Dubai

Arabtec Construction wins order worth AED 687 million from Ishraqah

Arabtec Construction wins order worth AED 687 million from IshraqahIshraqah for Development, a leading Dubai-based property developer, has awarded an order worth AED 687 million to Arabtec Construction for the Onyx Towers project in Dubai.

Onyx Towers is a multi-purpose freehold development located on Sheikh Zayed Road, next to Emaar Business Park.

The upcoming project will be built on a 22,000 square meter plot of land with a total built-up area of 202,800 square meters.

World''s tallest building seems to be recession-proof too

World''s tallest building seems to be recession-proof tooDubai, Aug. 25 : Despite the worst recession in modern history, the world''s tallest tower, Burj Dubai, continues to retain its reputation as one of the most expensive addresses in Dubai, according to Middle East property experts.

Apartment prices in the tower are stabilising, experts say, with a two-bedroom apartment on the 57th floor available for one million pounds, Sky News reports.

In contrast, the market is showing less signs of recovery elsewhere in the Emirate.

L&T bags order worth Rs 1044 crore

L&T bags order worth Rs 1044 croreLarsen & Toubro (L&T) has informed that it has secured various orders worth Rs 1,044 crore for electrical projects in Gulf countries.

The company has bagged orders for the construction of electrical substations from Qatar Petroleum, Dubai Electricity & Water Authority (DEWA), Oman Electricity & Transmission Company (OETC) and Qatar's General Electricity and Water Corporation (KAHRAMAA).

L&T has received first order worth Rs 737 crore from Qatar Petroleum for the construction of four substations, the work for which needs to be completed in 32 months.

Swann enters top 10 Reliance Test bowlers list

Swann enters top 10 Reliance Test bowlers listDubai, Aug. 24 : England off-spinner Graeme Swann has jumped no fewer than 17 places and into the top 10 in the Reliance Mobile ICC Player Rankings for Test bowlers for the first time in his career.

The 30-year-old took eight wickets in the Oval Test match underlying his position as England’s top slow bowler and moving to 10th in the latest rankings.

Another England bowler to make an upward move is man of the match Stuart Broad, whose inspired five-wicket haul in the first innings set up the victory for the home team as Australia collapsed to 160 all out.

ICC confirms Oz team management approach to ACSU

ICC confirms Oz team management approach to ACSUDubai, Aug. 19 : The International Cricket Council (ICC) on Wednesday confirmed that its Anti-Corruption and Security Unit (ACSU) had received a report from the Australia team management concerning an approach to one of its players by a man suspected of links to illegal bookmaking.

Pollock says ODIs still the best limited-overs format

Dubai, Aug. 17 : Ex-South Africa captain Shaun Pollock believes one-day international cricket is still the best limited-overs form of the game.

Looking ahead to next month's ICC Champions Trophy to be played at The Wanderers and Centurion, Pollock said: "Having played a lot (of 50-over cricket), maybe I'm a bit more of a sucker when it comes to appreciating the game.

"The fast 20-over game has caught the imagination of many but if you get off to a bad start then you can cost yourself the game.

"There is a lot of skill involved in the 50-over game and it's over a much longer period, so that allows teams to have a bit of a mishap and recover from it and you've got time to implement tactics.

Sri Lanka can move to second place in Reliance Mobile ICC Test Championship

Sri Lanka can move to second place in Reliance Mobile ICC Test ChampionshipDubai, Aug. 17 : If Sri Lanka wins its series against the Black Caps 2-0 it has the opportunity to go second in the Reliance Mobile Test Championship. This can only happen if Australia loses the final Ashes Test at the Oval.

Eight-storey building collapses in Dubai: report

Eight-storey building collapses in Dubai: report Dubai - An eight-storey building under construction in central Dubai collapsed on Sunday, local media reported.

It was not initially clear if there were any victims, although a number of nearby parked cars were destroyed.

The building, situated in Deira neighbourhood, collapsed at about 4pm local time (1200 GMT), Khaleej times newspaper reported.

One witnesses, a security officer, said no workers were believed to be on-site at the time. However, he was not able to confirm whether anybody had been hurt in the building collapse.

Michael Clarke earns career-best ranking

Michael Clarke earns career-best rankingDubai, Aug 10 : Australia’s vice-captain Michael Clarke has assumed second position in the ICC Player Rankings for Test batsmen after his impressive performance with the bat during his team’s easy victory over England in the fourth Ashes Test at Headingley.

The 28-year-old New South Welshman is now sitting just seven ratings points beneath Sri Lanka captain Kumar Sangakkara and has pushed India’s Gautam Gambhir into third place after his 93 in Leeds helped his side to an innings victory that levels the closely fought series 1-1 with one match to play.

Dubai Q2 house prices fall 9%, but decline rate slows

Dubai Q2 house prices fall 9%, but decline rate slows House prices in Dubai have witnessed a slump of 9% in the second quarter due to property downturn amid the global financial crisis.

