Dubai

OAM signs deal with U Concept

OAM signs deal with U ConceptOmniyat Asset Management (OAM) has announced that it has inked a memorandum of understanding (MoU) with Dubai-based U Concept, a premier health and fitness service provider.

Under the deal, U Concept will provide unique lifestyle services to tenants of the Dh507 million One Business Bay, which will be delivered in the second quarter.

Gitanjali Gems forms JV company along with Dubai-based firm

Gitanjali Gems forms JV company along with Dubai-based firmGitanjali Gems, a leading manufacturer and exporter of diamonds, has informed that Gitanjali Lifestyle Ltd, the 100% wholly owned subsidiary of the Company, has decided to set up a joint venture Company in India in association with Damas LLC, Dubai for retail trading of all kinds of jewelleries and related accessories.

It should be noted that, Damas LLC, Dubai has already secured necessary approval from Foreign Investment Promotion Board for setting up the said joint venture in India.

Customers offered specials to 40 cities by Lufthansa

Customers offered specials to 40 cities by LufthansaIt has been learnt that special fares are being offered by Lufthansa to more than 40 interesting long-haul destinations.

Now passengers can book a round-trip flight from Dubai and Abu Dhabi to Europe for just Dh1,190.

Amsterdam, London, Paris, Copenhagen, Geneva, Prague, Rome, Venice, Vienna are also among the destinations provided under the special offer.  

Dubai former minister not found guilty of fraud

Dubai former minister not found guilty of fraudThursday saw a former Dubai Minister being declared innocent by an appeal court in the Gulf Arab emirate of Dubai of defrauding a Lebanese businesswoman, thus freeing him from a two-year sentence passed by a lower court.
 
Former minister Khalifa Bakhit al-Falasi and two managers at a technology company were freed from all charges by the court, said a ruling issued by the court.

As per the media reports, the three were sentenced to two years in jail in April for deceiving the businesswoman and taking over her late brother's stake in the firm.

Al-Maktoum takes measures to initiate more investments in Gulf emirate

Al-Maktoum takes measures to initiate more investments in Gulf emirateWith the aim to increase investments in the Gulf emirate, which global financial crisis hit adversely, taxes on some services have been frozen by Dubai's ruler, Sheikh Mohammad bin Rashed al-Maktoum. In a recent move, the fee for many operations has been cut by 20% to 30%.

flydubai teams up with Emirates Post

flydubai teams up with Emirates Postflydubai, Dubai's first budget airline, has announced that it has clinched a deal with Emirates Post.

Under the agreement terms, the office network of Emirates Post across the UAE will act as the carrier's selling agents, providing booking facilities, accepting payment for reservations made on-line and making or changing booking preferences.

Customers can book their travel with flydubai through its website (www.flydubai.com), its call centre (04 301 0800) or at their nearest Emirates Post.

Broad becomes highest-ranked England bowler

Stuart BroadDubai, May 27 : Stuart Broad has become England’s highest-ranked bowler in the Reliance Mobile ICC Player Rankings for ODI bowlers after a successful series against the West Indies which ended at Edgbaston on Tuesday.

Broad finished as the leading wicket-taker in the series with six wickets, including 4-46 in the second ODI at Bristol, and has been rewarded with a jump of four places. The
22-year-old fast bowler now sits alongside Pakistan’s Shahid Afridi in a career-best ninth position.

First Dubai flight to Beijing launched by Hainan

Hainan AirlineThe first direct flight has been launched by Hainan Airlines, which would connect Beijing to Dubai and would operate twice a week. GSA for the airline in the United Arab Emirates and the Gulf region would be Sharaf Travel.

Hainan Airline commenced operations on 2nd May 1993 in Hainan Province. The airline has a modern fleet of Boeing 737 and 767 aircrafts, as well as Airbus A330 and A340, apart from being the largest special economic zone in China.

As per the media reports, Hainan has expanded into seven additional domestic hubs at Beijing, Xi'an, Taiyuan, Urumqi, Guangzhou, Lanzhou and Dalian, from its original hub at Haikou.

Brit woman shopped for adultery by hubby in Dubai

Dubai is more competitive than Japan, Germany and France, says reportLondon, May 26 : A husband has landed his wife in an Arab prison with a yearlong sentence for cheating on him with another man.

Vincent tipped cops in Dubai about mum-of-two Sally Antia as she stepped out of five-star Radisson Dubai Deira Creek hotel with her lover in the early hours.

The British businesswoman, who has been married for 14 years and lived in Dubai for 12, was taken into custody and left facing deportation after confessing adultery in court.

Dubai sees new affordable airline Flydubai

Dubai sees new affordable airline Flydubai Dubai, the place where the world's tallest building, the Burj Dubai, is being built, might see a low-fare new-entrant airline setting up in its wealthy kingdom.

