News

  • IT'S A BUYER'S MARKET

    Hamir Asher, GM of Indus Real Estate, advises buyers to invest in property for the long term to maximize gains.    You can’t go wrong with property investment if you’re doing it for the long term. Hamir Asher, general manager of Indus Real Estate, says this is the one big advise he ...

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  • Dubai real estate proves its worth with impressive show in first eight months of 2016

    The official real estate regulatory body said property transactions worth more than AED 158 billion ($43 billion) were recorded in Dubai in the first eight months of 2016, spread over 38,800 sales, mortgages and other transactions. Even in the summer months of June July and August, traditionally considered a slow time ...

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  • Saudi raises visa fees, traffic fines to boost revenues

    Saudi Arabia’s cabinet, seeking to boost state revenues in an era of low oil prices, approved proposals to raise a range of government fees including visa charges and fines for some traffic violations, the official SPA news agency said on Monday.   Cheap oil has slashed the government’s revenues from ...

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  • Dhabi Contracting bags AED1.5 billion deal for Nakheel's Al Khail Avenue

    Dubai property developer Nakheel has signed an AED1.5 billion worth deal with Dhabi Contracting for the construction of Al Khail Avenue, a mixed use development retail planned in the emirate.   Nakheel said the construction of its retail, dining and entertainment hub will begin in early October alongside Dubai's Al ...

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  • Etisalat completes sale of Canar shareholding

    Abu Dhabi-listed Etisalat Group said on Tuesday it had completed the sale of its 92.3 percent shareholding in Sudanese fixed line operator Canar to Sudan’s Bank of Khartoum.   The company received 349.6 million dirhams ($95.18 million) in return for the stake, after securing all regulatory approvals, the company said ...

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  • Boom time again for Dubai

    The latest findings are promising for businesses in Dubai, who prepare for another set of thriving times beginning mid August after slogging through traditionally slow summer months.   The private sector companies signalled a positive start to the third quarter of 2016, according to a new survey.   The seasonally ...

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  • UAE bank UNB in talks with banks about bond issue

    Union National Bank (UNB), 50 per cent owned by the Abu Dhabi government, is in talks with banks about issuing a potential benchmark-sized bond, three sources aware of the matter said.   Gulf banks have been active in raising money this year as liquidity becomes less abundant because of lower ...

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  • Dubai's Aramex confirms Australia Post buys 4.5 per cent stake

    Australia Post has bought a 4.5 per cent stake in Aramex, the Dubai-based logistics firm confirmed on Tuesday.   Aramex said it was confirming a statement by the Australian postal service’s spokesperson last week. Australian media reported Australia Post had spent nearly 100 million Australian dollars ($76 million).   It ...

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  • Kuwait's Americana posts 31 per cent Q2 net profit gain

    Kuwait Food Co (Americana) posted a 31 percent rise in second-quarter net profit on Monday.   The operator of restaurant franchises in the Middle East, including KFC, made a net profit of 9.03 million dinars ($29.91 million) in the three-month period ending June 30, up from 6.88 million dinars in ...

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  • Nasdaq Dubai to open equities futures market

    The Nasdaq Dubai exchange will open an equity futures market next month to trade single-stock futures on the shares of some of the United Arab Emirates’ biggest companies, the bourse’s chief executive said on Monday.   The introduction of stock futures could be a major development for equity markets in ...

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