ArabianBusiness.com - Middle East Business News
Saturday, 21 November 2009 23:16 UAE time

YOUR DIRECTORY /

Dubai International Financial Centre (DIFC)

Main Category: Investment Companies
First Address : PO Box 74777
Second Address : The Gate, Level 14
City : Dubai
Country : United Arab Emirates
Phone: 971 4 3622222
Fax: 971 4 3622333
Website: www.difc.ae


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ALL STORIES LIST


Plain sailing

The former CEO of DIFC Authority Nasser Alshaali reveals why he’s swapped the trading floor for the factory floor.

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Former DIFC chief says Dubai needs more support

EXCLUSIVE: Nasser Alshaali upbeat on recovery, but adds more gov't help needed.

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DIFC told funds industry fees are too high

Dubai financial services watchdog says emirate must liberalise and cut fees for funds firms.

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DIFC chief confident of Mideast banking rebound

UAE central bank vice chairman says region has weathered the global economic crisis.

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Dubai no longer world's fastest rising financial centre

Emirate also falls in list of favoured locations for companies to open new offices - index.

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Dubai ruler enacts revisions to DIFC legal framework

Aim is to stimulate growth of new sectors, boost local financial services industry.

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Bourse supremacy

National pride may prevent Gulf bourses from merging. But there will be winners and losers.

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Virtual horizons

If virtualisation was a hot topic before the financial crisis, discussion has now reached fever pitch, thanks its potential cost savings...

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Designed for excellence

The design of DIFC's executive educational facility had to take technical, as well as aesthetic, considerations into account.

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On the REIT track

Is the Middle East ready to embrace Real Estate Investment Trusts as an investment class?

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Money on the move

Liquidity is improving in the region, as Gulf economies emerge from the shadow of the cashflow crunch.

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Rise in school enrolment 'disproves expat exodus'

DIFC head says 2% rise in South Asian school enrolment shows expat exodus theory 'empty'.

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DIFC governor: 'Dubai has turned the corner'

Dr Omar Bin Sulaiman says emirate set for 'quick rebound' from global economic crisis.

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DIFC rents 'best performing' in Dubai - research

CB Richard Ellis study shows business area rents are holding up amid global crisis.

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Office rents in Dubai free zones fall 60% in six months

Rates in privately managed buildings Media City down to AED92-180 per sqft.

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DIFC urges further shift in intra-Mideast trade

New report also reveals more regional trade heading to Asia and away from US.

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Dubai bond issue draws international interest

DIFC chief says interest in next tranche shows global investors still believe in Dubai.

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Dubai’s regulator to get tougher

CEO of DFSA says 'light touch' regulation days for companies over as it aims to bring in more robust regime.

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EastNets receives license from DIFC

Payments and compliance solutions provider says license will allow it to better serve Dubai clients.

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Wise words for the White House

Stanley Tate, an Obama insider talks finance, free markets and why US taxpayers shouldn't be bankrolling the bailouts.

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Dubai cancels DIFC Week 2009

EXCLUSIVE: Showcase annual event for emirate's financial hub will not happen this year - organisers.

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Penta offers hosted services to DIFC

Managed application hosting services on offer for companies at Dubai International Financial Centre

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Brush with success

Meet Sacha Jafri, the youngest living artist to ever be awarded a 10-year retrospective exhibition.

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DIFC chief upbeat over Dubai's debt financing

Chief economist says $20bn bond programme will satisfy emirate's 2009 financing requirements.

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DIFC chief economist urges Gulf gov'ts on sukuks

Dr Nasser Saidi says there has never been a better time to start issuing Islamic bonds.

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Dubai real estate may get state help

Dubai International Financial Centre Authority chief assures aid to construction, real estate companies.

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Ship to shore

From Royal Navy engineer to facilities manager at The Edge Management, Dubai International Financial Centre, and ports of call in between. Paul Collett has a Pusser's with David Rees.

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Three firms leave DIFC as global gloom deepens

Investment bank unit Jefferies International is one of three to leave Dubai.

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Shades of the past

Our 'How To' man Benjamin Millington looks at a case study in Singapore where designers created an outdoor shopping mall that utilises a mix of modern and historic cooling theories, and how the technology is being applied in the Middle East.

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Dubai could overtake London as financial hub - Mayor

London Mayor urges UK capital to 'up its game' or face being overtaken by emirate.

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DIFC publishes Electronic Transaction Law

Proposed law will govern commercial electronic transactions including messages, records and signatures

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Dubai's DIFC Investments pulls $350mn loan

DIFC seeks alternative finance as margin increases by over 3% from previous loan.

