A blaze that engulfed a Dubai skyscraper on New Year’s Eve – the emirate’s third high-rise fire in three years – has raised fresh questions about the safety of materials used on the exteriors of tall buildings across the wealthy region. Hundreds of gleaming towers rose up in Gulf Arab states, especially the United Arab Emirates and Qatar, during the past decade’s economic boom. Ultra-modern, flamboyant designs […]
|By Matein Khalid| In retrospect, the last six years were a unique period in global central banking, an epic monetary experiment that averted a Great Depression after Lehman’s failure and interbank/credit contagion plunged the world into recession in 2008-9. Yet the Fed (and later Bank of Japan, ECB and even PBOC) quantitative easing also led to asset bubbles, credit market excesses, currency wars and the mispricing of […]
Gulf International Bank (GIB) has inaugurated its wholesale banking brand in Abu Dhabi. The opening of the new office supports the bank’s strategic objectives to grow and develop business across the GCC region, said a statement. Dr Yahya Alyahya, chief executive officer, said: “It gives us great pleasure to inaugurate a full commercial branch in Abu Dhabi. The dynamism and pace of progress of the UAE market […]
Al khaliji France (UAE), a subsidiary of Al Khalij Commercial Bank (al khaliji), is conducting a career day series across the emirates, in line with efforts to export its talent recruitment and retention localisation philosophy across its network. Open to all fresh graduates and entry-level professionals in the UAE banking and finance field, the series was held in Abu Dhabi yesterday (November 8), is being held in […]
|By Arabian Post Staff| Dubai-based Landmark Group said it was pulling Donald Trump products off its shelves in response to the Republican presidential front-runner’s call for a ban on Muslims entering the United States. Landmark and DT Home Marks International LLC have an exclusive deal to sell Trump Home products – including lighting, mirrors, and jewellery boxes – in their Lifestyle department stores in Kuwait, the UAE, […]
|By Matein Khalid| Saudi Arabia has fascinated me since I first met Hani AZ Yamani as a teenage student all those years ago at Wharton. Hani’s father was Sheikh Ahmed Zaki Yamani, legendary Saudi Oil Minister (1962-86) under Kings Faisal, Khalid and Fahd. Sheikh Yamani managed the 1973 and 1979 oil shocks, survived a terrorist assault in Vienna by Carlos the Jackal, midwifed the birth of Saudi […]
|By TAP Staff| Dr David Alessi, the Beverley Hills-based plastic surgeon who helped many a celebrity transform their faces and body shapes to keep pace with the latest trend in high fashion, will soon be available in Dubai and Abu Dhabi for the benefit of people in the UAE and the region. The founder and medical director of Alessi Institute located in Beverly Hills is currently here […]
UAE. In times of economic uncertainty, cold-hearted international investors seek more diversification of their property portfolios; as London provides opportunity for property capital appreciation with prices continuously on the rise in the last five years, reasonable prices and growing yields in Dubai market make an equally attractive income generating opportunity. Mutual InterestFor Middle Eastern investors, London has always been regarded as a strong investment complementary to their […]
ABU DHABI // New reforms to the Labour Law were welcomed by expatriate workers and bosses. The changes will come into force from January 1 through three decrees, the Ministry of Labour said. The main goal is to ensure transparency and compliance in matters related to labour contracts, including terms of termination. Emirati businessman Sanad Al Meqbali said the new laws would benefit both the employer and […]
The world’s first purpose-built centre for paediatric research on rare diseases was named after the founding father of the UAE, Sheikh Zayed, on Monday. The Zayed Centre for Research into Rare Disease in Children was facilitated by a gift of £60 million (Dh335 million) by Sheikha Fatima bint Mubarak, the wife of the late Sheikh Zayed who is also Chairwoman of the General Women’s Union, Supreme Chairwoman […]
While Dubai continues to pump out sumptuous new apartment blocks, for a rising number of expatriates the city no longer offers the luxury lifestyle that lured many foreigners to the Gulf. A shortage of affordable homes and a reduction in overseas allowances since the financial crisis are pushing foreign staff on middle incomes out to less glamorous areas of the city far from the office, or to […]
INTERNATIONAL. Gleaming glass skyscrapers, state-of-the-art technology, and wealthy merchant families have replaced the Gulf’s muddy towns and villages populated by traders and pearl fishers that once lacked electricity, running water or modern communications. The region’s modern day projection of a visionary cutting- edge, 21st century urban environment masks however the fact that some things have not changed. Gulf states continue to be ruled by the same families, […]