The name of the airline is flydubai. Though it does charge extras, but you can carry on one 10kg handbag free of charge.

The statement read that the carrier aimed at providing customers with a little less complex, a little less stressful, and a little less expensive travel.

UAE ex-minister says he’s innocent

UAE ex-minister says he’s innocent Yesterday at a hearing in Dubai, Mohammed bin Kharbash, a former finance minister of the United Arab Emirates, pleaded not guilty to charges of embezzlement.

In the month of April, Mr. Kharbash, former chairman of property developer Deyaar, was charged by the public prosecution. He was accused to have connection with an alleged embezzlement at Deyaar, the property unit of Dubai Islamic Bank.

Furthermore, a well known UAE local Zach Shahin has also been blamed for helping the former Deyaar chief executive to seize company money.

Dubai to strengthen social services

Dubai to strengthen social servicesThe Dubai Department of Economic Development (DED) and the UAE Ministry of Social Affairs have clinched a Memorandum of Understanding (MoU) with the aim to further consolidate foreign investment in the emirate region, especially in social services.

According the sources, the MoU is part of efforts to increase Dubai's economic development by helping procedures for investors and encouraging investment in social affairs.

Emirates Airline net profit down 72% in FY 2009

Emirates Airline net profit down 72% in FY 2009Emirates Airline, the Middle East's largest air-carrier, has announced that it has recorded a sharp 72% decline in its net profit, which stood at 1 billion dirhams ($406 million) for the financial year ended on March 31, 2009.

The company had clocked a profit of 5 billion dirhams ($1. 45 billion) in fiscal 2008.

The Group's revenues have witnessed handsome 10.4% growth at 46 billion dirhams ($12.6 billion) from 41 billion dirhams ($11.4 billion) last year.

Dubai World Central to start operations next year

Dubai World Central

As per the media reports, the June of the 2010 will witness UAE government's biggest urban development project, a high-tech city situated around world's largest airport starting operation.

On Monday, Sheikh Ahmed bin Saeed Al Maktoum informed via a statement that Dubai World Central (DWC), which is almost twice the size of Hong-Kong, will be under multi-phase development with 140 square kilometer developed area.

New development plans confirmed by MGM Mirage Hospitality, Pearl Dubai

New development plans confirmed by MGM Mirage Hospitality, Pearl DubaiTuesday witnessed MGM Mirage and Pearl Dubai announcing new plans to develop Bellagio, MGM Grand, and Skylofts hotels, and also branded residences at Dubai Pearl, the $4 billion (Dh15 billion) world-class, fully integrated luxury development in Dubai, United Arab Emirates.

As per media reports, the 250-room Bellagio hotel, 350-room MGM Grand hotel, and 30-suite Skylofts hotel would be owned and financed by Pearl Dubai, while MGM Mirage Hospitality will manage and provide technical services for the three new ventures.

Dubai government to commence new plans; says Al Shaibani

Dubai government to commence new plans; says Al ShaibaniRecently, Mohammed Al Shaibani, Director of Ruler's Court said that new plans would be implemented by Dubai Government, which will strengthen the country’s financial stability.

The government would also open new fields that promote economic development apart from continuing necessary measures to face the impact of international financial crisis and ease its effects on local economy.

RERA plans international expansion

RERA plans international expansionThe emirate's Real Estate Regulatory Authority (RERA) has revealed that the company envisages to go global and become an international real estate reference point with the acronym, Menares.

Menares stands for the Middle East and North Africa Real Estate Society and has already become part of several international property bodies.

Dubai loses gilded status for business-minded Iranians

IranTehran/Dubai - The hundreds of dhows - rough sea-going vessels in the traditional Arab style - lined up along the port in Dubai Creek are a testament to a very old, but still vital, trade route: Dubai to Iran.

In the early morning, sunburnt Iranian merchants can be seen piling the wooden ships high with sanctions-busting Western-made merchandise bound for the ports of Bushehr and Bandar Abbas.

After the Gulf's boom, what remains? By dpa correspondents

UAE refuses to host Asia Cup hockey tournament citing economic constraintsDubai - When, after a short recession in the US at the beginning of the decade, the price of oil began its upward climb, few could have predicted just how far it would go.

In 2008, a barrel was fetching just short of 150 dollars. Average prices for 2007 were not far short in real terms of the all-time high during the Pennsylvanian oil boom of the 1860s, or the period after the Iranian revolution of 1979.

Nakheel to concentrate on incomplete projects this year

Nakheel

UAE's Real Estate major Nakheel confirmed that this year, the company's main focus would be on completing projects that are already under construction.

The Dubai-based property developer said that it was optimistic that the company would come out from the global crisis as a strong and diversified organization.

It should be noted that just days after the company posted a 90 per cent full-year profit decline as a result of "impairment charges" worth AED4.8bn, including AED678m in contract termination costs, has the statement by the company come to scene.




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