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Cable capers

Copper has held the status quo position for a long time when it comes to cabling. However, over the last few years fibre has been making a serious challenge to its dominance.

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DIFC launches global corporate services unit

Dubai centre says unit to provide 'supportive infrastructure and services'.

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The passing of peak oil?

In July crude cost $147. Fast forward three months and it is under $70. What does this mean for the Gulf?

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UAE has 'funds to bankroll future growth' - DIFC chief

Governor says strength of local funding will help during global financial crisis.

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DIFC land registration system offers more simplicity and speed

Property lawyer Christine Walker examines the new DIFC land registration system.

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Oil price slump 'unlikely to hurt UAE economic growth'

EXCLUSIVE: DIFC's chief economist remains upbeat as oil hits 15-month low of $68.

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Read the ticker and don’t panic

Despite assurances, cash is king now and people around the world are stuffing it under the mattress like worried old farmers.

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Dubai boosts financial ties with Asia

Financial regulator the DFSA signs cooperation deals with counterparts in China, Singapore.

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See through the spin

Where there is transparency in dealings, there is a healthy property sector. Even the world's newest markets understand this is the key to strong offshore investment. Rachel Macdonald looks at how Dubai fairs in the global transaction ratings.

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Drop dollar peg - DIFC economists

Planned Gulf central bank should peg single currency against basket of major currencies to tackle inflation.

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Making space

As information storage becomes more critical to organisations, IT managers are rising to the complex task with solutions and innovative practices.

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Forex firm staff slapped with five-year DIFC ban

GFS Investments fined $25,000, ordered to pay $500,000 compensation to customers.

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Investing in turmoil

Regional stock exchanges have had a tumultuous year making it difficult for investors to find value.

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New DIFC rules to attract ultra-wealthy families

Regulations set up to address financial, legal needs of family-run institutions.

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Green light for DIFC arbitration services

Dubai ruler enacts new law to enable centre to provide dispute resolution services worldwide.

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DIFC calls on Gulf to ditch dollar peg

UPDATE 1: Economists warns Gulf states to bring inflation in check to hit 2010 monetary union deadline.

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DIFC issues warning over rogue email

Dubai financial centre warns would-be investors in the region to steer clear of scam email in circulation.

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The gate keeper

The DIFC's CEO reveals how the financial centre is coping with a new influx of arrivals fleeing distressed Western markets.

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DIFC says not involved in investment bank

DIFC says it is not a member of the founding consortium of Rashed Investment Bank.

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Investors plan $500mn Dubai Islamic bank

Bank to have capital of $1bn, invest in shares, hedge funds, structured products.

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DIFC Investments seeks $1.5bn loan

Money will be used to fund construction of the centre, general corporate purposes.

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Gulf world's fifth largest economy by 2020

DIFC chief economist says GCC to become major global player if growth continues.

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Qatar's newest bank opens up shop

Al Khaliji opens first retail branch at Q-post Centre.

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New York Mellon launches Dubai operations

Global financial services provider granted licence to open office in DIFC to tap regional growth.

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DIFC watchdog urges transparency from Islamic scholars

DIFC Authority CEOcalls for systems to force accountability into industry.

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Tom Ford dishdashas to hit Dubai

Legendary designer to create a signature line of dishdashas for fashion-conscious Arab men.

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DIFC drafts laws to woo family businesses

Financial centre looks to tap into $1tn of wealth held by Middle Eastern family firms.

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ING aims to raise $5bn in region

Netherlands-based global financial services firm looking to tap into MENA, especially Saudi market.

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Golden egg?

Banks are looking to the Gulf to shore up revenues - and wealth managers are leading the pack.

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Coming together

Firms upgrade hardware and software but don't upgrade their most valuable asset, people.

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DIFC deals with HKMA in islamic finance development

The Dubai International Financial Centre Authority (DIFCA) has signed a Memorandum of Understanding (MoU) with the Hong Kong Monetary Authority (HKMA) in a bid to develop Sharia-compliant financial products in both countries.

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Don't jump in to new arbitration system yet

Philip Punwar, barrister and chartered arbitrator for Al Tamimi & Company, says the DIFC/LCIA rules will be welcome in the construction industry but, to date, are neither widely available nor enforced.

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Boardroom blues

The number of women in the workforce is rising across the Gulf but few make it to the boardroom.

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Do regulators feel the urge to merge?

Rumours of a merger between the emirates financial watchdogs appear to be premature.

