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HuaweiDUBAI — Apartment rents in most parts of Dubai continued to decline in August, though in some residential areas rents stayed steady and even increased slightly, according to a survey by the Khaleej Times and property management firm Asteco.
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ABU DHABI — Apartment rents in Abu Dhabi were largely unchanged in August, indicating a third consecutive month of stability in the capital emirate’s rent market, according to a survey by the Khaleej Times and property management firm Asteco.
DUBAI — Total telecom spending in the UAE is expected to decline marginally at an annual rate of around negative 0.02 per cent from 2008 to 2015, when it will reach an estimated $1.26 billion, a US analysis and consulting firm said.
DUBAI — Zain, Kuwait’s largest telecom operator, removed a long-standing cap on individual ownership stakes in an effort to attract more investment, a step that could lead to foreigners buying a controlling share in one of the nation’s best-known companies.
DUBAI — The UAE Central Bank is cutting the interest rate on its liquidity support facilities for the nation’s banks to 1.5 per cent from the current level of 2.5 per cent, a step that some economists and analysts believe should lead to lower bank lending rates and faster economic growth.
RIYADH — Prince Alwaleed bin Talal, Citigroup Inc.’s largest individual investor, was ranked the richest Saudi national by Arabian Business, even after losing 4.6 per cent of his personal wealth in the past year.
DUBAI — Saudi Arabia’s food and agricultural imports are expected to grow by 25 per cent in 2009 to surpass the SR56.35 billion spent on related products in 2008.
DUBAI — Container port operator DP World and Brazilian company Odebrecht have jointly acquired a majority stake in Embraport, a private Brazilian port terminal, which is under construction in Santos.
DUBAI — UAE and Qatari shares advanced to their highest levels in almost three weeks as oil held above $70 a barrel and evidence builds that the global recession is ending.
DUBAI — Amlak Finance, one of two cash-strapped UAE mortgage lenders to have its shares blocked from trading, declared a Dh67.1 million loss for the second quarter, due mainly to provisions it took against dud loans amid the continuing decline in Dubai’s property sector.