logo

News related to
Dhabi

JORDAN.  Technology will be a “game changer” in tackling youth unemployment in the Middle East and North Africa’s emerging Digital Economy, but only if the government, private, and people sectors collaborate effectively, according to a new report released on the eve of the World Economic Forum on the Middle East and North Africa (MENA) 2015. The report “Re-Dynamizing the Job Machine: Technology-Driven Transformation of Labor Markets in […]

ABU DHABI // A medical report proves that the woman accused of murdering an American teacher on Reem Island was aware of and responsible for her actions, prosecutors told the Federal Supreme Court on Monday. Alaa Al Hashemi, 30, an Emirati, is accused of stabbing to death Ibolya Ryan, 47, a mother of three, last December in a toilet cubicle in Boutik Mall. The defendant had previously […]

ABU DHABI // A woman who attempted to rob a money exchange shop using a toy gun was sentenced to a total of seven years and two months in prison on Monday morning. Abu Dhabi Criminal Court sentenced the Filipina A L, 33, to seven years for attempted robbery and two months for breaching the UAE’s residency laws. The sentences will run consecutively. Police, as part of their […]

ABU DHABI // A family of children as young as 8 is living in squalor and deprivation, with social services powerless to intervene because they have no legal authority to do so. The 10 children, the eldest of whom is 24 and mentally ill, sleep on the floor in two outdoor rooms reeking of urine and faeces and littered with rubbish. Their kitchen overflows with dirty dishes […]

Each week, we will post a Friday quiz question, offering our readers a chance to win exciting prizes. Simply SMS the answer to 3660 (for both Etisalat and du) to enter. The contest is open until midnight on Friday. The winner will be notified on Sunday. Terms and conditions apply. This week’s question: In which country did UAE conservationists recently release 55 falcons into the wild? Here’s […]

The US embassy in Abu Dhabi has sent an email to its citizens warning them to take care in rural and remote areas after someone was hit by a vehicle while walking in Al Bahia. “Due to a recent report of an individual who was hit repeatedly by a vehicle and seriously injured when walking on the road in Al Bahia, a rural area of Abu Dhabi, […]

|Special byTAP Staff|Abu Dhabi-based Aabar Investments is expected to reap rich dividends from its involvement with Mongolia’s coal industry in the wake of a landmark mining deal concluded recently. Aabar Investments has been the largest UAE investor in Mongolia since 2011 through its investment into Gobi Coal & Energy Ltd, which has been credited with the discovery of the massive Oyu Tolgoi project. Its two main projects, […]

Advertisements

Industrial and Commercial Bank of China has launched a $500 million five-year debut bond issued by its Dubai branch, which is set to price later on Monday, a document from lead managers said. The bank, China’s largest by assets, set the final spread at 120 basis points over U.S. Treasuries, the document stated, tighter than the initial price guidance of around 145 basis points over treasuries announced […]

Dubai Islamic Bank (DIB) has picked six banks to arrange fixed income investor meetings from Thursday for a potential benchmark size, U.S. dollar-denominated senior sukuk issue, a document from lead arrangers showed. DIB, the largest Islamic bank in the United Arab Emirates, has mandated First Gulf Bank, HSBC, Maybank, National Bank of Abu Dhabi, Standard Chartered Bank and itself to arrange the meetings in Asia and Europe. […]

DP World, one of the world’s biggest port operators, has launched a $500 million, five-year bond that will price later on Tuesday, a document from lead arrangers showed. The transaction was set to price at a spread of 155 bps over midswaps, which is at the tighter end of a final guidance of 160 bps plus/minus 5 bps over midswaps. This is lower than initial pricing guidance […]

|By TAP Staff| RP Global – part of RP Group of Companies, a global business conglomerate with an annual turnover of over US$4 billion – made its entry into the Dubai real estate market by breaking ground on its new multi-storey residential tower project RP Heights. RP Global will initially develop two prestigious projects in the heart of the city with a total development value of over […]

|TAP Special| US airlines companies hired secret accountants to unearth how Gulf governments subsidized their airlines, including Emirates, Etihad and Qatar Airways, western media has reported. As the battle intensifies over U.S. airlines’ allegations of unfair state subsidies to three Persian Gulf rivals, American carriers have been gathering data to support their claims sheds light on the vast financial reporting divide between the two sides. The U.S. […]

|By Nafeesa Syeed & Rinat Gaynullin|Saudi Arabia is burning through foreign reserves at a record pace as the largesse of the new king and regional turmoil ratchet up pressure on public finances already hurt by the oil price slump. The kingdom spent $36 billion of the central bank’s net foreign assets — about 5 percent of the total — in February and March, the biggest two-month drop […]

