Exchange house says it is not accepting demonetised Rs500, Rs1,000 notes at any of its branches worldwide
Author Archives: Staff Writer
Saudi Arabia to start work on pilgrim airport at Taif
Work to commence in three months, project completed by 2020, official says
Campaigners urge better protection for UAE housemaids
Indian Embassy, HelperChoice say maids should be regulated by labour office
Dubai contractor Drake & Scull appoints strategic and financial advisor
DSI announced last month it was reviewing its business to address market challenges
Emirates A380
Emirates, Rolls-Royce said to resolve A380 engine issue
Emirates is also evaluating new A350s and 787s for delivery around 2021-22, later than has previously been said
Dubai’s Careem introduces women drivers in Pakistan
Careem operates in the Pakistani cities of Lahore, Islamabad and Karachi
The key to Sir James Dyson’s success (despite 5,127 failures)
Sir James Dyson is the Jobs and Wozniak of home appliances, and despite getting off to a rocky start, his inventions have made Dyson a household name
With its lawsuit settled, Hyperloop lands in the Middle East
Dubai signs deal with Hyperloop One to explore link Abu Dhabi – with a trip between the two emirates slated to take just 15 minutes
When it’s good to feel embarrassed in business
Don’t shy away from embarrassment, embrace it and become in business
Oman central bank says it aims to avoid bank rate rises as liquidity pressures
Economists believe Oman could not resist an uptrend in US rates indefinitely because of the peg of its rial currency to the US dollar
Russia sells $11bn stake in Rosneft to Glencore, Qatari fund
19.5% stake acquisition shows lure of Russian oil assets, despite sanctions
UAE co-ordinating with US authorities over fatal shooting of Emirati student in Ohio
Summit County Medical Examiner’s office said Saif Nasser Mubarak Alameri’s death has been ruled as a homicide
Consortium to pay $1.12bn for Saudi Oger’s stake in Arab Bank
Saudi conglomerate Astra Group is part of the consortium, led by Arab Bank Group chairman
Britain plans to deepen security cooperation with Gulf, says PM
Theresa May says Britain will invest more than £3bn in defence spending in the region over the next decade
Alabbar says Dubai developer Emaar to ‘tighten its belt’ next year
Emaar chairman also reportedly sees Dubai market ‘rebalancing’ between supply and demand into 2017
Shareholders of Abu Dhabi’s NBAD, FGB approve mega merger
Tie-up will create one of the largest banks in the Middle East and Africa with assets of around $175bn
Elton John postpones Dubai concert, cites ill health
Pop superstar pulls out of December 15 gig at Autism Rock Arena, reschedules for January 20
RAK developer inks deal to start work on Anantara Resort & Spa
RAK Properties appoints contractor for enabling works on site of upcoming luxury hotel development
SMEs
1776 Dubai to support Lebanese tech start-ups
1776’s newly opened Dubai campus to host Lebanon’s fastest-growing tech start-ups.
MidEast air passenger growth slows to 18-month low in October
International Air Transport Association reports 7% rise in demand as load factor slips to lowest Oct level since 2006
UAE confirms holiday date for birthday of Prophet Mohammed
Ministry of Human Resources and Emiratisation declares Sunday will be paid holiday for all private sector employees
Abu Dhabi’s NBAD secures $2bn loan ahead of FGB merger
National Bank of Abu Dhabi says funds will refinance existing bilateral debt and provide new funding
Qatar’s Ezdan Holding closes $460m Islamic financing
Real estate developer says eight-year syndicated facility secured involving 10 financial institutions
UAE says optimistic about non-OPEC commitment to cut output
OPEC agreed last week to reduce output by around 1.2 million barrels per day beginning in January
Expats in Kuwait now allowed to manage more than one company
Previous rules had only permitted expats to be hired as managers in the same firm which sponsored their visas
UAE’s Aldar allows foreigners to buy villas in West Yas project
Infrastructure work nearing completion, mosque, retail centre to be completed before end-2016 – developer
British think tank ‘received $31m from Bahraini royals’
London-based IISS claims both parties agreed to take ‘all necessary steps’ to keep transaction secret
Amazon unit says to launch Bahrain office in January
Amazon Web Services sees opportunities in Gulf kingdom as it seeks to support entrepreneurs
Dubai’s DP World says planning logistics expansion in Peru
Port operator plans to open more logistics centres across country to ease container traffic on Callou Port
$1.3bn deal signed to build Dubai’s Heart of Europe islands project
Developer Kleindienst appoints three major contractors to work on resorts, infrastructure of The World project
Dubai ruler orders expansion of International Humanitarian City
Sheikh Mohammed issues directive to enhance operations, accelerate aid response and improve management of relief projects
Omega Dubai Ladies Masters play suspended after caddie passes away
Round one play will resume on Thursday and the tournament will now be played over 54 holes.