ABU DHABI // Thousands of UAE pilgrims escaped a stampede near Mecca on Thursday that claimed the lives of hundreds on the first day of Eid Al Adha. Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, sent a cable to King Salman of Saudi Arabia expressing condolences and sympathy for the victims of the stampede. UAE pilgrims were […]
Abu Dhabi Islamic Bank (ADIB) has raised Dh504 million ($137 million) in its rights issue, which was nearly three times oversubscribed with Dh1.46 billion in subscriptions received. The rights issue, the first tradable rights issue for a bank in the UAE, forms part of the comprehensive capital plan to support ADIB’s strong growth plans. Following the close of the subscription period on September 10, all 168 million […]
ADEN // With the help of the UAE, 33 schools in Aden were reopened on Sunday, after the Emirates Red Crescent rebuilt more than 154 schools in the Yemeni southern port that were damaged or destroyed in fighting with the Houthi rebels. Dr Mohammed Atiq Al Falahi, secretary general of the ERC, said that all of Aden’s students would be able to return to school after the […]
The United Arab Emirates has no plans to abandon the currency’s peg to the dollar, central bank Governor Mubarak Rashed Al Mansoori said. “The dirham peg to the US dollar has served the UAE well over time,” Al Mansoori said in an e-mailed answer to Bloomberg News questions. The central bank “maintains a firm commitment to the peg.” Investors have increased bets that the six Gulf Cooperation […]
UAE. Forbes Middle East has unveiled the names of its Most Powerful Arab Women for 2015 at a glittering awards ceremony that shone a light on some of the region’s most influential and accomplished leaders. The impressive event recognized the achievements of women in reaching the top of their fields in business and government and, in doing so, working towards a fairer and more equal working environment […]
The Dubai Health Authority has awarded contracts worth Dh24 million ($6.5 million) to Emirati entrepreneurs in the last three and a half year, falling under the small and medium enterprise (SMEs) classification, according to a top officials. Eman Khalfan Al Jallaf, director of purchasing and contracts department at the DHA, said that in line with the vision of Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime […]
The UAE’s Foreign Exchange and Remittance Group (FERG), comprising of businesses engaged in money exchange and remittances in the country, has ramped up its awareness strategy to combat cybercrime. The strategy focuses on disseminating information to member exchange houses to combat cybercrime activities costing the global economy over $110 billion every year, said a statement. Rajiv Raipancholia, FERG secretary and Orient Exchange’s chief executive officer, said: “Not […]
Leading telecommunications operator du has launched its all new Basic TV packages aimed at delivering specific customer needs, by launching four unique language based packages. It includes South Asian, French, English and Arabic, aimed at enhancing its TV customers’ experience by offering them the option to subscribe to one or more of these packages from just Dh39 ($10.6)per month, said a statement. The four new packages offer […]
UAE. Latest business survey data pointed to a robust and accelerated expansion in Dubai’s private sector output during August. Furthermore, the rate of business activity growth was the fastest seen since May, with all three monitored sub-sectors reporting stronger output growth in the latest survey period. The rebound in activity growth was underpinned by a stronger expansion in new business, which increased at the strongest rate in […]
ABU DHABI // As Sheikh Mohammed bin Zayed continued to meet the families of the 45 servicemen who were killed in Yemen one week ago, charitable organisations and leaders have offered to provide support to their families. Sheikh Mohammed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, met bereaved families in Fujairah and Ras Al Khaimah. And, in the capital, Sheikh Rashid […]
ABU DHABI // Some had never met them personally, others did not even know their names, but this did not stop thousands turning out for the funerals of two of the fallen servicemen. On Saturday at Bani Yas Cemetery, the services took place for Mohammed Al Hosani and Mohammed Khalid, two of the 45 soldiers killed in the Yemen rocket attack. Mohammed Al Mazroui attended the funeral […]
Aden // Residents of Aden are slowly getting their lives back on track thanks to thousands of tonnes of UAE aid being distributed across the city. The historic port was left ravaged after it was attacked and occupied by Houthi rebels from northern Yemen. Many from Aden fled to other parts of the country or overseas to escape the fighting. Those that remained have faced a breakdown […]
