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Almost 10,000 Illegal Residents Exit UAE After Amnesty

The UAE government’s two-month amnesty programme extends until February 4.

Abu Dhabi Awards $653m Louvre Contract To Arabtec

The Louvre museum in the emirate is due to be completed in 2015.

Nakheel Issues $33m Sukuk As Part Of Debt Deal

The proceeds will be used to settle trade creditor claims against the Dubai developer.

Dubai’s Cautious Property Comeback

The emirate’s real estate sector edged backed to life in 2012.

Dubai Rents Up 7% In 2012, To Rise Further In 2013

Apartment rents in Dubai rose seven per cent year-on-year, while villa rents increased six per cent year-on-year in 2012, says new report.

Le Méridien Mina Seyahi Reopens After Refurb

Well-known hotel sports ‘chic new look’ and aims to serve as a contemporary city escape for business and leisure travellers

UAE Energy Minister: Current Oil Prices “Good”

Oil prices in 2013 are expected to be similar to prices in 2012, says UAE energy minister Mohammed Dhaen Al Hamli.

Fashion TV Announces New ‘Studio F’ Venture In Dubai

The French broadcasting station’s new venue will act as a fashion studio, a restaurant and a VIP night lounge.

UAE Banks To Push For Delay Of New Mortgage Rules

A UAE central bank circular issued last week said mortgage loans for foreigners should not exceed 50 per cent of the property value.

UAE Employees To See 5% Pay Rise In 2013

Workers in Saudi Arabia are expected to see the biggest salary hikes in the region at six per cent, says new study.

Exclusive: Dubai World Central Airport May Open Early For Passengers

The passenger complex at the new Dubai World Central Al Maktoum International Airport could open as soon as Q1 2013.

Dubai’s BurJuman Shopping Mall Begins Expansion

A new Carrefour hypermarket and a 14-screen Vox Cinemas multiplex are part of the mall’s renovation plan.

Dubai Islamic Bank To Fully Acquire Mortgage Firm Tamweel

The Dubai-based lender already owns a 58.2 per cent stake in Tamweel.

India’s Jet Airways Confirms Stake Sale Talks With Etihad

Abu Dhabi-based Etihad could pay up to $330 million for a 24 per cent stake in Jet Airways, says source.

Turkey, UAE Sign $12bn Power Production Investment Deal

The project, located in Turkey’s Afsin-Elbistan region, is expected to start production in 2018.

Bounced Cheques Remain Criminal Offence For UAE Expats

Officials clarify that the UAE rule of decriminalising bounced cheques only applies to UAE nationals.

Dubai Telco Du Signs $100m Financing Deal

The telecoms operator plans to use the funds for the future growth of its business.

Etihad Close To Buying Stake In India’s Jet Airways

The Abu Dhabi-based airline is in final stages to acquire a part of the Indian carrier, say sources.

UAE’s New Mortgage Rule Will Deter Property Investors – Experts

The UAE central bank recently issued a ruling to limit home loans to foreigners at 50 per cent of the property’s value.

Concourse A Opens At Dubai International

EK003, which took off at 1439 from Dubai to London Heathrow, became Concourse A’s first flight.

TAQA Buys 53.2% Stake In Iraqi Kurdistan Oil Block For $600m

Abu Dhabi National Energy Co(TAQA) confirmed that production was expected to begin in 2013.

Banking Special: Stable Times For The UAE

The UAE is well capitalised but banking asset quality remains a concern.

Expats Who Bounce Cheques No Longer Risk Prison In UAE

UAE courts have stopped sentencing debt defaulters to prison since last month, say reports.

Abu Dhabi Foreign Trade Up 37.6% In 2011

Exports rose 38.5 per cent to Dhs416 billion, driven by a rise in oil prices.

Dubai Approves New Budget; Spending Set At Dhs34.1bn

Government expenditure is up six per cent from 2012, while revenues are forecast to rise 7.8 per cent in 2013.

Nakheel Awards $136m In Contracts For Villa Project

Arabtec and SS Lootah have been awarded the contracts for the Dubai developer’s Jumeirah Park development.

Etihad Exceeds 2012 Target; Carries Over 10m People

The Abu Dhabi airline is set to achieve a 22 per cent year-on-year increase in passenger numbers.

UAE Central Bank Limits Home Loans To Foreigners

Foreigners buying real estate in the UAE can now only get a loan for up to 50 per cent of the property’s value, say sources.

Emirates Gears Up for Double Daily A380s to New York and Paris

The expansion dovetails with the opening of Concourse A, the world’s first purpose-built A380 concourse, at Dubai International Airport in January

Emirates And CAE Investment Tops $260 million

The Emirates CAE Flight Training Centre services over 200 aviation clients and trains more than 10,000 pilots and technicians a year