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Last Updated: Sat, Feb 25 2017 | 2:39 PM |

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Dubai real estate: which way will it go?

After almost two years of declining property prices, Dubai’s real estate industry is hoping a recovery is imminent. However, many people fear the slowdown could continue for a while longer as global economic...

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Posted by: Fentoni Feb 16, 2017 1:22 PM [UAE]

Hello Bill, the central bank don't set the rates, they simply report the EIBOR rate. EIBOR (Emirates Inter-Bank Offer Rate) is the average cost of borrowing between 12 selected banks over a set period of time e.g 3 month, 6 month, 12 months. The 12 banks that make up the index are;
Abu Dhabi Commercial Bank, Barclays Bank, Citi Bank, Commercial Bank Of Dubai, EmiratesNBD, First Gulf Bank, HSBC Bank Middle East, MashreqBank, National Bank Of Abu Dhabi, RAKBANK, Standard Chartered Bank and Union National Bank. Central bank then removes the two highest and two lowest banks and the EIBOR rate is set based on an average of the middle 8 banks. To set their mortgage rates most banks use a fixed margin plus either 3 month, 6 month or 12 month EIBOR, others like SCB use their own internal bank rate which may or may not be influenced by EIBOR.

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TV presenter Richard Quest rants over 'rip-off' Dubai hotels

CNN news anchor Richard Quest has slammed the addition of a 10 percent service charge on hotel bills in Dubai, in an angry post on social media.He tweeted on Tuesday morning: “Checking out of hotel in...

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Posted by: Ray Chaudhuri Feb 16, 2017 8:53 AM [UAE]

Over the Room Rate, you have 10% Municipality Charge, 10% Service Charge and Tourism Dirham Fee of between AED 15-20 (USD 4.08 ~ 5.45) depending on what * Hotel. This if you book via online platforms line Booking.Com or Hotels.com of Cleartrip, Agoda, etc. However most hotels are online themselves and you can contact them directly and many of the hotels will give you NET Rate all inclusive. Else you can work through Travel Agents to work out packages all inclusive.

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UAE ambassador dies of Afghan bomb blast injuries

The UAE ambassador to Afghanistan who was badly injured in a bomb attack in Kandahar province last month has died, it was announced on Wednesday.Juma Mohammed Abdullah al-Kaabi was caught up in the attack...

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Posted by: Phyllis Dulebenets Feb 16, 2017 8:54 AM [USA]

My most sincere condolences.

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UAE plans to build 'mini city' on Mars by 2117

Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum on Tuesday announced the Mars 2117 project which aims to build a city on the Red Planet within 100 years.Sheikh Mohammed, also Vice President and Prime...

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Posted by: Calvin Pinto Feb 16, 2017 8:56 AM [India]

Am I the only one who finds this proposal ridiculous?

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Dubai's Emaar says to reopen fire-hit The Address hotel by year-end

Dubai's Emaar Properties intends to reopen its landmark The Address Downtown hotel by the end of the year, some two years after the skyscraper was gutted by fire following an electrical fault, its chairman...

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Posted by: Victory Red Feb 15, 2017 1:27 PM [UAE]

They may well have a two stage strategy of re-opening the hotel & residences.

Apartment owners in the building have recently received a letter from Emaar in which they say:-

"Exact timelines are in the final stages of being confirmed but handover will be in the first quarter of 2018".

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Dubai's DP World mulls Tesla tie-up to drive global business growth

Dubai-based port operator DP World is to consider potential uses for Tesla technology in its global operations following a meeting between the bosses of the two companies.Sultan Ahmed Bin Sulayem, DP World...

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Posted by: Victory Red Feb 16, 2017 8:57 AM [UAE]

The cars are v cool, v innovative and perfectly suited to cities like Dubai where short trips to work, school, mall etc. easily fits within its range.

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Dubai says 14.9m tourists visit during 2016, up 5%

Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) said on Tuesday that the emirate attracted 14.9 million overnight visitors in 2016, up 5 percent on the previous year. Officials said...

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Posted by: Telcoguy Feb 15, 2017 1:30 PM [Dubai]

@lastman two weeks ago i had a transit in Dubai, it was 8 hours so i went to the Meridien. I obviously had to go through immigration.
I guess more people do something like that.

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Trump makes tempered pledge to support US carriers in face of Gulf rivals

US President Donald Trump has warned US airlines that foreign rivals “bring big investments” while pledging to support them amid tough competition, in the latest indication of his stance in the ongoing...

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Posted by: Telcoguy Feb 15, 2017 1:30 PM [Dubai]

Given that the real driver for travel demand is the economic growth in Asia, the role of Middle East carriers is actually not so critical. Emirates, Etihad, Qatar Airways did not create the demand for travel, they were the first to act on it.

People will travel, maybe not in such large numbers, paying somehow more, and probably in worst conditions. But overall Boeing is fairly safe as long as China / India keep moving ahead and things do not go kaboom.

Airbus may suffer given its dependency on Emirates for the A380.

Somehow I do not see the Donald losing sleep neither for worsening travel conditions for the hoi polloi nor for Airbus' problems-

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Emirates accuses Delta after flight delayed over spare part refusal

Emirates has accused Delta Air Lines of harming its operations by refusing it a spare part for its aircraft in the United States, stoking tensions between US and Gulf carriers feuding over state subsidies...

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Posted by: SA1 Feb 13, 2017 1:03 PM [UAE]

read the article again....which notes that the part of initially given and fitted into Emirates and passengers boarded, but then upon Delta HQ instruction was asked to be removed again.

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Sheikha Mozah Al Maktoum becomes first Emirati royal female pilot

Sheikha Mozah Al Maktoum has become the first Emirati female pilot from Dubai’s royal family, according to her aunt Sheikha Lateefa bint Maktoum.The Emirati princess passed the APP First Officer Programme...

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Posted by: Normal Citizen Feb 13, 2017 1:02 PM [Europe]

Always Happy Landings!

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