News

Latest U.A.E. business news broadcasting from well known local newspapers across the country on 24/7 basis to keep you updated with latest developments, market analysis,industry focus and finally the outlook for the economy.

News: After Emarat, Enoc also cuts diesel price  |         News: Dubai’s non-oil foreign trade nears Dh1 trillion in first 9 months  |         News: UAE jumps 14 places in global ICD Development Index  |         News: Dubai soars 11.5 percent as it leads Gulf rebound  |         News: Dubai stocks jump over 9.8% as rally continues  |         News: Why New Year’s Eve fireworks is top draw for Dubai expats  |         News: Global Village visit just got easier  |         News: Emirates To Begin Third Daily Service To Birmingham  |         News: Opec to wait for market to stabilise  |         News: Building A Luxury Brand Image In A Digital World  |         News: Much-awaited free voice calls on BBM for iPhone, BlackBerry, Android phones  |         News: Dubai Developer Omniyat Says 81% Of Units Sold Off In New ANWA Project  |         News: Global village: Around the world in a day  |         News: RTA to auction number plates on Dec.27th  |         News: Show me the money: LuLu CEO Adeeb Ahamed  |         News: Sheikh Mohammed Launches New Strategy, Dubai Plan 2021  |         News: Dubai rated among top destinations for holiday season  |         News: Over 80,000 People To Travel On 240 Emirates Flights On Dec 19  |         News: Food trucks, DIY BBQ and a gold bar cake  |         News: Dubai Int'l arrivals to rise by 36% by 2016 after runways upgrade  |         News: Dubai Duty Free extends 25% pre-Christmas sale  |         News: Is E-Commerce The Best Bet For Middle East Start-Ups?  |         News: REVEALED: Top 10 Companies in UAE In 2014  |         News: DIFF’s 11th edition opens tomorrow with a moving biopic  |         News: UAE internet advertising set for world’s fastest growth  |         News: Smartphone generation: MENA's overnight mobile internet revolution  |         News: ‘Ultimate Airport Dubai’ returns for Season 2  |         News: Google launches Street View in Dubai  |         News: Dubai's DWC inks $40m deal for aircraft painting facility  |         News: Milestone for UAE space agency  |         News: UAE's money exchange industry faces shake-up as costs rise  |         News: Interview with Majed Al Suwaidi  |         News: Dubai Tram: Game Changer?  |         News: Interview: Jumeirah on new lifestyle brand Venu  |         News: Emirates targets US and Italy routes with quick Airbus A380 rollouts  |         News: UAE luxury yacht market remains buoyant  |         News: Dubai Int'l passenger traffic grows by 5.7% in October  |         News: Is business aviation on the rise?  |         News: UAE archives go online with Google  |         News: 2015 will be a ‘Year of Innovation’  |         News: Dubai-Based App Travall To Launch Video Reviews Of Hotels, F&B Outlets  |         News: MasterCard Launches New Digital Payment System, MasterPass In UAE  |         News: UAE green growth strategy to create 160,000 jobs, save billions  |         News: Dubai Expo 2020: First milestone in six-year journey  |         News: BMW intent on staying number one in the Middle East  |         News: Dubai taxi flagdown rates revised from December 1  |         News: Taxi rates to rise in Dubai from December 1  |         News: Du signs deal with Travelling Connect for inbound roamers  |         News: GCC Petrochemical Revenues Reach $89.4bn In 2013  |         News: Dubai to attract over 381,000 cruise passengers this season  |         News: Revealed: The world’s 100 Most Powerful Arabs  |         News: Battle is on for hearts and minds of UAE employees  |         News: Emirates Targets 8-10% Profit Growth On New Aircraft, Routes  |         News: Astellas aims to introduce cancer medicines in UAE  |         News: Dubai all set to host parachuting championships  |         News: Emirates targets at least 8-10% profit growth on new aircraft, routes  |         News: Tried & Tested: First review of the Dubai Tram  |         News: Dubai ranked world's #1 city to live and work in  |         News: Etisalat aims to be first in the Middle East to deploy 5G technology  |         News: Nakheel to build $40m boardwalk along Palm Jumeirah breakwater  |         News: Mubadala-owned software services provider Injazat to open Qatar office  |         News: Spanish Firm Appointed To Operate Hollywood, Bollywood Theme Parks In Dubai  |         News: Gold will always shine  |         News: Souq.com Plots MENA Black Friday Sales Weekend  |         News: UAE boat builder Al Marakeb aims to make waves in unmanned vessels  |         News: Dubai World close to agreeing deal to extend $10.5bn debt settlement  |         News: Hard Rock Hotel To Open In Dubai Marina  |         News: OPEC says oil price to rebound by Q2 next year  |         News: UAE credit bureau starts retail ops, to cover companies next year - CEO  |         News: Dubai's DP World to buy Jebel Ali Free Zone owner for $2.6bn  |         News: Dubai needs to invest $2bn building 51 new schools by 2020, says report  |         News: Dubai Tram essential guide  |         News: Get in the Ring for investment opportunity  |         News: Accor To Double ME Inventory, Invest €225 Million In Digital  |         News: Oil companies look to Emirati workers amid sector-wide skills crunch  |         News: The bravest thing Branson could do right now is hang up his space helmet  |         News: Meet the man who created YouTube but what did Chad Hurley do next?  |         News: Dubai’s Sheikh Mohammed establishes new award for world peace  |         News: UAE Industrial momentum  |         News: UAE economic recovery at fast pace: IMF  |         News: Dubai repays $1.93bn debts taken out before crisis  |         News: Emirates Airline looks to free Wi-Fi on entire fleet  |         News: UAE’s Etisalat Q3 Net Profit Rises 22%  |         News: Gold and silver extend losses, struggle near 4-yr lows  |         News: Dubai Tram traffic rules, fines: What you must know  |         News: How To Rule The World Like… Elon Musk  |         News: Dubai firms urged to list locally to compete globally  |         News: Emirates NBD lists first NZ currency bond on Dubai bourse  |         

