As estimated by a UAE based food and beverage expert, the average monthly household spent in the UAE on dining out is Dh 1,200. This is a high amount compared to that to the rest of the world. According to...
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE in his capacity as the Ruler of Dubai, ordered paying Dh.26.37 million to Emiratis, whose taxicab number plates are operated by the Dubai...

Dh2 million worth of counterfeit bank notes were seized by the Dubai Customs as an African passenger flying to the UAE, apparently for trade activities, aroused suspicion. The suspected female passenger carried undeclared currency and hesitated at the inspection counter....

Over the next four years, more than 41,000 new hospital beds will be needed in Saudi Arabia to cope with the escalating demand from the fast growing population of the country. With more that $ 18 billion committed to...
The UAE- based group, Tharaa Holding has signed an agreement with the Polish government to redevelop the former military site in the eastern European country. Tharaa, through its development company Hadara, will develop the land owned by the Military...
The Doha Film Institute (DFI) has announced 25 new grants, as financial support to Arab movie makers, at the Cannes. Amid the changing political societies, DFI has called for more collaborative financial support from the Arab world to support...
The Dubai developer, Nakheel is restructuring $10.8 billion in debt; is now offering up to two months rent free in units in lower priced developments in a bid to attract tenants. The government owned company, is offering free periods...
Asian equities have dipped and the dollar rose to a six week high against the euro, today, with gains seen as new concerns of a possible euro zone debt restructuring; promoting market players to reduce risk. The euro fell as...
'The Dubai Airport Authority has been in discussions with the Dubai Police to tighten security system and increase safety of travel.', reports a senior official of the Dubai International Airport. The President of Dubai Civil Aviation, Shaikh Ahmad Bin Saeed...
In times of an economic slump, when sales plummet to an appalling low, business owners often tend to get discouraged and despondent. They try to find short-cuts to get themselves back in the running. But business experts say that...
As shown in a report by the Washington-based Institute for International Finance (IIF), inflation in the UAE is projected to be around 1.9 per cent this year from the 0.6 percent last year, on the higher global commodity prices...
A Palestinian investment firm has issued the territory's first corporate bonds in an effort to strengthen local economy. PADICO, a publicly traded company focused on investment in the Palestinian economy, issued 7,000 five year bonds, worth $ 70m. "We are...

MSCI World plans to upgrade the market status of UAE and Qatar but neglects Saudi Arabia. The index compiler is a stock market index of 1500 global stocks. MSCI is considered as a benchmark in stock market. MSCI index includes...

Saudi Arabia, the oil rich country, is expanding the state control of the economy by sharply boosting the public spending. This increased expenditure is reportedly stifling the private sector and obstructing diversification plans, according to a key bank in...
Infrastructure Leasing & Financial Services Limited (IL&FS) has opened its third international office and first in the region, at the Dubai International Financial Centre (DIFC) IL&FS will sponsor, develop and commercialize infrastructure projects and provide value added financial services, will...
Hewlett Packard Co slashed its 2011 earnings forecast as it went on a spending spree to revamp one of its troubled divisions. Meanwhile, long time competitor and foe Dell Inc has delivered a blowout profit, surprising many at the...
Middle East Communications (MECOM) Exhibition and Conference 2011, the leading Communications Technology and Solutions event, was officially opened by H.E Sultan Bin Saeed Al Mansoori, the UAE Minister of Economy, on 16th May, 2011. It was held at the...
Low-cost airline, Flydubai plans to recruit 600 pilots within the next four years with a view to keep pace with its growing fleet and its rapidly expanding route network, according to reports by this airline on Wednesday. The budget airlines,...
The New York attorney general (AG) has requested information and documents, in the recent weeks, from three major Wall Street banks. This is in regards to their mortgage securities operations during the credit boom, and indicating the existence of...
Strauss Kahn, the International Monetary Fund chief, has offered to resign following an alleged sexual assault of a hotel maid in New York. Kahn, 62, in his official statement says, that he has already informed the executive board of his...

A Dubai Holding unit is battling to reinstate an initial public offering of Tunisie Telecom, which it bought a US$2.25 billion (Dh8.26 billion) stake in the year 2006. The investment company, Emirates International Telecommunications (EIT), that holds 35 percent stake...
The Supreme Fiscal Committee has asked all government departments to reduce expenditure by 20 to 25 per cent in a bid to help the emirate achieve a budget surplus of Dh3-Dh3.5 billion until 2013, Ahmad Humaid Al Tayer, Member...
Forty, forty-five, and still rising! The mercury is soaring as UAE plunges into yet another blazing summer season. With the rising temperatures come a host of health complaints - sunburn, headaches and rashes among others. But summer doesn't have to...