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UAE

Dubai’s Alabbar acquires ‘large’ stake in regional VC fund MEVP

MEVP is one of the largest venture capital firms in the MENA region

UAE Exchange Group targets up to $300m in acquisitions

The group aims to increase its share of the $575bn global remittance industry to more than 10 per cent by 2020

Abu Dhabi fund seeks $1.7bn sale of Paris office buildings – report

The portfolio is said to include 6-8 Boulevard Haussmann, an office building leased to French bank BPI France

UAE ban on Bangladeshi workers to be lifted – report

Bangladeshi citizens have been unable to seek work in the UAE since 2012

Tailgating accidents cause eight deaths in Abu Dhabi

The deaths occurred during 73 tailgating traffic accidents in Abu Dhabi during the first four months of the year

Dubai’s Emaar opens new mega mall in Istanbul

The mall is projected to be welcome 25 million visitors annually

Dubai airline Emirates to offer iftar meals during Ramadan

During the holy month, cold meals will be served in lieu of a hot one on all flights to Jeddah and Medina

Etihad ESCO awards contract for solar panel installation at 640 Hatta villas

The contract covers development, engineering, procurement, construction, operation services, maintenance and installation

Dubai developer Damac’s managing director Ziad El Chaar resigns

Ossama Wassim Abbas will assume the responsibilities of general manager – Sales

Dubai’s DAMAC launches new tower in Qatar’s Lusail City

The project is DAMAC’s third in Lusail City

Dubai health insurance enquiries skyrocket after deadline

It became mandatory for every Dubai resident to have insurance coverage after March 31

Dubai pushes back Al Maktoum International Airport expansion to 2018

Dubai is spending around $36bn to expand the airport

Dubai bans disposable phone chargers

Companies have been given a month to halt the sale of disposable chargers

Nearly two thirds of Dubai schools can increase fees by 3.6% or more

The schools regulator announced in February that outstanding schools would be able to increase fees by 4.8 per cent

Five UAE football clubs to merge

The mergers will see the formation of two new clubs, Sharjah Sports and Cultural Club and Shabab Al Ahli Dubai Club

Dubai’s Alabbar says Noon ‘on track’ to launch in 2017, will move base to Riyadh

The $1bn e-commerce site was slated to launch in the UAE in January

Dubai’s two airports likely to welcome 100 million passengers in 2017

Dubai International welcomed 83.6 million passengers last year

Al Maha Nestle 1

Nestle officially opens Dhs530m Nescafe, Maggi factory in Dubai South

The Al Maha facility is Nestle’s 18th factory in the Middle East

New shopping centre opens in Dubai’s Jumeirah

The Mall spans two floors and houses more than 65 stores.

Dubai’s most expensive penthouse sold for $16.3m – report

Branded residential developments are known to command a premium

UAE businesses found unprepared for VAT introduction

Survey reveals most UAE businesses have no VAT strategy or budget in place

UAE Crown Prince meets with Trump at the White House

The meeting saw the signing of a defence cooperation deal

UAE ministry denies plans to tow icebergs for drinking water

Abdullah Mohammad Sulaiman Al Shehi, managing director of National Advisor Bureau Limited, was reported to have confirmed the plans earlier this month

Dubai’s Nakheel starts leasing at Nad Al Sheba Mall

The 1.2 million sq ft mall will have 200 shops, restaurants and entertainment outlets

Hilton Garden Inn hotel opens in RAK

The hotel is the result of a multi-million-dirham refurbishment project at the former Hilton Ras Al Khaimah

Emirati cuisine now mandatory for upscale hotels in Abu Dhabi

The new initiative will apply to restaurants and room-service offerings at four and five star hotels

Abu Dhabi’s Mubadala to invest up to $15bn in SoftBank fund

Saudi Arabia’s Public Investment Fund has also committed as much as $45bn to the fund

Dubai sees over 126% rise in new businesses launched during Q1

New businesses launched in Dubai during Q1 reached 308, compared to 136 in Q1 2016

Dubai firm GGICO aims to complete debt restructuring by June

The firms is expected to complete a restructuring of around Dhs2.36bn in loans

Food import ban will not affect UAE market during Ramadan

The UAE announced a ban on the imports of specific vegetables and fruits from five Middle Eastern countries