Interesting News & Facts

  • Increased lending activity improves profitability of UAE banks

       November 30, 2017     
    Dubai: Leading UAE banks have reported robust improvement in performance with overall profitability and return on equity (RoE) higher in the third quarter of 2017, according to an analysis of key performance metrics by global professional services firm Alvarez & Marsal (A & M). Almost all of the metrics applied by A & M in their analysis have risen quarter on quarter, sugges
  • Abu Dhabi to host International Festival of Falconry 2017

       November 30, 2017     
    Over 700 falconers and experts from more than 90 countries across the world will descend on Abu Dhabi on December 4 for the 4th edition of the International Festival of Falconry (IFF2017). Held under the patronage of the President, His Highness Sheikh Khalifa bin Zayed Al Nahyan, the festival is by far the largest of its kind worldwide in the field of falconry and its heritage.
  • UAE's Mars City to be ready in 30 months: Official

       November 29, 2017     
    The UAE's Mars project Hope is on track while the work on the Dh500-million Mars City in Dubai has started and will be completed in 30-month time, said a senior official of the UAE Space Agency. Mohammed Nasser Al Ahbabi, director-general, UAE Space Agency, said budget and area has been allocated for the project and will be completed in two-and-a-half years. The Mars City is the
  • Mohammad Bin Rashid approves VAT rules: read full text

       November 29, 2017     
    Dubai: His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has approved the executive regulations of Federal Law No.8 of 2017 on Value Added Tax (VAT). The bylaws govern the implementation of VAT, which will come into
  • UAE's Islamic economy ecosystem thrives

       November 28, 2017     
    The UAE, the world's number two in the Global Islamic Economy Indicator, has been ranked first among 10 countries in three key sector indicators, further reinforcing its success in pioneering an Islamic economy ecosystem. The UAE leads in sectors, including modest fashion, halal media and recreation, and halal pharmaceuticals and cosmetics, according to the 'State of the Global Islamic
  • First dog park in UAE to open in February

       November 28, 2017     
    Dubai: The first outdoor dog park in the UAE will open its doors to residents and their furry friends on February 1 next year in Ras Al Khaimah. Built by the government of Ras Al Khaimah, the park will be located in Al Jazeera Al Hamra area at the RAK Animal welfare Centre (RAKAWC). Run by RAKAWC, the ‘Pawsome Park,’ invites all dog-loving people of the UAE to enjoy a range
  • India on track to become world's third largest economy

       November 27, 2017     
    India will emerge as the world's third largest economy, surpassing Japan by 2028, on the back of rising savings rates, financial maturity and increasing incomes, Bank of America Merrill Lynch said. "We believe India stands out among the large emerging economies as having the best prospects for strong growth over the next decade. In 2028, we estimate it will surpass Japan in nominal GDP
  • Holiday for National Day declared, 5 places to visit

       November 27, 2017     
    The UAE today announced holidays for private sector to mark the 46th National Day and Martyrs' Day. According to the Ministry of Human Resources and Emiratisation, the private sector will enjoy a three-day break starting from November 30 to December 2. Work will resume on December 3, 2017. UAE National Day: 5 places to spot fireworks, festivities in Dubai The public sector in
  • Abu Dhabi hotel rates zoom during F1 week

       November 26, 2017     
    Dubai: There is a price to be paid for watching the F1 from a ringside seat. Abu Dhabi's average daily hotel rates are higher by a staggering 265 per cent during the Grand Prix week compared to the rest of the year. In this, Abu Dhabi hotels are placed second among cities hosting the annual F1 races. The emirate's hotels are behind Monaco, where rates shoot up 499 per cent during race week, and
  • Sheikh Mohammed receives Order of 'Mother of the Nation'

       November 26, 2017     
    His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai received the 'Order of the Mother of the Nation' from His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Wednesday. The Order was awarded to Sheikh Mohammed in recognition of his humanitarian

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