News

After Emarat, Enoc also cuts diesel price

30/Dec/2014

The revised price is applicable across entire service station network of Enoc and Eppco. (Supplied)

After Emarat, Enoc also cuts diesel price

After petroleum products retailer Emarat announced 20 fils cut on Monday

Dubai’s non-oil foreign trade nears Dh1 trillion in first 9 months

29/Dec/2014

China was Dubai’s top foreign trade partner in the first nine months of 2014 with a trade value of Dh126bn, up 27%.



Emirate’s trade with Asia reached Dh610bn followed by Europe at Dh198bn and Africa at Dh89bn

Dubai has managed

UAE jumps 14 places in global ICD Development Index

29/Dec/2014

UAE achieves highest increase worldwide in ICT Development (IDI) Index. (File)

Emirate classified as being 'most dynamic'

The Telecommunications Regulatory Authority (TRA) announced that the UAE has made significant progress in its global ranking in t

Dubai soars 11.5 percent as it leads Gulf rebound

28/Dec/2014

(Updated 12:20pm) Stock markets in Saudi Arabia and the United Arab Emirates soared on Thursday after the price of oil rebounded and the Riyadh government eased investors' fears by saying it would continue spending heavily on economic development.
Saudi Arabia's bours

Dubai stocks jump over 9.8% as rally continues

28/Dec/2014

(Update 11:11): Gulf stock markets rose sharply in early trade on Sunday, continuing a rally which began on Thursday after Brent crude oil bounced back above $60 a barrel and Saudi Arabia's government said it would continue spending heavily despite cheaper oil.
Dubai'

Why New Year’s Eve fireworks is top draw for Dubai expats

27/Dec/2014

The public watching spectacular Fire works at Burj Al Arab during new year 2014 celebration in Dubai.

If you want to catch Dubai's spectacular New Year's Eve fireworks, get ready to reach your planned viewing spot earlier than usual on December 31

Dub

Global Village visit just got easier

27/Dec/2014

Global Village continues to grow every season with new attractions and this year’s additions include new country pavilions – America, Cambodia and Iraq.


