August 2021 — Topical news of the United Arab Emirates

August 28, 2021 no comments 108
Both villas and apartments see spike in rates Rents in mid and high-end areas in Dubai are on the rise due to limited inventory, higher demand from high net worth individuals (HNWIs) and residents’ preference for larger spaces. Though most of the rise has been witnessed in the...

August 27, 2021 no comments 138
Gross credit up 0.9% quarter on quarter, but still down 1.2% compared to last year Personal borrowings in the UAE are inching up after slowing down last year, when unemployment numbers were high due to the coronavirus pandemic. The amount of loans extended to residents hit 336.5...

August 27, 2021 no comments 105
An American national was announced as the new $1 million winner in the Dubai Duty Free Millennium Millionaire promotion at the draw held in Concourse D at Dubai International Airport. Michael Carfagno became a dollar millionaire when his ticket number 0195 in Millennium Millionaire...

August 27, 2021 no comments 162
Loan agreement includes gender diversity target for women Dubai-based shopping mall operator Majid Al Futtaim (MAF) has secured its first sustainability-linked loan (SLL) of $1.5 billion dirhams. The five-year financing, which is structured as a revolving credit facility, is “the...

August 26, 2021 no comments 96
The Ministry of Health and Prevention (MoHAP) announced 983 new coronavirus cases, bringing the total number of recorded cases in the UAE to 712,411. The Ministry stressed in a statement that its aim to continue expanding the scope of testing nationwide to facilitate the early...

August 26, 2021 no comments 80
His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Wednesday met His Highness Sheikh Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, in Abu Dhabi to discuss a number...

August 26, 2021 no comments 100
In accordance with the directives issued by the UAE Emergency, Crisis and Disaster Management, the Department of Education and Knowledge in Abu Dhabi announced the requirements for testing the Covid-19 virus to ensure the safe return to private schools and Charter School students with the...

August 26, 2021 no comments 106
L&A rose 1.9% after declining for three consecutive quarters: Alvarez & Marsal The UAE banking sector’s performance improved in the second quarter of 2021 with the top ten lenders showing a healthy rebound in profitability and balance sheet metrics. Return on Equity (RoE)...

August 25, 2021 no comments 113
Ain Dubai is the latest addition to the extensive Dubai Holding entertainment portfolio and plays a strategic role in supporting Dubai’s long-term vision DUBAI - It’s the moment the world has been waiting for – Dubai Holding confirmed today that, Ain Dubai, the ultimate celebration...

August 25, 2021 no comments 88
Airline recovers close to 90% of pre-pandemic network Emirates is scaling up operations across Europe before the start of the winter season due to an “upsurge” in demand following the easing of travel restrictions. The UAE-based carrier intends to restart flights, as well as...

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