|By TAP Staff| Dubai residential rents declined by 3% during the second quarter of 2015, according to the latest ADIB/MPM Properties Real Estate report. This comes amongst a surge in supply as 6,750 new residential units were delivered this quarter, taking the total Dubai residential stock to 479,000 units. The majority of the new supply was added along the Sheikh Mohammed Bin Zayed road, with the International […]
ABU DHABI // Newly-published statistics from Statistics Centre – Abu Dhabi (Scad) show that the population of the emirate is 133 times what it was in 1960. From that year until 2014, the population grew at an average rate of 9.5 per cent, which is one of the highest rates of growth in the world, state news agency Wam reported. During that time, the total population of […]
ABU DHABI // Representatives from the Bahraini National Space Science Agency visited the UAE Space Agency’s headquarters in Abu Dhabi. According to state news agency Wam, Dr Khalifa Al Rumaithi, the UAE Space Agency chairman, and Dr Mohammed Nasser Al Ahbabi, director general, along with other senior officials welcomed the Bahrain delegation led by chairman Dr Mohammed Al Amer. The two sides discussed cooperation and ways of […]
A surge in shares of Amlak Finance since they returned to Dubai’s stock market last month has raised concerns about a new wave of unbridled speculation on one of the region’s biggest exchanges. The Islamic mortgage lender has soared about 150 percent since it restarted trading in early June after a six-year suspension due to debt problems. At its latest close of 2.52 dirhams, the stock is […]
The National staff MUSCAT // A search operation is underway to find two Emiratis reported missing after getting into trouble while swimming off the coast of Oman on Friday. The two were part of a group of 6 people, five Emiratis and one Omani, who entered the water at the beach in the Damr area in Mirbat in Dhofar governorate in the south of the country when […]
The United Arab Emirates said it would let domestic fuel prices move more freely in a politically sensitive reform that could save the government billions of dollars and begin reducing the wealthy country’s love of gas-guzzling cars with big engines. Gasoline and diesel will be deregulated from Aug. 1 and a new pricing policy linked to global levels will be introduced, state news agency WAM quoted the […]
ABU DHABI // A decision to link gas and diesel prices to global oil markets has been described by industry leaders as an important reform initiative for the country. Suhail Al Mazroui, the Minister of Energy, announced on Wednesday that fuel prices will be deregulated from August 1 as part of the government’s plan “in diversifying sources of income, strengthening the economy and increasing its competitiveness in […]
ABU DHABI // The family of a man who died after undergoing surgery at a hospital in Al Ain will have to wait to find out how much compensation they are entitled to. Before his death, the man sued Tawam Hospital in Al Ain for Dh7million in 2013, alleging an unqualified surgeon, W H, botched a bladder operation, leaving him with a clogged artery and intestinal gangrene. He […]
|By Matein Khalid| As a student of investing and the son of a painter/art historian, I cherish art as a visceral, spiritual value but am also intrigued by its historical linkage to banking and the financial markets. The happiest moments of my life have been spent in the Prado, Tate, Hermitage, Rijksmuseum, Ufizi, MOMA, Met, the National Gallery on Trafalgar Square, the Louvre, Musee d’Orsay and so […]
ABU DHABI // Rulers, religious leaders and legal experts on Monday welcomed a new law against hate crime and religious or racial discrimination. Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said the law “guarantees the freedom of individuals from religious intolerance … and underpins the UAE’s policy of inclusiveness”. It also showed the wisdom of the leadership in a country that was sending a […]
ABU DHABI // The brightest 15-year-old in the world can’t find a place at university because she’s too young. Sitara Brooj Akbar moved from Pakistan to the UAE last year after breaking international records in passing examinations. She is the youngest pupil to reach the top level, Band 9, in the International English Language Testing System. IELTS Band 9 qualifies her as an “expert user” of English, […]
Bank ABC in $250m million loan facility deal MANAMA, 3 days ago Bahrain-based Bank ABC said it has closed a $250 million syndicated term loan facility for Bank Sohar. The three-year facility was signed on July 14 and will be used by Bank Sohar for general funding purposes, said a report in the Gulf Daily News (GDN), our sister publication. Besides Bank ABC, which acted as the […]
