DUBAI // The higher committee of the UAE Initiative for Connection with Orphans and Minors has called on people and families to take part in a campaign launched by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai. Sheikh Mohammed appealed for community participation in building an Emirati model for caring for disadvantaged young people. Emiratis and their families can sign up at the Awqaf and […]
UAE. The Dubai Technology & Media Free Zone (the DTMFZ), commonly known as TECOM, is a Free Zone in Dubai comprised of a number of well-known business parks including Dubai Internet City, Dubai Media City, Dubai Design District, Knowledge Village and various others. The DTMFZ was re-launched on Tuesday under the new name Dubai Creative Clusters (the DCC). At the same time, the Dubai Technology & Media […]
UAE. Dubai and Abu Dhabi have been ranked as the 23rd and 33rd most expensive cities to live in (respectively) according to Mercer’s 2015 Cost of Living Survey. The two cities have experienced a significant jump compared to 2014, with Dubai soaring 44 places from last year’s position at 67 and Abu Dhabi going up 35 places 68th in 2014. Dubai and Abu Dhabi are the most […]
LEBANON. Economena Analytics, a specialized economic information provider, released its Lebanese Economic Outlook (LEO) for the second quarter of 2015. Key forecast findings show heightened levels of pessimism in recent months, with growth forecasts for 2015 falling to 1.5% in the Q2 survey from 2% at the start of the year. The findings are based on the views of 17 leading Lebanese economists. None of the surveyed […]
Every week, The National looks at the people and politics of the UAE, as the country steps more confidently forward on the world stage. June 11 New Zealand military visit to Ajman Museum A military delegation from New Zealand visited Ajman Museum and was received by Faisal Al Nuaimi, general manager of Ajman Tourism Development Department accompanied by ATDD national heritage adviser Ali Al Matroushi. Mr Al […]
ABU DHABI // A vehicle testing and registration centre in Dubai can service an additional 60,000 cars every year after renovations were completed. The Tasjeel centre in Al Barsha has added an additional test lane, a vacuum system to deliver documents and vehicle keys from test bays to the registration building, a larger waiting area and a new VIP section. “With the new extended capacity, we will […]
Saudi opening may be non-event with no licences awarded RIYADH, 11 hours, 30 minutes ago The opening of Saudi Arabia’s stock market to direct foreign investment on Monday may disappoint traders who have been hoping for large and immediate fund inflows, as the kingdom has yet to announce the award of any licences. Saudi Arabia’s Capital Market Authority announced plans to open the market last July, and […]
BAHRAIN. On June 12, 2015, Standard & Poor’s Ratings Services affirmed its long- and short-term foreign and local currency sovereign credit ratings on the Kingdom of Bahrain at ‘BBB-/A-3’. We also affirmed our long- and short-term foreign and local currency credit ratings on the Central Bank of Bahrain at ‘BBB-/A-3’. The outlooks on both Bahrain and its central bank remain negative. RATIONALE We expect that Bahrain’s fiscal […]
“I don’t discriminate with music,” says Mannan Alawar with a laugh, “as long as it’s good.” Whether he is reinventing the UAE national anthem on electric guitar for a YouTube audience or leaping into a crowd mid-solo, Alawar is hardly the average Emirati banker. The 24-year-old is a musician at heart, dividing his time between his day job, several bands and finishing a business degree. When he […]
ABU DHABI // Thirty-six members of the British parliament have signed a motion calling for the Queen Elizabeth II ocean liner to be returned to Scotland from its Dubai berth. The early day motion, a measure to call for a formal debate in parliament, has been predominantly backed by members of the Scottish National Party (SNP). After expressing “grave concern” at the condition of the vessel, the […]
ABU DHABI // The first flight carrying humanitarian aid from the Khalifa bin Zayed Al Nahyan Foundation to the people of Yemen left Abu Dhabi yesterday. The foundation said the flight would be the first of many before Ramadan begins next week, the state news agency Wam reported. Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, ordered that […]
UAE. Dubai private sector companies indicated a modest rebound in output growth from the 18-month low recorded during April, according to the latest Emirates NBD Dubai Economy Tracker™ report. The latest survey also pointed to a slightly faster expansion of incoming new work, while modest job creation and positive sentiment regarding the business outlook was sustained. Of the three key sub-sectors monitored by the survey, construction was […]
