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China’s ICBC becomes Dubai commodities exchange settlement bank

The move will allow more investors to clear transactions in yuan

Indians cannot exchange demonetised currency notes in the UAE

NRIs in the UAE will only be able to exchange their 1,000 and 500 rupee notes in India

Starz Play Arabia receives multi-million dollar funding

The investment will be used to finance its expansion and for further content acquisition

Mercedes-Benz completes autonomous Dubai-Abu Dhabi car journey

The journey was complicated by “speeding and aggressive driving” the company said

Emirates NBD expects sharp drop in retail loan growth in 2017

The bank expects retail lending growth to halve to around 5 per cent as the market slows

Three jailed in the UAE for terror links

One of the accused, an Emirati, was sentenced to 10 years in prison

UAE-Singapore JV plan aluminium products plant in Abu Dhabi

The plant will produce 65,000 tonnes of aluminium coils annually

GCC banks could lose access to dollar clearing- official

U.S. and European banks are continuing to scale back their relationships with Gulf banks

Fire breaks out in Dubai building

All the residents were evacuated from the building – which is located in Bur Dubai

Dubai’s DWC posts 161% growth in passenger traffic

The growth in passenger traffic was mainly driven by flydubai

Dubai investment firm GGICO to restructure $643m of debt

It is the second time in recent years that the company has been forced to renegotiate its financial commitments

Zara, Promod to open at Abu Dhabi’s $1bn Reem Mall

Construction on the mall began in 2015 and it is expected to open in 2018

Dubai construction firms Arabtec and Drake & Scull reduce Q3 losses

Construction companies have been struggling with a difficult industry environment

UAE government extends maternity leave

Female employees of the federal government will now be granted a three-month paid maternity leave

Abu Dhabi’s Image Nation, Chinese media firm create $300m film fund

The fund will invest in films and TV programmes from Hollywood, China and other countries

UAE low cost carrier Air Arabia posts 26% rise in Q3 net profit

Air Arabia had reported declining profits in four of the preceding five quarters

UAE’s GEMS Education seeking $500m loan – sources

The loan will be used partly to refinance existing US dollar-denominated debt

InterContinental Hotels pens deal for UAE’s largest Holiday Inn

The property aims to appeal to the UAE’s growing mid-market segment

Two Audi R8 supercars join Dubai Police fleet

Police will use the cars to raise road safety awareness among young drivers

Dubai theme park operator DXB Entertainments says costs higher than anticipated

DXB Entertainments opened its first theme park, Legoland Dubai, on October 31

Abu Dhabi’s Aldar awards Dhs30m contract for Mayan project

The luxury residential development is located on Yas Island

Dubai’s RTA considers autonomous vehicle deployments at metros, malls

The RTA launched its third trial of an autonomous vehicle system on Saturday

How to sell your UAE healthcare company

The steps involved in selling your healthcare company and why an experienced team is invaluable

Profit at Abu Dhabi's Mubadala climbs 12.4%

Abu Dhabi fund Mubadala may invest in Russian vegoil, rice firms

Russia’s agriculture and food production sector has been growing

UAE to introduce ‘happiness’ programme in private sector

The programme was recently implemented in the public sector

Long-term oil demand outstrips supply – UAE energy minister

Oil companies should invest in the market when prices remain low, says Suhail Al Mazrouei

Dubai’s DEWA confirms start of construction on 2,400MW coal plant

The Hassyan power station is being constructed by the ACWA Power and Harbin Electric consortium

Sheikh Mohammed officially unveils Dubai Canal

Canal and promendade expected to attract 30 million visitors

Dubai property market transactions drop in Q3 – report

Sales prices in both villa and apartment sectors fell by around 1 per cent

Dubai firms remain ‘cautious’ on hiring despite strong growth

Dubai’s private sector economy registered an improvement in business conditions in October