Self-service ticket machines to reduce rush at venue while officials mull online ticket sal

Emirates To Begin Third Daily Service To Birmingham

24/Dec/2014

The additional service will increase passenger and cargo capacity to and from Birmingham by 42 per cent, the airline said.

Dubai-based carrier Emirates has announced that it will begin a third daily service to Birmingham from August 1, 2015.

The servi

Opec to wait for market to stabilise

24/Dec/2014

UAE energy minister says non-Opec countries should answer about the price

The Organisation of the Petroleum Exporting Countries (Opec) will wait for the market to stabilise and will not quote a price, UAE energy minister Suhail Mohammad Faraj Al Mazroui said in

Building A Luxury Brand Image In A Digital World

22/Dec/2014

Luxury managers often see digital media as a threat, but digital channels offer powerful connections with customers, say David Dubois, INSEAD assistant professor of marketing and Debbie Teo, INSEAD MBA ‘12.

“Hermès has no desire to become “

Much-awaited free voice calls on BBM for iPhone, BlackBerry, Android phones

22/Dec/2014

Feature allows users to make calls to anyone using BBM messenger

Looks like the ban on one of BlackBerry Messenger’s most sought after feature - BBM Voice - has been lifted.

A new update rolled out by BlackBerry in the UAE since Thursday has sil

Dubai Developer Omniyat Says 81% Of Units Sold Off In New ANWA Project

21/Dec/2014

The Dhs600 million seafront project registered Dhs432 million in sales during the first phase of launch.

Dubai developer Omniyat said that it sold 81 per cent of units in its newly unveiled ANWA project during the first phase of launch.

The company re

Global village: Around the world in a day

21/Dec/2014

Array of pavilions never cease to amaze visitors, expanding their cultural horizons year after year

Dubai: Once a ticket has been purchased to enter the cultural wonderland; senses are heightened as they are put to the test.
With the winter breeze brushing

RTA to auction number plates on Dec.27th

20/Dec/2014

Plates comprising two, three, four and five-digits will be offered

About 100 plates will be auctioned on December 27th

The Licensing Agency at the Roads and Transport Authority (RTA) is set to launch the 85th Open Auction for distinguished vehicle num

Show me the money: LuLu CEO Adeeb Ahamed

20/Dec/2014

Adeeb Ahamed is proud of his achievements. In just five years, he managed to transform LuLu International Exchange from a humble one-branch operation to a network of 100 outlets spread across six countries. Back then the global financial crisis was at its height.
R

Sheikh Mohammed Launches New Strategy, Dubai Plan 2021

18/Dec/2014

The plan outlines the emirate’s development framework over the next seven years.

UAE VP and PM and Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum has launched Dubai Plan 2021, a new strategy outlining the emirate’s development framework over the n

Dubai rated among top destinations for holiday season

18/Dec/2014

Dubai-based Emirates airline also expects this week to be its busiest of 2014, as travellers head home or abroad for the holiday season. (Ashok Verma)

Busiest day for people jetting around globe will be Friday, December 19

British Airways has rated Du

Over 80,000 People To Travel On 240 Emirates Flights On Dec 19

17/Dec/2014

The Dubai-based carrier is preparing for its ‘busiest’ week of 2014.

Dubai-based airline Emirates is preparing for what it expects to be its “busiest week of 2014”, as travellers head home or abroad for the holiday season.

The

Food trucks, DIY BBQ and a gold bar cake

17/Dec/2014

What’s the Catch?
New York restaurants are moving to the UAE in a big way. After China Grill, it’s time for Catch — a modern seafood restaurant in the Meatpacking district — to open its doors over here. Although it’s got a relaxed, distre

Dubai Int'l arrivals to rise by 36% by 2016 after runways upgrade

16/Dec/2014

Recent runway improvements at Dubai International Airport will increase hourly aircraft arrivals from 33 to 45 by 2016, an official has said.
Mohammed Ahli, director general of the Dubai Civil Aviation Authority, said new technlogy will allow aircraft to vacate runway

Dubai Duty Free extends 25% pre-Christmas sale

16/Dec/2014

Dubai Duty Free said on Sunday that its annual anniversary promotion will be spread over three days for the first time from December 18-20.
A wide range of items will have prices cut by 25 percent over the three days, the retailer said in a statement.
This is the

Is E-Commerce The Best Bet For Middle East Start-Ups?

