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Bengaluru to get Rs 1,000-crore Dubai-type Design District

An avant-garde ‘Design District’ will come up in Bengaluru on the lines of Dubai’s d3, IT/BT Minister C N Ashwath Narayan said on Wednesday. The proposed Bengaluru Design District will be set up with an investment of Rs 1,000 crore, the minister told reporters after returning from his four-day trip to the Dubai Expo. The Bengaluru Design District will come up on an area spread over 100-150 acres. [Via]
Tags: Business, News, Dubai, Bengaluru, Ashwath Narayan, Bengaluru Design District


Lebanese President Says Forensic Audit of Central Bank Has Begun

DUBAI (Reuters) -A forensic audit of the Lebanese central bank by Alvarez & Marsal began on Thursday, Lebanese President Michel Aoun said on...
Tags: Dubai, Reuters, Michel Aoun, Alvarez Marsal, Forensic Audit of Central Bank Has Begun


Huawei appears to have quenched its thirst for power in favour of more efficient 5G

Never mind the performance, man, think of the planet MBB Forum 2021 The "G" in 5G stands for Green, if the hours of keynotes at the Mobile Broadband Forum in Dubai are to be believed.…
Tags: Software, Dubai, Huawei, MBB, Mobile Broadband Forum


Aramex drives #Dubai bourse higher, #Saudi at 15-year high | Reuters

Aramex drives Dubai bourse higher, Saudi at 15-year high | Reuters Dubai's stock market ended higher on Wednesday, outperforming its Gulf peers, led by a surge in logistic firm Aramex, while the Saudi index extended gains a day after hitting a 15-year peak.Dubai's main share index (.DFMGI) finished 1.4% higher, with Aramex (ARMX.DU) soaring 14.9%, its biggest intraday gain since Jan. 2009, after a direct deal worth 1.41 billion dirhams ($383.90 million) for its 295 million shares.On Tues...
Tags: Travel, Saudi Arabia, Qatar, Egypt, United Arab Emirates, Dubai, Abu Dhabi, Doha, Uae, Gulf, Reuters, Aramex, Adi, Tasi, Rupert Neil Bumfrey, Reuters Dubai


Ronaldo wearing ‘wrong’ shirt at Dubai’s Madame Tussauds

Dubai (AFP) – Dubai’s Madame Tussauds said Wednesday it will soon change the shirt of the wax figure of Cristiano Ronaldo after online backlash that the Portuguese footballer was wearing the “wrong” jersey. London’s renowned... Visit http://www.majorleaguesoccertalk.com for the rest of the story.
Tags: London, Sport, Soccer, Dubai, Ronaldo, Cristiano Ronaldo, Madame Tussauds, Afp


#Dubai Bourse CEO Rebukes Switzerland Over Letter on #UAE Gold - Bloomberg

Dubai Bourse CEO Rebukes Switzerland Over Letter on UAE Gold - Bloomberg The head of Dubai’s commodity exchange took a swipe at Swiss authorities for telling their refiners to tighten up audits on gold imports from the United Arab Emirates.Switzerland this month wrote to refineries urging that sufficient steps are taken to identify the true country of origin for all gold coming from the UAE. There have been concerns from non-governmental organizations in recent years that regulatory loopholes ...
Tags: Travel, Europe, Dubai, Switzerland, Uae, Organisation for Economic Co, DMCC, Rupert Neil Bumfrey, Ahmed bin Sulayem, Dubai Multi Commodities Centre, United Arab Emirates Switzerland, State Secretariat for Economic Affairs, UAE Gold Bloomberg


United Arab Emirates: Offshore FinTech Trends - Walkers

The UAE is taking FinTech seriously. Dubai and Abu Dhabi, and the DIFC and ADGM respectively, have implemented a wide range of initiatives and projects with the aim of growing FinTech...
Tags: News, United Arab Emirates, Dubai, Abu Dhabi, Uae, DIFC, ADGM


Five Killed in Blast Inside Syrian Army Ammunition Depot - Iran State TV

DUBAI (Reuters) - Five people were killed and four injured in a blast inside a Syrian army ammunition depot alongside the Homs-Hama road in the...
Tags: Dubai, Reuters


French express parcel firm Geopost acquires 20.15% stake in Dubai's Aramex | Reuters

French express parcel firm Geopost acquires 20.15% stake in Dubai's Aramex | Reuters GeoPost, the express parcel arm of French Groupe La Poste (LAPST.UL), has acquired a 20.15% stake in Dubai-listed courier firm Aramex (ARMX.DU), according to a regulatory filing on Wednesday.The French express logistics firm acquired about 295 million shares in Aramex, valuing the deal at 1.4 billion dirhams ($381.18 million), a filing on the Dubai Financial Market showed. [Author: [email protected] (Rup...
Tags: Travel, Dubai, Reuters, Aramex, Rupert Neil Bumfrey, GeoPost, Aramex ARMX, Groupe La Poste LAPST UL


