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Uber signs deal with Dubai regulator after pricing rows

Ride-hailing service Uber signed an agreement with Dubai's transport authorities on Wednesday to become fully regulated after a series of clashes over pricing and availability. The move signals friendlier relations between the government of...

Etisalat posts net profit increase of 51%

Etisalat Group today announced its consolidated financial statements for the three months ending 30th June 2016. Financial Highlights and Key Developments: • Consolidated net profit after Federal Royalty increased year over year by 51% amounting to...

Adnoc opens UAQ Marine Service Station

Adnoc Distribution has opened the Umm Al Quwain Marine service station located at the fishermen port in the emirate. The opening ceremony of the new service station was attended by Saeed Mubarak Al Rashidi, Acting...

Dubai confidence improves further as commercial permits rise 16.3%

Commercial permits issued by the Department of Economic Development (DED) in Dubai to companies for various activities like marketing campaigns, sales promotions and exhibitions increased 16.3 per cent over the first six months of...

Dubai’s Damac awards 25 contracts worth Dh3bn

Dubai developer Damac Properties has awarded 25 construction and consultancy contracts worth Dh3 billion in the first half of 2016, it announced on Sunday. Contracts awarded include the main packages for more than 2,670 villas...

Emaar Malls records 17% growth in net profit

Emaar Malls, the shopping malls and retail business majority-owned by global property developer Emaar Properties, has reported first-half (January to June) 2016 net profit of Dh987 million (US$ 269 million), 17 percent higher than...

Downtown Dubai set for ‘final’ ACT One

Emaar Properties will soon launch 'ACT One', a new residential project, in the Opera District in Downtown Dubai, company-registered brokers told Emirates 24|7. “The launch of the first tower of the two-tower project will take...

Dubai’s Limitless to make early loan payment of Dh2bn to creditors

Dubai-based real estate developer Limitless announced today that it will make an early payment of Dh2.07 billion to banks and trade creditors this month, following the successful conclusion of its restructuring agreement with lenders. Under...

Dubai imposes 5% import duty on gold jewellery

Dubai has imposed a 5% import duty on gold and diamond jewellery, a move which is likely to hurt Indian exports at a time when demonetisation has hit business at home. The new levy may...

How landmark projects impact Dubai real estate value

The influence that an iconic project can have on its locale is often quite dramatic. Apart from becoming a magnet for activity and development, trophy properties or iconic projects have the ability to change...
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