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Thursday, 30 October 2014 This newsletter reaches 155,909 readers, to advertise click here

‘How my Dubai mortgage landed me in a police cell’

An ongoing dispute between a developer and a bank and breakdown in communication ended in handcuffs for one buyer

Dubai to give 40kg in gold coins to weight-loss winners

Rewards, worth a total of $1.6m, will be distributed in December at function in Zabeel Park

MidEast investors part of $1bn+ Frank Gehry-designed LA project

Exclusive: The development in Downtown LA will start construction in 2016, in time for an early 2019 opening

Dubai Metro fault leaves rush hour commuters stranded

Train service stalls for up to an hour as engineers rectify fault

Prince Alwaleed offers Saudi football players $26,000 bonus payday

Royal also said he would pay for free entry for all fans of Al-Hilal, with the stadium able to host a crowd of in excess of 65,000

McDonald’s signs up to sponsor Qatar World Cup 2022

Fast food giant will be the official restaurant for the tournament

Sweden to officially recognise Palestinian statehood

Announcement marks the first major European country to do so

Britain's Cameron appeals to Qatar emir for more investment

Urges Gulf state to invest in developing the north

14-year-old detained in Austria for trying to go fight for ISIL

Teenage boy had also researched on the Internet how to build bombs

Saudi Arabia's Kingdom Holding Q3 net profit rises 20.5%

Investment firm owned by billionaire Prince Alwaleed bin Talal reported a quarterly net profit of $70.6m

Businessman to build $17m White House replica in Iraq

The copy of the US icon will be located just miles from ISIL-controlled territory

For sale: Ten luxury castles currently on the market

The lavish stately homes in Europe and beyond, starting from just $290,000 and up to $25m


Indian power means UAE power

We present the most influential men and women of Indian origin who are making a difference in the UAE’s business and industry today

Cracking the online payments puzzle in MENA

Khaldoon Tabaza looks at why both investors and founders are worried about venturing into e-commerce businesses

Do you actually own your house?

Transparency and disclosure should be the hallmarks of any mature property market, says Ed Attwood

Should Dubai introduce a second stock market?

Anil Bhoyrul poses the question as analysts suggest up to 25 firms in the UAE are now planning an IPO

Of course I don't need a shrink

Learning about yourself is one of the most rewarding journeys you'll experience, says Silja Litvin

Is Branson the man to shake up the telecoms industry?

The introduction of MVNOs is the biggest change to Saudi Arabia’s telecoms sector in many years, says Anil Bhoyrul

Second time lucky on The World?

Promises from developers of the islands have come and gone but is it different this time, asks Ed Attwood

Good times are over for Dubai property... and we should be thankful

Despite the big project announcements at Cityscape, the evidence suggests Dubai’s real estate market is becoming more mature, says Anil Bhoyrul

Achieving 20m by 2020: DTCM chief Helal Saeed Almarri

Dubai's tourism boss on becoming one of the world’s most visited cities


Qatar’s Emir Sheikh Tamim in London

Britain's Prime Minister David Cameron meets the Emir of Qatar, Sheikh Tamim Bin Hamad Al Thani inside 10 Downing Street in London.

Two-year anniversary of Hurricane Sandy: A look back

Hurricane Sandy made landfall last year on October 29th near Brigantine, New Jersey and affected 24 states and cost the country an estimated $65bn.

Royal Navy and Royal Marines march to Parliament

The Royal Navy and Royal Marines have been invited to march into Parliament where MPs will thank them for their dedication to global operations.


Iraqi City gets its very own White House

A wealthy Kurdish man who's always admired the White House for its "beauty and simplicity" is building a replica in the Iraqi city of Erbil.

India urges thousands to move from airport slum

Thousands of Indians live on the doorstep of Mumbai airport. That's creating security concerns so the homes have to go.

Hong Kong marks 'Umbrella Revolution' milestone

Demonstrators want an end to Beijing's power to vet candidates for Hong Kong's 2017 elections.

Kenya's Somali refugees divided on homeland

The UN Human Rights Commission is calling attention to some 300,000 refugees who have escaped conflict and famine from neighbouring Somalia.