#Dubai’s Biggest Bank Still Waiting for Asset Quality to Improve - Bloomberg

Dubai’s Biggest Bank Still Waiting for Asset Quality to Improve - Bloomberg Emirates NBD PJSC reported a surge in earnings and said impairment charges dropped sharply even as asset quality barely improved.Dubai’s biggest bank said its nine-month profit rose an annual 29% to 7.3 billion dirhams ($2 billion), while impairment allowances dropped 42%. The ratio of non-performing loans was at 6.2% as of Sept. 30, unchanged from a year earlier, according to a statement on Wednesday.Dubai, which kick...
Tags: Travel, Saudi Arabia, India, Middle East, United Arab Emirates, Dubai, Uae, Emirates NBD, Sullivan, Patrick Sullivan, Rupert Neil Bumfrey, Shayne Nelson, Bloomberg Emirates NBD PJSC


Aramex buoys #Dubai bourse, #Saudi at 15-year high | Reuters

Aramex buoys Dubai bourse, Saudi at 15-year high | Reuters Dubai's stock market rose in early trade on Wednesday, outperforming its regional peers, while the Saudi index held on to a 15-year high.Dubai's main share index (.DFMGI) advanced 0.8%. Aramex (ARMX.DU) surged 14.9%, its biggest intraday gain since Jan. 2009, after a direct deal worth 1.41 billion dirhams ($383.90 million) was implemented on its 295 million shares.On Tuesday, the logistics firm also resumed deliveries to and from the U...
Tags: Travel, Saudi Arabia, China, Qatar, Egypt, United Arab Emirates, Dubai, Abu Dhabi, Doha, Reuters, Aramex, Adi, Tasi, Rupert Neil Bumfrey, Al Rajhi, Abu Dhabi National Oil Co


United Arab Emirates: Precautions To Consider Prior To Investing In A UAE Business - BSA Ahmad Bin Hezeem & Associates LLP

With Expo 2020 Dubai fast approaching, many businesses are looking to enter the UAE market and existing businesses are looking to expand their presence.
Tags: News, Dubai, Uae, Associates LLP, Ahmad Bin Hezeem


Airlines around the world are resuming flights with the world's largest passenger jet after dumping it during the pandemic

An Emirates Airbus A380. Arnold Aaron/Shutterstock.com The Airbus A380 is making a comeback as more pandemic-era travel restrictions are lifted. British Airways, Singapore Airlines, and Qatar Airways say they will fly their A380s before the end of the year. Other airlines have permanently said goodbye to their A380s in favor of more economical planes. The world's largest passenger plane is making its comeback as airlines around the world are moving quickly to once again shuttle trav...
Tags: Hong Kong, Europe, Japan, London, China, Singapore, US, Los Angeles, Trends, Canada, United States, Washington Dc, Paris, Middle East, Kuala Lumpur, Korea


S&P expects weak tourism to weigh on #Dubai economy until late 2022 | Reuters

S&P expects weak tourism to weigh on Dubai economy until late 2022 | Reuters Dubai is set for a "modest" recovery this year on the back of a high vaccination rate in the United Arab Emirates and limited COVID-19 restrictions, but weak international tourism will drag on the economy until late 2022, S&P Global Ratings said.The economy of the Middle East trade, finance, and tourism hub shrank 10.9% last year, with the coronavirus-driven drop in tourism contributing to 56% of the overall decline, ...
Tags: Travel, Middle East, United Arab Emirates, Dubai, Uae, Reuters, Rupert Neil Bumfrey, Reuters Dubai, COVID


#Saudi index hits 15-year peak; Egypt falls on profit-taking | Reuters

Saudi index hits 15-year peak; Egypt falls on profit-taking | Reuters Saudi Arabia closed at a more than 15-year high on Tuesday as crude prices resumed gains, while the Egyptian bourse retreated as investors booked profits following a recent rally.Brent crude was up 65 cents, or 0.8%, to $84.98 a barrel by 1206 GMT as a supply crunch in natural gas, electricity and coal continued across the globe while falling temperatures in China revived concerns.Saudi Arabia's benchmark index (.TASI) r...
Tags: Travel, Saudi Arabia, China, Qatar, Egypt, United Arab Emirates, Dubai, Oman, Abu Dhabi, Kashmir, Doha, Reuters, Adi, Jammu, Tasi, Etihad Etisalat


