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Emaar Misr sets IPO price at 3.8 Egyptian pounds per share

Emaar Misr is floating 12.99 per cent of the company, amounting to 600 million shares

Dubai satellite insurer elseco’s revenue to quadruple by 2020 – CEO

Elseco’s CEO expects satellite insurance revenue to reach about $120 million in 2020, while a greater focus on aviation and energy would earn about $300 million combined.

UAE launches new state bank to push housing, job creation policies

Abu Dhabi-based Emirates Development Bank has been created by the merger of Emirates Industrial Bank and Emirates Real Estate Bank

Sharaf DG to open first Egypt store in 2016, plots Gulf expansion

The electronics retailer is also looking to enter the Saudi market next year, a senior official said.

Dubai among world’s top 25 most expensive cities

Dubai and Abu Dhabi were also ranked most expensive cities for expats in the Middle East, according to a new survey

Dubai’s ENOC signs $1.5bn syndicated loan from 21 banks

The facility will support its expansion plans and provide the energy firm with long term funding

Emirates introduces new feature to block tickets for 48 hours

The ‘hold my fare’ feature is open to customers in the UAE and other select markets for a refundable fee

Dubai developer Damac opens ladies only sales office

Named Morjana, the office will have 25 female staff and will be open seven days a week

Abu Dhabi records 20% rise in visitors in first four months of 2015

Over 1.3 million guests stayed in the emirate’s hotels and hotel apartments

UAE confirms that Ramadan will begin on June 18

The first day of Eid Al Fitr is likely to fall on Friday, July 17, say astronomers

Private wealth in the UAE to grow by 10.7% in five years

Private wealth in the UAE is estimated to reach $1 trillion by 2019, boosted by buoyant equity markets and a growing economy, a new study shows.

Reem Island accused’s lawyer calls non-muslim witness accounts ‘invalid’

Alaa Bader Al Hashemi is charged with the murder of American schoolteacher Ibolya Ryan and for planting explosives at the doorstep of another resident

Etihad starts daily flights to Hong Kong

The new service will offer a total of 3,620 seats per week between Hong Kong and Abu Dhabi

Flydubai launches daily direct flights to Faisalabad in Pakistan

The budget carrier said that it will be increasing frequency on a number of routes and doubling the size of its network in Pakistan

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