ABU DHABI // Drivers of silver taxis are crying foul over what they call unfair competition from unlicensed cabs offering cheaper fares. Taxi drivers are under immense pressure to meet their targets, often working 12 to 14 hours every day. They say the increasing number of uninsured and unregulated cabs has made it harder for the city’s 10,000 drivers to find customers. Owners of private vehicles are […]
DUBAI // A woman whose brother suffered a severe brain injury after a car crash has launched a campaign against tailgating. In August 1990, Nikki Carroll was living and working in Paris when her brother James, who had just received his A-level results, was a passenger in a car being driven in Dublin, Ireland, by a friend who was a newly qualified driver. “Due to high speed […]
ABU DHABI // It has gone so fast – and so far, so good. It’s already the third anniversary of work starting on the UAE’s first nuclear power plant at Barakah, near the border with Saudi Arabia. And it is still on budget and set to go live in late 2017, ultimately providing a quarter of the Emirates’ energy needs. But becoming the first new member to […]
|By TAP Staff| The chief executive of Al Hilal Bank Mohamed Jamil Berro has resigned citing personal reasons. Berro was withe the bank for the past seven years. According to a bank statement, Sarie Asaad Arar has been appointed acting group chief executive. Arar, with 25 years of banking experience, currently holds the position of chief business officer at Al Hilal Bank. In January this year, Reuters […]
ABU DHABI // In less than 30 minutes on Thursday, the hashtag #Signs_of_victory_from_Aden was tweeted more than 18 million times. Sheikh Abdullah bin Zayed said on Twitter: “#Signs_of_victory_from_Aden comes in these blessed days thanks first to the Lord and then to the Saudi-led Arab coalition and the heroic Yemeni fighters.” The Minister of Foreign Affairs’ message was retweeted 7,347 times. * The National staff This entry passed […]
ABU DHABI // A UAE serviceman died while “performing his national duty” with Saudi-led coalition forces, state news agency Wam announced on Thursday. Lt Abdul Aziz Sarhan Saleh Al Ka’abi was killed while participating in Operation Restoring Hope, in support of the internationally-recognised Yemen government of president Abdrabu Mansur Hadi, said the UAE General Command of the Armed Forces. Prayers over the body of Lt Al Ka’abi […]
|By TAP Staff| The UAE is taking the world’s most popular landmarks and attractions in Vegas, Orlando, London, Paris, New York and Ibiza to the next level for 2020. “Dubai is now considered as an international city on the same stage as New York, London, Paris and Tokyo, and is leading the development of the UAE leisure market together with Abu Dhabi,” said Phil Taylor, Director of Team Leisure LLC, previously Chief Executive of […]
M&A values reached during Q2 is belowits median level of the last six years. Mena M&A market hits three-year low in Q2 DUBAI, 12 hours, 18 minutes ago The Mena M&A market markedly regressed during the second quarter (Q2) of 2015, well behind its prolonged three-year revived activity, with the total value reaching only $3 billion, a report said. With the total number of completed deals on […]
Iranian stocks climbed to the highest level in three months as diplomats from the Persian Gulf country and six negotiating powers moved closer to reaching a nuclear accord. The Tehran Stock Exchange’s benchmark index advanced 1.2 percent on Sunday to 67,646.4, the highest level since April 15, as officials sought to clinch a deal that would help lift sanctions crippling Iran’s economy. Bank Saderat Iran was the […]
UAE. Core Savills, the largest commercial lease transaction and one of the leading international real estate companies in the UAE, is optimistic on the outlook for the Dubai real estate market. Research released today by the firm has suggested declining apartment and villas prices in the emirate since the market peaked late last year will stabilize during 2016 and return to growth later in the year or […]
DUBAI // Why do women wear black and men white? Is everybody in the UAE rich because of oil? These were just some of the questions and misconceptions young Emiratis tackled about women and life in the UAE from visitors to the UAE pavilion at Milan Expo 2015. The questions posed by curious visitors covered religion, history, women’s rights and education. The Emiratis hope their answers helped […]
ABU DHABI // An animal charity is appealing for volunteers to foster one or more of 31 cats and dogs that will be without a home by the end of next week. With more people abandoning pets during the summer months, plus foster carers leaving to go on holiday, the Animal Action UAE organisation is at “explosion point” and needs help from the public to offer a […]
