The ambitious target set by Dubai to boost the share of renewable energy mix to seven per cent by 2020 is getting closer to reality with the state utility announcing the financial close for the second phase of the Mohammed Bin Rashid Al Maktoum Solar Park. The Dh30 billion Solar Park, one of the largest […]
Dubai’s Solar Park Closer to Reality Read More »
International credit ratings agency Capital Intelligence, or CI, has affirmed the UAE’s long-term foreign and local currency sovereign ratings of AA- and its short-foreign and local currency sovereign ratings of A1+ after taking into account key economic and financial indicators. The outlook for the rating is stable, meaning it is likely to remain unchanged over
CI Affirms UAE Ratings: Outlook Stable Read More »
The long-awaited law on financial regulation and bankruptcy, which is widely hoped to have a far-reaching positive impact on the UAE’s business environment, is getting closer to reality with the Cabinet approving a draft proposal. The draft of the landmark legislation that seeks to decriminalize bounced cheques and help bail out businesses facing financial troubles
UAE Cabinet Okays Draft Law on Bankruptcy Read More »
The UAE and Saudi Arabia are among the world’s top 10 countries forecast to experience the fastest M&A (merger and acquisition) and IPO growth until 2020, reveals a new forecast by global law firm Baker & McKenzie. “Strong M&A activity in the UAE in the first half of 2015 is expected to result in a
UAE – Top 10 in Merger and Acquisition Growth Read More »
After a period of significant growth in Dubai property prices across the board from 2013 to mid-2014, there has been a softening in demand in the past 6 to 9 months. The rift between sellers and buyers’ expectations widened in the last quarter of 2014. During recent months, it has been observed that the compromise
Dubai Sees Slow Rise in Transactions Read More »
Greek Prime Minister Alexis Tsipras is expected to present new proposals at a Eurozone emergency summit on his country’s growing debt crisis. The plan is to include a demand for the debt to be cut by up to 30%, after voters rejected the terms of an international bailout. While Greece’s banks are to still stay
Tsipras to Present New Plan at Eurozone Summit Read More »
Hungary’s parliament has passed new legislation tightening asylum rules and backed plans to erect a border fence to keep out migrants. The new law which was passed easily, allows the detention of migrants in temporary camps, speeding up of the asylum application review process and limiting the possibility for appeal. In practice this means that
Hungary MPs Approves Border Fence and Anti-migrant Law Read More »
Iran is negotiating with the US and five other world powers to seal an agreement on the disputed nuclear program. All parties are working hard. The US is prepared to walk away if there isn’t a deal and there is absolute intransigence and unwillingness to move on the things that are important. P5+1 group –
Nuclear Deal With Iran Possible This Week Read More »
Greece woke up to an uncertain future on Monday after having squarely rejected the terms of new financial aid for their cash-strapped country. The previous night, thousands had rejoiced at the outcome of the referendum that they said had slapped down the architects of a 5 year austerity drive that has ravaged the economy of
Fallout of the Greek Referendum Decision Read More »
Dubai shares fell, joining a global equity sell-off as investors speculated that Greece may leave the euro zone after an austerity bailout deal between the country and its creditors was overwhelmingly rejected in a countrywide referendum. The Dubai Financial Market General Index dropped 1.2 percent and stock screens across markets in Asia were soaked in
Dubai Joins Global Market Route After Greece Voters Say NO Read More »
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