In February, a survey conducted by Standard and Poor’s showed that rents declined 10%-15% in Dubai and will not recover before 2020. The real estate sector in the UAE is facing a stagnation, as property prices drop while investors tend to sell their units in a bid to avoid any risk...

The bourse is consulting with Dubai International Finance Center to launch a "product which provides a minimal investment limit and a Shariah-compliant interest rate: CEO DUBAI - The Nasdaq Dubai exchange plans to allow individuals to invest in sukuk (Islamic bonds) by 2019, the chief...

The Swedish national was deported after verbally abusing and unlawfully photographing an immigration officer The Dubai Public Prosecution has dropped criminal charges of a Swedish woman who attempted to enter the UAE on an expired passport and verbally abused an immigration officer,...

Move comes weeks after MENA's largest low-cost carrier disclosed exposure of $336 million to funds managed by the Dubai-based firm facing restructuring due to allegations of investor funds' misuse The founder of troubled private equity giant Abraaj Group has stepped down from the board...

Emirates airline launches discounted air fares to over 70 global destinations Emirates airline has launched one of its biggest sales yet, with reduced fares to over 70 destinations worldwide. The Dubai carrier said the sale, which lasts until August 20, applies to bookings for...

Dubai hotels witnessed significant growth in demand (room nights sold) in July, but performance levels remained low due to pressure from increased supply, a report said. The absolute average daily rate (ADR) level would be the lowest for any month in the market since August 2004, said STR’s...

DIFC Courts has partnered with Smart Dubai for this venture The Dubai International Financial Centre (DIFC) Courts has partnered with Smart Dubai to create the world's first Court of Blockchain, according to the Dubai Media Office. The partnership is the first step in creating a...

Saudi Arabia's Supreme Court has announced that the first day of the annual Haj pilgrimage will be on August 19 and Eid Al-Adha will fall on August 21.  It said Sunday (Aug 12) will be the first day of the incoming month of Dhul Al-Hijjah for the year 1439 AH, a Saudi Press Agency...

The number of guests in Ajman’s hotels increased by 14 per cent in the first half of this year compared to the same period last year, while occupancy rate grew by five per cent, a media report said. Ajman’s total revenue from the tourism and hospitality sector was Dh242 million ($65.8...

Flight destinations most searched focus mainly on European, Far East The UAE's aviation sector is all set to witness massive growth as the region welcomes an increase in international passengers. SEMrush online search data for GCC outbound travel from the UAE, Saudi Arabia and...