Dubai Municipality calls for stricter penalties for people and companies behind the offence Dubai: Stricter penalties including a fine of Dh10,000 and immediate deportation have been proposed to counter the menace of massage card distribution in Dubai, a senior Dubai Municipality...

Union Properties (UP), one of the leading property investment developers in the UAE, has taken provisions of Dh2.8 billion ($762 million), resulting in a second quarter net loss of Dh2.3 billion ($626.19 million). Following a thorough accounting review and in the long-term interests of the...

Dubai-based developer Union Properties on Tuesday posted a loss of more than 2.2 billion UAE dirhams ($610 million) for the three months to June 30, compared with a profit of 71.7 million dirhams for the same period last year, as it reported a massive writedown in the value of its investment...

The German airline Air Berlin has declared the beginning of the procedure of bankruptcy. About it говоритсяв the message of concern. As it is noted, the company will continue to perform regular flights, and the government of Germany will grant the loan in €150 million for the restructuring...

Sources said the final figure for the planned redundancies could be more than 200 Dubai-based Noor Bank has laid off several dozen employees, banking sources told Reuters on Tuesday, the latest lender to adjust to more subdued growth levels in the local financial services sector....

Tenants return to their apartments to see ‘welcome BACK’ notices on doors by Civil Defence team Dubai: Residents of Torch tower received a surprise gift on Monday when Dubai firefighters affixed “welcome back” notes on their apartment doors after ablaze enveloped their building earlier...

The two sides will hire a consultancy to conduct a feasibility study Dubai Electricity and Water Authority (DEWA) and Abu Dhabi Water and Electricity Authority (ADWEA) have announced a memorandum of understanding with the aim of connecting their water networks. The deal between the...

Dubai's Meraas Holding, a real estate developer owned by the government, priced on Monday a $200 million tap of the $400 million sukuk which it sold privately at the end of May, a document showed. Under a bond tap, an existing transaction is reopened for subscription, using the same...

Master developer Nakheel is assessing five proposals, with bids starting at under Dh900 million ($245 million), for the construction of Dragon Towers, its twin-building residential complex at the rapidly-expanding Dragon City community in Dubai, UAE. Dragon Towers comprises 1,140 one- and...

Damac Properties Dubai Company, a leading property developer in the Middle East, has announced a total revenue of Dh3.5 billion ($953 million) and a net profit of Dh1.6 billion ($435.61 million) for the first half of this year. As of June 30, 2017, Damac’s booked sales for H1 stood at Dh4...