Prices in the Gulf emirate had declined 41% from the fourth quarter to the first quarter.

The sources said that market transactions in the second quarter grew by 50% over the first quarter due to increased financing options for buyers, mainly for completed or nearly completed properties.

DAE delivers first B737-800 to Garuda

DAE delivers first B737-800 to GarudaDAE Capital, the aircraft leasing and financial business subsidiary of Dubai Aerospace Enterprise (DAE), has announced that it has delivered the first Boeing 737-800 next-generation aircraft to Indonesia's flag carrier Garuda.

DAE authorities said that the delivery is one of eight new B737-800 aircraft to be delivered to Garuda between June 2009 and April 2010.

England''s Sydney Barnes inducted into ICC Cricket Hall of Fame

England''s Sydney Barnes inducted into ICC Cricket Hall of FameDubai, July 31 : Legendary England bowler Sydney Barnes has been inducted into the ICC Cricket Hall of Fame.

On day one of the third Ashes Test at Edgbaston, Barnes’s granddaughter Penelope Bailey received his commemorative cap from ICC President David Morgan for his induction into the Hall of Fame*, a joint venture between the International Cricket Council (ICC) and the Federation of International Cricketers’ Associations (FICA).

Mashreqbank's Q2 net profit falls 38 per cent

Mashreqbank's Q2 net profit falls 38 per centDubai-based Mashreqbank's net profit has plunged by 38% to Dh 435 million in the second quarter of 2009 from Dh 706.86 million for the same period in 2008.

The sources said that the lender booked provisions of Dh319 million in the latest three month period. Total provisions stood at Dh551.4 million in the first half of 2009, compared with Dh 200.3 million in the same period previous year.

Emirates to increase Beirut flights

Emirates to increase Beirut flightsEmirates has decided to roll out nine additional flights to Beirut, Lebanon, in August in order to keep up with customer demand during the busy summer season.

The sources said that the additional flights will give the Dubai to Beirut service an important boost.

At present, Emirates operates 17 weekly flights between Dubai and Beirut. During August the carrier will add 18 additional flights between Dubai and Beirut.

The sources said that demand for travel to Beirut from Dubai on the Emirates network is usually very high during summer.  

ICC, PCB chiefs report good progress on 2011 World Cup dispute talks

David MorganDubai, July 28 : International Cricket Council (ICC) President David Morgan and Pakistan Cricket Board (PCB) Chairman Ijaz Butt reported "good progress" in a meeting to resolve the ongoing dispute between the two sides over the ICC Cricket World Cup 2011.

The two men met at the ICC's headquarters in Dubai on Tuesday, part of an ongoing process to resolve the disagreement over the location of the 14 matches originally scheduled to be played in Pakistan, as well as the venue for the tournament secretariat, which was set to be in Lahore.

Empire Aviation plans to grow

Empire Aviation plans to grow Dubai-based Empire Aviation Group (EAG), the general aviation company, has decided to raise it fleet this year. The sources said that the company is expecting the fleet to grow to 15 aircraft by the end of 2009, as the new and pre-owned business jet sales pipeline remains healthy.

Recently, EAG added a Gulfstream G450 intercontinental business jet to its fleet. The aircraft, owned by a company in the Middle East, will join EAG's mixed fleet of 12 business jets. It can link Dubai with business centres in Europe and the Far East.

Sangakkara returns to top of Test ranking

Sangakkara returns to top of Test rankingDubai, July 25 : Sri Lanka captain Kumar Sangakkara has toppled Gautam Gambhir from number-one Test batsman spot.

Sangakkara has returned to the top of the Reliance Mobile ICC Player Rankings for Test batsmen following his match-saving performance in the third Test against Pakistan in Colombo.

Ducab joins Emirates GBC

Ducab joins Emirates GBC Ducab, a leading maker of power cables in the Middle East, has announced that it has inked an agreement with Emirates Green Building Council to become a corporate member.

As per the terms of pact, Ducab will work with Emirates GBC to promote sustainable environmental development in the UAE.

Ducab stated in a communiqué that it will join forces with Emirates GBC to organise workshops to highlight the importance of sustainable environmental development, as well as promote environmentally friendly approaches.

UNB posts Dh 575 million first half profit

UNB posts Dh 575 million first half profitUnion National Bank (UNB), one of the leading domestic banks in the United Arab Emirates, has announced that it has recorded a profit of Dh575 million for the first half of 2009, with a dip of 24% from last year's figures for the same period.

UNB's bank loans and advances surged by 4.7%, and deposits grew by 7.3 per cent.

The lender's operating income figure during the latest period stood at Dh1.01 billion - a slight decrease of three per cent from the first half of fiscal 2008.

DSI subsidiary bags two Dubai contracts worth Dh500 million

Gulf Technical Construction Company Gulf Technical Construction Company (GTCC), the civil contracting arm of Drake & Scull International (DSI), has announced that it has secured two contracts worth about Dh500 million in Dubai.

The sources close to the company said that the work on the projects is expected to commence within the coming few months.




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