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Top Stories on Dubai Chronicle on May 20th
Shares of Aldar Properties and Sorouh Real Estate surged in heavy trading yesterday, by 12.9% and 11.7% respectively. This is close to their daily upward limit of 15%, which is higher than in Dubai where the limit is 10%. ...
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Wife of former Nakheel employee overwhelmed by his acquittal
DUBAI// A man accused of trying to pocket Dh44 million by fraudulently selling a piece of Nakheel's Dubai Waterfront project has today been acquitted - after spending more than four years under house arrest. Marcus Lee has been detained in Dubai since 2009. His wife Julie, who had to surrender her passport to secure her husbands' bail, spoke after the acquittal saying they were ...
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Dubai rallies to 4-year high
(MENAFN - Khaleej Times) Dubai's benchmark stock index rose to its highest close since October 2009, propelled by property and banking sectors to underscore the resounding resurgence in investor optimism.The DFM General Index advanced 2.5 per cent to 2,352.21 points on Sunday for a ninth day in its longest winning streak in more than two years while the Abu Dhabi stock index climbed 1.42 ...
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Emirates Islamic Financial Brokerage joins Nasdaq Dubai
(MENAFN - Arab News) Emirates Islamic Financial Brokerage (EIFB), a major Shariah-compliant broker in the UAE, has become a member of Nasdaq Dubai, the region's international exchange. EIFB will focus on opportunities for trading Shariah-compliant shares listed on Nasdaq Dubai, as well as other Shariah securities that become listed in due course. Jamal bin Ghalaita, chairman of EIFB, said: ...
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1 dead 24 injured as hot air balloon crashes
An official says a hot air balloon has crashed in central Turkey, killing one person and injuring 24 others on board. Hasan Unver, the mayor Nevsehir province told NTV television that the balloon was flying above volcanic cones of the Cappadocia region when it crashed on Monday. He said none of the injured passengers were in serious condition. There was no information on the ...
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Sharjah high-rise fire three cars damaged
A fire that broke out in a residential building near Jamal Abdul Naser Street in Sharjah in the early hours of Sunday has also damaged three cars. According to eye-witness accounts, the blaze that erupted on the seventh floor of the building, which was occupied by an Asian and two African women, was douzed before it proved fatal. However, three cars were severely damaged as burnt debrsi fell ...
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Car goes up in flames in Sharjah traffic at standstill
A car is reportedly ablaze on Sharjah Ring Road this [Monday] morning, with traffic coming to a complete standstill as civil defence is working to put out the ...
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Dubais DIFC appoints real estate chief
Schafer, who has more than 30 years of experience in the commercial property sector, will be responsible for running the onshore financial centre's real estate portfolio, which includes 1.6m sqft of office and retail ...
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Dubai Metro lifts more than 33m passengers in Q1
Dubai's Roads and Transport Agency (RTA) did not specify what kind of increase in usage the system had seen since the prior year, but said there had been a significant annual rise in passengers on both Red and Green ...
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Dubai Outsource Zone takes success story to Prague for European Shared Services and Outsourcing Week
Outsource Zone (DOZ) announced its sponsorship and participation in the 13th Annual Shared Services and Outsourcing Week (SSO Week), which is taking place 21-24 May 2013 at the Prague Congress Centre in ...
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2013 GCC interiors spend to increase by more than quarter to $9.2bn
projects spent $7.2bn on interiors and fit-outs in 2012 and expects spends to increase by more than a quarter (28%) to $9.2bn in 2013. The report included an analysis on the four pillars of the real estate sector - commercial, hospitality, residential and retail - and stated that that interior spends now account for 10 to 20% of total costs ...
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Dubai Metro transports 33.3 million commuters in first quarter of 2013
During the first quarter of 2013, Dubai Metro managed to achieve a significant increase in the number of its commuters compared to the same period last year; as the number of commuters of both Red and Green lines increased to around 33 million and 341 thousand and 95 since January throughout March 2013, this indicates the significance of the Metro to the whole society as the best used means of ...
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SPRET Retail to participate in Beauty World 2013
SPRET Retail is keen to be a part of the highly acclaimed exhibition - Beauty World 2013, and showcase it's unique portfolio of personal and skincare brands. Beauty World is an ideal platform where exhibitors and professionals connect, communicate and interact with each other and SPRET Retail is actively seeking partnerships with key distributors and retailers across the GCC ...
