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Last Updated: Sat, Sep 5 2015 | 2:15 PM |

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1

'The answer to unemployment is not big gov't projects but nurturing SMEs,' says the Dubai boss appointed by the UN to lead its big global drive to boost entrepreneurship

You wonder where on earth he finds the time.Whether he’s running his billion dollar company, advancing his social enterprise foundation, writing his book, or developing his nascent financial institution...

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Posted by: muhumuza gilbert Sep 2, 2015 9:25 AM [uganda]

sure way but helping young led organisations in how to devbelop good business strategies is key

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1

Cheap oil hits level of UAE real estate deals in H1

Real estate markets in the UAE are seeing falling transaction levels as oil prices continue to decline, according to a new report by Cluttons.With a 54 percent decline in the price of oil prices during...

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Posted by: K Frank Sep 1, 2015 5:09 PM [UAE]

Yesterday it was currency exchanges causing the correction, today it is oil prices. Maybe, just maybe, it could be that there really is not the demand for overpriced properties.

When the market finds the correct pricing level, which it was well on the way to finding before the Expo mania artificially inflated the market for speculators (dead cat bounce), we will find homes that are reasonably priced and a market that functions on end user volume.

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16

Where should you stick your cash right now? Probably under the bed

It’s that old problem, though one, to be honest, that I personally have never really had. What to do with all this money? All that hard-earned cash you have, which you want to not only keep safe but grow...

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Posted by: Doug Sep 1, 2015 5:07 PM [UAE]

@Ulevpri - I'm still missing Restless Planet, Universal Studios, Mall of Arabia, Legoland Dubai, Marvel Land Dubai, the Tiger Woods Dubai, the wind and water courses of Jumeirah Golf Estates....and all the other dozens of parks that were supposed to have opened five years ago at Dubailand.

Call me a cynic but my gut instinct now is that whenever a major 'lifestyle' project is announced in Dubai, at best you can expect a pale shadow of what it was supposed to be will open about five years after the deadline, and in most cases, won't be there at all.

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1

Key currency fluctuations 'linked to Dubai's H1 property price drop'

Fluctuations in Indian, British and Pakistani currencies during the first eight months of 2015 have impacted Dubai's real estate, according to a new report.Phidar Advisory's latest residential research...

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Posted by: Suleyman Sep 1, 2015 5:07 PM [UAE]

Seems we reached the "find another excuse, anything will do" stage. Did Phidar show the alleged correlation historically (last 13 years) or just on this occasion?

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14

UAE's VAT plan 'unlikely to result in expat exodus'

Plans to introduce a value added tax (VAT) and corporation tax in the UAE is unlikely to deter foreign investors from establishing a commercial presence in the country, according to a firm which helps...

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Posted by: PPM Sep 1, 2015 12:06 PM [UAE]

Will have far more effect on the vast army of tiny LLC's that keep Dubai functioning - frequently by already working employees 7 days and too many hours while forgetting to pay them properly in order to keep owner and sponsor in comfort.
First of all many of them only keep rudimentary accounts and maintenance of proper accounts that taxation requires is possibly totally beyond many. Hiring in professional assistance will cost them money that they will, no doubt deduct from the part of their income currently paid to employees.
Paying additional charges on their inputs will have the same effect.

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3

Dubai Atlas Jewellery owner reportedly detained over outstanding debts

The owner of Dubai-based Atlas Jewellery and his daughter have been detained by police over bounced cheques, according to a local media report.Dubai Police reportedly told Khaleej Times the owner of the...

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Posted by: Shanti Sep 1, 2015 11:41 AM [UAE]

Very true... you brought down the real picture of how banks here act. When an aspiring working person, wants to become an entrepreneur / business person and looks for loan, banks will straightaway refuse and established business houses, they keep calling and torturing to take business loan, only at the end to see the default and the owner running away / swindling funds.

The central bank should encourage small time / new business set up rather than big houses without checking their credit rating... which will result in such things only.

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1

Rising sea temperatures killing fish off Qatar

At least 18 types of fish have died in Qatar waters this summer, with rising water temperatures thought to be the cause.Vast quantities of dead fish have washed up on beaches, raising concerns for the...

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Posted by: Arthur Sep 1, 2015 9:24 AM [US]

People don't realize Earth's water quality must maintain a delicate balance. Its a bit of a catch 22: when water temperature goes up, dissolved oxygen goes down significantly; cold water holds more oxygen than warm water.

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1

Dubai gold retailer defaults on $136m, banks consider options

A Dubai-based gold and jewellery retailer has defaulted on loans worth about AED500 million ($136.2 million), with banks considering options including legal action to retrieve the money, four banking and...

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Posted by: PedroPan Sep 1, 2015 11:39 AM [Portugal]

So many of the LLCs in Dubai get extended facilities from banks that exceed the company's capital by exponential amounts. No one has learned anything from the Patel story years ago. So now the banks have to weigh their options or stand in queue along with other creditors for a piece of the 49% of paid up capital, probably AED 300K and whatever collateral they have secured earlier which is probably worthless.
The old saying of 'what goes around comes around', suits banks to the hilt. Pity the customer who defaults on credit card payments these days.

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8

UAE to finish drafting corporate tax, VAT laws in Q3

The United Arab Emirates, seeking to bolster state revenues, is likely to complete the drafting of laws introducing corporate tax and value-added tax in the third quarter of this year, a senior Ministry...

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Posted by: Simon Sep 1, 2015 11:39 AM [Usa]

Evaluate the situation now, companies downsizing, cutting cost, market prices increasing, projects being postponed, that's when they heard the news,Then what do you think about the situation after tax implantation? Investors? Workforces?

The best is to wait and see the results good luck

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7

Revealed: how to sell your car in 30 minutes

Selling your car in the Gulf is a pretty miserable experience. If it’s more than a couple of years old and in less than perfect condition, your only option is to try out the classified sections of local...

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Posted by: wanna buy a new car Aug 31, 2015 4:46 PM [UAE]

firstly dealers would only trade in & not buy, moreover you will get the correct car value only if its the same brand as the dealers. for private sellers they are hard to come and you may not want to wait that long. for all who call this a Scam - please sell you car to an individual if you are have all the time in the world for selling your car.

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