With 25 to 35 per cent of buyers in Dubai depending on mortgages, regulations that limit lending have been instrumental in easing the growth in luxury house prices.
The Dubai benchmark added 0.5 per cent in the first hour of trade with builder Arabtec rising 1.5 per cent.
The Royal Estate project, which was stalled in 2008, was relaunched this year as a joint venture between developers Aristocratic Star, PAL Developments and Pacific Ventures.
The developer is offering its investors an option to convert its Global Depositary Receipts (GDRs), listed on the London bourse into ordinary shares that would be listed on Dubai’s stock market.
Etihad’s plans to take a 49 per cent stake in the Italian carrier has been held up by disagreements over Alitalia’s debt pile and plans for job cuts that have stoked outrage among Italian unions.
Earthquake measuring 5.5 on Richter scale took place in Iran while tremors were felt in Abu Dhabi and Northern parts of the UAE.
The UAE is fast becoming a cashless society, thanks to a smart governance push and the advent of more secure payment technologies.
Emirates also suspended all its flights to Kiev and none of its planes fly over the Ukraine airspace.
The S&P GCC index dropped by 1.8 per cent during the second quarter of the year, according to a report by NBK.
Growth in Dubai’s retail sector is stimulating demand for warehouse and distribution facilities, says report.
Private sector companies in the UAE will remain closed on July 28, Monday and July 29, Tuesday for Eid.
Wooing Hollywood and Bollywood producers with generous financial rebates, Abu Dhabi is steadily heading towards its aim of becoming a global film hub.
It did not disclose the value of the deal, nor the size of the stake being sold.
The new mall will feature an entertainment zone and an ice rink and will anchored by a LuLu hypermarket, the retail giant said.
The UAE-based fast food chain has teamed up with Prism Properties to open its outlet in the South Indian city.
The UAE is looking to issue various types of visas for purposes such as visit, work, education, medical care and for conferences.
Net profit climbed to Dhs103 million ($28.1 million) in the three months to June 30 from Dhs92 million a year earlier, the company said in a statement.
Both carriers have been in talks for months, but a final agreement has been held up by negotiations over job cuts and a debt restructuring at Alitalia requested by Etihad.
Ismaik cut his stake to 28.77 per cent from 28.85 per cent, the website of the Dubai Financial Market showed.
Faced with declining sales, Montblanc International CEO Jerome Lambert explains how he hopes to bring the historic pen maker forward in the digital age.
Dubai’s largest lender expects to see its lending grow by four to five per cent this year, the bank’s finance head Surya Subramanian told reporters.
Aramex posted a second-quarter net profit of Dhs80.8 million compared with Dhs72.3 million in the corresponding period of 2013.
Passenger traffic through Dubai’s main airport dropped 8.5 per cent from a year earlier in June to 5.07 million people.
The lender is talking to the country’s markets regulator as well as Abu Dhabi exchange to ratify details of the deal.
Pamper yourself with a high-end holiday this Eid Al Fitr.
DIB’s earnings were boosted by a 34.5 per cent increase in income from commissions, fees and foreign exchange.
Volumes were boosted by new business at its London Gateway facility and Embraport in Brazil.
In March, TAQA said a consortium led by it had agreed to buy the two power plants from Jaiprakash Power Ventures.
The firm made a net profit of Dhs547.7 million in the three months to June 30.
The lender made a net profit of Dhs1.31 billion in the three months to June 30.