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Dubai jails Australian businessman Matthew Joyce for10 years issues $25 million fine
AUSTRALIAN businessman Matthew Joyce has been jailed for 10 years and fined $25 million by a Dubai court for fraud stemming from a collapsed land deal. But the court has cleared fellow Melbourne man Marcus Lee of wrongdoing, paving the way for him to return to Australia after four years trapped in the Gulf state. The men were arrested in January 2009 over fraud allegations brought by Gold Coast ...
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Givori luxury phones teams up with Damas Jewellery
Luxury smartphone accessorizer Givori launched its most opulent, sensual and anticipated product yet. The company also announced a new partnership agreement with Damas Jewellery to sell products at select Damas Les Exclusives boutiques across the GCC ...
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Abu Dhabi International Airport the worlds first airport to launch GoSleep sleeping pods
Abu Dhabi Airports Company (ADAC) announced an exclusive "world first" with the introduction of the 'GoSleep' sleeping pods at Abu Dhabi International Airport ...
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Al Sufouh Tram in Dubai floored by Italian brand Nesite
The Al Sufouh Tram system was designed to be an integral part of the Dubai transport network, linking the Dubai Metro and the Palm Monorail and running along Al Sufouh Road and Jumeirah Beach Road from Mall of the Emirates at one end to the Dubai Marina at the other ...
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Italian Food Masters brings Panettone G. Cova and C. to United Arab Emirates
Panettoni G. Cova and C., one of Italy's most prestigious food confectionary brands has tied up with Italian Food Masters of Dubai which will distribute their products throughout the UAE and GCC ...
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Dubai lends helping hand in supporting youth
The Dubai Chamber of Commerce and Industry's ENGAGE Dubai initiative, managed by its Centre for Responsible Business, spearheaded the Give and Gain Day Dubai on May ...
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Emirates NBD unveils loan education campaign
Emirates NBD has launched a unique new personal loan education campaign to advise UAE residents to borrow responsibly and within their repayment capacity. This new initiative is in line with the Group's reputation of being a financial institution that cares for its customers, according to a press statement. The initiative will be supported by a sustained media campaign that will advise the ...
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President Khalifa approves India-UAE prisoner transfer deal
President Sheikh Khalifa bin Zayed Al Nahyan . Sheikh Kalifa's federal decree endorses the Transfer of Sentenced Prisoners agreement signed between India and the UAE in New Delhi on November 23, 2011, according to a statement from the media office. "The agreement comes from the desire of the UAE Government and the Government of the Republic of India to facilitate the social ...
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Dh3bn makeover planned for Dubai hospital
Sheikh Mohammed bin Rashid , the Vice President and Ruler of Dubai, has viewed designs of a proposal to rebuild Rashid Hospital at a meeting with Essa Al Maidoor, Dubai Health Authority's director general. The meeting showcased the authority's 2013-2015 healthcare strategy, reported the state news agency Wam. The proposal stated the Dh3 billion rebuild would have capacity for 900 ...
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Aussie cleared of wrongdoing in Dubai
An Australian businessman who has languished in detention in Dubai for more than four years has been cleared of fraud charges.Lawyers for Marcus Lee have confirmed he was acquitted by the Dubai Criminal Court on Monday.But there are reports that fellow Australian businessman Matthew Joyce and his friend Angus Reed have been jailed for ten years. Confirmation on their fate is being sought from ...
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Dubai transport authority to launch eWallet next summer
Dubai's Roads and Transport Authority (RTA) will launch an eWallet service to ensure efficient online transactions for vehicle registration, fines and other payments, it was announced ...
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ADNEC to attract recognised MICE events at IMEX 2013 in Frankfurt
The award-winning trade show that will run from the 21st - 23rd May in Messe Frankfurt, Germany is committed to encouraging innovation in the meetings, incentives, conferences and exhibitions (MICE) sector. ADNEC's participation forms part of its on-going strategy to position Abu Dhabi as a premier international meetings destination by attracting the world's leading meetings, ...
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Emirates for Universal Tyres appoints new General Manager
The official UAE distributor for Continental Tyres, Emirates for Universal Tyres (EUT) has announced the appointment of Jonathan Tait as its new General Manager. As head of the company, Tait's primary focus is to raise the profile of the Continental brand across the Emirates and to implement several new EUT ...
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$30m Jafza-DP World infrastructure project in the Free Zone on track
The initiative launched in September 2012 is scheduled to finish and become fully functional in the first quarter of 2014. The project on completion will make the traffic flow and the connectivity to and from the Free Zone absolutely smooth and seamless.The new Gate 4 will put in place 8-lane entry and 8-lane exit to facilitate smooth passage. The Gate 4 at present provides only 3-lane entry and ...
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Should you buy a house in UAE
Souqalmal.com . Rents are going up and tenants are being forced to negotiate hard to stay in their homes another year. So should they buy instead? We find ...
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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 ...
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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