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 »
With Dubai’s property prices in cool-off mode, prospective buyers are in no hurry to seal the deal in the secondary market. The average time taken these days now average anywhere up to 5 to 6 months from the time an investor decides to buy to actually signing the papers for the purchase. The transaction periods
Dubai Property Deals Taking Longer to Complete Read More »
Dubai Lands Department has rubbished rumours of up to 8% hike from 4%, if the earlier deadline of June 2015 was not meet with by property owners. It confirmed in a statement that real estate registration fees, currently set at 4%, will not be increased in the near future, and that it does not plan
Dubai Property Registration/Transfer Deadline Extended to October Read More »
Due to the robust demand from markets in Europe and Asia,the number of new enterprises opening in the UAE through Dubai Multi Commodities Centre (DMCC), the emirate’s flagship free zone, increased by 19% during the first half of the year. Dubai’s strong commercial attraction to international investors has contributed to the high turnout of new
New Businesses at DMCC Increased By 19% Read More »
Plans are underway to add the world’s first office building made using three-dimensional printer technology to its collection of eye-catching buildings. Mohammed Al-Gergawi, the United Arab Emirates’ minister of Cabinet affairs, said the project is part of a broader effort by the seven-state federation to embrace cutting-edge technology and make it a global hub for
Dubai Plans the World’s First 3D Printed Office Building Read More »
Members of the World Health Organization have agreed to implement a global action plan on “antimicrobial resistance” (AMR),” and have called upon the United Nations to convene a high-level meeting of political leaders in 2016. Current antibiotics are becoming increasingly ineffective, not only at fighting common illnesses like pneumonia and urinary tract infections, but also
An Antibiotics-Free World Read More »
Greece has submitted a new bundle of proposals just in time to the institutions in charge of its bailout, with the hope of securing the cash it desperately needs by next week. There’s another call planned to discuss Greece’s banking sector towards the limit for Emergency Liquidity Assistance as money has been leaving banks so
Athens Gets its Last Glimmer of Hope Greece Read More »
The agreement means all US citizens in the Gulf state will now have the details of all of their finances held in the UAE provided to the American government, potentially making them liable for additional tax. The US law requires foreign financial institutions to provide annual reports on account information of customers who are US
UAE and US Sign Agreement to Provide Tax Information Read More »
A recently introduced law in the UAE makes it a criminal offence to swear or use abusive language in text messages. Anyone convicted of the offence could face a fine of up to $68,000 (AED250,000) and a prison sentence. Expats will also be deported from the UAE under the cybercrime law. The new law came
UAE Pushes for US$68,000 Fine for Swearing on Phone Messages Read More »
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