The benchmark size AT1 notes, which are perpetual in nature, can first be redeemed by DIB in May 2026 DUBAI - Dubai Islamic Bank, the United Arab Emirates' largest Islamic lender, on Thursday sold $1 billion in Additional Tier 1 sukuk, or Islamic bonds, at 4.625%, a document from one...

Hussain Sajwani is optimistic that the mega event will reap positive rewards for the real estate industry Dubai-based luxury real-estate developer Damac is hoping that Expo 2020, which will be held next year, will help reverse the dip in the market caused by the COVID-19 global...

Pace of decline in Dubai's residential capital values slows down: ValuStrat Despite a broadly positive reading, MENA purchasing manager’s index (PMI) remain subdued against the backdrop of a resurgence of COVID-19 infections across the globe and weaker oil prices. Notwithstanding...

The developer reported property sales of $1.182bln in the nine-month period Emaar Development has completed more than 2,500 residential units in 2020 across prime locations and over 28,000 residences are currently under development in the UAE, the leading developer of residential and...

The move reflects the creditworthiness of the federal government entities and their vibrant resilience to draw plans necessary for sustainable growth ABU DHABI - Fitch Ratings Inc., the US credit rating agency, has rated the federal government of the UAE at -AA with a Stable Outlook....

All six Gulf Arab states agreed to introduce 5% VAT in 2018 DUBAI- The United Arab Emirates has no plan to increase value-added tax (VAT) to more than the current 5%, the ministry of finance said on Tuesday. All six Gulf Arab states agreed to introduce 5% VAT in 2018 after a slump...

Outlook for the remainder of the year remains positive as footfall gradually normalises in the properties Emaar Malls, majority-owned by Emaar Properties, on Tuesday reported net profits of Dh586 million for the period ending 30 September 2020 as compared to Dh1.73 billion for the same...

COVID-19 caused event to be postponed seven days before first test event in March Expo 2020 Dubai was just days away from its first test event when the entire event had to be postponed due to the global spread of COVID-19. Clive Stephens, director of operations, told the Leisure,...

The third quarter 2020 witnessed partial resumption of scheduled flights Air Arabia announced on Tuesday a net loss of Dh44 million for the third quarter ending September 30 as a direct result of the continued impact of the pandemic on airline operations. The low cost carrier’s...

Virgin Hyperloop made history on Monday as the first passengers successfully travelled in a Hyperloop pod. Popularly known as Hyperloop Dubai or the Virgin Hyperloop One, this multi-billion dollar project will reduce travel time for Dubai-Abu Dhabi commuters from an hour or so to 12...