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DEWA awards contracts worth Dhs 1.2bn for 15 substations

The authority is also planning to build three substations, especially to deal with rising power demand during Expo 2020

Top 10 iftars and suhours in Dubai

A list of the top iftars around Dubai this Ramadan, what they charge and their major attractions.

Al Masah Capital’s F&B unit buys Johnny Rockets franchisee

The private equity firm acquired Al Faris Restaurant, which operates the Johnny Rockets franchise in the UAE and Oman.

Over 62,000 Dubai passengers to travel via Emirates on June 26

The airline has cautioned passengers travelling from Dubai between June 25-28 to plan for heavy airport traffic

ABN Amro says Dubai employee dismissed for misconduct

The bank said the employee had received about $100,000 from a client and transferred it through his personal account to a third account

Five reasons why Dubai’s property market will not see 2009-type crash – S&P

The emirate’s real estate market is forecast to see a 10 to 20 per cent correction in prices this year, the report stated

Dubai records highest inflation rate since 2009 in May

Housing and utility costs, which made up 44 per cent of all expenses, rose 7.8 per cent year-on-year

UAE’s booming e-commerce market pushes up smart payments

increasing e-commerce spend and a push by governments to encourage cashless transactions are easing more and more consumers into smart payments

Major investor in Dragon Oil says ENOC offer undervalues company

Dubai’s ENOC, which owns 54 per cent of Dragon Oil, raised its offer this week to buy out the minority shareholders

France’s Natixis to make Dubai capital markets hub for Mideast, Africa

In the past two years, Natixis has increased staffing levels in Dubai by around 50 per cent to 45 people

Dubai airport sees over 6.5m passengers in April

Passenger traffic at Dubai International rose 5.7 per cent year-on-year in April 2015

Emaar Misr sets IPO price at 3.8 Egyptian pounds per share

Emaar Misr is floating 12.99 per cent of the company, amounting to 600 million shares

Dubai satellite insurer elseco’s revenue to quadruple by 2020 – CEO

Elseco’s CEO expects satellite insurance revenue to reach about $120 million in 2020, while a greater focus on aviation and energy would earn about $300 million combined.

Sharaf DG to open first Egypt store in 2016, plots Gulf expansion

The electronics retailer is also looking to enter the Saudi market next year, a senior official said.

Dubai among world’s top 25 most expensive cities

Dubai and Abu Dhabi were also ranked most expensive cities for expats in the Middle East, according to a new survey

Dubai’s ENOC signs $1.5bn syndicated loan from 21 banks

The facility will support its expansion plans and provide the energy firm with long term funding

Emirates introduces new feature to block tickets for 48 hours

The ‘hold my fare’ feature is open to customers in the UAE and other select markets for a refundable fee

Dubai developer Damac opens ladies only sales office

Named Morjana, the office will have 25 female staff and will be open seven days a week

Flydubai launches daily direct flights to Faisalabad in Pakistan

The budget carrier said that it will be increasing frequency on a number of routes and doubling the size of its network in Pakistan

Dragon Oil agrees to ENOC’s increased takeover bid

Dubai-based ENOC’s offer values Dragon Oil at around $5.75bn

Sheikh Mohammed forms Dubai Creative Clusters Authority to oversee freezones

The authority was previously called Dubai Technology and Media Free Zone Authority.

Limitless awards Dhs 285m deal for downtown Jebel Ali project

The deal was awarded to UAE-based Arco General Contracting for carrying out community infrastructure work on the project

UAE Banks Federation approves mobile wallet programme

The programme needs to have a final approval from the UAE Central Bank before it goes live, the federation said

Dubai hotels: Doors wide open, but are people coming?

Dubai’s hotel operators have traditionally seen high levels of occupancy. But with currency devaluation and growing supply, how is the industry coping?

Nakheel makes Dhs220m sukuk profit payment

The profit payment will be made to all sukuk holders on June 15, 2015 against the sukuk issued amount of Dhs4.4 billion

Dubai hotels saw revenues drop between Jan-Apr – EY

The recent drop in oil prices along with a decrease in travel from Russia and Europe caused the slump

Jean-Georges Dubai Opens JG Dining Room

Michelin-star chef’s arrival raises the stakes in city’s competitive F&B scene

Emirates Global Aluminium says to cut 4% of workforce

The move, which would see around 250 support positions eliminated, is aimed at creating a leaner entity and increasing competitiveness.

Royal Enfield opens first store in Dubai

The store will sell Enfield’s popular bikes such as the Bullet, the Continental GT 535cc café racer, the Rumbler and the retro street model Classic.

Emirates airline sees more opportunities to fly in Europe

CEO Tim Clark says governments, airports and organisations in Europe frustrated with local airlines have asked Emirates to start offering international service