Dubai property developer Damac has canceled its dividend payments, conceding slumping profitability and a weak market are hurting its operations. “Kindly be advised that Damac confirms the news shared on the media in respect of non-distribution of dividends in light of the low profitability and the weak market,” the company said in a statement to […] Read more
Etihad Aviation Group and Air Arabia announced on Wednesday they have signed an agreement to launch Air Arabia Abu Dhabi, the first low-cost carrier based out of the UAE capital. The two aviation companies will establish a joint venture that will operate as a budget airline based out of Abu Dhabi International Airport. The board […] Read more
The United Arab Emirates will lift a ban on its citizens travelling to Lebanon from Tuesday, UAE state news agency WAM said Monday, as a Lebanese delegation visits Abu Dhabi seeking support for its ailing economy. The UAE’s close Gulf ally Saudi Arabia said in February it was lifting its own advice to citizens not […] Read more
Buyer interest in Apple’s latest iPhone line up is lower than the previous year despite a more affordable price point, an annual survey by Piper Jaffray found. While Apple’s new iPhone 11 starts at $699, $50 less than last year’s iPhone XR, customers may be holding out for 5G models that the company is reportedly […] Read more
DUBAI, United Arab Emirates — Saudi Arabia’s energy minister said Tuesday that 50% of its daily crude oil production that was knocked out by a weekend attack had been restored and that full production is expected by the end of the month. “Where would you find a company in this whole world that went through […] Read more
Watch out Impossible: Kellogg Co. is planning its own plant-based imitation meat. Early next year, Kellogg’s Morningstar Farms will begin selling the “Incogmeato” burger: a plant-based, refrigerated patty made with non-GMO soy that is designed to mimic meat’s look and flavor. It will also start offering new versions of its vegetarian “Chik’n tenders” and “Chik’n […] Read more
The bilateral ties between India and the UAE are not only enduring but also prolific and primed for more growth. Having prospered for several decades, it has more recently advanced into a sterling partnership spanning multiple strategies, with both countries firmly committed to expanding collaboration in new sectors. Since the beginning of this year, several […] Read more
In a step to reduce consumption of unhealthy goods and modify consumers’ behaviour, the UAE cabinet adopted a decision to expand the list of excise taxable products to include sweetened beverages and electronic smoking devices, starting 1st January 2020. According to a statement released by the Cabinet General Secretariat, “The decision comes to support the […] Read more
“I always like to say that we build real homes for real people and that if you focus on the customer then everything else falls in line,” says Robert Booth, Co-founder and Managing Director of Ellington Properties. The Canadian businessman has a wealth of experience in the Dubai property sector, having previously held senior roles […] Read more
The UAE Cabinet, chaired by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has approved the sectors and economic activities eligible for up to 100 per cent foreign ownership in the UAE. The Cabinet meeting was attended by Lt. General Shaikh Saif Bin Zayed Al Nahyan, Deputy […] Read more
