Most Recent

Skype sold for $8.5 billion

Microsoft has placed its biggest bet- $8.5 billion for the internet voice and video communications company, Skype- on a deal the software giant hopes will help it compete in a world shifting away from desktop computer. Buying Skype gives Microsoft a potentially valuable communications tool as it tries to make […]

 
 

Telecom Industry warns of more hard times ahead

The telecom industry is moving through hard times with revenue projected as low as 2% compared with other industry sectors. High infrastructure costs, tight regulations, and decline in revenue have failed to woo the investors. According to Simon Holden of Goldman Sachs International, “even though the telecom stocks have been […]

 
 

Saudi airline has foreign pilots?

The Saudi Arabian Airlines, the kingdom’s national carrier has denied recent reports of recruiting three Bangladeshi pilots. If the reports are to be believed, the airlines have recruited pilots from Bangladesh and they were given English training in Dubai. The report also has some harsh criticisms against the national carrier. […]

 
 

Logistics to boost commerce and growth

Dubai’s strengthening logistics (sector) is one among the key players in boosting trade in the region. DP world is currently operating container terminals across every continent and is developing projects in Brazil, China, India and Turkey. Dr. Ashraf Ali Mahate, head of export, told (to a leading newspaper), “In recent […]

 
 

Du’s Dh3b debt due in June

UAE based telecommunications provider- Du, is said to have enough funds to repay its Dh3 billion of the debt due in June (this year). Du has tagged about Dh1.7 billion for capital expenditure ; and the company’s expanding subscriber base is likely to help a 20 percent rise in revenues […]

 
 

Vinson & Elkins now in Riyadh

International law firm Vinson & Elkins LLP has expanded into the Middle East and opened an office in Riyadh, in association with the Law Office of Looaye M. Al-Akkas. Vinson & Elkins LLP is an international law firm with approximately 760 lawyers across the globe, including 25 lawyers in Riyadh, […]

 
 

Ruwais refinery on the expansion track

The Ruwais refinery, a $10 billion project of the Abu Dhabi Oil Refining Company (Takreer) is on the expansion track as scheduled. This project on completion will increase Takreer’s refining capacity by 417,000 barrels per day and nearly double its production of transportation fuels. The project is developed in eight […]

 
 

Dubai Financial Market records 98% profit increase

The Dubai Financial Market Company (DFM), the Arab world’s only listed bourse, has earned a (quarterly) profit of 2.18 million UAE dirham ($ 593,500), an increase of 98 per cent. The company said that it earned revenues of Dh 48.7 million; this comprised Dh 33.58 million of operating income and […]

 
 

Cheaper flights surprises UAE

Two UAE based carriers, Etihad and Emirates have announced cuts in air fare, in a bid to ensure summer traffic is not affected. The fall in oil prices is cited as the reason for this initiative. Emirates, the Dubai-based airline, has removed a fuel surcharge on its tickets with immediate […]

 
 

Begin the job hunt now

There is finally good news for job seekers in the UAE. According to a leading HR group in the country, now maybe is the good time to scout for a new job. Lama Atayam Chief Marketing Officer at Bayt.com said, “We have definitely seen an up tick in the hiring momentum […]

 
 

Dubai’s economy is strong

After a brief period, the Dubai economy is projected to have a 3.5 percent growth this year. Business registrations have increased in the state, though it isn’t clear if the capital inflow is due to the political unrest and uncertainties in the other Arab countries. “We don’t have clear indicators […]

 
 

Damas to recover money

Having finalized an agreement that sets in motion, the repayment of Dh 614 million from original promoters the Abdullah brothers, jewellery firm Damas is trying to recover the money owed in the wider marketplace. The company is considering taking legal action, where necessary to recover outstanding amounts, according to CEO […]

 
 

New consortium to develop Iraq’s aviation sector

Iraq Airports, Aviation and Logistics Consortium (IAALC), is a newly formed consortium to boost the country’s logistics, freight and transportation sectors. The IAALC, expected to offer international standard training in all aspects related to aviation, airports, and freight and logistics sectors, is an investment of $50 million (Dh 183.5 billion) […]

 
 

2,309 new commercial licenses in Abu Dhabi

The Abu Dhabi Development Department of Economic Development (DED) issued its new quarterly report for commercial licenses. As per the report, with an existing 104,372 licenses, DED issued 2309 new licenses, renewed 18,354 and cancelled 746, by the end of March 2011. Aisha Al Sheikh Al Zaabi, the Acting Executive Director of […]

 
 

The Gulf customs union to begin in 2015

The planned implementation date of the Gulf Cooperation Council’s (GCC) Customs Union will be on January 1, 2015, as said by Obaid Humaid Al Tayer, the Minister of State for Financial Affairs, in the capital. The Gulf Arab countries are looking to resolve all their outstanding issues with their customs […]

 
 

Abu Dhabi Funds finances 16 projects in Egypt

The Abu Dhabi Fund for Development (ADFD; through the Abu Dhabi Government) has provided loans and grants to aid 16 development projects in Egypt, costing Dh 3.149 billion. Since its founding year in 1974, ADFD has helped Egypt through implementation of several social-economic projects. It has, previously, funded 11 projects […]

 
 

