British multinational hotels company InterContinental Hotels Group (IHG) and Dubai’s Al-Futtaim have signed an agreement for management of the largest Holiday Inn hotel in the UAE. The 520-room Holiday Inn Dubai Festival City, a mixed-use waterfront community, is expected to be completed towards end-2017. The new hotel, the first branded mid-market hotel in the area, will connect directly to Dubai Festival City Mall. The hotel will also […]
The visiting delegation explored the Foundation’s programs and initiatives, and toured the Dubai Future Accelerators headquarters Dubai, November 15, 2016 Global future experts in Dubai to attend the two-day Annual Meeting of the Global Future Councils paid a visit to the Dubai Future Foundation’s headquarters in Jumeirah Emirates Towers Offices. The Foundation presented a number of its initiatives to the visiting delegation. This included items on display […]
Dubai retail firm Marka has reported a Q3 loss of $3.2 million (AED11.8 million), a 15% improvement from the $4 million (AED14.7m) loss it reported last year. Company also reported total revenue of AED 65.9 million ($17.9 million) in Q3 of 2016, a decrease of 15 percent compared to the same period in 2015. In its statement, Marka said the results for Q3 reflect the company’s sale […]
SHARJAH // Residents are unhappy with a decision to end free afternoon parking in the city. Sharjah City Council members last week agreed to end free parking between 1pm and 5pm in an attempt to curb abuse from motorists taking advantage of it, especially near marketplaces. For Naser Hamdan, the free parking gave him a chance to rest at home after work before he is forced to […]
With only 35 galleries exhibiting at this year’s edition – five fewer than last year’s – Abu Dhabi Art is smaller than most in the world, but the quality of the art has not been compromised. It has the feel of a boutique fair, where visitors and collectors can take their time to explore the gallery booths, and perhaps even find time to return and widen their […]
Giant blades of grass made from galvanised iron, a room full of rotting bananas and a spring-mounted fibreglass donkey bearing a model of a Sufi dervish are just a few of the more peculiar artworks that will go on show when the eighth edition of Abu Dhabi Art opens tomorrow. The art fair will feature booths from 35 galleries, which means the event is significantly smaller than […]
DUBAI // Indonesia announced its participation in Expo 2020 Dubai on Monday in a letter from the President Joko Widodo to Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai. The letter was delivered to Reem Al Hashimy, Minister of State for International Cooperation by Husin Bagis, the Indonesian ambassador to the UAE. “The ties between the UAE and Indonesia are deep and we hope to […]
DUBAI // Indonesia announced its participation in Expo 2020 Dubai on Monday in a letter from the President Joko Widodo to Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai. The letter was delivered to Reem Al Hashimy, Minister of State for International Cooperation by Husin Bagis, the Indonesian ambassador to the UAE. “The ties between the UAE and Indonesia are deep and we hope to […]
Over 300 senior professionals and 20 experts at summit on best manufacturing practices Dubai, United Arab Emirates, 14 November 2016 Under the patronage of His Highness Sheikh Ahmed Bin Saeed Al Maktoum, Chairman and Chief Executive Emirates Airline & Group, President Civil Aviation Authority, Chairman Dubai Airports and along with the support of Department of Economic Development (DED) and Dubai Economic Council (DEC), the GCC Manufacturing Excellence […]
DUBAI // A sustainable house that produces its energy from the Sun, water and the atmosphere has been opened by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai. The house, developed by the Mohammed Bin Rashid Space Centre, is the first of its kind in the UAE, and there are plans to use it as a model for new houses across the country. The house […]
The discussion underlined the effects that emerging technologies are having on the way the world consumes news, as well as on media’s reach and influence Dubai, November 13, 2016 A session titled “The Next Media Revolution” was held on the sidelines of the inaugural Annual Meeting of The Global Future Councils 2016, taking place in Dubai’s Madinat Jumeirah today (Sunday, November 13, 2016). The discussion underlined the […]
DUBAI // Preparing for a future when industries are altered by new technologies was the focus of a meeting on Sunday between Sheikh Mohammed bin Rashid and the founder of the World Economic Forum. The Vice President and Ruler of Dubai met with Prof Klaus Schwab, who is also the co-chairman of the Global Future Councils, at Madinat Jumeirah hotel. They reviewed global developments, advances in technology […]
