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Last Updated: Thu, Jul 31 2014 | 7:16 PM |

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6

HSBC under fire in UK over closure of Muslim accounts

Global lender HSBC is in the spotlight after the bank's British operation decided to close down a series of accounts belonging to local mosques, Muslim groups and local charities.Several groups, including...

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Posted by: WHJ Jul 31, 2014 11:16 PM [WHJ]

UK and other European banks reeling from Libor fixing scandals, Swiss and German banks facing inquiries from regulators over high-frequency trading, BNP fined for evading American sanctions, HSBC mired in a big money laundering scandal in Mexico back in 2013....and the list goes on...ad nauseum.
Very credible banks!

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7

Bollywood star backs stalled $626m Dubai mixed-use project

Bollywood superstar Shah Rukh Khan has reportedly teamed up with an alliance of developers to endorse a AED2.3 billion ($626 million) mixed-used project in Dubai which was first launched in 2008 but was...

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Posted by: debbie Jul 31, 2014 8:39 PM [uae]

When SRK endorsed a project at Cityscape 2008 the market crashed. Let's see if the market crashes in this launch.

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1

No hotel operator yet for UAE's second tallest tower

The second tallest tower in the UAE, which is scheduled to open early next year, currently has no confirmed operator for its hotel, the project developer has confirmed.Marina 101 had been set to become...

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Posted by: Rustam Jul 31, 2014 8:39 PM [Kuwait]

Project developer confirms at this late stage that there is no confirmed operator for its hotel, as yet.
Secondly, the price of this project is already the lowest on per square basis in Dubai Marina.
I wonder if the latest confirmation of the bad news will impact project's resale price negatively.

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1

Baggage belt breakdown causes Eid chaos at Saudi airport

The breakdown of a baggage conveyor belt at Jeddah’s airport forced thousands of holiday makers to travel without their baggage on the first day of the Eid holidays.According to a report in Arab News,...

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Posted by: Granny Scroggins Jul 31, 2014 2:57 PM [UAE]

Gaza is burning and Arabian Business is writing about a luggage belt malfunctioning.

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4

Dubai prime property price growth almost halves in Q2

Annual growth in prime property prices in Dubai almost halved in the second quarter of 2014 compared to the previous quarter, Knight Frank said on Wednesday.Prime prices rose by 6.3 percent in the year...

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Posted by: Telcoguy Jul 31, 2014 2:56 PM [UAE]

Anna, as a matter of fact a majority of residents are under 3,500 dhms per month. You got it wrong by one zero

But yes, your point about affordability is a valid one. It is one of the key points we have been making for a long time, the other being contract enforcement, property laws and the mismatch between advertised and actual quality.

Good to see nothing has changed since last bubble.

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7

Revealed: average Dubai apartment, villa price tags

The average price of a studio apartment in Dubai stands at AED959,000 ($261,094), according to new research by the UAE's property search website, propertyfinder.ae.The website also revealed that an average...

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Posted by: Dubaishock Jul 31, 2014 12:32 PM [pakistan]

Dubai property market expected Ramadan to be slow as it always have been in the past. But now after ramadan we will see desperate sellers coming in the market. The main buyers in the market already have properties in the Dubai market and would not increase their exposure. Another reason for market to go down is the increase in new off plan deals. This time unlike last time the off plan properties are cheaper than ready buildings. But the sane investor will not go for this trap this time. But the people who like to make easy money will lose again here. Besides this I see Dubai becoming more and more expensive place to live everyday. If the expatriates will end up saving less money here in Dubai then they would rather stay in their own countries being first class citizen with respect. My conclussion is if you have property try to sell and see what happens and you will get real pic yourself. I just want to save my brother and sisters here from any heavy financial loss here

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5

Akbar Al Baker’s double standards?

Akbar Al Baker has built up a well-deserved reputation for telling it straight. Among the targets that have been in the Qatar Airways chief executive’s sights are: Boeing (“when you put companies in the...

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Posted by: chalky6766 Jul 31, 2014 12:31 PM [UAE]

Airbus “they are still learning how to make airplanes”

When I see comments such as these I just stop reading, he must be a very confident man to not just say this but to actually believe it.

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2

Behind the scenes at Rolls-Royce

It takes Mark Court about three painstaking hours to paint the ‘coachline’ on each Rolls-Royce that roars off the production line at the carmaker’s plant in the south of England. Court is currently the...

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Posted by: Ayoola Rasaq Akanni Jul 31, 2014 9:17 AM [Nigeria]

Thank you for cooperation

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1

The Daily Grind: Coffee Planet

It may come as little surprise that the Arab world is considered one of the fastest growing coffee markets in the world, with the UAE one of its most active centres.Caffeine devotees across the UAE drink...

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Posted by: Jatin Jul 30, 2014 6:02 PM [UAE]

Coffee Planet is the best coffee in Dubai. Better than any other I've had so far. I agree with Jones, there is no reason why the big local companies should favour other international brands just because they are a global brand, and not favour them just because they are local. I think that, only those who lack the understanding of a great product themselves would use an established international brand to feel secure. But don't worry Jones, great product always wins. I believe Coffee Planet will one day be a global player. Well done. Keep up the good work.

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2

Iran leader calls Israel 'rabid dog', urges arms for Palestinians

Iran's supreme leader Ayatollah Ali Khamenei on Tuesday called Israel a "rabid dog" for its attacks on Gaza, and urged Muslims to arm Palestinians to enable them to counter what he termed genocide.About...

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Posted by: procan Jul 30, 2014 6:01 PM [canada]

Neutral, is spot on in his comment in most cases. When it comes to Iran they are all bark and no bite. One understands though, as any intervention would be a invitation to Israel to act on certain targets in Iran it has long wanted to.

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