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|By Arabian Post Staff|Trading conditions for smaller community and regional centres and non-mall retail formats have become more testing, according to the Q3 2017 Dubai MarketView by global real estate consultancy firm CBRE. As a result, retailers are increasingly looking for flexibility from landlords to help soften the impact of changes in sales volumes. But development activity across the retail sector remains buoyant with approximately 1.0 million […]

|By Arabian Post Staff| Dubai’s Al Ghurair Properties has announed a series of new devlopment projects worth AED 5 billion, which is expected to add new impetus to the Dubai property sector. The plan envisages the construction of 58 distinctive residential projects of new age homes with high quality infrastructure, the company said in a statement. The statement cited real estate agency, JLL MENA, findings that as […]

|By Matein Khalid| Jamie Dimon, the unanointed king of Wall Street and chief executive of New York banking colossus J.P. Morgan did not mince his words. He called Bitcoin “a fraud”, a speculative bubble comparable to the Dutch tulip mania of the seventeenth century and declared he would fire any trader at his bank trading in the cryptocurrency “in a second” for “stupidity”. This has only reinforced the […]

|By Arabian Post Staff| DP World Limited announced it has entered into agreements to acquire Maritime World LLC, owners of Dubai Maritime City, and Drydocks World LLC for a total cash consideration of $405 million. Of this, the Dubai Maritime City owners are to be acquired  for $180 million while the Drydocks World  for a cash consideration of $ 225 million. DMC is a world class maritime […]

|By Arabian Post| JAFZA’s active secondary market has witnessed an increase in the number of properties available for sub-lease and sale, leading to a decline in capital values over the last 12 months, according to a report by real estate consultancy firm CBRE. Occupiers are understandably keen to take advantage of the prevailing market, to locate to newer facilities with lower rentals, better infrastructure and road connectivity. Further signs […]

|By Arabian Post Staff| Dubai’s DIFC Courts witnessed sustained growth in the first six months of 2017, with the English-language, common law judiciary continuing to help global businesses resolve their largest and most complex disputes while becoming the increasingly preferred forum for settling the smaller claims of corporations, SMEs and individuals. The workload of the main Court of First Instance (CFI), including arbitration-related cases and counter claims, […]

|By Arabian Post Staff| Teneo Holdings, the global CEO advisory firm, today announced that it has acquired Credo Business Consulting LLP, a leading management consulting firm with operations in London and Dubai. Credo is a highly-respected management consulting firm focused on corporate strategy, transaction services, commercial and operating model transformation and performance improvement. With an outstanding reputation for depth of analysis and insight, Credo has helped many of the world’s leading organizations […]

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|By Arabian Post Staff| UAE-based conglomerate Al Ghurair announced  a partnership with AccorHotels to launch the upper-upscale Swissôtel and Swissôtel Living in the Al Ghurair Centre. With over 4,000 hotels, resorts and residences, as well as over 2,500 of private homes around the globe under the AccorHotels banner, this reflag marks Swissôtel’s first entry into the UAE market. Known for the famous Swiss hospitality,  Swissôtel upholds industry-leading […]

|From Anand Vardhan in Denpasar, Bali| The Middle East crisis, which has seen the diplomatic isolation of Qatar last week, is expected to impact Indonesia’s tourism and lead to a consequential drop in foreign earnings. Bali, the single largest tourist destination of Indonesia, has been receiving some 400,000 visitors via Qatar, of which  70% are tourists. The anxiety is all the more heightened as a majority of these […]

|By Saifur Rahman | Executive Editor|Emirates, the world’s largest carrier of international passengers, has raised US$47.43 billion (Dh174 billion) to finance its fleet over the last 10 years, its recently-released annual report for 2016-17 shows.  “Having raised Dh174 billion (US$47.3 billion) over the last 10 years, Emirates continues to maintain a well-diversified and evenly spread financing portfolio. Tapping into various sources of funding, both in terms of […]

|By Arabian Post Staff| Dubai Government is developing a new project development company that will manage projects by Dubai Holding and Meraas Holding, according to a media statement issued on Monday (May 29, 2017). The move is a reflection of the economic reality marked by lower oil price and lower growth outlook that is encouraging governments to consolidate their state-owned businesses to cut costs by creating synergies. It […]