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Rich pickings

More banks are creating best-of-breed offerings to cater for ultra high net worth clients.

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Mutual understanding?

The burgeoning takaful industry still has issues to resolve when it comes to regulation, marketing and Shariah compliance. Daniel Stanton reports from Takaful 08 in Bahrain.

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Arbitration: Light at the end of the tunnel

A modernised method of administering arbitration proceedings is set to liberalise the local scene, and make the thought of commencing this popular dispute resolution mode within the construction industry less intimidating than it currently may appear to be. Antonios Dimitracopoulos, partner, Bin Shabib & Associates (BSA) LLP, highlights the pros of looking to the DIFC as a possible alternative.

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Head of DFSA to step down

David Knott, CEO of DIFC's financial regulator, to retire at end of year.

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Ask the expert: John Ewin

Question: How important is location when creating a maritime cluster to support the shipping industry?

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Voltas lands US $70.8 mn deal

Engineering and air-conditioning services provider, Voltas, has won a US $70.8 million (AED260 million) contract from Emirates Central Cooling Systems Corporation (Empower) for the construction of a cooling plant in the north district of Dubai International Financial Centre (DIFC).

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Gulf lures high net worth investors

Oil driven liquidity glut, negative interest rates and infrastructure boom attracting foreign capital, experts say.

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GCC to establish common stock exchange

Gulf may look to establish Euronext-style stock market to lure foreign investors.

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First Halal Living expo for Dubai

Sh. Mohammed patronises world's first Islamic consumer lifestyle event.

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Empire state

Steve Hartley is surprisingly candid when comparing the Middle East's charter flights market with other regions.

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Great Properties says demand will increase

Real estate company, Great Properties, has predicted that the demand for commercial units in the UAE will continue to increase throughout 2008 and 2009.

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The art of investment

Andrew White meets Shehab Gargash, CEO of financial services giant Daman Investments, and one of the key figures behind Dubai's emergence as the region's premier financial centre.

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IIF chief sees challenges for Gulf economies

Head of financial institution association warns GCC needs to improve education and corporate governance.

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UAE poised to set up single financial regulator

Move to leave central bank sole mandate of setting monetary policy, report says.

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On the verge of an IPO frenzy?

While 2008 looks set to suffer short-term market volatility, the DIFX appears to have reason for long-term optimism.

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Wealth of opportunities

Barclays Wealth's Kevin Lecocq discusses wealth management challenges in the Middle East.

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China’s biggest bank given QFC approval

Chinese news agency reports ICBC has gained regulatory approval.

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Information breakdown

Institutions in this part of the world are hindered in their ability to make informed decisions by lack of reliable data.

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The ice men cometh

Arabian Business meets Sigurdur Einarsson, the man behind Iceland's largest bank - Kaupthing Bank.

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Fit for a king

Dubai's recently opened Monarch Hotel has impressive RMJM architectural concepts both inside and out.

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Setting up a business

No one ever said it would be easy - but for those who set up a successful business, the rewards can be huge.

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Super stocks

The DIFC recently staged a massive sound and light spectacular to celebrate its third year of operation.

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Tricks of the trade

Arabian Business meets the men behind the Middle East's first trading hub for both professional and new traders.

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Out with the old, and in with the new

Michael Grose, Partner, Clyde & Co looks at the hottest topics that will be at the forefront of the legal profession in the region this year.

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DIFC district cooling project for Voltas

MEP contractor Voltas has won a contract to provide a district cooling plant for Dubai International Financial Centre (DIFC).

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Media messenger

Laura Collacott speaks to Stéphane Fouks of Euro RSCG to find out how he intends to tap into the region.

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Dubai International Capital

Sameer Al Ansari, CEO of Dubai International Capital, tells Daniel Stanton how the firm is positioning itself as a global private equity player.

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Office hours

Rachel Savage from CitySpace talks to CID about ergonomics and people-friendly commercial design.

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Pegged off

Speculation is rife that a move towards the unpegging of the dirham from the dollar is imminent and research indicates that such a move would be welcomed. Diana Milne explains the impact of the dollar peg and explores the likelihood of it being removed.

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Gulf-owned fleet expansion continues

United Arab Chemical Carriers becomes the latest regional owner to confirm newbuilding programme.

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First hedge fund regulation launched by DFSA

Dubai Financial Services Authority is first to regulate hedge funds.

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Deep-seated sexism marginalising Arab women

AIWF Forum: Lack of female representation due to sexism, professor says.