Italy preparing to take controlling stake in Monte dei Paschi
Qatar’s sovereign wealth fund said it could inject $1.5bn in the bank but wanted to wait to see what kind of government would succeed Renzi
British PM May confirms UK’s participation in Dubai Expo 2020
Sheikh Mohammed hails historic ties between the two friendly nations
Emirati novelist crowned ‘Young Arab of the Year’
Dubai Abulhoul takes top prize at awards ceremony
Bosnian businesses adopt halal standards to cater for Gulf visitors, investors
Halal market was worth more than $1 trillion in 2015, and growing by about 15 percent a year
KFA denies chief’s resignation, says Al-Hasawi remains in post
Owner of English Championship side Nottingham Forest announced his resignation on Twitter
Saudi-backed tech fund ‘to invest $50bn in US’, claims Donald Trump
US President-elect Donald Trump says held meeting with SoftBank CEO Masayoshi Son
Bahrain authorities ‘block’ Al Jazeera reporter from GCC summit
Ministry of Information said news network was not permitted to cover event attended by British PM Theresa May
Qatar’s CBQ says given nod to raise stake in Turkey’s Alternatifbank
Regulatory authorities grant approval for bank to buy further 25 percent
Kuwait’s Alghanim to launch Slim Chickens in MENA
First regional restaurant in US chain to open in Kuwait City in March
Dubai launches new health insurance payment system
System to be implemented across hospitals, clinics over three years from 2017
Saudi Arabia to form $13bn housing refinancing company
Saudi Refinancing Company said to be part of government efforts to develop mortgage sector in kingdom
Malaysia’s 1MDB seeks Chinese help to repay $6.5bn loan to IPIC
Abu Dhabi’s IPIC and subsidiary Aabar Investments filed claim against Malaysian state fund in June
Arab Bank chairman in talks with Oger to buy its 20% stake – bourse
Sabih Al Masri said to be leading a consortium to buy the stake after Saudi investor dropped offer
Charter flight demand rises 9% in Middle East this year
Russia and the CIS record largest increases in requests for private flights, says Avinode
Saudi stock market rises to new one-year closing high
Petrochemical sector lifts bourse after crude oil prices hit a 17-month peak
Gulf-Turkish investors to spend $322m on luxury Greek resort
Fund buying Astir Palace hotel complex represents investors from Turkey, Abu Dhabi, Kuwait and other Arab emirates
Dubai denies video rumour over liquid nitrogen ice cream ‘dangers’
Dubai Municipality speaks out to refute social media video claiming ice cream is posing danger to UAE consumers
Bahrain’s GFH closes in on Bank Al Khair acquisition
CEO says acquisition should be completed in Q1 2017; talks advanced in exploring merger with another bank
Qatar Airways says to launch Dublin flights in June 2017
Doha carrier to operate a Boeing 787 Dreamliner on the route, offering more than 250 seats
Global medical tech firm signs partnership to set up UAE business
Siemens Healthineers partners with Easa Saleh Al Gurg; offers medical imaging, laboratory diagnostics, healthcare IT services
No rule changes needed for Saudi Aramco IPO, says regulator
Capital Market Authority vice chairman also says close to launching a new corporate governance law
UAE’s Al Dahra launches $38m rice factory in Abu Dhabi
New manufacturing base will produce up to 120,000 metric tonnes of rice per annum