The emirate will not stop issuing new hotel licenses as previously reported by local media, but will be selective in the number it grants.
More than 1.5 million tourists visited the emirate last year, and the city is putting in several efforts to attract more visitors in the future.
Dania Saadi reports on the new wave of entrepreneurs spreading across the Gulf, boosted by growing funding opportunities.
Despite demand worries, OPEC oil production reportedly reached 30.97 million bpd in February, the highest since November 2008.
The region’s representatives on Forbes’ annual list of the World’s Billionaires have a combined net worth of $65.4 billion.
P&G was named advertiser of the year, while Y&R Dubai bagged the advertising agency of the year award.
Healthcare provider NMC hopes to raise $250 million through the listing, and plans to use the funds for further expansion.
Dubai will soon welcome two large hotels located in close proximity. But will they be able to co-exist and attract enough demand?
The outspoken head of Qatar Airways has expressed support for the planemakers as they struggle to resolve production flaws.
The hotel group has 15,000 rooms under development in the MENA region and is planning further expansion.
The 750 million renminbi bond, which matures in 2015, was 5.7 times oversubscribed, the bank said.
The parliament has voted to extend the suspension of the tax on foreign workers for another two years, according to reports.
The issuance of Islamic bonds in the region could reach over $14 billion this year because of increasing investor demand, according to HSBC.
The utilities unit of Drake & Scull International has won the Dhs100 million contract to set up a water system for a thermal power station in India.
The Gulf state is initially planning to import the equivalent of around 3 million tonnes a year of LNG from Russia’s Gazprom.
The Saudi Arabia-based telecoms operator is keen to build a domestic partnership with a mobile virtual network operator.
Regional unrest might affect China’s oil input, which in turn will have a drastic impact on global asset prices, said hedge funds guru Marc Faber.
The telecoms operator reported a net profit excluding royalty of Dhs1.8 billion in 2011, a 47.8 per cent rise over the previous year.
The move makes the Abu Dhabi-based sovereign wealth fund one of the largest shareholders in Arabtec.
Total bank deposits in the UAE reached Dhs1,069.7 billion at the end of December 2011, according to the central bank.
The kingdom’s foreign trade revenue amounted to SR1300 billion in 2011 and is set to rise by 14 per cent this year.
A Korean consortium has signed a deal with ADNOC to acquire a 40 per cent stake in three oilfield projects in the UAE.
Kuwait’s controversy-ridden stock market regulator, Capital Markets Authority (CMA), has appointed three new commissioners.
Saudi Arabia has increased the price of its Arab Light crude oil for customers in Asia by $1.25 a barrel for April.
The value and volume of shares traded on the Dubai Financial Market increased in February.
Many people in the country are dissatisfied with their current financial position, according to a Bayt.com-YouGov survey.
National oil companies that are globalizing must be prepared to face complicated, international risks.
Royal Bank of Scotland said it no longer requires equity research on Middle Eastern companies from Dubai’s Rasmala Investment Bank.
Gulf retail groups are resurrecting dying Western brands, but they face unchartered risks.
Abu Dhabi’s International Petroleum Investment Company is refinancing the $850 million, three-year loan it signed in February 2009.
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