TOKYO—Japan’s Inpex Corp. has secured a 5% stake in Abu Dhabi Company for Onshore Oil Operations, or ADCO, one of the Gulf nation’s biggest oil concessions, becoming the second foreign stakeholder after France’s Total SA . The move suggests that as part of Tokyo’s efforts to shore up its energy supplies, the partly state-owned Japanese energy company was prepared to pay a hefty signing-on fee that other […]

|TAP Special| Citibank has lost a key decision in its defense of a lawsuit in Abu Dhabi accusing the bank of self-dealing, defrauding investors, and attempting to cover-up investor losses. The Abu Dhabi Commercial Court of First Instance on April 14, 2015 determined the lawsuit should proceed and ordered the appointment of a Committee of Experts to review evidence and determine Citibank’s culpability. The Court’s decision is […]

The two main stock exchanges in the United Arab Emirates are trying to attract market makers but some industry professionals say Abu Dhabi is offering more generous financial terms and more liberal rules than Dubai, suggesting it may have more success. Market makers stand ready to buy and sell stocks at all times, improving liquidity on an exchange – something which may be increasingly important as Abu […]

Most major Gulf stock markets, led by Dubai, rose on Sunday after the Brent oil price hit a 4-1/2-month high, while the bourse of energy importer Egypt closed in the red. Brent crude climbed to $65.80 a barrel on Friday because of continued fighting in Yemen and, although U.S. crude fell on concerns about another upcoming stock build, both benchmarks posted weekly gains. The main Saudi equities […]

DP World, one of the world’s biggest port operators, wants to issue a dollar-denominated bond and could announce plans to market the deal to fixed-income investors as soon as next week, three sources aware of the matter said on Thursday. The Dubai-based firm could raise between $750 million and $1 billion from the bond, depending on investor appetite and the interest rate the company would have to […]

Alitalia SpA may follow British Airways parent IAG in quitting the Association of European Airlines as a rift widens over the competitive threat from Gulf carriers, which are the biggest shareholders at both companies. “A strong signal is needed and other airlines have already done that,” Alitalia Chief Executive Officer Silvano Cassano, whose Rome-based company is 49 percent owned by Etihad Airways PJSC, said in an interview. […]

Dubai’s drive to develop its Islamic finance sector is fuelling growth of sharia-compliant banking but the benefits are unevenly distributed, with some lenders struggling to compete against burgeoning competition. In 2013, Dubai’s government announced plans to turn the emirate into a centre for an “Islamic economy” with sharia-compliant businesses ranging from banking to asset management, trade, food preparation and certification, fashion, education and tourism. This looked like […]

A $1.5 billion nine-year loan for Dubai’s Emirates National Oil Company (ENOC) is being marketed to banks after receiving commitments from seven lenders to fully back the financing, three sources aware of the matter said on Thursday. The syndication phase was launched on Wednesday and will allow additional lenders to join in the facility, which ENOC said in January it would raise for general business purposes and […]

Apollo Global Management is in talks to expand its business into the Middle East for the first time through a joint venture with a local investment firm, three sources aware of the matter told Reuters on Wednesday. The move is the latest sign of interest in the region from large Western private equity funds. They are searching for opportunities in previously-unexplored markets due to low-yield environments at […]

As chairman of Emaar Properties, Mohamed Alabbar has shaped much of Dubai’s skyline, but rapid growth in his outside real estate interests is raising the possibility of a rarity in the Gulf – open shareholder dissent. Speculation persists that Alabbar and Emaar, the company he founded in 1997, could soon part ways despite a categorical denial from the firm last month. His involvement in other firms’ projects, […]

Ninety-two unlicensed farms have been shut down by Abu Dhabi Municipality and Al Wathba Municipal Centre in Al Wathba and surrounding areas, Al Ittihad, the Arabic-language sister paper of The National, has reported. The closures came as part of an initiative to promote adherence to the law and reduce the number of unlicensed farms and residential buildings. The closures are also being carried out to protect the […]

VISHNU RAJA
RYO YAMADA
HITORI GOTOH
IKUYO KITA
Just in:
Abu Dhabi court holds NMC executives liable for fraud // Trump directs Justice Department scrutiny of Democratic threats // Rubio rejects prospect of imminent Iran peace breakthrough // Vijayan seeks immediate reversal of decision // Houthi missile barrage damages Aramco tower in Riyadh // Lula commits to budget discipline after election victory // Vasavan alleges one-man show by CM Satheesan // Satheesan resists Anil as new state Cong chief // Abu Dhabi property transaction value climbs 76.1 percent // UAE non-oil trade climbs to AED 2.945 trillion // Setback for Usha in Olympic body // From Seoul to Wuzhen: Korean Celebrities and Creators Spark a Water Town Slow-Living Trend // BJP leader condemns cyber attacks over Mammootty wedding visit // Bank of England flags sharper AI share correction risks // Nexawork AI Launches Custom Software for SMEs From RM19,900.00 // Freeze on new bar licences // AutoSwift secures close to A$10 million from Singapore’s X Star Technology to scale AI WINGMAN // Setback for Usha in Olympic body // Deemed status for high-performing aided colleges // Republicans Struggling To Come Out Of Nov 3 Debacle To Prepare For 2028 Prez Polls //