|By Arabian Post Staff| Consumer confidence in the UAE remained uncertain in 2016 resulting in the Dubai retail market experiencing further softening in Q1 2017, according to a latest report by Knight Frank. “Well-established malls with higher footfall continue to maintain healthy occupancy rates; however the delivery of additional retail supply is expected to put pressure on overall occupancy rates. UAE shopping malls are also expected to […]

|By Arabian Post Staff| Xanadu Real Estate Development, a Dubai-based property developer, announced the delivery of nearly 200 luxury villas and townhouses with a development value exceeding Dh750 million, part of the Dh8 billion worth of projects it helped deliver with its partners over the last six years. These include 130 Townhouses at Jumeirah Village Circle, worth Dh300 million and 68 luxury villas at Jumeirah Golf Estates, […]

|By Matein Khalid| The financial markets finally cottoned on the increasingly sordid political realities created by the Trump White House. Trump could well be impeached for obstruction of justice if he tried to pressure FBI Director James Comey to drop an investigation on disgraced General Michael Flynn’s contacts with Russian intelligence before the election. The appointment of a special prosecutor to investigate the scandal means Washington is […]

The completion date for new passenger terminal at Dubai’s Al Maktoum International Airport (DWC) has been pushed back to 2018. Dubai Airports, the owner and operator of DWC and Dubai International Airport (DXB), said in its 2015 statement that it expected the expansion to complete in the first quarter 2017. “The expansion of Dubai World Central’s passenger terminal building from the current five million passengers per year […]

DUBAI // In an age when so many of the tales told about the Arab world are tinged with despair, there was at least one night set aside to celebrate some good. That’s what the audience wanted, and they came by the thousands to see it first hand. There to hear the inspirational stories were Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and Sheikh […]

Lubna Qassim is no career diplomat, but in her varied legal and political career, she has had the privilege of walking the corridors of power in London and Dubai. These days, as well as being executive vice president and group general counsel for Emirates NBD, Qassim is a member of several corporate boards. Qassim, the eldest of four daughters, credits her business acumen to the fact that […]

DUBAI, United Arab Emirates: Donald Trump Jr. traveled to Dubai and met a billionaire business partner in the city-state, discussing “new ideas” as the Emirati’s real estate firm still lists possible plans for future joint projects while Trump’s father is in the White House.The Trump Organization has said it won’t make new foreign deals while Donald Trump serves as America’s 45th president. That didn’t affect the Trump […]

Alabbar and MEVP to accelerate the digital entrepreneurial ecosystem in the region Dubai, May 18, 2017 Middle East Venture Partners (MEVP) today announced that Mohamed Alabbar has acquired a large stake in the company to create one of the leading venture capital investment platforms in the Middle East and North Africa (MENA) region. MEVP is one of the largest venture capital firms in the MENA region with […]

Leisure Near the island of Sir Bu Nair, dhows participate in a training session on the eve of al-Gaffal traditional long-distance dhow sailing race to Dubai. Over a hundred traditional dhow racing boats will take part in al-Gaffal race from Sir Bu Nayer Island to Dubai. (Source: CEO Middle East YouTube channel) Source link

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and Chairman of the Shabab Al Ahli Dubai Club committee, on Wednesday meet with Mattar Al Tayer, Vice Chairman of Dubai Sports Council, along with members of the club merger committee. Wam Mohammed Al Bowardi, Minister of State for Defence Affairs, in China on Wednesday discussed with General […]

Dubai Municipality has banned the sale and circulation of one-time use phone chargers in the emirate, it announced on Wednesday. The order was issued by Hussain Nasser Lootah, director general, Dubai Municipality, based on the technical and safety directives issued by the civic body in 2003. It warned companies not to import or sell any disposable and non-rechargeable one-time use mobile phone chargers and to return them […]

DUBAI // A jobless Emirati who was sentenced to five years in jail for giving his girlfriend the drugs that killed her has lost his appeal. The man, 33, only confessed to possessing drugs for personal use and denied charges of facilitating drugs and consuming drugs at Dubai Criminal Court but he was found guilty of all charges. On August 12, 2015 police received a report of […]

Dubai-based Fetchr, a delivery-business and consumer technology app, has secured $41 million in a Series B financing round led by New Enterprise Associates Inc. (NEA), the start-up announced. The app addresses the “no address problem” in emerging markets, typically encountered by traditional companies delivering packages to customers. In a region where more than 80% of users have smartphones, fetchr is tackling delivery challenges by going directly to […]

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