Good going for DIFC in 2014

Dubai International Financial Centre (DIFC) recorded an 18 per cent increase in the number of active registered companies operating within it, reaching 1,225 firms at the end of 2014, compared with 1,039 in 2013. Also, the financial hub issued licences to 242 new companies in 2014, compared with 199 in 2013, representing an increase of Read More …

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Key sectors provide optimism to Dubai companies

Robust economic fundamentals driven by the manufacturing, services and real estate sectors will continue to drive strong growth in Dubai despite weakening global conditions. The survey conducted by Dubai?s Department of Economic Development, or DED, during the last quarter of 2014 reveals that most businessmen are upbeat about 2015 on the backdrop of a stable Read More …

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Foreign investors purchased Dh 2.2bn worth of shares on Dubai Financial Market over the week

Dubai Financial Market DFM announced that the value of shares bought by foreign investors, or non-UAE nationals, from February 1 to 5, reached Dh 2.2 billion, while value of stocks they sold stood at Dh 1.3 billion, with net foreign investment on the market reaching Dh 193.6 million during the period, as aggregate sell. Value Read More …

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Dubai’s top 15 future projects… at cost of a whopping $66.89 billion

In the past two years, Dubai developers have announced a number of mega developments apart besides the government institutions announcing major infrastructure projects. A recent report puts contracts worth $27 billion being awarded in Dubai alone over a span of 10 years, while the UAE has seen $56.45 billion worth of contracts being awarded in Read More …

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Dubai stocks may extend gains despite oil’s pull-back

Positive momentum may support stock markets in Saudi Arabia and Dubai on Monday despite oil’s pull-back, after both markets surged on rising trading volumes in the previous session.Brent crude fell 2.6 percent to $51.59 on Monday after US unions called a refinery strike and traders cashed in on strong price gains last week, when the Read More …

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Dubai Marina property prices buoyed by new infrastructural projects

Dubai Marina is helping the area maintain its impressive property price growth.New research from Cluttons has found that the wave of new transport, retail and leisure facilities around Dubai Marina and in the surrounding area is further instigating buyer demand and raising prices. Prices have already increased by an average of 28% to 1,670 AED Read More …

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Emaar lifts Dubai index; Gulf markets mixed

Gulf stock markets were mixed in early trade on Thursday as quarterly earnings lifted some names in the United Arab Emirates while negative news weighed on Qatar. Dubai’s index added 1.5 percent as Dubai Islamic Bank jumped 2.6 percent and Emaar Properties? gained 1.3 percent.The latter’s subsidiary, Emaar Malls Group, edged up 0.4 percent after Read More …

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Can-Pack invests Dh200m in 2nd UAE plant

Can-Pack Group, the manufacturer of aluminum beverage cans, has opened a new manufacturing plant at Dubai Investments Park with an investment of Dh200 million. The 150,000 square feet facility with a daily production capacity of 1.75 million cans is the group?s second manufacturing plant in the area. The facility will also serve as a warehouse Read More …

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Dubai index edges up in early trade

Dubai index edged up slightly in early trade on Tuesday even as crude oil extended losses. The Dubai Financial Market General?index was up 0.23 per cent at 3,902.58 at 10.15 am, while the Abu Dhabi Securities Exchange General index was down 0.06 per cent at 4,564.44. Crude oil held losses near the $50 level mark Read More …

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Saudi firm invests Dh1bn in Dubai healthcare

Saudi Arabia?s healthcare firm Dr Soliman Fakeeh Hospital DSFH will invest Dh1 billion in the development of a medical facility offering robotic surgery and a university in Dubai spread over 150,000 square meters.The Fakeeh Academic Medical Center FAMC in Dubai Silicon Oasis will be constructed in two phases. Phase 1 of the project is set Read More …

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Dubai’s Emaar picks London to launch first towers of 2015

Emaar Properties, Dubai?s largest property developer, is set to commence sales for its first towers of 2015 on January 24, which are the remaining two towers of the six-tower Dubai Creek Residences. The launch of the towers, part of the multi-billion-dollar Dubai Creek Harbor at The Lagoons master development, will be simultaneously in Dubai, Abu Read More …

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Expecting your Dubai villa rent to rise? What 2015 index says

The first Dubai rent index update of 2015 saw apartment rents going up by 6 to 25 per cent across various freehold communities, but that?s not the case with the villa segment.Lease rates have remained stable across freehold villa communities, a comparison of 2015?s first rent index update against 2014?s last index figures reveals. Rents Read More …

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Dubai developer targets UAE residents earning Dh9k-Dh15k pm

Dubai developers are turning their attention to ?affordable? housing in 2015, with Dubai Properties DP, the development arm of Dubai Properties Group DPG, joining the bandwagon. The developer will be selling units in Remraam project in Dubailand to individuals earning salaries of between Dh9,000 and Dh15,000 per month, with average unit prices, starting Dh400,000. ?Almost Read More …

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Auction of seized assets brings Dubai Courts profit of Dh82m

Dubai Courts retrieved more than Dh365 million in debts through electronic auctions of seized assets over the past 11 months. From January until the end of November, Dh365,575,450 was made through auctioning cars, properties and others items seized by the courts after cases were lodged against individuals who had not paid their debts, said Yacoub Read More …

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Rental hikes do force tenants? hands

Dubai?s residents are willing to move. Getting hit with sharp increases in rental demands is forcing many to consider making the shift to a new residence. A comparison site for moving and household service companies, found that 65 per cent of respondents planned on a move upon their next lease renewal. The poll was conducted Read More …

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Dubai index rebounds with global markets

The Dubai index rebounded after global markets jumped on Friday led by Arabtec. The Abu Dhabi index also jumped. The Dubai Financial Market General Index was 4.76 per cent higher to be at 4,473.49 at 11.31am, after losing nearly 14 per cent in the past week. Arabtec, the most-active stock by value in trade, jumped Read More …

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Dubai tram ?to boost local property prices?

Currently, residents in Dubai Marina and Jumeirah Beach Residence rely heavily on cars and taxis to travel around Dubai and the introduction of the major new public transport expansion could change the dynamics of property prices. The Dubai Tram is scheduled to open on November 11th this year and the 10.6 km-long track will transport Read More …

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Dubai police to catch criminals with Google Glass

Detectives in Dubai will use Google Glass to seek out wanted criminals from as early as next year, the police department have announced. The wearable will be combined with facial recognition technology, according to an official in the Smart Services department of Dubai’s police. “The software that we developed internally enables us to connect a Read More …

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DEWA launches Google Glass smart app

Dubai Electricity and Water Authority, DEWA, has launched its smart app for Google Glass, which has been developed for in house use and supports DEWA’s efforts to fully automate its procedures and keep pace with technological developments in the U.A.E. Saeed Mohammed Al Tayer, MD and CEO of DEWA, said, “DEWA is following the steps Read More …

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