Latest Reader Comments

Do you actually own your house?
skp : This is unbelievable from Nakheel. In a case where we want landscape our garden with some tiles and grass costing around 12500, Nakheel is demanding a fee of AED 2500 which is 20% of the cost.. This is attrocious.....
uae - Thursday, 30 October 2014 9:06 PM

‘How my Dubai mortgage landed me in a police cell’
Awi : I live in the UAE for 10 years. I have had friends flee the country for similar cases. Since no change occurred in the banking system, incidents like this will continue to occur. Make sure you have loads of money before buying property in the UAE! BEWARE! Banks will beg you to take their loans, but ...
UAE - Thursday, 30 October 2014 9:06 PM

Bahrain to increase visitor visa fees
Jason : they increased the visa fees by 500%. Isn't this worthy news to pick up for debate on what is reasonable and excessive?...
Canada - Thursday, 30 October 2014 9:05 PM

Saudi diplomat arrested for 'erratic driving'
Herry : In Saudi Arabia, alcohol is banned ! Hopefully this idiot is disciplined accordingly !...
Canada - Thursday, 30 October 2014 5:57 PM

Visa fee hike for expats in Oman from Nov 21
Wadi : Such a badly organized and ill thought out process.

The absolute shambles when trying to extend a visa at Muscat airport merely serves to highlight the breathtaking incompetence of the Omanis working there.

As a long staying tourist (and one who spends a fairly significant amount ...
MCT - Thursday, 30 October 2014 5:56 PM




Yusuffali MA tops Indian Power list for fifth year running

RP Group’s Dr Ravi Pillai placed second, with Feroz Allana third in rankings of 100 most influential Indian expats


Etihad, Alitalia offer concessions in bid for EU approval for stake deal

European Commission says that it will decide by November 17 whether to clear the 49% stake deal


Dubai's Emaar posts 21% jump in Q3 net profit

Real estate giant reports net profit of more than $206m despite drop in revenue for three months to Sept 30


Most Dubai rents continue to fall in Q3, says regulator

Downtown Dubai, JBR, Greens Community and Arabian Ranches all witness decreases - RERA Index


Don't panic over oil price collapse, says OPEC chief

Steep drop in oil prices has raised the question of whether OPEC will cut its output to support the market


Rise in UAE residents using credit cards, loans to clear existing debts

Survey results reflect growing concern over the rising cost of living as Dubai inflation hits highest level since 2009


Dubai sheikh offers $1m to buy replica Batmobile

Iconic car is based on the 1989 movie staring Michael Keaton


UAE builders face cash crunch of late payments, low margins

Pressure on contractors means some of the glamorous new mega-projects announced may fall well behind schedule


Macy’s to open first store outside the US in Abu Dhabi

Deal will also include the UAE’s second Bloomingdale’s, which will be the largest department store in the MidEast


Qatar fund set to buy Canary Wharf tower for $1.7bn

HSBC’s global HQ sale would be one of the largest property deals in London


Hard Rock Int'l has Qatar in sights in MENA expansion plan

World famous US brand says it is in talks for new hotels in Qatar, Morocco, Egypt to follow up Dubai debut in 2015


Madame Tussauds says 'no plans' for MidEast wax museums

Dubai owns 18% in its parent company and recently resurrected plans for LegoLand Dubai


Power and profits

The most influential members of the Gulf’s largest expatriate community

Saudi Arabia, Kuwait shared zone tensions underlie oilfield closure

Crude output from jointly-run offshore Khafji oilfield has been halted temporarily to comply with environmental rules

Interview: RP Group's Dr Ravi Pillai

Dr Ravi Pillai launched his first business at the age of 14, trading in coconuts so he could afford school books. Three decades later, his RP Group brings in revenue of $4bn and employs 80,000 staff, helping make him one of the world’s richest Indians

Fears for tough penalties grow as India cleans up business

Country’s regulators feel emboldened to take on even companies long sheltered by political connections

Straight bat: Australian cricket captain Michael Clarke

Michael Clarke gives the inside view on being the Australian cricket captain, including his public rants against team selectors, and gives his input on whether Dubai, the home of the International Cricket Council, is doing enough to support the game

Keeping the faith: HMH's Laurent Voivenel

UAE-based Hospitality Management Holdings’ chain of Sharia-compliant hotels is expanding quickly, in line with the growth in the region’s hospitality market. New chief executive Laurent Voivenel says he is keen to target the mid- and low-range segments of the industry

Revealed: The countries the ISIL militants come from

Thousands from Saudi Arabia and Morocco have flown to Syria to join the fight - report

Walking on air: Naji Skaf

When Naji Skaf was appointed CEO of gas group Gulf Cryo well in advance of his 40th birthday, he raised several eyebrows. The young executive discusses how he uses his age to his advantage, what it’s like trying to advance within an established family business, and how he’s taking the company to the next level

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