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Last Updated: Mon, Jun 27 2016 | 4:25 PM |

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1

UAE firm acquires US commercial property in $48m deal

Gulf Islamic Investments, a UAE based Islamic financial services company, has announced that it has acquired a commercial property in Pennsylvania, US in a deal worth $48 million.The Class A Commercial...

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Posted by: Steve Jun 27, 2016 4:57 PM [USA]

Wow, they got ripped off. Building isn't worth more than 20-25 mil. I guess they got money to burn...

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4

Emirates stands firm on ultra-cheap bookings glitch

Emirates has refused to honour bargain tickets it issued by mistake and confirmed that all erroneous transactions will be cancelled, it said in a statement.A reported 300 people snapped up tickets between...

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Posted by: nrr Jun 27, 2016 4:58 PM [U.A.E]

Fentoni, an excellent reply! I feel, some people get too greedy when they are on the customer end and are not able to let go of Human Error, and while they are at the Business End, they would not honor the same.

I know it is a bit out of context, but Gordon, when someone goes to the Doctor for an operation, and the person dies, does the Doctor give the fees back or provide a discount, since he didn't perform well or as stated? As a matter of fact, service industry doesn't refund or give a discount even if the service was below acceptable levels.

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24

'Bachelor ban' in Qatar tests relations with migrant workers

As Nami Hader, a 30-year-old gardener from Nepal, approached the entrance to a park outside Qatar's second city Al Khor one day last month, a security guard blocked his way. "No bachelors," the guard...

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Posted by: Mike Karim Jun 27, 2016 3:39 PM [SA]

I lived there for a couple of months; very boring and limited entertainment options for both bachelors and families. Will never visit it again!

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5

Top hotelier warns of tax rate of up to 31% after VAT is introduced

Tourists and residents wishing to stay overnight in the UAE could end up paying a combined tax rate of up to 31 percent when valued-added tax is introduced, one of the region’s most senior hoteliers has...

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Posted by: Curious Jun 27, 2016 3:40 PM [UAE]

Surely, Arabian Business would consider to proof read before posting as there are so many spelling mistakes!

On the other hand, Dubai Municipality Fee is 10% and Tourism Dirham isn't a tax to begin with

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5

70% of Dubai residents ‘interested in dual citizenship’

Most Dubai residents would be interested in acquiring dual citizenship if it was permitted under UAE law, a survey has revealed.The study conducted by Emirates247 showed that 60 percent of respondents...

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Posted by: Telcoguy Jun 27, 2016 3:40 PM [UAE]

@ahmed, I think you are into something here. The thing is the we are now back to 2008/9 situation where companies are going to see a huge drop in revenue because their customers are leaving the country, one of my customers in another GCC country was complaining of a significant drop in revenue for postpaid.
So you have a system that is politically acceptable but leads to a huge amplification of the business cycle that was acceptable while oil revenue was plentiful but may not be workable anymore. Problem is that citizenship is out of the question and the same time the pressure or localization of the workforce is going to increase making long term work permits also hard to stomach..

Funny how nothing has changed in all this time, I am sure I will get the same replies I got last time.

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1

To Brexit or Regrexit? A dis-United Kingdom ponders turmoil of EU divorce

To leave, or not to leave: that is the question. Still.After Britain's historic vote to leave the European Union, there is no indication that a so-called Brexit will happen soon. It maybe never will.Prime...

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Posted by: gordon Jun 27, 2016 2:18 PM [dubai]

the financial mayhem was caused by speculators, big ones, one that could move billions in currency markets and stock markets.
They just need an excuse to make a lot at the expense of the small investor, pension funds and mutual funds.

Nothing is happening, nothing will be finalised for the next couple of years. So why the panic?

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2

New 2030 plan to inject $44bn into Dubai economy

The new 2030 Dubai Industrial Strategy, which will oversee 75 initiatives in an effort to generate an extra $44 billion for the emirate’s economy, has been approved by Sheikh Mohammed bin Rashid Al Maktoum...

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Posted by: Asim Jun 27, 2016 2:18 PM [KSA]

Dubai should also look into Industrial Electronics as a core sector for investments to boost the economy.

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1

Billionaire investor hopes for fourth time lucky after Dubai setbacks

It has been a case of not third but fourth time lucky for a Nepalese billionaire who has lost millions of dollars investing in Dubai.Binod Chaudhary, Nepal’s only billionaire, has spent the past 12 years...

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Posted by: John Jun 27, 2016 12:53 PM [UAE]

If I were him, I would be looking at expanding in Myanmar and Vietnam. Both those markets having burgeoning tourist markets.

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2

Brexit 'wipes out Gulf real estate gains in London'

Middle Eastern investors eyeing London residential property would benefit from a significant drop in sales prices following Britain’s vote to exit the European Union (EU) whereas existing investors stand...

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Posted by: Ahmed Ali Jun 27, 2016 10:29 AM [United Arab Emirates]

Property - there is your first clue. Purpose it to create the demand.

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3

Dubai, Abu Dhabi see marginal average rent rises during May

Real estate markets in Dubai and Abu Dhabi witnessed marginal growth in property prices during May, according to a new report by Bayut.Compared to April, average apartment rents in Dubai grew 1.57 percent...

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Posted by: someone Jun 26, 2016 3:08 PM [UAE]

is it really true?

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