Emaar Properties has secured a $1.5 billion sharia-compliant loan from five local lenders, two banking sources aware of the matter said on Wednesday, the latest Dubai-based borrower to take advantage of buoyant markets to reprice debt. A number of state-linked entities in the emirate have sought to refinance existing debts, even if the loans have years until maturity, as market sentiment towards Dubai improves after its debt […]
Although the world’s largest democracy has been hobbled by inflation, a declining currency and difficult business environment, the pro-business Bharatiya Janata Party that just won an epic election in India has engendered optimism that the country can turn around its sagging economic scenario. It’s time to increase your exposure to India’s stock market. The timing is good with equities in India perking up of late, something that […]
In Dubai, a city known for some of the world’s most luxurious hotels and penthouses, developer Union Properties PJSC (UPP) is looking to tap demand from people who want to visit the emirate without breaking the bank. The company plans to build around 1,000 hotel rooms in the next five years to address a shortage in the middle- and lower-end of the market, managing director Ahmad Al […]
DUBAI // Engineering student Chibuke Enekwechi has plans to develop a drone that could be used to monitor pupils sitting exams instead of relying on teachers to do the job. The final-year student from the American University in Dubai said on Tuesday that he hoped to come up with a winning design that could help him bag Dh1 million and possibly a further US$1m (Dh3.6m) in the […]
ABU DHABI // An impoverished farmer in India whose son was one of 13 workers killed in the Dubai bus crash spoke on Tuesday of his family’s grief, their shattered dreams and his struggle with debt. Ramchand Gupta, 50, borrowed money from relatives to send his son Sanjay to the UAE four months ago in the hope of a better life. The plan was that he would […]
Etisalat expects to conclude a long-delayed deal to allow competition in UAE fixed-line telecommunications services by the end of 2014, a company document states, which could threaten its dominant position in the lucrative sector. Etisalat and rival du have been unable to reach an agreement over so-called bitstream access, or network-sharing, in the United Arab Emirates, despite beginning talks in 2009 and the government being the largest […]
BEIRUT, Lebanon — An international team sent to investigate allegations that chlorine gas had been used as a weapon in Syria’s civil war came under attack on Tuesday, forcing it to abort its mission to reach a village where numerous such attacks have been reported. In a statement, the United Nations-backed Organization for the Prohibition of Chemical Weapons said all of its investigators were safe and had […]
Low voter turnout has been reported on the second and final day of Egyptian presidential elections, as former army chief Abdel Fattah el-Sisi is expected to emerge as the country’s next president. While the Egyptian government declared a national holiday for Tuesday in an effort to get voters to cast their ballots, an official with international monitoring group Global Network for Rights and Development reported that voter turnout […]
Egypt’s election commission has extended the presidential poll by one day in an effort to increase voter turnout in an election that is widely expected to bring former army chief Abdel-Fattah el-Sissi to power. The two-day vote was expected to end Tuesday, but polling Monday was reported to be moderate in a country with 54 million registers voters. The extension is widely seen as an effort to boost […]
Egyptians were urged to vote on Tuesday, the second and final day of the presidential election, amid signs of a lower-than-expected turnout on Monday. Election monitoring groups said the turnout on the first day of the vote was moderate and often thin or non-existent in towns and areas where Islamists dominate. Victory for former military chief Abdel-Fattah el-Sissi, 59, is a foregone conclusion. However, el-Sissi and his supporters have been […]
Bavaguthu Raghuram Shetty moved to the United Arab Emirates from India nearly 40 years ago and made his fortune by building a hospital chain and money exchange group from scratch. Last week, he bought Travelex, the foreign exchange operator, for an undisclosed sum but what is likely the biggest investment of his career. In an interview with The Wall Street Journal, Mr. Shetty said he plans to […]
A Turkish court has ordered the arrest of four former Israeli military chiefs over a deadly 2010 raid by Israeli commandos on a Gaza-bound Turkish aid ship which killed nine unarmed human rights activists. The court in Istanbul will ask Interpol to issue international arrest warrants for the four commanders, Cihat Gokdemir, a lawyer working on the case, told AFP news agency. Turkish prosecutors are seeking life […]