Football coach appeals 25-year Dubai jail term over CBD vape oil

Billy Hood claims he was forced to sign a confession in Arabic despite not speaking the language.
Tags: UK, News, Dubai, Billy Hood


Before-and-after images of landmarks around the world show the devastating sea-level rise that's coming

Projected future sea levels at Lalbagh Fort in Dhaka, Bangladesh. Climate Central A new study describes what would happen to global landmarks under various degrees of sea-level rise. In the best-case scenario, sea levels would rise nearly 10 feet in the next 200 to 2,000 years. But if global temperatures rise by 3 degrees Celsius, floods could overtake landmarks like the Statue of Liberty. Several times each year, the tide in Venice, Italy, rises more than 2 feet above the average sea leve...
Tags: UK, New York, Science, News, Climate Change, California, New York City, US, Trends, Global Warming, Ipcc, Spain, Shanghai, Sea Level Rise, Dubai, Buckingham Palace


#Dubai Du's Q3 net profit plunges to $77mln on higher expenses | ZAWYA MENA Edition

Dubai Du's Q3 net profit plunges to $77mln on higher expenses | ZAWYA MENA Edition Emirates Integrated Telecommunications Co., or Du, saw its third-quarter net profit plunge nearly 66 percent to 283 million dirhams ($77.05 million) as operating expenses rose, offsetting a rise in revenue.Operating expenses during the period rose to 2.26 billion dirhams from 1.97 billion dirhams a year earlier, the company said in a statement on Tuesday on the Dubai Financial Market, where it is listed.Revenue ...
Tags: Travel, Dubai, EBITDA, Du, Dubai Financial Market, Rupert Neil Bumfrey, Dubai Du s Q3, Fahad Al Hassawi


#Saudi index hits 15-year peak as most Gulf bourses gain | Reuters

Saudi index hits 15-year peak as most Gulf bourses gain | Reuters Saudi stocks scaled a more than 15-year high on Tuesday, rising for a fifth session in six and leading gains in the Gulf as crude oil prices reversed earlier losses.Oil prices recouped earlier losses as falling temperatures in China, the world's biggest energy consumer, revived concerns about its ability to meet heating demand needs amid power and coal shortages.Saudi Arabia's benchmark stock index (.TASI) rebounded 0.4%, touchi...
Tags: Travel, Saudi Arabia, China, Dubai, Abu Dhabi, Kashmir, Gulf, Reuters, Jammu, Tasi, ADNOC, Etihad Etisalat, Rupert Neil Bumfrey, QSI, Al Rajhi Bank, Masraf Al Rayan


Qatar Forms Climate Change Ministry, Appoints Finance Minister

DUBAI (Reuters) -Qatar's emir created an environment and climate change ministry on Tuesday and appointed Ali Bin Ahmad Al-Kuwari as finance...
Tags: Qatar, Dubai, Reuters Qatar, Ali Bin Ahmad Al Kuwari


Iran's Raisi Says Nuclear Talks With Major Powers Should Be Result-Oriented

DUBAI (Reuters) - Iran backs talks with six major powers that are result-oriented, Iranian hardline President Ebrahim Raisi said on Monday, as...
Tags: Iran, Dubai, Reuters Iran, Ebrahim Raisi


#AbuDhabi outperforms Gulf markets; Saudi retreats | Reuters

Abu Dhabi outperforms Gulf markets; Saudi retreats | Reuters Most stock markets in the Gulf ended higher on Monday, mirroring strong oil prices, although the Saudi index snapped a four-day winning streak on profit taking.Oil prices hit multi-year highs buoyed by recovering demand and high natural gas and coal prices encouraging users to switch to fuel oil and diesel for power generation.Saudi Arabia's benchmark index (.TASI) eased 0.1%, hit by a 1.5% fall in petrochemical maker Saudi Basic...
Tags: Travel, Saudi Arabia, Egypt, United Arab Emirates, Dubai, Abu Dhabi, Bahrain, Gulf, Reuters, Qatar National Bank, Tasi, Rupert Neil Bumfrey, Saudi Basic Industries, First Abu Dhabi Bank FAB, Emirates Telecommunications Group Etisalat, Commercial International Bank COMI


Qatar Signs Comprehensive Air Transport Agreement With EU

DUBAI (Reuters) - Qatar on Monday signed a comprehensive air transport agreement with the European Union, its Ministry of Transport and...
Tags: Eu, European Union, Dubai, Ministry of Transport, Reuters Qatar, Qatar Signs Comprehensive Air Transport


