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UAE real estate - escrow account

Dubai: 3 Real estate developers fined Dhs1.5m for escrow account violations

Using an escrow account ensures regulation of funds during the construction process of the units sold, ensuring the protection of investors and their rights

Dubai Jumeirah beach, Dubai Marina

Large fire breaks out in Dubai Marina: Report

No injuries have been reported in the early morning fire at Dubai Marina

EMIRATES - Sir Tim Clark is backing Boeing-Spirit merger

Emirates’ Sir Tim Clark on tapping the debt market and the Boeing crisis

Emirates President called on Boeing to compensate the airline for delays in the development of the US planemaker’s latest 777 jet

OPEC

OPEC+ extends deep oil production cuts into 2025

OPEC prolongs some cuts by one year

Acino

Pharmaceuticals: Acino eyes local growth and export expansion from Dubai facility

By focusing on local manufacturing and sustainability, Acino is set to play a significant role in the UAE’s pharmaceutical industry

Oil prices surge after OPEC + extends output cuts

OPEC+ to hold June 2 crude oil output policy meeting online

The OPEC+ supply cuts since late 2022 have been against a backdrop of rising output from the US and other non-member producers

Tabeer

Affordable luxury: Tabeer Developments unveils Parkside Boulevard in Arjan, Dubai

Prices for Parkside Boulevard are competitive, with studios starting from Dhs640,000, one-bedroom apartments from Dhs1.05m, and two-bedroom apartments from Dhs1.5m

Lucid sets up Dubai Retail Studio

EV giant Lucid opens showroom in Dubai, expands presence in the region

With the inauguration of the latest studio in Dubai, Lucid now has 38 studio locations worldwide

Jumeira Bay Island_Amalfi

This Dubai townhouse was rented for a record Dhs3.7m a year: see details

The townhouse is within the gated Villa Amalfi community, which gives residents access to upscale dining, leisure and wellness experiences and community facilities

midday break - mohre

UAE announces midday break from June 15 to September 15: What you need to know

Daily working hours, in the morning and evening shifts, shall not exceed eight hours during the months of the midday break

Emirates joins turbulence detection platform

Emirates joins turbulence detection platform after recent mishaps

IATA’s turbulence detection platform provides real-time and detailed information to manage and mitigate the impact of turbulence

UAE announces petrol, diesel prices for June 2024

Relief for motorists as UAE announces petrol price cuts

The fuel price committee reduced the retail rates for Super 98, Special 95, and E-Plus 91 by as much as 20 fils per litre in June

IATA 80TH AGM - aviation industry meets in Dubai

IATA 80th AGM: Global aviation heads meet in Dubai to address geopolitical, climate challenges

Airlines body IATA to hold annual meeting in Dubai from June 2-4

TAX

UAE Corporate Tax deadline ends today: How to register and file

The FTA said fines would begin to apply to those who do not comply with the requirements to submit Corporate Tax registration applications before the specified deadlines

UAE-CHINA-SUMMIT-1

UAE, China sign strategic agreements to enhance trade and boost Belt and Road Initiative

The UAE’s active participation in China’s BRI includes substantial investments and infrastructure development, reinforcing its role as a critical logistics hub

UAE CHINA

UAE President Sheikh Mohamed speaks at China-Arab Forum

Sheikh Mohamed highlighted the importance of the China-Arab States Cooperation Forum in a time when global solidarity is crucial to facing shared challenges

Dubai wealth fund ICD’s 2023 profit jumps 68%

Dubai wealth fund ICD posts Dhs60.8bn in full-year profit

The state investor posted a record-high net profit of Dhs60.8bn, buoyed by an increase of Dhs24.6bn from its transportation and banking businesses

EGYPT CHINA TALKS

Egypt, Bahrain, Tunisia leaders head to China

The discussions are expected to address the Israel-Gaza conflict, the Palestinian issue, and a potential free trade agreement between China and Gulf states

db schenker-logistics

ADIA backed CVC, Saudi’s Bahri in final round of Deutsche Bahn Schenker sale

An agreement with the final buyer should be in place this year, with the sale scheduled to be completed in 2025

UAE-CHINA

UAE President Sheikh Mohamed lands in Beijing for state visit

The visit comes amid growing trade ties between the UAE and China

UAE-SOUTH KOREA-CEPA deal

UAE-South Korea sign historic CEPA deal during President Sheikh Mohamed’s visit

Under the CEPA, both nations will eliminate tariffs on more than 90 per cent of imports over time

OPEC+ latest: Group meets against backdrop of uncertain market

OPEC+: Understanding the differences over oil production capacity

Capacity discussions can be complicated by different oil price preferences among OPEC+ members

summer in the UAE

When does summer start in the UAE?

The prevailing foggy conditions signify the transition of seasons from winter to summer, which is distinguished by variability and a rapid change in weather patterns

EDB allocates Dhs5bn to boost manufacturing sector

UAE’s EDB allocates Dhs5bn to boost manufacturing sector

The development bank seeks to provide Dhs30bn in financing to support 13,500 companies within five priority sectors by 2026

BYD CARS

BYD unveils new hybrid tech as battle with rivals heats up

BYD, which has been accelerating its international expansion, still trails multi-branded automakers such as Toyota, Volkswagen, General Motors and Stellantis, in sales

Emiratisation UAE

UAE rates 5th in road quality, 10th in public transport globally, reveals WEF report

The report underscores the UAE’s efforts to bolster its infrastructure, making it a competitive and attractive destination for international business and tourism

uae-south korea-1

UAE President Sheikh Mohamed in South Korea: Highlights of Day 1

During closed-door meetings with the UAE President, South Korean industry leaders discussed enhancing partnerships in advanced technology sectors such as semiconductors, and renewable energy

UAE holiday list 2025

Public holiday dates in 2025: UAE announces calendar

The list of holidays, is applicable for both government and private sectors, unless stated otherwise

Dubai’s FIVE picks Citi, Deutsche Bank for IPO next year

Dubai party hotel operator FIVE taps Citi, Deutsche Bank for IPO next year

The company owns one of Dubai’s biggest party hotels, where guests can park their supercars inside a nightclub for $2,723 (Dhs10,000)

earthquake

Two earthquakes hit Oman Sea, tremors felt in the UAE

The earthquakes were recorded at a depth of 10 kilometres off the coast of Ras al Khaima