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.”

Istithmar Suspends its Top Officials Involved in Wrongdoing

With the Govt. proceeding with its investigations related to corruption, Dubai sovereign wealth fund, Istithmar World has suspended its vice chairman Adel al-Shirawi and chief financial officer, Feras Kalthoum.

It was confirmed through a statement that Adel al-Shirawi will no longer be serving as a board director of Istithmar World.

Earlier during the month of August, Istithmar World, a unit of state-owned Dubai World had confirmed, “The two were being investigated for alleged wrongdoing while in their previous positions at Dubai mortgage lender Tamweel.”

Kylie Minogue all set to win Millions of Hearts in Dubai

The well known Hollywood singer Kylie Minogue is all set to win hearts of millions through her two concerts which she will deliver at Dubai. Reportedly, the award-winning singer and a breast cancer survivor, has agreed to perform in two concerts at Dubai and in return has grabbed a cheque of four million US dollars for one performance.

The concerts will be held this November and the singer according to the Middle East AEG Live production company will let the singer earn a whopping sum of money.

Dubai Islamic Bank share suspension lifted

DIB (Dubai Islamic bank) informed yesterday that the ownership of land assets in Dubai land allocated to plantation holding.

Later in media reports bank stated that it looking to cover the exposure and recover funds given to Dubai - based property dealers. This effected market regulators to withdraw trading in DIB shares.

Kylie Minogue to perform at private Dubai gig

Kylie Minogue will be performing in a flashy private party on the manmade Palm Jumeirah Island off Dubai for 2 million.

This will be Kylie’s first ever performance in the Middle East and it will be in front of local celebrities including Dubai royal family.

Her 90 minute long performance on official launch of Atlantis Hotel will be the main show of the party.

Kylie is all set to hit South America with her 2008 X tour and it starts from November 1 in Bogota, Columbia.

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