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Making a mark

With construction of Index Tower reaching the half-way point, Hugo Berger visited the site to see just how the Sir Norman Foster-designed building is coming along.

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Is 2008 the year for the DIFC?

It may have been a long time coming, but The Dubai International Financial Centre will come of age this year.

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Taking a liberty with space

With the proliferation of tower projects at incredibly high levels, having the additional problem of bumping up against neighbouring developments and finding space to work in makes the contractors task even more tricky, as Christopher Sell finds out...

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Economists clash over growth forecasts

DIFCWEEK: Western economists predict global recession but region disagrees.

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Wages 'just one issue' for UAE

DIFCWEEK: Debate over gov't pay hike part of natural uncertainty of emerging economy, says Fields.

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Military solutions not the answer, warns Sachs

DIFCWEEK: Promotion of economy better weapon than tanks, economist says.

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Regulators must share the blame

DIFCWEEK: DFSA head says financial regulators are partly responsible for the world credit crisis.

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DIFX head predicts exchange consolidation

DIFCWEEK: Per Larsson says bourses worldwide face increased competition and need to raise standards.

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Gulf must take leading carbon trading role

DIFCWEEK: Green expert Rod Beckstrom says Gulf in key position to combat global warming.

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Market freedom combats poverty

DIFCWEEK: Markets help security of countries in ways politicians and gov'ts cannot, speaker says.

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DIFX eyes US acquisitions

DIFCWEEK: The Dubai International Financial Exchange is looking at assets in the sub-prime fallout.

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Balancing ethics and finance

DIFCWEEK: Islamic financial community must observe conventional skills but keep to values set out by Koran, expert says.

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Strong Gulf losing oil dependency

DIFCWEEK: Chief Economist praises Gulf for shift from petrol revenue to capital assets.

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Global crash imminent, warns expert

DIFCWEEK: Expect sharp correction with real estate and energy at record high.

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Levitt at DIFC: Build business to learn

DIFCWEEK: 'Freakonomics' author says firms must collect the right information.

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Economic Superfreak

EXCLUSIVE: Steve Levitt, talks about the dazzle of Dubai and his latest project.

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DIFC and Zabeel Investment link up

Dubai International Financial Centre Investment and Zabeel Investments have jointly signed an agreement to acquire a strategic stake of Empire Aviation Group (EAG), which is considered to be the largest deal in the history of private aviation business in the region.

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Sub-prime hits DIFC event as ex-Citi chief bails

EXCLUSIVE: Ex-Citigroup CEO will not attend DIFCweek

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DIFC pays $415 mn for British tech firm

Tech firm SmartStream is latest investment for Dubai International Finance Centre

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Sulaiman to chair Young Arab Leaders

Governor of Dubai International Financial Centre replaces Tatweer chairman to head YAL board.

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Dead weight?

ArabianBusiness.com assesses whether a revaluation of GCC currencies is imminent, and if it will solve the problem?

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Heal the world

Acclaimed economist and UN adviser Jeffery Sachs on his formula to make poverty history.

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80% of family businesses risk failure

Family businesses must protect wealth if they wish to survive into the future, DIFC Chief Economist says.

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DIFC strikes multi-million dollar sponsorship deal

Dubai financial centre to sponsor CNBC's new 'Gateway to the Middle East' show.

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Growing panes: glass sector seeks standards solution

Calls are being made for further regulation of the UAE glass industry. Christopher Sell examines the reasons why the industry needs to be brought together to survive the buoyant construction market.

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Urban Male Lounge - DIFC Dubai

This stylish take on the male grooming concept shows the ME is no stranger to the trend.

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Two towers deal for ALEC

The Al Jaber Group has awarded a contract to its contracting subsidiary, Al Jaber Engineering and contracting (ALEC), for a new project in Dubai International Financial Centre (DIFC).

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Call for greater China-GCC

Investment activity between China and the Gulf is more important than ever, due to the global credit crisis and increased protectionism by Western states, according to speakers at the China-Middle East Investment Forum, held in Dubai.

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The market maker

The Dubai International Financial Centre has benefited from an influx of international investment banks and budding start-ups. Riad Meliti, Arqaam Capital's CEO, tells Mohammed Aly Sergie how his company will revolutionise the region's capital markets.

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The Gulf between success and failure

All is well in Arabian businessland, or so a lot of people would make you believe.

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We come in peace, bearing billions

Borse Dubai's deal with OMX, Nasdaq and the LSE is one of the most ambitious the Gulf has ever attempted.

