UAE and Saudi 2015 growth forecasts raised

Analysts have raised their forecasts for this year's growth in the two biggest Gulf Arab economies but cut predictions for next year because of the outlook for oil output, according to a Reuters poll published on Thursday..... Read more »

Posted on : 8/21/2015

UAE domestic energy usage doubles in 10 years: Study

The UAE's gross domestic electricity consumption has more than doubled over the past 10 years, and is expected to grow even more rapidly over the next five years as the country undergoes substantial population and economic growth, according to a study by management consultancy Strategy &, formerly Booz & Company. .... Read more »

Posted on : 8/21/2015

Dubai is world's 5th fastest growing city economy: Report

Dubai has been ranked among the top 10 cities that are powering economic growth within their nations, according to a report by the Brookings Institution. The report by the leading American think tank has ranked Dubai fifth worldwide for 2014, up from 18th position in the previous year..... Read more »

Posted on : 8/20/2015

Dubai World Central rebranded as Dubai South

Dubai World Central, a futuristic city being designed to accommodate one million people, will now be known as Dubai South. The rebranding of the 145 square kilometres city was under a new law issued by His Highness Shaikh Mohammad bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, in his capacity as Ruler of Dubai..... Read more »

Posted on : 8/20/2015

Strong Dubai crude oil trades skew Asia price benchmark

Record trading of Dubai crude by two Chinese state companies this month on a decades-old oil pricing system has pushed the benchmark higher, even as other grades are being pressed lower by a global glut. The strong Dubai trade has forced Middle East producers to raise official selling prices, driving Asian buyers to seek cheaper oil elsewhere or cut refinery runs due to low margins..... Read more »

Posted on : 8/19/2015

Dubai receives 118,000 medical tourists in Q1 2015

Dubai’s healthcare providers treated 118, 727 medical tourists in the first quarter of 2015, figures from Dubai Health Authority showed. The patients were received by 16 private hospitals that are licensed by the DHA and members of Dubai Medical Tourism Club..... Read more »

Posted on : 8/19/2015

DIFC heads to Mumbai to strengthen UAE-India ties

Dubai International Financial Centre (DIFC) is sending a delegation next Monday to Mumbai, Indian's commercial capital, on a four-day visit to highlight DIFC’s status as an internationally recognised platform that is stimulating trade and investment in the emerging economies of the South-South corridor as well as connecting businesses with established overseas markets..... Read more »

Posted on : 8/19/2015

UAE, India reach milestone in relationship

His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, received at Zabeel Palace, Monday afternoon, Narendra Modi prime minister of India, and the accompanying delegation..... Read more »

Posted on : 8/18/2015

Emirates Reit profit up 2.8% in H1

Emirates Reit on Monday announced that its net profit increased by 2.8 per cent to $35.11 million (Dh129 million) for the first half of the year, over the same period last year. The UAE's first regulated Shariah compliant real estate investment trust said that net property income rose 6.4 per cent to $45 million (Dh164 million)...... Read more »

Posted on : 8/18/2015

Mag 5 to launch new phase as 80% of first part sold out

Mag 5 Property Development, or Mag 5 PD, a real-estate company formed jointly by Mag Property Development and MBM Holding, has announced that 80 per cent of Phase 1 of its affordable housing project, Mag 5 Boulevard, has sold out..... Read more »

Posted on : 8/17/2015