15/Dec/2014

The Middle East’s e-commerce space has been booming over the last few years, with a recent report by payment solutions provider Payfort, suggesting regional e-commerce sales could touch $15 billion by 2015, up from $9 billion in 2012.

Competitive pricing a

REVEALED: Top 10 Companies in UAE In 2014

15/Dec/2014

The biggest listed businesses in the Emirates valued by market capitalisation.

In the UAE, according to IIF estimates, tourism, transportation, and trade will boost non-hydrocarbon growth to 5.2 per cent in 2014, but real GDP growth will be moderate in the comin

DIFF’s 11th edition opens tomorrow with a moving biopic

14/Dec/2014

Academy Award winning director James Marsh’s film ‘The Theory of Everything’, an extraordinary story of Stephen Hawking opens the 11th Edition of the Dubai International Film Festival (DIFF).
Starring Eddie Redmayne as the extraordinary physicist and

UAE internet advertising set for world’s fastest growth

14/Dec/2014

PWC said internet advertising would grow at a compounded rate of 10.7 per cent a year to reach $195bn by 2018. Pawan Singh / The National

Internet advertising in the UAE is set to grow the fastest in the world, according to research from PWC.

The year

Smartphone generation: MENA's overnight mobile internet revolution

11/Dec/2014

What is the single indicator related to the online market opportunity in the UAE and Saudi Arabia that beats all other developed and developing countries? Just take a look at people in coffee shops, malls, or even at family gatherings, you'll notice immediately that everyo

‘Ultimate Airport Dubai’ returns for Season 2

11/Dec/2014

National Geographic series gives all-access pass to one of the world’s busiest airports

For a hub as massive as the Dubai International Airport — where more than 180,000 passengers pass through a single day, and where more than 90,000 people work to

Google launches Street View in Dubai

10/Dec/2014

Google has launched its Street View application in Dubai.
The technology gives digital users a 360 degree, panoramic and street-level view of the main streets, attractions and towers in the city.
Dubai is the first Arab city to have a complete Google Street View.

Dubai's DWC inks $40m deal for aircraft painting facility

10/Dec/2014

(Photo for illustrative purposes only)



Dubai World Central, the world's first purpose-built aerotropolis, announced on Tuesday the signing of a strategic agreement with STTS Group to invest in

Milestone for UAE space agency

10/Dec/2014

The UAE space agency has officially launched its social media platforms on the occasion of the country’s 43rd National Day.

Twitter, Facebook, Instagram and Google + will be used regularly by the agency to keep followers and public informed about the UAE&#

UAE's money exchange industry faces shake-up as costs rise

08/Dec/2014

Some money exchange firms in the United Arab Emirates may have to merge and others could be forced to close as they struggle with rising capital and compliance costs and some banks refuse to do business with them, the head of an industry body said.
The UAE's majority

Interview with Majed Al Suwaidi

08/Dec/2014

Majed Al Suwaidi, managing director of TECOM Investments two largest free zone parks – Dubai Internet City (DIC) and Dubai Outsource Zone (DOZ) – has witnessed a lot in the past 15 years.
Between 1999’s decision by HH Sheikh Mohammed Bin Rashid Al Ma

Dubai Tram: Game Changer?

07/Dec/2014

The inauguration of the Dubai Tram was a much-publicised affair in the city, with the emirate now becoming the first to introduce a tramway system in the entire Middle East region.

The tramway also boasts many other ‘firsts’; it is the first outside

Interview: Jumeirah on new lifestyle brand Venu

07/Dec/2014

Three years after scrapping plans for Venu Hotels, Jumeirah has revived the lifestyle concept.

