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Thursday, 19 January 2017 This newsletter reaches 155,909 readers, to advertise click here
NEWS »

Dubai developers hit with new rules on building permits, completion certificates

SIRA approval on security systems now mandatory for all developers in Dubai, says official

Trump's Dubai golf course set to open in February

Development partner Damac says wants to do more projects with the Trump Organisation

QNB said to raise $1bn syndicated loan in Asia

Agricultural Bank of China said to have leading role in three-year facility

Dubai registers $3.27bn of real estate deals in January

Property transactions declined year-on-year in 2016 but this year's growth prospectives 'positive', DLD says

Sobha Group to hand over first homes in new luxury scheme by end-2018

70-unit Quad Homes development announced this week, with private lifts and sky roofs

Rain likely in UAE at weekend, says Met

Winds and higher humidity also expected between Thursday and Monday

OPEC points to growing stability in oil market

Oil supply surplus has dropped in 2017 as producers comply with last year's accord

Dubai says registered 44% rise in completed buildings in 2016

Municipality also reports 827 construction accidents, plus instances of site violations

Kuwait banking to remain 'subdued' in 2017 – research

Infrastructure projects to boost lending but subsidy cuts will impact on household spending, says BMI

Saudi Arabia's Al Rajhi Bank reports 5% profit hike

Kingdom's second-largest lender by assets has reported five consecutive quarters of profit

OPINIONS »

Why UAE expats want more from a skilled economy

The UAE will need to ensure a good quality of life for residents if it is to meet its goal of increasing the number of professional workers, says Courtney Trenwith

Healthy food to drive growth in retail sector

GCC consumers’ increasing holistic approach to choosing healthy and well-priced items presents a big opportunity for retailers in 2017

How to find value in uncertain times

GCC equity valuations remain reasonably attractive given the global economic circumstances, and investors are becoming more comfortable with investing in start-ups

Tourism strategies will feed the MICE sector

New players will have to build on their unique selling points to establish themselves as a serious destination for business events

Confronting the refugee crisis

A more realistic approach will help combat fear and uncertainty that threatens to divide us even further

Accelerating the reform agenda in the GCC's financial markets

GCC financial markets will benefit from governments’ increasingly reliance on external funding

Interest in affordable housing is rising, says Danube's Rizwan Sajan

After largely ignoring the lower property segment, developers and investors are realising its potential

Private equity activity in Gulf region to increase significantly

Fast-growing sectors such as e-commerce, food, FMCG, logistics and business services will dominate investment

PHOTOS »

In pictures: World Economic Forum in Davos

China's President Xi Jinping the leader of the world's second largest economy made the comment at the World Economic Forum, where he is making his first appearance as China seeks to play a greater role in world trade regimes amid rising protectionism in the US and Europe.

In pictures: Preview of Abu Dhabi HSBC Championship at Abu Dhabi Golf Club

World number two Rory McIlroy has withdrawn from the HSBC Abu Dhabi Championship after tests on Monday showed he picked up a rib injury in South Africa last week.

In pictures: Latest robots on display at Robodex Trade Show

Approximately 160 exhibitors participated in the trade show in Tokyo, which covers development, technology and application of robots.

Revealed: Worst passwords in 2016

If you see yours, change it immediately!

VIDEOS »

Video: Iranian women volleyball duo make history

Maedeh Borhani and Zeinab Giveh are the first Iranian women volleyball players to play outside the Islamic Republic after joining Bulgarian club Shumen.

Video: Whistleblowers - Heroes or traitors?

Snowden, Assange, Manning. A piece of art in Berlin representing the three famous whistleblowers is meant to encourage citizens to speak out.

Video: HSBC plans Paris move after Brexit

HSBC has announced it will move staff responsible for generating around a fifth of its UK-based trading revenue to Paris following Britain's exit from the European Union.

Video: Strong earthquakes hit central Italy, no injuries reported

A spate of strong earthquakes hit central Italy on January 18, unnerving residents shaken by last year's deadly tremors and forcing hundreds of schools, rail links and the underground metro in Rome to close.