Emirates NBD: Strategic expansion continues in Abu Dhabi

As a significant step towards the strategy to increase branch network in Abu Dhabi, Emirates NBD announced that it has further extended retail banking facilities to its customers in the UAE capital. With a total of 15 branches in Abu Dhabi, 49 ATMs and 14 CDMs, Emirates NBD continues to […]

 
 

The AppWorld debuts in UAE

Research in Motion (RIM) has officially launched the long awaited BlackBerry App World, with support from the Telecommunications Regulatory Authority (TRA) in UAE. This launch, in UAE, is in the authority’s strategy to support more mobile apps creation and accessibility in the country. “This is a great day for the […]

 
 

Shortage of cars hits car rental market in UAE

Car rental companies run short of cars in the wake of catastrophes in Japan. Post tsunami and earthquake there is a sharp decline in the production of cars by Toyota. Leasing companies recommend switching to other models such as Mitsubishi and Nissan models that are manufactured outside of Japan. Al-Futtaim […]

 
 

Dubai Pearl seek out new investors as DIFC Investments pulls out of the deal

Dubai International Financial Centre (DIFC) Investments, the major stake holder in Dubai Pearl, has pulled itself out of the project. Dubai Pearl, the US$3.8 billion (Dh13.95bn) project, overlooking Palm Jumeirah has witnessed a slowdown in construction activity following the loss of its major stakeholder. DIFC Investments had a deal of […]

 
 

Bing to be default search engine for BlackBerry

Microsoft Corp’s Bing will be the new default search engine and map application on BlackBerry smart phones. Joining RIM Co-CEO Mike Lazaridis was Microsoft CEO Steve Ballmer to announce a strategic partnership with RIM; giving an edge for the software maker in mobile devices with Google Inc. The announcement is […]

 
 

Thai Rice to cost lower

An excess supply of rice from Thailand will help boost global stockpiles and cap prices, the Food and Agriculture Organisation (FAO) said, which will lower record food costs that pushed millions into poverty. Food prices, worldwide had reached a record in February, driving 44 million people into poverty, as estimated […]

 
 

Air Arabia flies with falling profits

Air Arabia, the first and largest low-cost carrier in the Middle East and North Africa, reported a fall in its first quarter profit for the year 2011. This is seen to be a result of the rising oil prices, escalating tensions across the Arab world; impacting the aviation industry. The […]

 
 

Aabar achieves milestone with investment.

Abu Dhabi based Aabar Investments, has confirmed an investment plan of $850 million (Dh.3.1 million) in Glencore International, as a cornerstone investor with an intention to invest an additional $150 million in the global offer. “We are pleased to count ourselves as the largest new shareholder of Glencore post its […]

 
 

New authority for Dubai Health Care City formed

Dubai Healthcare City Authority (DHCA): A law was issued on Wednesday by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, establishing the DHCA. According to the Dubai Government Media Office, the law sets out the functions and responsibilities of […]

 
 

Why buckle up at the back?

  Many people, in this region, don’t fasten their seat belts while seated at the back of a vehicle. Popular reason given, “The law doesn’t require me to do so”! But the question is, do you know why is it required to buckle up? Road traffic accidents is a public […]

 
 

Dubai’s undiscovered restaurants: Paratha edition

Parathas are perhaps one of the few types of ethnic foods that seem to resonate well with just about every culture in Dubai. A flatbread that originated in the Indian sub-continent, parathas are made out of whole-wheat flour and generally contain a vegetable filling. Whether you choose to eat them […]

 
 

Libya crisis bolsters political BRIC

When the 15-nation United Nations Security Council voted 10-0 in March to authorise the no-fly zone over Libya, emerging power bloc BRIC (Brazil, Russia, India and China), along with Germany, abstained. A month later, the West-led coalition that supported the resolution struggles to justify its decision and is far from […]

 
 

Hold your horses !

Maybe if you are like me who is scared to drive on some of the Dubai roads, especially Emirates road, here’s some good news. Local media is reporting that Roads and Transport Authority (RTA) in co-ordination with Dubai Traffic Police is planning to implement new speed limits on Dubai roads. […]

 
 

Business or Buddies

‘Social networking is the one of the best, and effective direct way of communicating of modern times; but drawing the line between your professional and personal connections in this space, is the new question.’ “When I joined the social media, it was fun. Everyone was a friend (in this site), […]

 
 

Third World War ?

It’s been an Organizers dream come true for ICC, the organizers of the 2011 wold cup cricket. Surely, it’s going to be a war out there for the Indians and Pakistani cricket players (and lovers!). The marketing guys can’t ask for a more greater occasion to celebrate, perhaps ranks higher […]

 
 

Mobile Apps

How many times have you tried booking an appointment with your Doctor and get forwarded/transferred from one extension to another ? Maybe it’s time for someone to introduce this application in the region sooner ! Check this link

 
 

Saudi labour official suggests easing naturalisation laws for long-term expats

Saudi labour official suggests easing naturalisation laws for long-term expats

A top Saudi representative to the international labour body has suggested that expat workers who have been living in Gulf countries for 25 years or more should be granted free iqamas (work/residency permits) or permanent resident status outside the sponsorship system. Abdullah Sadiq Dahlan, Saudi Arabia’s representative to the International […]