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Alternative thinking

What are renewable energy's real chances of success in oil-rich ME amid global warming fears, climate change?

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Nordic bank lands second GCC licence

Northern European lender Kaupthing to open Qatar Financial Centre branch, following DIFC authorisation.

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600bn Dollar Men

After 60 year, Franklin Templeton is managing over US$600bn in assets. What next for the company...

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First Nordic bank sets up in region

Kaupthing Bank to use its new licence in Dubai's DIFC to target entrepreneurs in the Middle East.

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Being top-class

Dubai International Financial Centre (DIFC) boasts an infrastructure that is ready for most eventualities and is built along the lines of the world's best financial centres. Mohammed Sabunchi, director for IT infrastructure at the centre, discusses the principles the team follows to ensure the best of infrastructure and service delivery.

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Building a safe

The scaffolding sector is at the forefront of safety innovation, reports Christopher Sell.

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New laws could help families go to market

Changes to UAE laws could encourage more family businesses to go public, argues Raju Menon, of Morison Menon chartered accountants.

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GCC-China ties hindered by culture

Investment between two regions being held back by lack of cultural understanding, officials warn.

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Delegates push for closer ties between GCC and China

Speakers at GCC-China forum call for greater investment between two regions.

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German giant granted DIFC licence

Commerzbank, Germany's second-biggest bank, will open branch in Dubai International Financial Centre.

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EFT elevator win for Al Futtaim Eng

Al Futtaim Engineering (Elevator Division) has won a US $4.36 million (AED16 million) contract to install the elevators in the Emirates Financial Towers.

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A sad end to the Forsyth Saga

Each week Arabian Business turns the spotlight on a leading company.

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Restaurant review: Sana Bonta, Dubai

A caterwauling Ian Gillan was the last thing Time Out Dubai reviewers expected to hear at the Italian eatery.

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The rise of the super-rich

Arabian Business talks to a regional private banker with a personal approach to dealing with his increasingly demanding clients.

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On the front line in the fight against flab

Each week Arabian Business turns the spotlight on a leading company.

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Banking on piety

Arabian Business examines the growth of Islamic finance and attempts to untangle its complexities.

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Morgan Stanley lures senior EFG staff to Middle East research team

Morgan Stanley has poached a trio of senior EFG-Hermes staff for its new research team in Dubai.

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Jumeirah to take restaurants worldwide

Global expansion is central to the future strategy of Dubai-based company Jumeirah Branded Restaurants, its general manager has revealed.

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Star chef to head Capital Club

Michelin-starred chef Jeremy Bastiaan is set to headline the opening of a private club in Dubai.

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Is the UAE Civil Code enough?

Berrymans Lace Mawer's Jeremy Cama outlines some of the stumbling blocks still faced by the industry.

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Bumfrey rapped by DFSA

Regulator takes action against unauthorised individual for promoting equity fund in the DIFC.

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UN advisor to speak at DIFC event

UN economist Jeffrey Sachs is set to lecture on wealth and poverty to international financial leaders in Dubai.

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Gulf firms to raise $250bn in securities by 2010

DIFC chief economist claims securitisation to grow 100-fold in the next two to three years.

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DIFC, DIB launch Sharia trust services

Waqf Trust Services will offer family wealth protection and succession planning advice according to sharia principles.

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DIFC creates Sharia trust services

Waqf Trust Services will offer expertise to wealthy individuals facing inheritance challenges.

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OMX vies for Karachi bourse stake

Nordic bourse owner, itself a takeover target, has shown interest in stake in the Karachi Stock Exchange.

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OMX shares rise on DIFC rival bid reports

Reports the Dubai exchange was planning a rival offer for the Scandinavian bourse owner saw boost in shares.

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DIFC set for OMX bid

Dubai International Financial Centre could launch a bid for the Swedish stock exchange operator as early as this week.

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A high cost of living or the cost of high living?

Rashid AW Galadari asks what will keep people moving to Dubai as the cost of living goes up?

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Change for the better

When some of the most influential IT decision makers in the banking and finance sector met to discuss and debate the issues that matter to them the most, Duncan MacRae joined in the fun.

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Can you afford it?

With the cost of living increasing all the time, how high a price are people paying to live in Dubai?

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Batman or James Bond?

How clothing and image can affect first impressions.

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Carlyle Group: the billion-dollar buyout barons

Each week Arabian Business turns the spotlight on a leading company.

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Arabtec goes for self-compacting concrete on DIFC tunnel project

The service tunnel under the Dubai International Financial Centre complex, which is approximately 1.4km long, 10m high and between 20-40m wide, has been completed.

