Gulf Arab indexes hit 17-mth lows on U.S. fallout

On Monday, there was a fall in the Gulf Arab indexes to 17-month lows in frantic trading. This happened since the emerging markets were abandoned by the investors for fear of fallout from the latest disorder in the U.S. financial sector. There was a fall of 8% in the index of Dubai, which is actually the lowest level since April, 2007 during the session.

Abu Dhabi launches a fundraising campaign

For a noble cause of helping refugee and displaced women and children around the world, Abu Dhabi on Monday, saw the launch a major fund raising campaign by the UN Refugee Agency and its partner the United Arab Emirates Red Crescent Society, under the benefaction of Sheikha Fatima Bint Mubarak.

This campaign aims at helping and supporting UNHCR's projects for girls' education, livelihood, health and nutrition for the homeless women and children around the world.

This fundraising campaign has been named the “Sheikha Fatima Fund for Refugee Women” and will last for 90 days.

Dubai investors approached by Mike Ashley for the sale of his Newcastle Club

The owner of Newcastle United is rumoured to be in talks with a Dubai-based investment group, which may result in possible takeover by the latter of the club. According to one of the well known financial web site, Ashley is demanding a whopping $860 million (about £480 million) for the Magpies

The documents, which were earlier this week handed over to the people representing Dubai’s ruler Sheikh Mohammed bin Rashid Al-Maktoum, contains the figure.

Expansion plans to be announced by Duke’s business school

With the aim to proceed with research and deliver programs, Duke University's business school will soon announce an expansion plan, which will set up a network of campuses around the world.

The announcement would be made at the Fuqua School of Business on Monday, when the campus would be hosting a function to celebrate the cultures of the school's new host countries.

On-site sales to commence at Lagoons by the end of this year

The development arm of Dubai Holding, Sama Dubai announced yesterday that over 95% of the water-edging work on The Lagoons waterfront has been completed. The company’s portfolio had recently increased to $60bn.

Talking about Lagoons, it is basically a 70 mn sq ft waterfront project on the Dubai Creek.

Prior to this, Dubai's Public Prosecutor had reported that four officials of The Lagoons project were detained for questioning process, which also included chief executive Abdul Salam Al Merri.

Customers not satisfied with the service provided by banks during the ATM scam

An Arabian Business Poll conducted recently has revealed the fact that almost 77% of customers were not satisfied with the way their banks handled the ATM scam to hit the UAE.

Last week, a terror was spread around in the UAE, when some fraudsters used fake credit and debit cards to withdraw the money from the ATM. Following this new security measures are being introduced by the banks to fight the menace of fraudsters, and customers are also being instructed to change the passwords and codes of their debit and credit cards.

UAE and GCC to be the prime focus of 'Eid in Dubai'

The tourism sector is surely going to gain a lot since the celebration of “Eid in Dubai” organized by the Dubai Shopping Festival Office (DSFO) is just around the corner.

The Chief Executive of DSFO Laila Sohail reported, “During Eid, there is a jump in travelers around the world as people look for destinations to visit during this holiday. With all activities planned for Dubai during this period, it will be one of the key destinations.”

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