank (FGB) and National Bank of Abu Dhabi (NBAD) on April 1, 2017, the combined bank began trading on the Abu Dhabi Securities Exchange (ADX) today under ticker symbol ‘NBAD’. Reflecting the …
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Fire hits Dubai high-rise complex near world's tallest tower
An inferno burned early Sunday in a high-rise tower complex being built alongside Dubai’s largest mall, its thick black smoke shrouding the world’s tallest building nearby in this desert metropolis where skyscraper blazes remain a worry. Though authorities …
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Fire engulfs 72-storey skyscraper in downtown Dubai
An inferno burned early Sunday in The Address Residences Fountain Views, a high-rise tower complex being built alongside Dubai’s largest mall.
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UAE businesses face late payments
UAE companies, particularly SMEs, faced financial hurdles in 2016 after having to wait twice as long for payments. 2016 saw low recovery and low growth in the GCC due to the recent drop in the oil price, which impacted the liquidity in the market …
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Fire rips through highrise near Dubai's Burj Khalifa
DUBAI, United Arab Emirates — An inferno burned early Sunday in a high-rise tower complex being built alongside Dubai’s largest mall, its thick black smoke shrouding the world’s tallest building nearby in this desert metropolis where skyscraper blazes …
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Aldar Properties awards AED500 mln contract for Mayan development
Aldar Properties, Abu Dhabi’s leading listed property development, investment and management company, has awarded its main contract for Mayan, a luxury residential development located on Yas Island, to Ghantoot General Construction, one of the leading …
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Dubai property market to ‘bottom out’ before end of 2017
Dubai’s property market is stabilising and is on track to “bottom out” before the end of 2017, a new report by real estate consultancy Cluttons has found. While prices in the residential market continued to drop in the first quarter of the year, the …
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