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Friday, 19 December 2014 This newsletter reaches 126,954 readers, to advertise click here
NEWS »

Dubai Tram crashes into car near JBR

Emergency services attend the scene but no damage caused in first incident involving new transport system

Etisalat websites hacked, defaced with Chinese text

UAE-based telco's .com and .ae websites impacted; visitors presented with Chinese characters

Dubai's bourse rockets 13% as oil price rebounds

Stock markets in the UAE, Saudi Arabia soar as the price of Brent jumps to nearly $63 per barrel

Dubai's DP World says shareholders back $2.6bn EZW buy

Shareholders support plan to build Economic Zones World plus delisting from the London Stock Exchange

Saudi minister says oil price slide 'temporary', remains optimistic

Oil Minister Ali al-Naimi says it is difficult for Saudi Arabia and OPEC to reduce output

Kuwait says accepts Iraq request on Gulf war reparations

Iraq is seeking to defer payment of $4.6bn for one year as its economy is hit by falling oil price, war with ISIL

Kellogg outbids Abraaj for third time in race for Egypt's Bisco

Breakfast cereal giant raises bid for snack maker, outbidding Dubai-based private equity group

Saudi Arabia to keep spending on projects in 2015 budget

Finance Minister also commits to spending plan for social benefits despite 'challenging' global conditions

UAE economy minister reassures investors after bourse plunge

Sultan bin Saeed al-Mansouri says ups and downs in stock markets are normal, likely to resume upward trend

Former British regulator to advise Abu Dhabi financial zone

Hector Sants, a former investment banker who headed Britain's financial services regulator, is appointed

World’s largest Apple store to open in February

New store at Mall of Emirates set to eclipse Apple’s Grand Central Store in New York

Dubai Airport's top tips for expats flying home for Christmas

Airport operator issues an advisory for passengers to ease their travel through Dubai International over festive period

Launch of Alwaleed's Alarab news channel delayed to Feb 1

Saudi billionaire's new 24-hour news channel was due to begin transmission before the end of 2014

Dubai-based company to build $1bn skyscraper in Morocco

Middle East Development said to be behind 540-metre skyscraper; will be Africa’s tallest tower

Kuwait launches investigation into death of maid attacked by lion

Minister says legal procedures will be taken against those responsible for the woman’s death

Saudi Arabia's religious police close 10,000 Twitter accounts

Haia spokesman says the account users committed religious violations and face up to five years in jail

Swedish male model jailed in Dubai on drugs charge launches online campaign

Farzan Athari, who is serving 10 yrs for possessing cocaine, has released a song on Youtube

Qatar predicts booming economy in 2015 despite oil price slide

Official figures suggest economy will grow by 7.7% in 2015, slightly slower than previously expected

Emaar to distribute $2.45bn special dividend on Dec 23

Dubai-based real estate giant says total dividend for 2014 will exceed $4.6bn, a record for the region

Emirates hit with fine, told to reduce flights to Manila

Airline surprised by action of Civil Aeronautics Board in Philippines

Gov'ts must adopt to rapid changes in the Arab world, says Dubai ruler

Sheikh Mohammed said the region will experience economic, political and social changes that will require flexible and wise policies to cope with them

OPINIONS »

Opinion: Khalaf Ahmad Al Habtoor on the current stock market turbulence

UAE businessman says just because some investors are selling shares at lower prices doesn't mean others should follow suit.

Oil prices are now unsustainably low: Kemp

Reuters market analyst John Kemp says if prices remain at current depressed levels, almost all shale drilling activity will eventually cease

Who were the stars of 2014?

Companies like Etisalat, Emaar Properties and flydubai stood head and shoulders above the rest, says Anil Bhoyrul

Should I or should I not do an MBA?

MBA specialist Ahmed Sharawy looks at the options

Smartphone generation: MENA's overnight mobile internet revolution

How smartphones have brought online services to a new category of users in the Middle East

The perfect prince

For the 11th year running, HRH Prince Alwaleed has taken the top slot on the Arabian Business Rich List, with a net worth of $28.1bn

Time for big nations to declare war on FIFA

Without top-tier sponsors, the long and painful reign of Sepp Blatter and his cronies may finally be coming to an end, says Anil Bhoyrul

Property pirates

Many developers are so focused on their future gains that they don’t realise that the future cannot benefit them if they neglect the present, says Mishal Kanoo

Why Dubai should consider removing the rent cap

Property prices in Dubai seem to be fairly stable, and it may be time to rethink the need for the rent cap.

The bravest thing Branson could do right now is hang up his space helmet

Quitting Virgin Galactic now would not be weak, or cowardice, but brave and heroic, says Anil Bhoyrul.

VIDEOS »

EU Commission speaks on ambitious investment plan

As EU leaders descend on Brussels for the final major summit of the year, a new investment plan to ignite the blocs ailing economy is set to top their agenda's.

Palestine sets deadline on Israeli occupation

Jordan has submitted a draft resolution on ending Israel's occupation of Palestinian lands captured in 1967 to the UN Security Council for a possible vote.

Malala joins condemnation of Taliban attack

The words of Nobel Peace Prize winner Malala which mixed with children, parents and politicians as the world reacted in shock to the Taliban attack.

Hamas to be removed from EU terror list

The Palestinian Islamist movement Hamas must come off the EU's blacklist of terrorist organisations. It's a ruling from the General Court of the European Union, the EU's second highest court.