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Turning up the heat: fast-track techniques give contractors winning advantage

If the sound of horsepower and the screech of tyres appeals, Motor City, which is currently under construction in Dubailand, may be for you. Christopher Sell fastens his seat belt and takes a journey round the site to see which contractors are overtaking the competition.

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Lasting liability

Aside his role as transport and logistics underwriter for Watkins Syndicate, Alan Wilkins is a frequent expert speaker at insurance workshops across the Middle East. As a result, few are better positioned to comment on the current liability conditions in the transportation sector.

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Tales of the unexpected

Investors will not be comfortable with Middle East real estate while so much legal uncertainty remains.

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CALYON joins the DIFC

The world's sixth largest bank has been granted a licence to operate in the Dubai International Financial Centre.

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New DIFC property laws implemented

New international regulations will guarantee freehold titles at Dubai's financial centre.

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Sukuk worth $10bn on DIFX

DIFC Islamic bond lifts value of sukuk on the exchange to more than $10bn.

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Emirates bourse merger ruled out

Sheikha Lubna, UAE economy minister, says that the Dubai and Abu Dhabi stock markets will remain separate.

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Goldman Sachs opens DIFC base

DIFC governor welcomes the global investment firm to the centre.

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Arif Naqvi: An acquired taste

Andrew White meets Arif Naqvi - CEO, Vice Chairman of Abraaj Capital, and undoubted optimist-in-chief.

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Growing the golden mile

James Bennett meets Michael Kiernan, executive chairman of Australia's Monarch Gold.

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DIFC prices $1.25bn Islamic bond

The Dubai International Financial Centre's first-ever Islamic bond sale will finance general activities.

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Al Mulla: UAE legal system must change

The former DFSA boss warns that the country could face 'immense problems' unless laws are updated.

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Authority figure

Former DFSA chairman Dr Habib Al Mulla talks about what direction the DIFC, and the UAE, should be going in.

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Going places

Yousef Al-Essa, CEO of Addax Bank explains how its focus on niche investments is paying off.

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First Saudi sukuk lists on DIFX

Property developer Daar lists a $600 million of Islamic bonds on Dubai exchange.

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Dubai financial centre to sell sukuk

The DIFC is planning to sell $1bn worth of Islamic bonds on its bourse.

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DIFC to bid for Scandinavian exchange

DIFC reportedly plans to counter Nasdaq's agreed acquisition of OMX.

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Dilmun rising

Why the Bahrain Business Bay will confirm Bahrain as the most sought-after property market.

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Fuelling the future

As global warming begins to take a hold on the world, renewable energy is a topic that is on everyone's lips. But what does the future hold for these new technologies in the Middle East market?

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A deal, not an exchange

Dubai's Deutsche Bank stake leaves it short-changed in global bourse consolidation, says David Westley.

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UAE Ship Owners' Association launched

National ship owners unite under single association banner to promote best practice.

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Dubai's DIFC buys $1.8bn Deutsche stake

The 2.2% stake in the bank follows last year's investment in exchange operator Euronext.

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Rasmala launches Saudi operation

Dubai-based investment house branches out with new division and management for the Kingdom.

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Lehman Brothers launch in Mideast

Offices in Dubai and Qatar are just the beginning; report praises region's 'strong growth'.

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Dealing with the complex issues

How can local law evolve to deal with the complexity of today's industry.

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Banks need proper risk mitigants

UAE Central Bank develops credit data sharing laws.

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Paper money

Financial institutions are coming up with new ways to cut printing costs without compromising security.

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Barclays tops Islamic bond league

Barclays Capital ranks as the number one underwriter, with a 23% market share according to Bloomberg.

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Jail is no solution to bad debt, says Emcredit

The UAE credit bureau is working with the Central Bank on new credit data sharing laws.

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Low carbon tower to be built in Dubai

The first low carbon commercial tower in Dubai will be built in Dubai International Financial Centre (DIFC).

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Closing the net

With cybercrime on the rise in the Gulf, a special unit has been created to fight back against the region's online fraudsters.

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Daiwa given DIFC licence

Daiwa Securities has been granted a licence to operate from the Dubai International Financial Centre (DIFC) as an authorised firm by the Dubai Financial Services Authority.

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Cyber crackdown

The discovery last week of another bogus investment scheme using Dubai International Financial Centre (DIFC) as a cover to trick investors out of money has again brought the issue of security to the fore. IT Weekly looks at what can be done to stop e-fraud.

