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Friday, 27 November 2015 This newsletter reaches 126,954: readers, to advertise click here

Dubai hedge fund 'to close' amid suspicions of Danish tax fraud

Sanjay Shah’s Solo Capital Partners is reportedly under investigation by Danish authorities sees 10-fold surge in sales on first day of 'White Friday'

Middle East's largest online retailer says two items were sold every second during day 1 of pre-Christmas sale

UAE says to lower gasoline, diesel prices further in December

Ministry of Energy announces small decreases of between 1-2% in prices to kick in at start of next month

Abu Dhabi F1 race tickets sell out, say organisers

This weekend's Formula 1 Etihad Airways Abu Dhabi Grand Prix has sold out for the seventh year running

Zurich says to exit UAE general insurance business by end-2016

Company review concludes that investment needed in market was not justified by its limited growth potential

UAE says motorists face $816 fines for National Day car violations

Ministry of Interior warns that vehicles will also be impounded for car decoration violations during celebrations

Saudi Arabia imposes sanctions on senior Hezbollah figures

Gulf kingdom takes action against 12 key figures accused of carrying out terrorist operations

UK stamp duty hike 'unlikely' to deter expat investors

Chancellor adds 3% tax surcharge to purchase of buy-to-let properties in UK

US private equity firms buy stake in UAE payments processor

Warburg Pincus and General Atlantic buy 49% stake in Network International from The Abraaj Group

UAE medical college wins green light for expansion

Abu Dhabi Urban Planning Council backs plan for College of Medicine and Health Sciences in Al Ain

Saudi builder Binladin said to cut about 15,000 jobs

Sources say construction company to shed jobs in a sign of pressure on the industry as Saudi gov't trim spending amid low oil prices

Uber launches $612 helicopter service for Abu Dhabi F1

App-based taxi service part-owned by Qatar is offering a special door-to-door service from Dubai

Sheikh Mohammed launches $544m fund to support innovators

Sheikh Mohammed bin Rashid Al Maktoum Fund To Finance Innovation is set to launch official operations in H2 2016

Dubai unveils plan to grow to four times its size

New blueprint for the city to house 9.5m people, currently has 2.1m residents

Triplets' family backs appeal over Villaggio Mall death acquittals

Parents of young fire victims welcome move by Attorney General to appeal latest verdict in Qatar court case

Serco wins deal extension for Palm Jumeirah monorail system

Nakheel hires services firm to operate and maintain Dubai monorail for a further five years

US ambassador to Qatar targeted in fake social media account scam

Accounts claiming to be Ambassador Dana Shell Smith seek money through fake LinkedIn accounts

Dubai builder Arabtec replaces acting CEO

Former CEO Hasan Ismaik quit after a dispute with majority shareholder Aabar, while other senior staff have also departed

Saudi cabinet imposes 2.5% yearly fee on undeveloped land

Gov't has been mulling for years whether to use taxes to push owners into developing unused land to help stem housing crisis

UAE's third largest lender said to cut close to 100 jobs

Sources say First Gulf Bank shed jobs last week in latest sign that banks are adjusting to deteriorating market conditions


Why the lack of a bankruptcy law hurts innovation

The UAE has laid out the welcome mat for entrepreneurs but the increasing number fleeing debt is yet more evidence of why the country must have a bankruptcy law, says Courtney Trenwith

A holding pattern for the Dubai Airshow

The showpiece event still stole the headlines, even if the big-money orders of 2013 were absent, says Ed Attwood

The race for Africa

The world is competing for the emerging region’s immense opportunities but the GCC’s reluctance to invest in its neighbour could leave it lagging far behind, says Courtney Trenwith

Profits and (eradicating) poverty can be friends

An impressive array of social entrepreneurs are changing the world, and making money at the same time, says Courtney Trenwith

Will the airline subsidies debate ever end?

Emirates Group has paid $4bn worth of dividends to the Dubai government in the past 30 years, so who is helping out who, asks Ed Attwood

Can we believe the forecasts about the Dubai real estate market?

Ziad El Chaar, managing director, Damac Properties, criticises the glut of market research, often presented 'without any effort to scrutinise the basis and reliability of the numbers'

Why Gulf expats should take responsibility for their retirement

Pension plans are not common in the Gulf, so it is essential for employees to plan ahead, says Courtney Trenwith

Saudi Arabia is playing 'oil poker' with the world but will the gamble pay off?

If other major oil players such as Russia and North America maintain or increase their oil production, prices can stay low longer than Saudi Arabia anticipated, which will decrease the kingdom’s reserves further and faster


100 years of General Relativity

On November 25, 1915, 35-year old German-born Albert Einstein presented a series of equations to the Prussian Academy of Sciences.They were an attempt by him to broaden the scope of his more limited, but now more famous, special theory of relativity, best known by the formula E=MC2, published 10 years earlier.

'There and back again' - Amazon founder has success with reusable rocket

A New Shepard rocket owned by the American company Blue Origin, owned by Amazon founder Jeff Bezos, has lifted off and returned safely to Earth for the first time.

UN warns of climate change's effect on children

The United Nations is warning that children are the worst affected by climate change. It says nearly 700 million of them live in areas at the highest risk of severe drought and flooding.