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, is shown around the UAE Pavilion at Milan Expo 2015 by Mahra Mustafa. Earlier, Sheikh Mohammed watched a short film, ‘Family Tree’, in which Mahra plays a girl who learns that values and experiences of past generations can help in today’s quest for a sustainable future. It also shows the hardships overcome by older Emiratis. Wam This […]
More than 3,000 new houses for Emiratis will be built as part of a Dh3.6 billion project approved by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai. Sami Abdullah Gergash, chief executive of the Mohammed bin Rashid Housing Establishment, said the apartments are intended for small families and newly-weds who are waiting for permanent housing. Residents housing applications will remain open while they are living […]
Emirates Airline President Tim Clark said Tuesday that if the U.S. were to void its open skies policy on aviation traffic rights, then antitrust immunity granted to some U.S. and European airlines to coordinate trans-Atlantic flying would also have to disappear. “If you have an open skies regime, you can get [antitrust immunity, or ATI]. If you shut down open skies, ATI has to go out because […]
Bond issue … big shift in Saudi economic policy. Saudi may issue government bonds this year DUBAI, 6 days ago The Saudi Arabian government may resume issuing bonds this year, easing downward pressure on the country’s foreign reserves caused by low oil prices, a senior International Monetary Fund official said after talks with Saudi officials. “The sense we had is this year,” Tim Callen, chief of the […]
UAE. Today, Phidar Advisory released its Q2 mid-quarter Dubai residential research note. The report shows that residential prices continue to decline in the first six weeks of Q2, compared to Q1-15. “The ongoing erosion of sale prices is a healthy correction” said Jesse Downs, Managing Director of Phidar Advisory. “The more significant concern is the scale and nature of the upcoming launched and announced projects.” she added. Apartment […]
ABU DHABI // The woman accused of murdering a teacher in a Reem Island shopping mall bathroom has had her case adjourned to allow her lawyer more time to prepare. Alaa Al Hashemi is accused of murdering American Ibolya Ryan in Boutik Mall in December. The 30-year-old Emirati is also accused of trying to murder another family by placing a bomb outside their flat. On Monday, Mrs […]
Emirates NBD generates financial report 30pc faster with MDS DUBAI, 4 days ago Emirates NBD has generated its year-end financial statements 30 per cent faster than the previous year, working with the MDS ap, an exclusive partner on the SAP Business Analytics Portfolio of products. The application allowed it to manage critical disclosures and heighten trust and transparency for investors, said a statement. Surya Subramaniam, group chief […]
Crayon, LiveRoute partner to offer Microsoft cloud DUBAI, 3 days ago Crayon Middle East, part of Crayon Group, the global leaders in Software Asset Management (SAM), has announced LiveRoute, a Mideast-based cloud solutions provider as its Microsoft Office 365 deployment partner in the region. The collaboration with LiveRoute will secure clients an all-inclusive solution for Microsoft Cloud services starting from acquiring the right licenses to full deployment […]
Political unrest dents business confidence in region DUBAI, 3 days ago Political turmoil and instability in the region have led to a drop in business confidence in the UAE and Middle East in the first quarter (Q1) of 2015, according to a new survey of finance professionals. The Global Economic Conditions Survey for the first quarter of 2015, carried out by ACCA (the Association of Chartered Certified […]
Adams … master-planning is important for sustainable developments. Master-planning key to sustainable mixed-use projects DUBAI, 3 days ago The Middle East has a unique set of challenges and opportunities with regard to creating large, mixed-use developments, says Louise Adams, former country manager UAE at Aurecon, an engineering, planning, project management and consulting company. Adams describes the importance of investing in master-planning, some of the current opportunities and […]
UAE. The Global Economic Conditions Survey for the first quarter of 2015, carried out by ACCA (the Association of Chartered Certified Accountants) and IMA (the Institute of Management Accountants) also shows that while lower oil prices have helped oil-importing nations such as the USA and Europe, they have undermined performance in many net oil-exporting regions such as Asia Pacific and the Middle East. Confidence has dipped in […]
DUBAI // A poorly maintained car refuelling at an Enoc petrol station in Al Twar was likely to blame for a fire that broke out last Saturday, an initial review of closed-circuit television footage revealed. The footage shows Dubai Civil Defence using dry chemical powder to put out the blaze, containing the damage to the pump, the car and the side of the petrol station. Health, safety […]