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DFSA thwarts internet scam

The Dubai Financial Services Authority has closed down a Dubai-hosted website used to front an unlicenced investment company.

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Official launch of DIFC courts

Independent system will tackle legal matters within the DIFC and operate to international standards.

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Online fraudsters target Dubai

Another phony investment website has been shut down by the Dubai Financial Services Authority.

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Dubai's booming market demands more office space

Competition in the construction sector has seen rents in the emirate escalate and big-name international companies left waiting for space.

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Moody's makes Middle East debut

Ratings agency opens first regional office in DIFC to help meet growing local demand.

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Volatility and stability?

As DIFC aims to become a hub for hedge funds, regional investors need to understand them better.

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Re-branding the UAE through culture

"Can you buy culture? Yes. But can you imbed culture into people's hearts? No."

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Garden views

Ask anyone living in a high-rise apartment block what their home lacks and a large proportion will say a garden. But one scheme in the Dubai International Financial Centre is ensuring that residents don’t miss out. Alison Luke reports.

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DFSA secures Malaysia agreement

The Dubai Financial Services Authority has secured a landmark deal with the Securities Commission of Malaysia.

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DME ready for launch

The Dubai exchange will enlist as many companies as it can before trading begins.

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Dubai's DIFC plans $2bn acquisitions

Last year's stake in Euronext was 'a taster' for future purchases of financial information and services companies.

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Gulf to drop the dollar, says DIFC boss

The greenback will lose its dominance over currency peggings and foreign exchange reserves.

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The art of business

Art advisor and gallery owner Sundaram Tagore tells Melissa Hancock about how regional companies can become bastions of corporate art.

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High-tech high-rise

The ability to control your world at the touch of a button is here.

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Cybercrime hotspot

The UAE has begun to get a lot of unwanted attention from cyber-criminals and the latest threat report from Symantec suggests that recent high-profile attacks might be just the tip of the iceberg. IT Weekly examines the reasons behind the surge in e-crime

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Lancashire Holdings opens at DIFC

British-based global insurance specialist looks to strengthen regional business from Dubai financial centre.

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Emirates Glass wins major deals

Emirates Glass has won orders totalling over 75,000 m2 within the first two months of this year.

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Less than artful criticism

Damning criticism of the UAE's burgeoning art scene is at best hypocritical - and at worst, racist.

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DIFC Islamic finance course launched

Standard Chartered Bank to run course at DIFC to teach understanding of Islamic banking principles.

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Abu Dhabi plans $1bn Islamic bank

The government-owned Al Hilal Bank will offer retail and corporate banking services.

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Exchange IT provider opens in Dubai

AEMS, technology provider to international exchanges, clearing houses and banks, opens an office in DIFC.

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Allianz opens for business in DIFC

Allianz Re, the reinsurance arm of the Allianz Group, has been granted a licence by the Dubai Financial Services Authority to operate as an authorised firm within the DIFC.

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The growing threat

First Dubai International Financial Centre, and now Dubai eGovernment has been the target of cyber-criminals. All the signs are there that these incidents are not ‘one-offs’ and the region can expect more attacks. IT Weekly assesses the dangers facing the Middle East.

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Looking to the future

Infrastructure is the hot topic on CEOs’ lips this month. With the stabilising of the regional stock markets following last year’s fluctuations, and the return of investor confidence, the future opportunities for businesses wanting to invest in the region are looking brighter.

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Trend spotter

As the region continues to grow as a global financial hub Edward Poultney talks to Paul Forsyth, founder of Forsyth Partners, on the reasons behind the group’s relocation of its headquarters to Dubai’s International Financial Centre.

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Rising costs raise privatisation fears

PPPs are under threat, says a leading finance expert.

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Islamic Finance MBA

The world’s first Master of Business Administration (MBA) course with an Islamic Finance element is to be launched this year in London in association with Dubai International Financial Centre (DIFC).

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UK companies drive towards a greener future

Interest in sustainability is growing as companies begin to realise the financial benefits of employing green methods. Christopher Sell looks at two key UK players who are attempting to implement wholesale changes in the way the region conceives and constructs buildings.

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Enemies at the Gate

Last week's revelation that cyber-criminals were pretending to offer financial services out of DIFC to defraud investors out of huge sums of money was a real wake-up call for the region. IT Weekly looks at what happened and examines the wider threat.

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Region faces cybercrime wave

Cyber criminals are stepping up their focus on the Middle East, as more people go online, experts warned this week.