DUBAI // A wish list of 21 requests from Indian expatriates in the UAE was delivered to Narendra Modi’s office on Monday as the Bharatiya Janata Party leader was sworn in as prime minister. It included long-standing demands such as voting rights for non-resident Indians, encouraging investment in infrastructure, joint-venture incentives and exemption from restrictive taxes. “These issues relate to NRIs all over the world, not just […]
Alex Salmond’s miscalculation gave No voters a perfect excuse to vote Ukip Photo: Christopher Pledger/Telegraph Has Alex Salmond lost it? The question becomes especially pertinent in the light of the SNP leader’s extraordinary reaction to his party’s decidedly underwhelming result in the Euro-elections. It is one thing for party bosses to be disappointed when their charges perform less well than anticipated. However, it is entirely another when they […]
DUBAI // A shelter for women and children who have been have victims of abuse has already dealt with 187 cases so far this year. Most of the victims were women, half were Emirati and the majority applied in person for help. The Dubai Foundation for Women and Children (DFWAC), the only shelter in Dubai for these types of cases, dealt with 414 cases last year. Of […]
A Dubai-based startup has raised $1.6 million in new funding to help launch its software that better connects social media users and the brands they follow. Brndstr Inc. (pronounced ‘brandster’) uses software that allows the brand’s Twitter accounts to automatically respond to #hashtags with offers and vouchers. For example, if a Twitter user retweets a brand’s tweet, then that user can automatically be sent a voucher giving […]
Chancellor Angela Merkel and Prime Minister Cameron. Photo: AFP Tory MPs may have agreed not to panic in the light of Ukip’s big win, but that doesn’t mean David Cameron isn’t going to come under a huge amount of pressure from them in the coming days and weeks to do something, anything, to show he’s got the message. One of their demands is bound to be that the […]
A full-size replica of the Great Sphinx of Giza is seen in Shijiazhuang, north China’s Hebei province on May 13, 2014. Agence France-Presse/Getty Images Chinese tourists may have been thrilled about getting their very own Sphinx. Egypt, however, was less than pleased. The country said it planned to file a complaint to Unesco over an imitation Sphinx built in China earlier this year because it “harms the […]
Egyptians head to the polls in a presidential election that ex-army chief Abdel Fattah el-Sisi is expected to win easily. The two-day vote, which starts at 0600 GMT on Monday, follows more than three years of political turmoil that has seen two presidents overthrown, mass protests, thousands killed in clashes, deadly attacks and a battered economy. About 53 million people are registered to vote. Sisi is expected to trounce […]
CAIRO — Helicopters hovered over parts of the Egyptian capital, Cairo, early Monday as voting in the two-day presidential election began. Security was tight in many neighborhoods. Police blocked off streets and parts of city blocks to protect voters at polling stations. More than 400,000 Egyptian police and army soldiers were deployed Monday for the election, and more than 14,000 judges are overseeing the vote at polling stations across […]
An Egyptian elections worker guards boxes of ballots at the Giza courthouse in Cairo, Egypt, Sunday, May 25, 2014. TEXT SIZE – + VOA News May 26, 2014 12:35 AM Egyptians go to the polls Monday and Tuesday to elect a new president. Former Egyptian army chief Abdel-Fattah el-Sissi, who ousted the elected Islamist leader Mohamed Morsi, is widely expected to win. The two-day election caps more than three […]
|By K Raveendran| It is indeed a milestone in the history of UAE’s expatriate business. The purchase of a controlling stake in Travelex by Dr B R Shetty is easily the biggest acquisition by an expatriate both in terms of its value and profile. It is also perhaps the biggest global brand acquired by a UAE-based Indian entrepreneur. There have been buyouts of higher values, but these […]
BANHA, Egypt — His face smiles down from campaign banners everywhere, but splashes of red paint have bloodied a few. Abdel Fattah el-Sisi, the former army field marshal who led the military takeover last summer, is certain to win a landslide victory in the pro forma presidential election on Monday and Tuesday. But in this town about 30 miles north of Cairo, the mood is a discordant […]
DAMASCUS, Syria — For Younes al-Nasr, a lifelong train lover, the Hejaz railway station here in the heart of the Syrian capital is a repository of shelved ambitions. Every day, Mr. Nasr, 68, a Transportation Ministry employee, pads around his offices in the Ottoman-era building, where light filters through red, yellow and blue stained glass. He imagines the past — the few short years a century ago […]