Latest Reader Comments

Nakheel said to plan restart of delayed $550m Vietnam project
Amiro : Well why not. Nakheel took our money 10 years ago to build Palm Jebel Ali. With our money still in its pocket decides to restart delayed Vietnam project rather than long delayed Palm Jebel Ali project. What is the logic behind this?
...
Unitted Kingdom - Saturday, 20 December 2014 2:31 AM

UAE sees talent shortage as more expats stay at home
WHJ : SA1. "all these sector you noted is driven by economy of regional countries....". I'm sure you'd like to think so...but I'm afraid that's not entirely the case. You seem to forget about the Chinese, Indians, rich investors from Iran, the levant and North Africa....etc.
"So if other GCC countrie...
UAE - Friday, 19 December 2014 6:32 PM

European clubs call for Qatar 2022 World Cup to be held in May
Muhammad : I think march and April is best in 2022, since it's before ramadhan and weather is not hot and not cold and Qatar is already making grounds with air coolers so its perfect time. One of the European event can be shift in consultation with FIFA. Why these people are making it more ego issue than huma...
pakistan - Friday, 19 December 2014 5:33 PM

Emirates claims victory in legal battle over key Milan-New York route
Arab Expat : probably because India does not allow them to do the same.

Singapore Airlines picks up passengers from Dubai for onward flights btw, and Singapore allows Emirates to do the same in Changi ........ It's give and take, don't take if you're not willing to give...
UAE - Friday, 19 December 2014 5:32 PM

Dubai's bourse rockets 13% as oil price rebounds
Simon : And just one day later...Friday 19th at 12noon...Oil is back down to $59.50/Brl. Good job the DFM is not open today as I just wonder what this journalist would have to say about it...

Funnily enough, last nights S&P/DJ rose...but that was, I would suggest, a distortion that will be rectif...
Dubai - Friday, 19 December 2014 12:24 PM

All READER COMMENTS
     
EDITOR'S CHOICE »
1.

Emiratis killed in plane crash in Egypt

2.

Sheikh Mohammed launches new roadmap for growth with Dubai Plan 2021

3.

UAE announces New Year holiday for public, private sectors

4.

FIFA investigator Garcia quits over handling of Qatar 2022 report

5.

Dubai house prices, rents dip during Q3, says Cluttons

6.

Saudi open to debating the ban on women drivers, says Shoura Council leader

7.

$49bn wiped off value of Gulf stock markets

8.

Iranian gunman, two others killed as Sydney hostage siege ends

9.

Developer launches Sweden Island on Dubai's The World

10.

Emirates claims victory in legal battle over key Milan-New York route

FEATURES & ANALYSIS »

Slumping oil won't derail $500bn Gulf infrastructure plan

Rich GCC nations will deploy huge reserves to maintain a breakneck development pace

Big Gulf sell-off fuelled by credit, lax regulation

New impetus to governments in the region to improve financial regulation to reduce the credit-fuelled volatility

Saudi Arabia's rulers reconsider ties to Wahhabi clergy

Ruling family increasingly view the teachings of some of its ultra-conservative clergy as a domestic security threat

Sultan's absence raises worries over Oman succession

Omanis are worried that their childless leader, who is abroad for medical treatment, has no publicly designated heir

The lion's roar: Ashish J Thakkar

Twenty years ago Ashish J Thakkar watched his parents flee the Rwanda genocide having lost everything — again. Today, based in Dubai, the company he started to help get his family back on their feet is a monstrous conglomerate in 22 African countries, and is worth more than $1bn

What former Emirates NBD chief Rick Pudner did next

Rick Pudner was one of the most high-profile bankers and expats in the UAE before he quit as Group CEO of Emirates NBD, Dubai’s biggest bank. Now he’s back and looking to launch a whole new financial model

Shaking things up: Accor CEO Sébastien Bazin

It can be the worst nightmare of an employee or a shareholder: a new CEO sweeps in and shakes things up. But Sébastien Bazin says his radical makeover of leading hotel owner Accor will make the company a household name

Fighting talk: Mohammed Mahfoodh Al Ardhi

Mohammed Mahfoodh Al Ardhi got his early training as a fighter pilot and recently was unveiled as the new executive chairman of Bahrain-based investment firm Investcorp

Saudi Arabia builds start-up culture with state oil money

Gov't has previously has found it hard to promote start-ups in a society which lacks a culture of risk-taking

Is this the end of F1?

By this time next year, five of the current 11 Formula One teams will probably be out of business.

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IN PICTURES
PHOTOS: The White House replica in Kurdistan takes shape
Dream City, one of several high value residential areas that have been built in the Kurdistan capital since 2003, features a $20m replica of the Washington DC icon.
PHOTOS: Bangladesh: The world’s largest human national flag
Bangladeshi participants form the world’s largest human national flag to mark the country's Victory Day in Dhaka on December 16, 2013. A total of 27,117 volunteers, mostly students, used coloured tiles to form the flag at Dhaka's National Parade Ground.
PHOTOS: Kurdistan’s bid to become ‘the New Dubai’
Dream City, is one of several high value residential areas that have been built in in Erbil, Iraq, since 2003 and are complete with their own mosque, shopping areas and schools. Despite insecurity in the rest of Iraq, the semi-autonomous region of Kurdistan has been seen by some investors as the new Dubai and although the advance of ISIL and a budget row with Baghdad has dampened some of the enthusiasm, the city skyline is still changing at a rapid pace.
PHOTOS: The world mourns Pakistani victims
People around the world attend candlelight vigils for the 132 students killed in a terror attack yesterday in Pakistan. The Pakistani Taliban have taken credit for the attack that killed more than 145 people total.
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