Emirates targets US and Italy routes with quick Airbus A380 rollouts

04/Dec/2014

Emirates Airline has 55 Airbus A380s in its fleet with 85 more to come. Aziz Shah / AP Photo

Leading superjumbo operator Emirates has begun a blitz on western markets that will bring three more cities in

UAE luxury yacht market remains buoyant

04/Dec/2014

Most buyers come from the Arabian Gulf, Russia and Europe

Dubai: Superyachts in the UAE have caught a wave of fresh interest over the last year from residents of the Arabian Gulf, Russian and European tourists.
The market for superyachts, which are more tha

Dubai Int'l passenger traffic grows by 5.7% in October

03/Dec/2014

Passenger traffic at Dubai International Airport, one of the world's busiest in the world, rose 5.7 percent from a year earlier in October to 5.99 million people, the airport operator said on Tuesday.
In the first 10 months of this year, traffic climbed 6.1 percent to

Is business aviation on the rise?

03/Dec/2014

On a global scale, experts have been touting the business aviation industry to continue its year-on-year growth. According to Honeywell Aerospace’s latest Global Business Aviation Forecast, jet operators across the world can expect to enjoy an average predicted annua

UAE archives go online with Google

01/Dec/2014

ABU DHABI // The National Archives has partnered with Google to launch a digital exhibit on the foundation of the UAE available online from Monday.

The exhibit, showcased through the Google Cultural Institute, includes documents, photos and videos related to the

2015 will be a ‘Year of Innovation’

01/Dec/2014

ABU DHABI // The Cabinet met in a 500-year-old castle on Sunday to approve the designation of 2015 as the Year of Innovation, in a plan to make the UAE a world innovative leader.

At its special meeting in Fujairah’s historic fort, the Cabinet directed all

Dubai-Based App Travall To Launch Video Reviews Of Hotels, F&B Outlets

30/Nov/2014

The smart app aims to create a comprehensive Dubai video guide for travellers, relocating executives and residents.

A new Dubai-based app, Travall, will offer video reviews of the city’s hotels and F&B venues when it launches early December.

MasterCard Launches New Digital Payment System, MasterPass In UAE

30/Nov/2014

RAK Bank, Mashreq and Emirates NBD will offer digital wallets using the MasterPass system in the UAE.

Payments solutions provider MasterCard announced that it has launched its digital payment system, MasterPass, in the UAE.

Digital wallets using Maste

UAE green growth strategy to create 160,000 jobs, save billions

27/Nov/2014

Dh6.5b annual savings in water, power consumption seen

Abu Dhabi: The UAE will create 160,000 jobs by 2030 and save billions of dirhams annually by implementing its ‘green growth’ strategy, a workshop in the capital heard on Monday.
The nation w

Dubai Expo 2020: First milestone in six-year journey

27/Nov/2014

Dubai has made an impressive start to its preparatory stage which was presented for an annual review to the BIE officials in Paris yesterday

Dubai: A year to this day the UAE won the right to host the World Expo 2020 in Dubai.
Some of the top bidding nation

BMW intent on staying number one in the Middle East

26/Nov/2014

In some ways, Johannes Seibert looks like he has a pretty easy job on his hands. The German national took over as managing director for BMW’s Middle East operations in February this year, at a time when the car manufacturer is taking an increasingly dominant role in

Dubai taxi flagdown rates revised from December 1

26/Nov/2014

Taxi meters will continue to run at the same rate, which is Dh1.71 per km

ubai: The flag down rates of taxis in Dubai will increase from Dh3 to Dh5 from December 1, the Roads and Transport Authority (RTA) has announced.
RTA has also revised the basic charge

Taxi rates to rise in Dubai from December 1

25/Nov/2014

Taxi starting rates in Dubai are set to increase from AED3 ($0.81) to AED5 during the peak hours of 7-10am and 4-8pm, the emirate's transport authority said on Monday.
The Roads and Transport Authority (RTA) said it has approved the modification of taximeter starting

Du signs deal with Travelling Connect for inbound roamers

25/Nov/2014

Visitors can earn two miles or points per minute on voice and three miles or points per 1MB data usage

Dubai: Telecom operator du expects between 20 and 22 per cent year-on-year growth in roaming revenues next year with the signing of a rewards programme deal wi

GCC Petrochemical Revenues Reach $89.4bn In 2013

24/Nov/2014

Petrochemical revenues from the region grew by $6 billion between 2012 and 2013, increasing 7.3 per cent, a new report shows.