|By Arabian Post Staff| China Construction Bank today marked the listing of a $600 million bond on Nasdaq Dubai under the bank’s six billion US dollar Medium Term Note Programme. Yuan Shengrui, Senior Executive Officer of the DIFC branch of China Construction Bank (CCB), rang the market-opening bell to celebrate the listing. CCB is one of China’s most prominent banks with a market capitalisation of 173.3 billion […]
DUBAI // Few sports can match the calorie-burning potential of squash, and coaches in Dubai are making it more accessible to children to help defeat the nation’s obesity problem. Coaches are being brought in by Dubai’s Elite Squash to lead lessons in schools and encourage more young people to take up the sport. As well as coaching clinics, Neil Young has started a squash programme with the […]
DUBAI // A smart autonomous vehicle is being tested on Dubai’s Business Bay District by the Roads and Transport Authority (RTA) and Dubai Properties. The electric-powered vehicle is 100 per cent environmentally friendly and can travel for up to eight hours before needing a recharge. The vehicle can accommodate 10 people (six seated and four standing) and can travel at 10 kilometre per hour. The trial is […]
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, stands with Sheikh Hamdan bin Mohammed, Dubai Crown Prince; Sheikh Maktoum bin Mohammed, Deputy Ruler of Dubai; Sheikh Ahmed bin Mohammed, Chairman of Mohammed bin Rashid Al Maktoum Foundation and Sheikh Mansour bin Mohammed at the opening ceremony for the Dubai Canal. Wam Sheikh Mohammed signals the opening of the Dubai Canal and the launch of its […]
|By Matein Khalid| The fall in oil prices since 2014 has triggered a liquidity crunch and higher funding costs in the UAE banking system. EIBOR is almost double the London interbank rate LIBOR. Non-performing loan (NPL) have begun to rise as property prices have fallen 20% from their peak and corporate/SME borrowers are hit by a sharp downturn in the business cycle. DIB shares reflect these macro […]
|By Arabian Post Staff| US$51.6 billion of Dubai’s debt will come due for repayment in 2016-18, with US$27.4 billion due in 2018, IMF has estimated. Over US$28.9 billion of Abu Dhabi’s debt will also come due during this period. According to IMF, these imply short-term rollover risks for both Dubai and Abu Dhabi, but for a larger extent in the case of Dubai. The Fund feels that […]
Young people in the UAE and wider GCC desire early independence and the opportunity to turn their passion into a sustainable career, according to a new study. They also want this career to be mutually beneficial for them and for their wider communities, said the study released by Expo Dubai 2020. Expo 2020 Dubai has worked with market research firm YouGov to gather the opinions of youth […]
UAE. The UAE industrial market has continued to show a relatively steady performance despite the emergence of economic headwinds, amidst on-going global uncertainty, according to the H1 2016 UAE Industrial & Logistics MarketView, by global real estate consultancy firm CBRE. The softening of crude oil prices over the past 18 months has had mixed effects on the UAE industrial sector, and on the markets in Dubai and […]
Two years ago, Meitha Al Mazrooei and Rand Abdul Jabbar, two young architects, decided to form a partnership. The decision was born of frustration. Both had spent years studying their profession, Al Mazrooei at the American University of Sharjah (AUS) and Abdul Jabbar at Dalhousie University in Nova Scotia and Columbia University in New York, but given their views on the way that architecture is understood and […]
UAE. Dubai’s residential and hospitality markets have rebalanced towards a “new normal” in the first six months of 2016, according to Deloitte’s new report “Deloitte Real Estate Predictions 2016 – H1 Review.” The report predicts that residential sale prices will decline further in Dubai for the balance of 2016, but that this rate of decline will slow, as value and affordability returns to the market. “Our real […]
|By Arabian Post Staff| Dubai is seeking $2.5 billion in loans to finance a 15-kilometer extension of its metro line to the World Expo site, Bloomberg reported quoting unnamed sources. The news agency said banks have submitted various proposals, including a $1.34 billion facility backed by European export credit agencies. Lenders also bid for a $1.12 billion unsecured, commercial facility that is guaranteed by the Dubai government, […]
|By Arabian Post Staff| Dubai-based Shaikhani Group announced a major foray in Dubai’s property market with 11 real estate projects with a collective value exceeding Dh3.5 billion (US$950 million) that are in various stages of development. Shaikhani Group’s 11 projects will deliver 2,100 residential and commercial units in Dubai Sports City, Jumeirah Village Circle and Dubai Silicon Oasis. Of these, the company is at an advanced stage of […]
