News

  Dubai / Emirates Business The Global Manufacturing and Industrialisation Summit (GMIS) has underscored its role as a facilitator and global promoter of manufacturing activities by signing a pact with the Polish Chamber of Commerce to strengthen manufacturing links between Poland and the global community. GMIS, which will be held in the UAE’s capital, Abu Dhabi, in March 2017, is ...

  Dubai / Emirates Business Diamond Developers, the real estate company behind The Sustainable City — the region’s first fully operational and integrated sustainable community in Dubai — announced the official opening of its eco-friendly Mosque, which was inaugurated by a delegation from the General Authority of Islamic Affairs & Endowments (GAIAE). The green Mosque has a total floor area ...

  Dubai / Emirates Business There are over 6,000 registered realty brokers in Dubai as per the latest statistics by the Real Estate Regulatory Authority, the Dubai Government entity regulating real estate organizations and agents in the emirate. In a lead up to EXPO 2020, the local property sector is expected to witness rapid growth with robust construction and transactions. ...

  Dubai / Emirates Business Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) announced an exciting new collaboration with Bollywood superstar Shah Rukh Khan. The project, comprising a series of short films, will see the actor unravel the secrets of Dubai, offering his fans a chance to see the exquisite city through the megastar’s eyes. Already well acquainted with ...

  Dubai / Emirates Business In a survey conducted by VIS, the organisers of Middle East Cleaning Technology Week (MECTW) UAE residents have their vehicles professionally cleaned on average three times a month. Emiratis on average have their automobiles cleaned four to five time a month. With the average cost of cleaning a car varying from AED 35 to AED ...

  Bloomberg Egypt’s prime minister tried to reassure an anxious public as Egyptians expressed alarm and anger over prices that swiftly soared a day after the nation’s currency was floated, sending its value tumbling as fuel subsidies were cut. In the capital’s working class district of Imbaba, residents spoke of a sudden spike in transportation and food prices, mainly because ...

  AFP Kuwait will issue billions of dollars worth of bonds in international markets to finance a budget deficit resulting from low oil prices, a report said Saturday. Finance Minister Anas al-Saleh said Kuwait will issue US dollar-denominated sovereign bonds of up to $9.6 billion during the 2016/2017 fiscal year which ends March 31, Al-Qabas newspaper reported. This comes on ...

  Bloomberg The Libyan Investment Authority tried to resurrect its lawsuit against Goldman Sachs Group Inc. by adding new accusations of bribery, less than a month after a crushing courtroom defeat in London. But Judge Vivien Rose said at a hearing that the appeal had no chance of success and ordered the sovereign wealth fund to pay Goldman at least ...

  Bloomberg India has backed a multi-tier national tax regime that even in its not-so-perfect form will be a game-changer for Prime Minister Narendra Modi, who is trying to revive manufacturing and boost foreign investment in the world’s fastest growing major economy. Moving away from the ‘one market, one rate’ tax model, the Goods and Services Tax Council decided on ...

  Bloomberg China’s drive to reduce overcapacity and streamline its coal industry has sent prices of the bulk commodity soaring. Efforts initially aimed at reversing a four-year collapse and help miners repay debts have pushed coal higher and faster than anyone anticipated. The fuel burned in power stations has doubled, while the coal used in steel making has more than ...