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Dubai house rents to fall by 4% in 2015- report

Dubai is unlikely to see a steep growth in rents as the market stabilises, a new report says

DIFC Courts says 447% rise in value of claims in first half of 2015

The average value per claim in the Court of First Instance increased 490 per cent to Dhs 106.4m

Marka signs Dhs 31m franchise deal for ice cream brand Morelli’s Gelato

Post the deal, Marka plans to open 17 Morelli’s outlets in the MENA region by 2020

Three senior staff at UAE’s Arabtec quit, new CFO appointed

The changes follow a series of management upheavals at the company since June last year

UAE Central Bank issues braille currency notes for Dhs 500, Dhs 5

The new tactile features will be engraved in bleed-off intaglio printing on the edge of the banknotes’ short sides

UAE collects labour fines worth Dhs 37.5m during grace period

The ministry said that 27,962 companies have resettled fines relating to 58,365 workers registered under their sponsorships

UAE crude oil exports to fall in Q4 on refining boost -sources

The added refining capacity is expected to eat into crude available for exports, Gulf-based oil and trading sources said

Abraaj Group buys majority stake in Nigerian mattress maker Mouka

The founding family of Mouka who will retain a minority stake in the company, a statement said

UAE cabinet approves draft law on bankruptcy

The draft law reportedly presents “flexible strategies” to bailout businesses that are facing bankruptcy

UAE businessman Abdullah al-Ghurair gives third of assets to charity

Al Ghurair has donated a third of his assets to an educational foundation as part of a charity drive

Sheikh Mohammed reaffirms UAE’s focus on gender equality

The UAE set up the Gender Balance Council earlier this year to empower women in the country

Emirates to launch services to Iranian city of Mashhad

The airline will soon begin a weekly service to Mashhad, its second destination in Iran

Dubai property market unlikely to see drastic correction – survey

The majority of business executives say any losses or gains in the Dubai property market will be within 10 per cent of current values, a new survey showed

GCC smartphone market up 21% in Q1 – IDC

The smartphone market’s share in the region is now just under 77 per cent

UAE bank ADIB targets 2016 acquisitions, eyes Asia, Middle East

The bank is looking for opportunities in Malaysia and Indonesia, as well as Algeria, Jordan and Morocco, its CEO said

Abraaj Capital sells 13.6% stake in Africa’s UAP Holdings

Abraaj sold its stake in the African insurance firm to London-based banking group Mutual plc

Philippines confirms second MERS case in man who arrived from Dubai

The 36-year-old was admitted to hospital on Saturday and is under observation

Top tips to choose the right property developer in Dubai

Do proper due-diligence on the developer and visit their existing projects in order to pick the right one

UAE’s Dana Gas wins favourable ruling in Kurdistan dispute

The Abu Dhabi-listed firm had filed an arbitration case in London in October 2013 against the Kurdistan Regional Government

Reem Mall gets nod from Abu Dhabi Urban Planning Council

Following the approval, officials said that they expect to start work on the $1bn mall this year

Construction dispute values in the Middle East up 88% in 2014

Failure in administering the contract, poorly drafted claims and biased professionals were some of the top reasons for construction disputes in the Middle East, a new study shows

DIFC starts work on $205m building in Gate Village

The new building will have a total built-up area of 200,000 square feet and will comprise of retail and F&B units along with office space

UAE non-oil business growth slows to 22-month low in June

The corporate survey attributed some of the slowdown to Ramadan, which began on June 18

The trials and tribulations of renting a property in Dubai

By following a few simple steps renting in Dubai can become a lot easier, writes Toby Young managing director of propertyrights.ae

UAE to finish drafting corporate tax, VAT laws this quarter

Authorities are still evaluating the social and economic impact of the laws, but drafting was expected to be finished “very soon, an official said

Dubai airport passenger traffic up 23 per cent in May

Passenger numbers climbed to 6.2 million in May – up from 5 million a year earlier

Emirates starts A380 Dusseldorf flights

Western city becomes third in Germany to welcome the superjumbo

Mohamed Alabbar to acquire stake in YNAP from Richemont

Emaar chairman Mohamed Alabbar launches real estate educational institute

The institute will develop a talent pool of senior managers and project developers in order to expand the UAE’s real estate sector

Dubai’s Drake & Scull increases GCC ownership limit to 100%

Nationals from the UAE currently hold 51.02 per cent of the company’s stock, with the remaining GCC nations owning 5.85 per cent

Abu Dhabi’s TAQA says not holding merger talks

The company “confirms that it is not engaged in merger discussions with any government or other entity”, it said in a statement to the bourse