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UAE’s Gulf Finance Corp to raise up to Dhs 600m syndicated loan

Gulf Finance, part of Dubai’s Shuaa Capital, provides finance to small and mid-sized firms in the UAE.

Top tips when hiring new recruits in the UAE

New survey finds one in 10 recruits are regarded as a ‘poor hiring decision’ by HR directors

Dragon Oil agrees to ENOC’s increased takeover bid

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

UAE announces Ramadan working hours for private sector

Working hours for private sector employees will be reduced by two hours with no change in salaries.

Sheikh Mohammed forms Dubai Creative Clusters Authority to oversee freezones

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

UAE’s NMC Health seals latest buy with $160.6m ProVita deal

NMC will acquire 100 per cent of ProVita for cash from TVM Capital Healthcare Partners, Saudi Arabia’s Olayan Group, Al Zarooni Emirates Investment and other minority shareholders

UAE oil minister says studying fuel subsidies, report ready soon

Suhail bin Mohammed al-Mazroui said that the government had requested a report after there were questions over why domestic fuel prices didn’t drop after global oil prices fell

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

Etihad Airways eyes $1bn through debut bond issue

The Abu Dhabi airline is planning to launch its bond through a unit or special purpose vehicle

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

UAE sets up moon sighting committee for Ramadan, announces public sector timings

Employees at ministries and other federal authorities will work from 9am to 2pm during Ramadan

Abu Dhabi’s new financial freezone starts accepting licence applications

Abu Dhabi Global Market is preparing for its launch in the second half of 2015

Open skies with GCC crucial for US economy – senior Boeing official

Three US carriers are calling for an end to the US’ open skies agreement with the UAE and Qatar over a subsidies row

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

Gulf states defend Qatar 2022 World Cup

The UAE’s and Qatar’s official news agencies said Gulf information ministers had called Qatar’s winning of the hosting rights “a success for all the states of the GCC”.

Jean-Georges Dubai Opens JG Dining Room

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

Luxury Belgian chocolatier Godiva plans major UAE, Saudi expansion

The company aims to double the number of outlets in the UAE and Saudi Arabia in the next six to 12 months

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.

Abu Dhabi ruler issues law to regulate property market

According to the decree, all real estate developments must be registered with the government along with sales transactions listing the buyer.

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.

Abu Dhabi’s Royal Jet gets $117m loan to fund aircraft buys

The two Boeing 737-700 BBJ aircraft are due for delivery in September and December

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

UAE’s Masdar in talks with Germany’s RWE on green energy projects – source

RWE’s CEO Peter Terium had said earlier that the company was in talks with an Abu Dhabi investor regarding joint renewable energy projects, but declined to reveal its identity.

Video: flydubai’s latest 737 takes shape in Boeing’s Renton factory

Boeing’s 737 manufacturing facility in Renton produces 42 airplanes every month

UAE fixes price of 3,500 food items before Ramadan

The ministry said that it has signed a deal with retailers to offer discounts of up to 70 per cent during Ramadan on about 4,700 essential food items.

Emirates signs codeshare deal with Europe’s Flybe

The deal, due to be implemented in July, provides the Dubai carrier with greater access to the UK and Europe

Emirates airline says to submit response soon in Open Skies row

The official did not specify a date by which the airline would file its responses to subsidy allegations

DIFC announces 10-year plan, says will triple in size by 2024

The financial free zone hopes that Dubai’s financial sector will raise its GDP contribution to 18 per cent over the next 10 years