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Last Updated: Tue, Feb 21 2017 | 9:24 AM |

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16

Dubai likely to lose 'shopper's paradise' status: S&P

An appreciating dollar is making it more expensive for tourists looking to shop in the UAE, and Dubai is likely to lose its coveted “shopper’s paradise” label if the currency pressure persists, says an...

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Posted by: gvk Feb 21, 2017 1:24 PM [UAE]

Increasing cost to operate business and reduced volumes compel importers, distributors, wholesaler and retails to work on higher margin to break-even. Rentals have been going up only for past few years. Other costs are going up and up, it also reduces buying power of residents and falling exchange rates make it more difficult for tourist to shop in Dubai. Most come with the hope of big shopping as before but many return back after sight seeing and they do complain Dubai is too expensive and not for shopping as before

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1

Dubai tenants warned to study contracts before signing

Dubai Land Department (DLD) has urged tenants to read their rental contracts before signing as contractual terms are upheld by the law.The advice comes after Arabian Business raised the complaints of Dubai...

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Posted by: Jose De Souza Feb 21, 2017 9:17 AM [United Arab Emirates]

Oh I spotted the clause alright but the landlord (a major real estate company) refused to budge and insisted on a 30-day notice and two months penalty. Pure exploitation, I said. And they ignored me. Another great example of how ambiguous laws need to be fine-tuned.

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6

UAE drafts new rules pushing banks to lend more to SMEs

The Central Bank of the United Arab Emirates has issued draft rules aimed at getting banks to lend more to small and medium-sized enterprises (SMEs) after some lenders had cut their exposure to such companies...

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Posted by: Jacob Feb 21, 2017 9:20 AM [UAE]

Funny banking, one fine day the bank will decline an application and the next day they will accept the same application. What do you expect when there are so many departments constantly at loggerheads with each other, all working in silos and isolation and managed by cantankerous conniving managers that consider integrity an outdated virtue which has become a low priority consideration in the quest for longer tenure.

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1

Abu Dhabi awards parking contract for new mega airport terminal

Abu Dhabi Airports has awarded a five-year car parking contract for the under-construction Midfield Terminal Complex (MTC) to Zone Parking Solutions.The company will be responsible for the design, supply...

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Posted by: Chris Feb 21, 2017 9:20 AM [UK]

With a good operator and a strong system for car parks , MTC at Abu Dhabi Airports will lead the way in the GCC

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2

Google urges UAE to create 'culture of risk'

Google’s head legal counsel has called on the UAE government to create a system in which companies can fail without stigma, to support an entrepreneurial culture.Addressing a majlis at the Crown Prince...

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Posted by: Risk Culture Builder Feb 20, 2017 1:22 PM [United Arab Emirates]

Innovation is needed in Risk Management. In all aspects of business reward is linked directly to the level of risk taken.

This aspect is misunderstood in most businesses, firstly they try to take more risk without getting better at risk management and that leads to failure, you can only take more risk once to are good at risk management.

Secondly they try to get everything green, they focus totally on mitigating or reducing risk, the end result is that they thus will get less reward and if the process of reducing risk-taking continues, they will go out-of-business.

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2

Dubai police summon Russian model who dangled from skyscraper

Dubai police have summoned a Russian model, who posed for a video while dangling from a skyscraper, to sign a pledge not to put her life in danger again.A video of the model, identified by local media...

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Posted by: mahirishi Feb 20, 2017 9:15 AM [UAE]

Dubai police should make this undertaking public so that this also gets circulated for people to know they should not try to repeat any stunts putting their and others life to risk.

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1

Dubai Chamber launches board game to showcase emirate's tourist attractions

Dubai Chamber of Commerce and Industry has launched a new board game as part of its efforts to promote Dubai as a global hub for business and trade.‘Dubai-Opoly, a new recreational game based on the famous...

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Posted by: Omar Feb 19, 2017 9:23 AM [UAE]

wonder if hasbro will be looking at this and notice any copyright infringements.

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3

Dubai's OSN launches 'affordable' packs as TV competition intensifies

Dubai-based entertainment giant OSN has launched new pricing and new packs as it attempts to retain customers in an increasingly competitive market.The pay TV firm said the move was part of a new strategy...

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Posted by: Omar Feb 19, 2017 9:24 AM [UAE]

OSN reps in mall kiosks reminds me of property agents that man their property kiosks. not very convening or welcoming.
i completely avoid them.

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2

Emirates NBD launches Liv., the UAE's first digital bank

Emirates NBD, Dubai's largest bank, on Thursday announced the launch of Liv., the UAE’s first digital bank targeted at millennials.It said in a statement that Liv. is aimed at providing a digital experience...

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Posted by: FinTech Geek Feb 19, 2017 9:24 AM [UAE]

CBD announced its plan to launch by the 1st half of 2017. Seems like ENBD without talking much just launched it :)
Not sure about clearly

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17

Countdown to VAT: are Gulf businesses ready?

A brief analysis of history suggests that the people, systems and organisations most responsive to change tend to be the most successful, which is directly relevant to the various structural reforms currently...

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Posted by: SAM Feb 19, 2017 9:25 AM [UAE]

You are right John, nothing is for free, but certain government expenditure that makes the quality of life what it is in UAE include security (all branches), which is a major expense that is increasing, while oil revenue is decreasing. The bottom line is that the government needs more funding; taxation is the quickest (though not most effective) way to fill any gaps in spending. I am not privy to the government's budget, but I am sure they are running a deficit and taxation is one tool to cover some of that deficit. I imagine there may be better ways to manage the deficit, but I guess this issue is worldwide.

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