Abu Dhabi / WAM The government-sponsored Sheikh Zayed Housing Programme approved AED383 million in loans and grants for 642 Emiratis eligible for housing subsidies. Of these, 503 citizens will receive loans while the other 139 will receive grants because they are people with special needs. The move was in line with directives from President His Highness Sheikh Khalifa bin Zayed …

  Dubai / Emirates Business Al Ghurair Centre announced on Thursday the opening of three more brands in its latest expansion efforts in old Dubai. The stores include Pavers England, the established heritage brand shoe store & The Watch House, the popular chain offering the latest brands in watches opened their doors to Al Ghurair Centre shoppers Pavers England is …

  Sharjah / Emirates Business The administration of Children’s Cancer Hospital Egypt in Cairo, the largest dedicated paediatric cancer hospital in the Arab region, praised the support it has received from Her Highness Sheikha Jawaher bint Mohammed Al Qasimi, wife of the Ruler of Sharjah, Founder and Royal Patron of the Friends of Cancer Patients (FoCP), International Ambassador of the …

  Dubai / WAM HSBC Bank Middle East Limited (‘HBME’) on Thursday said it has transferred its place of incorporation and head office from Jersey to the Dubai International Financial Centre (the “DIFC”). As a result of the transfer, HBME is now lead-regulated by the Dubai Financial Services Authority (the “DFSA”). HBME remains locally regulated in each of the countries in …

  Dubai / Emirates Business Alpha Data, a Cisco Gold Partner and the UAE’s leading systems integrator and one of the longest-standing IT companies in the country, announced that it has been recognized as the UAE Commercial and Marketing Partner of the Year during the Cisco UAE Partner Summit 2016 held at The Ritz – Carlton, Dubai last month. Alpha …

  Dubai / Emirates Business Smart Dubai Office (SDO) held an introductory meeting at the Dubai Police General Headquarters, during which HE Dr. Aisha Bint Butti Bin Bishr, Director General of SDO, met Major General Khamis Mattar Al Mazeina, Commander-in-chief of Dubai Police, to showcase the Smart Dubai Happiness Agenda, which was approved by His Highness Sheikh Mohammed Bin Rashid …

Robert Farley SPECIAL TO EMIRATES BUSINESS The Korean shipbuilding industry has plunged into a deep crisis. The three biggest shipbuilding firms—Daewoo, Hyundai Heavy, and Samsung Heavy—posted record combined losses in 2015, and 2016 looks no better. Combined with a major accounting scandal and ongoing concerns about the viability of the market, South Korea could face a major shift in the …

  Clive Crook The Financial Times’s Gideon Rachman says he thinks Brexit won’t happen. The referendum result doesn’t mean that much, he argues. Any long-term observer of the EU should be familiar with the shock referendum result. In 1992 the Danes voted to reject the Maastricht treaty. The Irish voted to reject both the Nice treaty in 2001 and the …

  Sydney, Australia / AFP Australia heads to the polls on Saturday with a suave multi-millionaire former banker vowing only he can ensure stability in the wake of the Brexit vote for a nation used to a revolving door of prime ministers. Malcolm Turnbull, 61, became Australia’s fourth leader in just over two years when he ousted fellow Liberal Tony Abbott …

  Rome, Italy / AFP At least 10 people died after an inflatable dinghy loaded with migrants began sinking in the Mediterranean on Thursday, the Italian coastguard said. The coastguard said on Twitter that 107 people had been rescued from the stricken vessel and 10 bodies had been recovered. It was possible the final death toll could be higher as …