Revenue earned by the GCC’s petrochemical industry amounted to $89.4 billion in 2013, according to the latest report by Gulf Petro

Dubai to attract over 381,000 cruise passengers this season

24/Nov/2014

Passenger numbers are likely to rise by 19% over 2013/2014

Dubai: More than 381,000 cruise passengers are expected to arrive at Dubai’s Mina Rashid this season (October 2014 to June 2015).
Passenger numbers are likely to rise by 19 per cent over the 2

Revealed: The world’s 100 Most Powerful Arabs

23/Nov/2014

Welcome to the Power 100 – our exclusive guide to the 100 most powerful Arabs on the planet. For the tenth year running, Arabian Business has published the names of the Arab men and women right across the world that are making a huge difference.
And this year, w

Battle is on for hearts and minds of UAE employees

23/Nov/2014

Be prepared to go the extra mile on benefits to retain talent, says MetLife findings

Dubai: Providing health insurance by itself may no longer be enough for UAE companies to retain their best talent. With mandatory health insurance becoming the norm in Dubai, as

Emirates Targets 8-10% Profit Growth On New Aircraft, Routes

22/Nov/2014

Emirates' bottom line was hit by runway upgrades in the first six months of the 2014, resulting in modest growth of eight per cent.

New aircraft and fresh routes will help Dubai’s flagship carrier Emirates grow profit by no less than eight to 10 per cent i

Astellas aims to introduce cancer medicines in UAE

22/Nov/2014

The Japanese drug maker Astellas is looking to introduce one of its best-selling cancer medicines in the UAE – and to start manufacturing drugs in the country by 2019.

From its Dubai office, which opened on Thursday, it plans to market its products in the

Dubai all set to host parachuting championships

22/Nov/2014

More than 1,000 confirmed for fifth edition from November 26 to December 7

Dubai: More than 1,000 competitors from across the world have confirmed entry for the fifth Dubai International Parachuting Championships (DIPC) to be held at the Skydive Dubai Palm drop

Emirates targets at least 8-10% profit growth on new aircraft, routes

20/Nov/2014

New aircraft and fresh routes will help Dubai's flagship carrier Emirates grow profit by no less than eight to ten percent in coming months, its president said on Wednesday.
"We will continue to grow at a percentage which is never going to be less than about 8-10 perc

Tried & Tested: First review of the Dubai Tram

20/Nov/2014

After its big fanfare launch last night, and subsequent traffic chaos, Dubai Tram opened to the public this morning.
The first thing you notice about the latest addition to the public transport network is how slow it is – or at least how much slower it is when c

Dubai ranked world's #1 city to live and work in

19/Nov/2014

Survey of 835 INSEAD alumni highlights allure of UAE to new generation of top global business talent

The UAE’s commercial capital and its most cosmopolitan city, Dubai, has been identified as the most attractive city in the world to live in in terms of pro

Etisalat aims to be first in the Middle East to deploy 5G technology

19/Nov/2014

Etisalat aims to become the first phone company in the region to deploy high-speed 5G technology, the company’s chief executive said yesterday.

“We will deploy 5G in the coming few years,” said Ahmad Julfar, Etisalat’s group chief executi

Nakheel to build $40m boardwalk along Palm Jumeirah breakwater

19/Nov/2014

Dubai developer Nakheel has signed AED150 million ($40.8 million) contract for The Boardwalk, a new 11km waterfront attraction on Palm Jumeirah, it was announced on Sunday.
Contractor Overseas AST Company LLC has been appointed to build The Boardwalk and work is sched

Mubadala-owned software services provider Injazat to open Qatar office

18/Nov/2014

Injazat Data Systems is opening an office in Qatar before the end of the year in its first step towards regional expansion. The software services provider, which is now wholly owned by Abu Dhabi’s Mubadala after it acquired a 40 per cent stake from Hewlett-Packard la

Spanish Firm Appointed To Operate Hollywood, Bollywood Theme Parks In Dubai

18/Nov/2014

Madrid-based Parques Reunidos will operate the two theme parks coming up within the bigger Dubai Parks & Resorts Complex.

