Abu Dhabi's Taqa denies merger talks as shares near all-time low

The energy company Taqa denied reports that it was considering a merger with another Abu Dhabi government entity as its shares traded near an all-time low. The stock fell 5.4 per cent to 70 fils following the news. In a statement to the Abu Dhabi Securities Exchange, the company said: “Taqa confirms it is not engaged in merger discussions with any government or other entity.” It was referring to a CNBC Arabiya news report..... Read more »

Posted on : 7/2/2015

Dubai to build world's first 3D printed office

Dubai: Dubai is planning to build the world’s first fully functional 3D printed building, an ambitious move that will establish the UAE’s position as the global centre of technology in architecture construction and design, UAE National Innovation Committee revealed..... Read more »

Posted on : 6/30/2015

Renewable energy app ready to feed hungry minds

The renewable energy sector has been growing fast, and more and more people – particularly potential investors – are seeking information on little known areas to venture into. Although some forms of renewable energy have been around for decades, there has been almost no mapping of the industry. Sure, companies have looked into their particular areas of interests, but until the International Renewable Energy Agency (Irena), an intergovernmental organisation that supports countries in their transition to a sustainable energy future, launched in 2009, there was little aggregated information available..... Read more »

Posted on : 6/30/2015

Abu Dhabi mulls state-backed merger for Taqa

Abu Dhabi may merge its national energy company into another state-owned business to make the company's crippling debts more manageable and try to turn around its performance, sources familiar with the matter told Reuters..... Read more »

Posted on : 6/30/2015

Damac launches latest Paramount property in Dubai

Damac Properties has launched Paramount Residences at the Paramount Tower Hotel & Residences, an 826-key hotel and residences tower on Sheikh Zayed Road, Dubai..... Read more »

Posted on : 6/29/2015

New hotels: Dubai still leads with with 96 projects

Dubai — Dubai is leading the Middle East and Africa in new hotel developments with 96 total projects and 36,523 rooms in the pipeline, a report released on Wednesday said. A Tophotelprojects report said Dubai, which has been the Middle East and Africa’s leading city for hotel openings for the past three years, is now recording an all-time high activity to boost the room capacity from the current 65,000 to over 100,000 by 2020. According to JLL, a leading real estate investment and advisory firm, Dubai is set to see a massive increase of 28,000 new hotel rooms by 2018..... Read more »

Posted on : 6/25/2015

Oil price drop is a major challenge for the GCC's construction sector

Falling oil prices pose a major challenge to the growth of the construction sector in the GCC, a report by Alpen Capital has said. The dip in oil prices may push the GCC nations to restrict state spending, hampering the growth of the construction industry which is materially dependent on government funding, the report stated..... Read more »

Posted on : 6/25/2015

Dissolvable stent saves life of cardiac patient

Dubai: A 49-year-old heart attack patient was granted a new lease of life when a Dubai hospital put in three new generation bio-degradable scaffolds in a major artery of his heart that was 90 per cent blocked. The new Bioresorbable Vascular Scaffold system (BVS) is different from a conventional drug-coated stent as it dissolves completely without a trace within three years..... Read more »

Posted on : 6/23/2015

First Solar grabs 200MW in Dubai

<p>First Solar is to supply its photovoltaic modules for the 200MW second phase of the Mohammed bin Rashid Al Maktoum solar park in Dubai.</p>.... Read more »

Posted on : 6/23/2015

UAE will stay with long-term strategy to diversify economy

Dubai: The non-oil sector has experienced positive growth during the first quarter of 2015, wrote Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, in a note on the UAE economy..... Read more »

Posted on : 6/21/2015