Latest Reader Comments

Some banks baulk at pricing of Dubai's metro loan
Aleem Rauf Khan : This is crazy! Banks are suffering because Government withdrawing deposits and then now getting a bad deal with lower pricing. Neither the Gov nor the banks will gain from this. Dubai government rating (presumed) is worse anyway. Banks are likely to focus on other economies in the region such as Kuw...
United Arab Emirates - Thursday, 19 January 2017 8:32 AM

Calling adventurous UAE entrepreneurs and angel investors
Hosam Eldeen Mostafa : Great initiative by Mr. Karmi, we hope to see more of these events at MENA region with lower costs for entrepreneurs ...
Egypt - Thursday, 19 January 2017 8:41 AM

Emirates launches paid-for access to business, first class lounges at DXB
MT3 : Anyone sensible who pays USD 100 for lounge access is going to be devastated. The Emirates lounge in Dubai is woeful even after the refurbishment and depending upon the time of day you'll be lucky to get a seat to sit on and you'll need the patience of a saint to endure the toilet queues.
UAE - Thursday, 19 January 2017 8:41 AM

India-UAE ranked world's second largest migration corridor in 2015, says OECD
Laurence Bowen-Carter : The UAE should now be considered a state of India :)
Seems to be that local identity is diminishing. The numbers don't lie. ...
United Kingdom - Thursday, 19 January 2017 8:41 AM

Alabbar says Noon to focus on fashion to drive $70bn sales target
ABC : He is not claiming to have 15% market share. His claim is that online sales will represent 15% of all retail in the region....
UAE - Wednesday, 18 January 2017 7:55 AM

All READER COMMENTS
     

EDITOR'S CHOICE »

1.

US giant Amazon said to walk away from deal to buy Dubai's Souq.com

E-commerce business is now reportedly seeking other potential investors, in talks with mall operator Majid Al Futtaim

2.

Etihad says not looking to take stake in Germany's Lufthansa

Spokesman for Abu Dhabi airline denies reports that it may take financial stake in rival carrier

3.

Emirates retains title of UAE's best perceived brand

Dubai-based airline tops 2016 BestBrand Rankings after return of Jennifer Aniston in its global ads

4.

Dubai Crown Prince approves new maternity leave policy for gov't staff

New rules will extend maternity leave to three months fully paid, effective from March 1

5.

Entrepreneur of the Week: Sanuj Kohli, founder of LEME Group

Our latest Entrepreneur of the Week, Sanuj Kohli, founder of LEME Group, has started expanding his business into East Africa.

6.

Damac chief sees Dubai property stabilising over next two years

Chairman Hussain Sajwani says company is looking to expand in Saudi Arabia, Qatar and London

7.

Where to shop in Dubai for your ski holiday

Your ultimate guide for the best places and prices

8.

Broadway musical Cats set to extend run at Dubai Opera

Strong demand for tickets results in organisers adding three more nights later this month

9.

Oman Air plans to double contribution to GDP to $2.3bn in 2017

National carrier sees continued fleet and network expansion despite major reduction in government financial support

FEATURES & ANALYSIS »

Room for change: AccorHotels CEO Sébastien Bazin

A few months after buying FRHI Hotels & Resorts from investors including Qatar Investment Authority and Kingdom Holding, AccorHotels CEO Sébastien Bazin denies the hotel management firm is growing too fast. In fact, he intends to pick up the pace – especially in the GCC

Grooming success: Negin Fattahi Dasmal

The founder of salon concepts including the exclusive 1847, Negin Fattahi Dasmal claims to have set the standard for the UAE beauty industry. The perfectionist details how she did it

Young wheels: Rolls-Royce CEO Torsten Müller-Ötvös

Rolls-Royce’s millennial-makeover has shaved 10 years off the average age of its drivers - helped by a surge in popularity among the GCC’s ultra-wealthy, says CEO Torsten Müller-Ötvös

Drilling down: Dana Gas CEO Dr Patrick Allman-Ward

Years of frustration appear to be ending for Dana Gas, who look set to capitalise on investments in both Kurdistan and Egypt to spur its next cycle of growth.

Markets cheer Saudi deficit-cutting but finances still hostage to oil

Cost of insuring against a Saudi sovereign debt default fell this week to its lowest since September 2015

Saudi-Iran crisis, economic woes strain Oman's neutrality

Oman has never found it easy to balance relations with Saudi Arabia to the west and Iran to the north

Going public: tycoon BR Shetty

Indian-born BR Shetty turned the meagre $7 with which he arrived in the UAE in the 1970s into a personal fortune estimated at $1bn. In a rare interview, he tells Arabian Business about new plans for the businesses that made him rich - NMC Health and UAE Exchange - revealing little sign of slowing down at 70 years of age

Strong foundations: DLD's Ali Abdulla Al Ali

Dubai Land Department executive Ali Abdulla Al Ali reveals the motives behind regulatory changes to the emirate’s prized property sector and how it will help strengthen investor sentiment

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