Dubai Parks and Resorts, the Meraas Holding company developing the emirate’s massive theme parks project, announced that it has ap

Gold will always shine

17/Nov/2014

A recent visit to the gold market at Al Batha souk in downtown old Riyadh convinced me that the female appetite for the ultimate yellow metal remains extraordinarily high.
Shops were packed with lustrous gold Bedouin jewellery, necklaces, sparkling rings, and bracelet

Souq.com Plots MENA Black Friday Sales Weekend

17/Nov/2014

MENA Online retailer looks to follow the success of behemoth Alibaba, which generated $9 billion worth of e-commerce sales during China's recent Singles Day.

Online retailer Souq.com has announced plans to bring one of America’s biggest shopping days to th

UAE boat builder Al Marakeb aims to make waves in unmanned vessels

16/Nov/2014

The UAE boat builder Al Marakeb aims to become the world’s first mass producer of Unmanned Service Vessels (USVs) for use in sectors including marine defence and international shipping.

The Sharjah-based company yesterday announced that it had signed a dea

Dubai World close to agreeing deal to extend $10.5bn debt settlement

16/Nov/2014

Dubai World, one of the emirate's big state-owned conglomerates, is close to finalising a deal that will extend the debt repayments on a $10.5 billion worth of loans until 2022, according to reports.
Quoting an unnamed adviser to Dubai World, The National newspaper re

Hard Rock Hotel To Open In Dubai Marina

15/Nov/2014

The hotel, being developed in partnership with Abu Dhabi Financial Group and real estate developer Sheffield Holdings, will be situated in Marina 101 in Dubai Marina.

International hospitality chain Hard Rock International has announced that it will open the Mid

OPEC says oil price to rebound by Q2 next year

15/Nov/2014

Fundamental factors do not justify the sharp drop in oil prices, OPEC Secretary-General Abdullah al-Badri has said, forecasting a price rebound by the second half of 2015.
“We are concerned but we are not panicking," he told reporters at a news conference on the

UAE credit bureau starts retail ops, to cover companies next year - CEO

13/Nov/2014

The United Arab Emirates' credit bureau has begun covering retail customers and plans to extend its work to companies next year, its chief executive said on Wednesday.
The much-delayed Al Etihad Credit Bureau now has financial information on 2.8 million individuals or

Dubai's DP World to buy Jebel Ali Free Zone owner for $2.6bn

13/Nov/2014

DP World, one of the world's largest port operators, has agreed to buy Dubai industrial and logistics infrastructure firm Economic Zones World (EZW) for $2.6 billion, the company said in a statement on Thursday.
The purchase of EZW, currently owned by Port and Free Zo

Dubai needs to invest $2bn building 51 new schools by 2020, says report

12/Nov/2014

Dubai’s rapidly growing population will mean it will need to invest millions in its education sector to meet demand for new schools, according to a new report by real estate consultancy firm Colliers International.
"In the last decade, the private education sect

Dubai Tram essential guide

12/Nov/2014

The lowdown
The Dubai Tram will travel on a loop from Al Sufouh up to Dubai Marina, around the development and back again, on a track that runs 10.6km in total. Each journey will pass 11 stations, including Dubai Knowledge Village, Dubai Media City, Dubai Internet Cit

Get in the Ring for investment opportunity

11/Nov/2014

Starting a business can be hard. It can make you feel like you are in an everyday battle facing off against other start-ups or larger companies. Like you are in the ring, going 12 rounds with your competitors.
But there is one particular ring into which most start-up

Accor To Double ME Inventory, Invest €225 Million In Digital

10/Nov/2014

French hospitality giant confident about region's outlook and identifies eight key tech areas

Accor HotelServices Middle East plans to double its Middle East room count to over 30,000 by 2020.

The group’s Chairman and CEO Sébastien Bazin &#

Oil companies look to Emirati workers amid sector-wide skills crunch

10/Nov/2014

Oil firms are looking to bridge the skills gap in the industry while increasing the local workforce.