Latest Reader Comments

Air rage: Is this Emirates’ worst ever passenger?
Sal : Airlines should limit alcohol offering on a plane. ...
Canada - Monday, 30 November 2015 8:39 AM

Dubai hedge fund 'to close' amid suspicions of Danish tax fraud
Curious Person : Very interesseting. You aught to work a little more on this story and try again to get in contact with Sanjay Shah. The man owes an explanation to the world and Dubai.
United Kingdom - Monday, 30 November 2015 8:39 AM

Solar panels on every roof by 2030: Dubai's $13.6bn ‘clean energy’ drive
Harish M. Vaswani : HH Sheikh Mohammed Bin Rashid Al Maktoum is one of a kind of leaders. Fore-Sighted and brilliant in planning the destiny of his country and par-excellence in implementing his plans.

No wonder Dubai and the UAE have emerged winners, leaders, front-runners on various aspects of modern civilis...
India - Monday, 30 November 2015 8:39 AM

Qatar imposes travel ban on contractors amid rain damage probe
matt williams : You get what you pay for....
UAE - Monday, 30 November 2015 8:39 AM

Emirates said to boost India's GDP by $848m per year
Suresh : No one is talking of the losses Air India has suffered because Emirates has taken away a huge chunk of its Europe and US business. Emirates I think operates to 7 - 8 cities in India where as Air India can land only in Dubai. Emirates picks up Indian passengers bound for UK, US, Africa but Air Indi...
India - Monday, 30 November 2015 8:40 AM


Saudi justice minister to sue Twitter user who condemned poet's death sentence


Air rage: Is this Emirates’ worst ever passenger?


Illegal TV vendor jailed by Dubai court


Entrepreneur of the Week: Mohamad Sharif Al Zarooni


Leaking roof causes floods at Doha’s $15bn Hamad Int'l Airport


Revealed: the Middle East's 20 most in demand employers


Workers evacuated after Dubai tower fire


US airlines report surging employment levels, despite claims Gulf carriers are 'harming American jobs'


One in six UAE residents say have delayed, missed 2015 debt payment


Abu Dhabi-backed consortium in $7bn Australian utilities deal


Home truths: Dubai Properties Group CEO Abdullatif AlMulla

Dubai Properties Group is one of the emirate’s real estate crown jewels but has not courted the same level of press interest as Emaar or Nakheel. With epic masterplan projects including JBR, Dubailand and Business Bay and a mass land bank to develop, newly appointed Group CEO Abdullatif AlMulla looks set to spruce up the company’s profile

The African opportunity: Full of potential for brave investors

A record $87bn of foreign direct investment flowed into Africa last year, and it is safe to say that even more is headed there this year. The 12th Arabian Business Forum presented the opportunities, risks and forecasts for the continent, according to top GCC-based businessmen, including Etisalat CEO Ahmad Abdulkarim Julfar, Stallion Group founder Sunil Vaswani and Mansour Group’s Mohamed Mansour.

Security man: Thales Group CEO Patrice Caine

As the world seeks greater security from increasingly sophisticated attacks — on cyberspace, transportation hubs and city streets — demand is soaring for Thales Group’s electronic protection systems, CEO Patrice Caine says

Path to profits: Pearl Initiative's Imelda Dunlop

Imelda Dunlop, the executive director of the non-profit Pearl Initiative, explains why good governance will boost your company’s bottom line

Saudi Wahhabi dilemma in spotlight after Paris attack

While Riyadh has cracked down hard on jihadists at home, its approach to religion has raised a dilemma

Viewing outside the box: the future of TV

The days of an entire family sitting down to watch a primetime TV show have long been dwindling, with the way we watch video content transformed by iPads, YouTube, video-on-demand, Netflix binge watching and the launch of hundreds of channels. Experts tell Arabian Business how these changes are affecting everyone from viewers to advertisers — but the Middle East is breaking the mould

Chemical imbalance: Yogesh Mehta

Petrochem founder Yogesh Mehta does not mince his words as he warns that the current dire situation of the petrochemicals industry is here to stay, and reveals his dramatic plans to restructure in a bid to remain one of the region’s biggest players

It's Africa's time to shine

Africa has long been portrayed as a troubled continent, leading more cautious Gulf investors to lag behind other regions in tapping into the wealth of opportunities. But Africa is fighting back, working to overturn negative stereotypes and attract Arab investment to its shores.

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PHOTOS: Dubai theme park begins to take shape
Dubai Parks and Resorts site will feature three separate parks - Legoland, Motiongate and Bollywood
PHOTOS: InPics: Heavy rain and flooding swamps cars and highways in Saudi Arabia and Qatar
Roads in Riyadh were blocked and a number of cars submerged under about two meters of water in a highway in western Riyadh following heavy rainfall
PHOTOS: Abu Dhabi Grand Prix: Know your F1 drivers
The final race of the season is almost here – but who are the top track stars?
PHOTOS: 10 things to do on UAE National Day
Ways to celebrate the opportunities available by living in the emirates
PHOTOS: Americans celebrate Thanksgiving
Barak Obama pardoned Honest and his alternate Abe, both 18-week old, 40-pound turkeys. The names of the turkeys were chosen from submissions from California school children.
PHOTOS: James Bond collectibles put on sale
Around 700 lots of collectibles spanning every James Bond film produced to date were represented at a James Bond memorabilia auction, held to coincide with the latest James Bond film, Spectre.
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