Wednesday 24 September 2014
 
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UAE

UAE confirms air force took part in strikes on IS

The United Arab Emirates (UAE) air force took part in strikes on Islamic State targets overnight, the Gulf Arab country's official WAM news agency reported on Tuesday. The operation took place "in coordination wi

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UAE to spend $3bn on first alumina refinery

State-owned Emirates Global Aluminium plans to spend $3 billion to build the UAE's first alumina refinery in Abu Dhabi, chief executive Abdulla Kalban said on Tuesday. Feasibility studies have been completed and the refinery w

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UAE in no rush to change Opec oil target

The UAE is in no hurry to see Opec cut its oil output target this year despite the sharp drop of global crude prices in the last few months, senior UAE energy officials indicated.   Last week, Opec secretary-gene

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Dow to help reduce carbon emissions at Rio 2016

The Dow Chemical Company, with its regional headquarters in Dubai, UAE, has been chosen as the ‘Official Carbon Partner’ of the next Olympic Games, Rio 2016. Through this partnership, Dow, which is already the official

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UAE appoints new cbank governor

The United Arab Emirates' president has appointed Mubarak Rashid Al Mansouri as the new central bank governor for a four-year term, the state news agency Wam said, citing a presidential decree. Al Mansouri, the chief executive

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Property beats gold as preferred asset in UAE

Property is now a more popular investment asset class than gold for UAE residents, a report said, elaborating that property makes up 53 per cent of investment portfolios, compared with 43 per cent holding traditional asset gold. T

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MAG to spend $3bn on six of the best

MAG Property Development is to launch six upscale projects worth a total of $3 billion, five of which will be in Dubai, UAE, and one located overseas in the US. The real estate development arm of UAE’s Moafaq Al Gaddah Group

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New infrastructure projects in GCC to hit $86bn in 2014

The value of new infrastructure projects across the Gulf Cooperation Council (GCC) region is poised to hit $86 billion in 2014, up 77.8 per cent compared to last year, said a report. Saudi Arabia continues to dominate the region w

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UAE jobs set to grow, but living cost fears persist

While the UAE’s economy and job opportunities are expected to grow in the coming six months, residents are still concerned about the rising cost of living, a report said. About 24 per cent of respondents in the UAE consider

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Qatar, UAE top spots for infrastructure investment

Qatar and the UAE are among the top five attractive markets for infrastructure investment in the world, according to a new report. The second Arcadis Global Infrastructure Investment Index said the Middle East is the most dynamic

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