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ME needs stronger ties with Asia, Africa

DIFC boss Omar bin Sulaiman calls for better trans-regional cooperation.

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First Islamic MBA launched in London

The course will have an Islamic finance element and be linked with the DIFC.

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DIFC signs partnership with the FT

A link between the Financial Times and the DIFC will see more big-name summits in the region.

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Brunswick PR gains DIFC license

The PR giant gets the OK to operate at the Dubai International Financial Centre.

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Atkins takes up challenge of zero-carbon tower in Dubai

Plans for green development for DIFC will start a "groundswell" of innovative builds, says architect

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Arthur D. Little in Dubai

Global management consulting firm Arthur D. Little has opened an office in Dubai at DIFC.

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Local lenders bolster project finance deals

Governments across the region are looking to the private sector to partner in the development of infrastructure projects.

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Breaking point

Developers and contractors in the Middle East may be cutting corners when it comes to deploying IT infrastructure - specifically cabling - in some of the new mega projects. NME looks at the issues.

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Regional high for consumer optimism may spur spending

Survey by MasterCard finds most Arab consumers positive about immediate economic prospects

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DIFC issues data protection law

Dubai financial centre will consolidate best practices

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Setting the standard

Nigel Jones, the incoming CEO of Standard Chartered Bank UAE, explains how he intends to bring his experience of banking in other regions to benefit his new role.

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Dubai's rent cap could curb inflation

The Dubai government recently cut the existing annual “rent cap” of 15% to 7%.

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Spend! Spend! Spend!

A recent survey of consumers within the GCC region shows that confidence is almost at an all-time high.

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Merrill Lynch clinches DIFC license

The company will use its expanded Dubai base to bolster its Islamic financial services operations.

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On top of the world

Alexandra Dubsky on why the Middle East rides high in the worldwide consumer confidence league - despite its political instability.

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DIFC tower 50% complete

Al Mazaya Holding’s Sky Gardens is on schedule to be the first residential tower to be completed in the Dubai International Financial Centre (DIFC)

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Ata invest sets up shop in Dubai

Firm opens office in DIFC and aims to build stronger trading relations between Turkey and Gulf countries

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Real estate investment trust for DIFC

Dubai International Financial Centre (DIFC), Abu Dhabi Commercial Bank (ADCB) and the real estate division of Macquarie Bank of Australia have announced the signing of a memorandum of understanding to develop a real estate funds management joint venture.

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CA unleashes Clarity 8 for PPM

Solution will help better align budgets and busines

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East meets West at DIFC

More than 2500 VVIPs attended second anniversary

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UAE opens first credit bureau

Body backed by Economic Department will record information on creditworthiness of borrowers

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MENA urges better governance

Meeting calls for new measures to boost transparency

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Mashreq Capital

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DIFC to get software upgrade from SAP

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DIFC will gain a clearer view of operations

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DIFC firms to be linked with SAP

ERP software will be used to provide access to internal services

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NewDawn to manage US $2 billion

Dubai International Capital LLC (DIC), the international investment arm of Dubai Holding, has launched NewDawn GSE Asset Management Limited (NewDawn)

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NTDE to open five concept stores at DIFC

NATIONAL Trading and Developing Establishment (NTDE), a UAE-based distributor of FMCG products, is planning to open five new outlets.

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Answering the call

Leading brokerage EFG-Hermes has implemented an intelligent IP telephony solution to make life easier for clients and staff alike. Daniel Stanton finds out more.

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Oger sets up office at DIFC

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Hawkamah/IIF Laud Governance

Standards in GCC improving, says co-authored report

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DUN & Bradstreet lands in DIFC

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Chinese Institution Enters DIFC

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AIG Creates Direct Presence

AIG MEMSA to oversee ME operations from DIFC

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Goldman Sachs hits DIF

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Hawkamah works with Yemen

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Indian fund sets sights on GCC

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READER COMMENTS

  1. UAE announces Eid and National Day holidays 02
    21 Nov ' 09 at 10:22
    Is it any wonder that Emiratis are reluctant to work in the private sector? One day extra and no request for early payment of salaries.   More  »
  2. RTA to lease out last batch of retail outlets available on Red Line 01
    21 Nov ' 09 at 14:10
    What happened of Last Minute and their 28 outlets - one on each station?   More  »
  3. Dubai plans start-up help for expat entrepreneurs 01
    21 Nov ' 09 at 11:37
    this is great news really makes sense, especially since Small & Medium Enterprises actually make UAE. I sincerely hope that this is...   More  »

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