UAE Moving Away From Cash-Based Society

A MasterCard study has found the UAE has one of the fastest changing payments systems.

UAE’s Food Imports From Victoria Up 66%

Major food exports from the Australian state include dairy, meat, fresh fruit and vegetables

UAE’s First REIT Plans IPO On Nasdaq Dubai

Emirates REIT, formed in 2010, has income-generating assets worth 770 million dirhams.

Emirates Has “Work To Do” On Boeing 777X Price Negotiation

Emirates is the largest operator of Boeing’s twin-engined 777 jetliner and is looking at a more fuel efficient version to introduce around 2020.

Majid Al Futtaim Waits For Stability In Egypt, Syria

MAF had a Carrefour store in Aleppo shut down as a result of the violence in Syria.

Dubai Stock Investors Place World Expo Bets Ahead Of Vote

Dubai is competing with Izmir in Turkey, Sao Paulo in Brazil and Yekaterinburg in Russia for the right to host the 2020 world’s fair.

Qatar’s QEWC Signs $450m Finance Deal For Desalination Plant

The plant, when completed, will produce 10 per cent of the Gulf country’s water.

Saudi Has Most Attractive Tax Framework Among G20 Nations

Saudi imposes a particularly light tax burden on entrepreneurs as compared to its European counterparts, says Ernst &Young

Dubai, China Sonangol Sign MoU To Build Oil Refinery

Dubai-based Noor Investment Group will act as the financial advisor to Dubai’s Supreme Council of Energy on the project

Mubadala’s H1 Profit Up 10.4% On Investment Gains

The Abu Dhabi fund said that profit attributable to equity owners for the first half of the year was Dhs1.1 billion.

Oman To Unveil Privatisation Plans In January

The government currently owns more than 60 companies across various sectors in the country.

NBA Champion Kobe Bryant To Open Health Business In Dubai

The LA Lakers’ player has received a tax-free trade license from the Dubai Multi Commodities Centre (DMCC).

Dubai Hikes Real Estate Fee To Fight Speculation

The registration fee charged for real estate transactions has been raised to four per cent from two per cent.

UAE’s Airport Retail Industry Rakes In Revenues

The UAE’s airport retail sector has benefitted heavily from increased passenger traffic in the country.

Saudi’s CPC Opens $15m Marble Factory In China

The massive new factory, spread across 66,000 sqm, will import 50 per cent of its produce to Saudi Arabia, UAE and Qatar.

Abu Dhabi Approves $4.3bn Development Spending

Abu Dhabi is investing billions of dollars in industry, tourism and infrastructure to diversify its economy away from oil.

Citigroup Moves To Block New Arbitration By Abu Dhabi Fund

ADIA previously accused Citigroup of fraud in the initial arbitration.

Sony Launches 20.7MP Camera Smartphone Xperia Z1 In Dubai

Sony’s latest smartphone, available in black, white and purple, is priced at Dhs2,749 in the UAE

Dubai: The Makings Of A New Property Bubble?

As Dubai’s property market returns to its boom days, experts urge government intervention to prevent another bust.

Exclusive: Emirates To Have 43 A380s By Year-End – President Tim Clark

The Dubai-based airline has new routes coming up, says Emirates president Tim Clark.

UAE’s Western Expats Spend Heavily On Luxury: Survey

UAE expats are “less prudent” than their counterparts in Singapore and Hong Kong with regards to financial planning.

Saudi SABIC Sets Initial Guidance On Five-Year Dollar Bond Sale

The initial price thought on the bond is in the area of 150 basis points over the equivalent U.S Treasuries.

Saudi Car Owners Fined For Allowing Women To Drive

Traffic police issued fines totalling SAR5,400 ($1,400) for allowing “an unqualified person to drive.”

US-Based Mooyah Fast Food Chain Launches In The UAE

The restaurant will be owned and operated by franchise partner Awgal investments and Menfex, the brand developer for Mooyah.

Dubai’s Union Properties To Seek Foreign Ownership Increase

Currently, non-UAE nationals can own up to 15 per cent of the developer

Depa Wins Dhs574m Fit-Out Contract In Abu Dhabi Project

Depa’s scope of work will include architectural woodwork, flooring work, decorative tasks and interior lighting.

New MBC Bollywood Channel To Launch In October

The channel will feature series and movies from India’s movie hub.

Hakkasan To Open Palm Jumeirah Resort

Abu Dhabi-owned nightlife and restaurant brand diversifying into hospitality with work on Dubai beachfront resort set to start next year.

Dubai Working On Rules To Avert Property Bubble

With Dubai’s apartment prices up around 20 per cent on last year, the International Monetary Fund has warned of the danger of another bubble.

Saudi Arabia Worst On Women’s Legal Issues

A World Bank report found the Middle East and North Africa have made the least progress over the last 50 years in improving women’s economic opportunities.