Almost 50 per cent of the households in Dubai earn between Dhs9,000 to Dhs15,000 per month and can only afford rents ranging from Dhs32,500 to Dhs54,000 per annum, a new study says.
Under the current 2014 contact, Tasweeq supplies three cargoes a month to the UAE.
The offer is for the whole company but Abraaj will accept no less than a 51 per cent controlling stake, it said.
The Yas Marina Circuit has allocated 60,000 seats for this year’s F1 race, taking place between November 20-23.
The retail group will open 42 brands in Yas Mall, including the UAE’s first Pottery Barn Teen and Icing store.
Daman will sell new shares equivalent to 55 per cent of the firm to the public.
The firm took extra provisions of SAR207 million for bad debts, slow-moving inventory and goodwill impairments on its investments.
The new committee will oversee the UAE’s aim to feature among the most innovative nations in the world by 2021.
Proceeds from the multi-currency programmes would be used predominantly to refinance upcoming maturities.
The retail portion comprises 15 per cent of its stock, amounting to 300 million shares.
Nabeel Rajab, the founder of the Bahrain Centre for Human Rights, is one of the most high-profile democracy campaigners in the region.
Suvrat Saigal, previously head of consumer banking at Barclays in India, takes over from George Beatty, who resigned in January.
Called Beehive, the marketplace claims to be the region’s first peer-to-peer (P2P) online lending platform.
The bank said net profit was KD15.35 million ($52.96 million) for the third quarter of 2014, compared to a KD10.31 million loss in the same period a year ago.
In-demand chef plans to launch new Asian and Bar & Grill concepts next year
Work on the plant has already begun and is scheduled to be completed by the fourth quarter of 2015, the company said.
A booming population, growing prevalence of lifestyle diseases and mandatory health insurance policies are fuelling the growth of private sector firms in the emirate’s healthcare industry.
The 1.9 km Night Souq, coming up on the south island, will be within walking distance of hotels, residences and the Deira Islands Mall.
Although the long-term outlook for oil prices remains uncertain, Brent crude has stabilised around $85 a barrel in recent days.
The iPhone 5s also registered the largest increase in its market share during the second quarter, the UAE’s telecom regulator said in its quarterly report.
The freezone operator also plans to launch a start-up fund by the second quarter of 2015.
ADCB launched a representative office in London five months ago, and has two branches in India.
The Kindgom is expected to raise the December prices for most of the crude grades it sells to Asia.
The total value of Saudi oil aid since July 2013 has amounted to about $5 billion.
Authorities are investigating possible violations connected to the lender banking for Iranian-controlled entities in Dubai.
The Islamic investment firm will also distribute its Luxembourg fund range via two European investment firms.
The financial institution and its ME unit were found to have mis-sold $200 million of investment products, a Dubai court ruled.
NCB is offering 300 million shares to Saudi individuals and 200 million shares to the state-run Public Pension Agency.
Survey finds 47 per cent of fund managers intend to raise their overall equity allocation to the Middle East in the next three months.
The central bank did not give a reason for the drop in spending, but work on some large infrastructure projects has been slowed.