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Kindi enters into strategic partnership with MadVillage
Kindi, the company specialized in software development tools, signed a strategic partnership agreement with MadVillage, a pioneer in designing and developing games and social ...
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Australian man Marcus Lee who was held in Dubai is acquitted of fraud
United Arab Emirates An Australian business man held in Dubai for the past four years has been acquitted of fraud charges.Marcus Lee was accused of fraud involving a company owned by the emir of Dubai.In a statement, Mr Lee and his wife Julie Lee said they were overwhelmed at the finding and very grateful the court uncovered the truth.He had been detained in Dubai since 2009 and spent time in ...
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Volcanoes whip UAE keep top Asian 5 slot
RUGBY SCORE Gareth Holgate of the Philippine Volcanoes dives to score as a beaten United Arab Emirates defender slumps on the ground during the HSBC Asian 5 Nations Rugby match on Saturday at Rizal Memorial Stadium in Manila. The Philippines beat the UAE, 24-8, and kept its place in Asia's top five that now includes Japan, South Korea, Hong Kong and Sri Lanka. ...
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World Wrestling Entertainment Inc. Wwe Returns To Abu Dhabi – 4
May 19, 2013, London – WWE (NYSE:WWE) today announced that it will be returning to Abu Dhabi with three action-packed live events from Thursday, October 10 through Saturday, October 12, 2013 at the Zayed Sports City Tennis Stadium. Tickets go on sale tomorrow, May 20 and are available at ...
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UAE economy grows at fastest rate since 2006 – Gulf Times
Economic growth in the United Arab Emirates accelerated to 4.4% in inflation-adjusted terms in 2012, the fastest clip since 2006, as activity picked up across all sectors, its statistics office said ...
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Aldar Properties Sorouh Surge Most Since 2005 Abu Dhabi Mover
Aldar Properties PJSC (ALDAR) and Sorouh Real Estate PJSC, the Abu Dhabi companies set to merge next months, soared the most in almost eight years. Aldar surged 15 percent, the most since September 2005, to 1.95 dirhams as trading volume of the shares jumped to almost five times the three-month daily average. Sorouh, the ...
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Dubai hotel exterior to be covered in 27000 plants
The Novotel hotel in Dubai's Al Barsha is currently being covered in around 27,000 plants as part of a six storey 'Green Wall' being installed in the lower part of the building's ...
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Mental illness or just personality traits
A man in California prepares to clear out his mother's home of belongings after her death. She was a compulsive hoarder - such a person may be mentally ill or just eccentric. Sandy Huffaker / ...
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Account manager to knock-out MD at ‘big’ UAE fight night
Former British, Commonwealth and European Light-Middleweight and British and European Middleweight champion Herol 'Bomber' Graham was a special guest at Fight Night 9 in November 2012, seen here receiving a commemorative trophy from Transguard's Mike ...
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Etihad finalises deal for three airport services firms
The airline said in a statement that deal will "accelerate and consolidate the development of in-flight catering services, ground handling and cargo operations at Abu Dhabi International ...
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Emirates A380 wing repairs fall behind schedule
Work on wing modifications to Emirate Airlines' fleet of Airbus A380s is two months behind schedule due to the delay in the delivery of new replacement ...
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Dubai Abu Dhabi markets index continues upward trend
Abu Dhabi Securities Exchange Dubai's benchmark stock index rose to its highest closing level in almost four years while the Abu Dhabi market general index surged to its highest level since October 2008 on Sunday on the back of a rally in real estate and banking shares.Upbeat investors lapped up attractively valued stocks on the two bourses as downside risks abated on improved global risk ...
Dubai In-Depth
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Olympics may be Dubai's next goal
Dubai is famous for being ambitious, sometimes to its detriment, but mostly to its advantage. It was ambition that made it the city the way it is now. For some, the recent announcement of a possible Olympic bid may seem overly optimistic, but what are Dubai’s chances realistically?
Dubai does nothing half-heartedly. Fifteen years ago, Dubai was just another city in the Gulf, there was nothing particularly special about it, apart from the fact that, for western workers, it was an attractive location because of the lack of income tax, but this it had in common with many other GCC cities. Read more
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