Fire Breaks Out at Dubai's Jebel Ali Industrial Zone

DUBAI (Reuters) - Dubai's civil defence services were working to put out a fire at an oil waste disposal unit in the Jebel Ali industrial area on...
Tags: Dubai, Jebel Ali, Reuters Dubai, Jebel Ali Industrial Zone


Dubai Government Says Jebel Ali Fire Under Control

DUBAI (Reuters) -Dubai's civil defence services have brought under control a fire that broke out at an oil waste disposal unit in the Jebel Ali...
Tags: Dubai, Reuters Dubai, Dubai Government Says Jebel Ali Fire Under Control


Major Gulf bourses gain in early trade; #Saudi falls | Reuters

Major Gulf bourses gain in early trade; Saudi falls | Reuters Most major stock markets in the Gulf rose in early trade on Monday with higher oil prices, while the Saudi index retreated, threatening to end a four-day winning streak.Oil prices hit their highest level in years as demand recovers from the COVID-19 pandemic, boosted by more custom from power generators turning away from expensive gas and coal to fuel oil and diesel.Saudi Arabia's benchmark index (.TASI) fell 0.4%, weighed down by a...
Tags: Travel, Saudi Arabia, United Arab Emirates, Dubai, Reuters, Adi, Tasi, Rupert Neil Bumfrey, Masraf Al Rayan, First Abu Dhabi Bank, Major Gulf, Emaar Properties EMAR DU, QIB, Qatar Islamic Bank QIB QISB QA, Aramex ARMX DU In Abu Dhabi


Beautyworld Middle East 2021: Dominique Moellhausen and Her New Perfumes

I met Dominique Moellhausen, the young perfumer and RD vice-president of the Moellhausen perfume company, at the Ritz Carlton DIFC in Dubai. There, she was participating in (or rather, starring in, surrounded by an all men crew) a short new film dedicated to a couple of her new fragrances - Musk Patchouli and Phantom. These two perfumes she created for the Saudi brand Laverne, which debuted at�... Read full article: Beautyworld Middle East 2021: Dominique Moellhausen and Her New Perfumes from ...
Tags: Fashion, Dubai, Fragrantica Perfumes, Beautyworld Middle East, Dominique Moellhausen, Moellhausen, Ritz Carlton DIFC, Musk Patchouli


#Saudi index hits multi-year peak as Gulf bourses end higher | Reuters

Saudi index hits multi-year peak as Gulf bourses end higher | Reuters Major stock markets in the Gulf ended higher on Sunday amid strong oil prices, with the Saudi index hitting a multi-year peak as the country eased coronavirus curbs.The kingdom is rolling back COVID-19 restrictions from Oct. 17 in response to a sharp drop in daily infections and a considerable development in vaccinations. read moreSaudi Arabia has also lifted social distancing measures and will allow full-capacity attend...
Tags: Travel, Saudi Arabia, Dubai, Mecca, Abu Dhabi, Medina, Gulf, Reuters, Reuters Major, Grand Mosque, IHC, Suhail Al Mazrouei, Tasi, Rupert Neil Bumfrey, Abu Dhabi Commercial Bank ADCB, QSI


Uber and its #Dubai Subsidiary Hit With Massive Tax Bills in #SaudiArabia - Bloomberg

Uber and its Dubai Subsidiary Hit With Massive Tax Bills in Saudi Arabia - Bloomberg Saudi Arabia has slapped several technology firms, including Uber Technologies Inc. and its Dubai-based subsidiary Careem, with tax bills worth tens of millions of dollars, according to people with knowledge the matter.Uber and Careem face a combined bill worth around $100 million, two of the people said. The claims are related to a dispute over how to calculate the value-added tax owed over the past few years...
Tags: Travel, Saudi Arabia, Dubai, Careem, Mohammed bin Salman, U K, Uber Technologies Inc, Customs Authority, Rupert Neil Bumfrey, SaudiArabia Bloomberg, Saudi Arabia Bloomberg Saudi Arabia


#Saudi leads major Gulf markets higher | Reuters

Major stock markets in the Gulf rose in early trade on Sunday amid strong oil prices, with the Saudi index outperforming the region as the country eased coronavirus curbs.The kingdom is rolling back COVID-19 restrictions from Oct. 17 in response to a sharp drop in daily infections and a considerable development in vaccinations. read moreThe authorities also cancelled curbs on fully vaccinated people at closed venues, restaurants and cinemas, and on transportation.Saudi Arabia's benchmark index (...
Tags: Travel, Saudi Arabia, Dubai, Abu Dhabi, Spa, Gulf, Reuters, Adi, IHC, Suhail Al Mazrouei, Jabal Omar, Tasi, Rupert Neil Bumfrey, Abu Dhabi Commercial Bank ADCB, Al Rajhi Bank, UAE Energy