Customers who have purchased property on mortgage in the UAE feel the industry has grown considerably in the five years since inception but still has a long way to go to meet international standards. Most of the respondents to a survey said a middle-income family cannot afford to buy a home in Dubai on mortgage …
Consolidation of the GCC stock markets is “inevitable”, the chief executive of the Dubai International Financial Centre (DIFC) said yesterday. “Globally that is where we are headed,” said Nasser Al Shaali. “We have seen some efforts going in this direction with a GCC bourse, an Arab bourse, even an Islamic bourse. They have yet to …
Lire la suite Consolidation of the GCC stock markets is “inevitable”
BAIKONUR, Kazakhstan – Billionaire software programmer Charles Simonyi is set to rocket into space Saturday in a flight to the International Space Station (ISS) that will make him the world’s fifth space tourist. The 58-year-old Simonyi, who was born in Hungary and made his fortune as a pioneer at US software giant Microsoft, will spend …
Lire la suite Dubai Microsoft pioneer prepares for blast-off
ISLAMABAD – The chief cleric of a radical mosque in Pakistan’s capital trumpeted plans on Friday to set up vigilante Islamic courts and exhorted followers to become suicide bombers if their Taleban-style movement was forcibly suppressed. “Our youths will shake their palaces with their suicide attacks,” Maulana Abdul Aziz warned the government in a fiery …
Lire la suite Suicide bomb threat rings out in Pakistan capital
DUBAI — In terms of governance and transparency, the Middle East « has come a long way but still has a way to go, especially in relation to international accounting rules, » says Shayne Nelson, Standard Chartered’s regional chief executive in the Gulf and Levant. Speaking to Khaleej Times, he emphasised the need for greater transparency « in …
Lire la suite Dubai : Call for greater transparency, tougher stock exchange rules
DUBAI — Leading UAE stock market indices made strong gains yesterday, the biggest in more than a month. The Dubai Financial Market (DFM) General Index advanced 2.5 per cent to 3,757,69 while the Abu Dhabi Securities Market (ADSM) Index jumped 2.1 per cent to 2.922.32. On the DFM, the banking sector performed strongly. The banks …
ABU DHABI — The President, His Highness Shaikh Khalifa bin Zayed Al Nahyan, in his capacity as the Ruler of Abu Dhabi, has issued a decree, setting up the Abu Dhabi Health Services Company (ADHSC) as a public joint stock company. The new company, which shall be known as ‘sihha,’ shall be an independent corporate …
Lire la suite Khalifa issues decree to set up ADHSC as public joint stock company
Dubai : The UAE government yesterday said it would begin tackling internet crime head on with the formation of a new task force. Cyber crimes have wrecked havoc in some countries in recent past, with a breakdown in IT infrastructure and resulting in loss of valuable data. « Instead of reacting to virus attacks or hackers, …
Dubai: Legislation crucial to the future of Dubai’s real estate sector is in its final stage of approval, say officials at Dubai Land Department. Eagerly-anticipated legislation concerning escrow accounts and a condominium law have passed the final draft stage and are awaiting official approval from the emirate’s rulers. It follows a lengthy period of consultation …
