UK for enhancing business ties with Dubai & the Northern Emirates
The British Business Group, Dubai and the Northern Emirates hosted an event in which the United Kingdom expressed its commitment to cooperate in the prosperity of the region.
Lord Davies of Abersoch, the UK Minister for Trade, Investment and Small Business, who was there with a high level delegation of 70 officials, wished to increase trade ties with the Middle-East region with the help of the UK/UAE Joint Economic Committee
DWC gets grant from Emirates Foundation for Philanthropy
The Emirates Foundation for Philanthropy has awarded a grant of 150,000 AED to the Dubai Women's College (DWC) for completing its proposed project "One Book, One HCT".
New regulator for the utility sector
The utility sector of the oil rich Dubai would be regulated by a new regulatory body for looking into its operations. The body, created by the Dubai Executive Council under the Higher Committee for Energy and Environment, will liaison the private sector to flourish its business offering a framework.
Infiniti G37 Unveiled in Dubai
Abdulmohsen Abdulaziz Al Babtain Co, home of the Infiniti brand in Kuwait last night, launched the much awaited G37 Convertible to the Middle East at a glamorous event held at the Palladium in Dubai's Media City.
Government to not guarantee DEWA’s bond issue
Saeed Mohammed Al Tayer, the Chief Executive of Dubai Electricity and Water Authority's (DEWA) said that Dubai government is not going to guarantee the proposed bond issue of $1.5 billion. This situation, according to experts, can mitigate the interests of investors in the program.
Dubai progressing in debt talks: U.K. Minister
U. K. Trade Minister Mervyn Davies said that the state owned Dubai World has been progressing in talks with creditors and soon there could be a fruitful result for the crisis ridden state firm, that shocked the entire World by announcing standstill on its debt payments for at least six months in November last year.
Chinese firms set to visit Dubai's Airport Show
Around ten Chinese companies are likely to attend the Airport Show 2010 which has been scheduled from April 25 to 27. This is a clear reflection of rising interests of Chinese companies in the aviation sector of the highly potential market of the Middle-East.
Burj Dubai making and breaking records
Burj Khalifa, the previously known as Burj Dubai, has become a major attraction in the Arab World for its splendor, unprecedented height, and cost of its construction. The World's tallest building, a key landmark of the majestic city of Dubai, is turning special for people from all walks of life.
Dubai police denies Qatar’s interference in the Mabhouh murder case
Dubai's police Chief, Lieutenant-General Dahi Khalfan has said that the Qatar has nothing to do with the case pertaining to the murder of Mahmoud Mabhouh, one of the leading members of the military wing of Hamas. He was reportedly killed by some unknown people in his hotel room in Dubai on January 20. Mabhouh was denied entry in Dubai and he used fake name Rubai to enter in the country.
Dubai airport cleaner charged with attempted theft
Authorities have charged the 34-year-old Indian cleaner for stealing sunglasses from the bin at Dubai International Airport. However, the cleaner rubbished the charges adding that he found the piece of trendy sunglasses in a rubbish bin placed in a corner of the airport.
Dubai sets for Meydan Masters
Meydan Masters meeting is going to start on Friday and it would be the final event before the Dubai World Cup will be held at the same place on March 27. The international Jockeys' challenge, sponsored by Meydan, would witness World's top 12 jockeys locking horns with each other.
Dubai Stock Market falls to its lowest level during the week
The reports of tough future ahead for Arabtec Holding Company and Dubai Financial Market had have adverse impact on Dubai stocks, making Dubai Financial Market's General index or DFMGI to fall to its lowest in the week.
Hamas leaders’ assassins in Israel: Dubai police
Dahi Khalfan, the Chief of Dubai Police has informed that police has come to know that all suspects who killed a Hamas leader in a Dubai hotel room, have been taking shelter in Israel for avoiding their arrest by the police.
Speaking at a media conference in Dubai, Khalfan told, "I am sure that all the suspects are in Israel. If they stay in Israel, they won't be arrested."
Arabtec Extends Due Diligence Date
The due diligence date for $1.7-billion merger of Dubai based Arabtec with Abu Dhabi-based Aabar Investments had been extended to April 16. The proposed stake sale would be discussed at the meeting of the Arabtec's board of directors besides reviewing the financial results of the company.
Flood of Creditors Approaches Dubai Debt Tribunal
The special tribunal set up by the Dubai World for addressing the issue of conglomerate's US$26 billion restructuring, has been approached by more than 100 creditors and lawyers with their claims.
Mark Beer, the registrar of the tribunal and of the Dubai International Financial Centre (DIFC) Courts confirmed that a flood of inquires on a daily basis is coming from creditors for strengthening their claims.
Dubai opens new cruise ship with the naming of an Italian ocean liner
A new cruise ship with the naming of an Italian ocean liner was opened last Tuesday by Dubai. The cruise will operate cruises from this Gulf Arab tourism hub.
Hamad bin Mejren, executive director of business tourism at the Dubai Department of Tourism, "Six-seven years ago, we had 10,000 cruise ship travelers. In 2009, this figure rose to 263,000 sea passengers, and we expect an increase in the coming years."
DMFGI falls for the fifth consecutive day
Dubai Financial Market General Index (DMFGI) remained under pressure for a fifth consecutive day in a row as most of the investors decided to off-load banking and property stocks in Dubai and Abu Dhabi. Investor's confidence also remained under pressure due to delay in restructuring of debt by the Dubai World.
Gulf Madhyamam to soon launch expatriates list for 2010
Dubai-based Indian language newspaper Gulf Madhyamam has started a yearlong campaign to find most influential expatriates from the South Indian state of Kerala who came in the Gulf state of UAE and finally settled there to be a part of growth story of the oil rich Emirates.
Dubai’s crisis to hit India's foreign trade: Survey
Gulf region, being India's largest trade partner, plays a significant role in the prosperity of the country. But the recent Dubai World's crisis that shocked the markets across the World, could affect the import export trade business of the country according to the Economic Survey 2009-10, presented in Parliament just ahead of the annual budget.
Dubai International traffic grows
Dubai has started to respond rising global economy with the city state has been witnessing further rise in business and commercial activities. This is indicated by 17 per cent rise in passenger traffic at the Dubai International Airport in January 2010 as compared to the same period last year.
Cargo activities at the airport too rose 31.5 per cent during the period indicating growing demand across the manufacturing and production segment.