The oil and gas industry has suffered from skill shortages for more than two decades, but companies operating in the UAE find it even harder to entice nationals

The bravest thing Branson could do right now is hang up his space helmet

09/Nov/2014

As anyone who follows Formula One will tell you, there is a great story from 1976 that really defines the career of the legendary driver Niki Lauda. Just six weeks after suffering horrific burns during a race at the German Grand Prix, Lauda returned to the track for the fi

Meet the man who created YouTube but what did Chad Hurley do next?

09/Nov/2014

As Chad Hurley and I prepare to sit down for our interview, an Arab woman interrupts to ask for a photograph. “It’s for my daughter, who loves you,” she says.
Hurley is no model and he has never graced the silver screen but at a science and technolog

Dubai’s Sheikh Mohammed establishes new award for world peace

08/Nov/2014

Dubai’s ruler, Sheikh Mohammed bin Rashid Al Maktoum, on Thursday issued a decree establishing the Mohammed bin Rashid Al Maktoum Award for World Peace (MRAWP), the official state news agency WAM reported.
Sheikh Mohammed, who is also UAE Vice President and Prim

UAE Industrial momentum

08/Nov/2014

Over the past 12 months, with a number of key developments supported by government investment, the UAE has experienced an encouraging increase in demand for industrial space. The uptick in the sector has been helped by the improved economic climate, which is helping to mai

UAE economic recovery at fast pace: IMF

06/Nov/2014

Welcomes stable real estate prices in Dubai as sales in summer moderated

The UAE economy, the Arab world's second largest, is recovering at fast pace from the global financial crisis, the IMF said on Wednesday.

"Economic recovery has continued at a so

Dubai repays $1.93bn debts taken out before crisis

05/Nov/2014

Dubai has repaid $1.93 billion it raised from Islamic bonds (sukuk) during the crisis.
The bonds, which were issued on October 28, 2009, were paid on the due date (November 3).
Abdul Rahman Saleh Al Saleh, Director-General of Dubai’s Government’s depa

Emirates Airline looks to free Wi-Fi on entire fleet

05/Nov/2014

Emirates Airline has seen the future, and it comes with free Wi-Fi.

The Dubai airline yesterday said that it would retrofit all of its fleet with Wi-Fi and expected the service to be complimentary. The news came after the airline enjoyed a 200 per cent increase

UAE’s Etisalat Q3 Net Profit Rises 22%

04/Nov/2014

Almost half of Etisalat's third-quarter revenue came from its international operations.

Abu Dhabi-listed Etisalat reported a 22 per cent rise in third-quarter net profit on Wednesday as rising domestic income, lower taxes and the firm’s takeover of Maroc T

Gold and silver extend losses, struggle near 4-yr lows

04/Nov/2014

Gold and silver extended sharp losses on Monday to trade near their lowest in four years, with a stronger US dollar and possible technical selling likely to keep them under pressure.
Spot gold had dropped 0.7 percent to $1,165.20 an ounce by 0038 GMT, stretching its d

Dubai Tram traffic rules, fines: What you must know

03/Nov/2014

The moment Dubai Tram commences operations is near. Accessibility will be improved with the transportation network of Dubai getting more exciting.

The tram will cross over bridges, crawl through crowded streets and ride parallel to Sheikh Zayed Road.

How To Rule The World Like… Elon Musk

03/Nov/2014

Musk is the founder and CEO of SpaceX, CEO of Tesla Motors and chairman of SolarCity.

REACH FOR THE STARS
Dubbed the real ‘Iron Man’, Elon Musk, the billionaire founder of spacecraft-maker SpaceX, has a $1.6 billion contract with NASA to resuppl

Dubai firms urged to list locally to compete globally

02/Nov/2014

Dubai official urges firms to enhance mergers and acquisitions

A senior official of the Dubai government’s advisory council has urged local companies to list on the local markets and also enhance mergers and acquisitions in order to face the global challen

Emirates NBD lists first NZ currency bond on Dubai bourse

02/Nov/2014

NASDAQ Dubai, the region's international stock exchange, has welcomed the listing of a 100 million New Zealand dollar ($78.1 million) conventional bond by Emirates NBD.
The bond is the first to list on a GCC exchange in New Zealand's currency, reflecting NASDAQ Dubai'