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Dubai’s Amanat buys 4.14% stake in Al Noor Hospitals

Amanat was set up to invest in education and healthcare businesses in the UAE and other Gulf states.

DFSA fines United Investment Bank Limited $56,000

The financial freezone regulator said the bank was guilty of flouting anti-money laundering rules.

Dubai property rents drop, unlikely to rise sharply in the short-term – report

Average rents across the emirate are down 1.5 per cent compared to the same time last year, says Cluttons’ latest report.

Dubai house prices to fall further this year – Cluttons

Home values slipped 0.8 per cent in the first quarter, leaving average prices 0.5 per cent lower than a year earlier and 19.4 per cent below the 2008 peak, a new report says.

Emaar says IPO for hospitality unit remains on hold

The Dubai-based company has said that the IPO for EHG will be dependent on the right market conditions.

UAE’s Abraaj Group to invest $30m in Middle East SMEs

The company is investing in a new fund, which aims to address the funding gap for SMEs in the Middle East, North Africa and South Asia region.

Dubai’s Emaar announces intention to float Egypt unit on Cairo bourse

Emaar said it would use some of share sale proceeds to fund new developments in Egypt and grow its land bank in the country.

UAE’s RAKBANK makes offer to buy RAK National Insurance

The bank is looking to buy all or some of the shares of the insurance company at a price of Dhs3.64 a share.

UAE sentences five Qataris to jail for insulting leaders on Twitter

All accused in the case were also charged with a fine of Dhs1 million for the offence in addition to the jail term.

Despite rumours, Apple remains mum about Dubai store’s launch in August

The tech giant will open its biggest store worldwide in Dubai this summer, say reports.

UAE salaries to grow by 6% in next 12 months- survey

The majority of HR directors in the UAE noted a return of salary inflation for existing and new employees, a new study says.

Dubai World Trade Centre converted to a freezone

The move aims to boost Dubai as a hub for regional and international exhibitions while also attracting local and international investments.

Dubai named world’s second most important shopping destination

About 55.7 per cent of retailers in Dubai are international brands while the city attracted 45 new global brands last year.

MAG 5 JV launches new affordable residential tower in DWC

The project, valued at Dhs700 million, will comprise of 1,000 residential units and will be ready for handover by 2018.

Dubai Islamic Bank picks arrangers for potential dollar sukuk

DIB has mandated First Gulf Bank, HSBC, Maybank, National Bank of Abu Dhabi, Standard Chartered Bank and itself to arrange the meetings in Asia and Europe.

ICBC Dubai branch narrows price guidance for benchmark 5-yr dollar bond

The deal, rated A1 by Moody’s, has so far attracted orders totalling more than $3.5 billion from investors, a document showed.

Emirates plays off Airbus’ A350 against Boeing’s Dreamliner

Emirates’ head Tim Clark has said the airline will opt for either B787-10s or A350-900s in the next stage of its fleet development.

Dubai Water Canal project 33% complete, new diversions announced

The Roads and Transport Authority has opened phase II of the main traffic diversion works on Al Wasl Road.

Majid Al Futtaim to invest Dhs1bn in VOX Cinemas until 2020

The funds are aimed at helping VOX attract a further 50 million customers over the next five years.

Dubai Properties says Arabella Townhouses sell out on launch day

The developer has now launched additional units for sale within the project, which is located in its Mudon community in Dubailand.

Nakheel signs deal with Landmark Group for 25 outlets in Al Khail Avenue

Construction on the Al Khail Avenue mall will begin this year, with expected opening in 2018.

UAE’s Waha Capital to invest up to $1.08bn by 2020

Waha is looking to invest in sectors with high growth potential such as energy, infrastructure, healthcare and education.

Abu Dhabi prosecutors say will contest verdict in schoolgirl death case

The Abu Dhabi Appeals court had eased the verdicts on the defendants and overturned the school’s closure.

Etihad Airways says US carriers got $70bn in government aid

The claim follows US carriers’ allegations that Etihad, Emirates and Qatar Airways have received more than $40 billion in state subsidies.

Credit Cards Bolster Citigroup In UAE, Bahrain And Poland

Citigroup has experienced growth in credit card acquisitions in the UAE of 2.5 times over the past year, it said.

Dubai’s Marka Buys Reem Al Bawadi Restaurant Chain For Dhs315m

The acquisition is being funded by a blend of the company’s own funds and bank facilities, Marka said.

Taxi-Provider App Uber Now Targets Health, Retail

Uber’s reach now stretches across 310 cities and 55 countries and it records one million trips a day.

Revealed: Top 10 Medical Tourism Destinations In The World

Canada was ranked as the world’s best medical tourism destination worldwide in 2014, according to a new index.

Dubai’s Drake & Scull Q1 Net Profit Falls 38%

DSI’s first-quarter revenue was Dhs1.11 billion, down from Dhs1.25 billion a year earlier.

Expats In GCC Countries Can Now Apply For UAE Visa Online

From October, online visas will become mandatory, and visas on arrival will not be granted at the airport, officials said.