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HuaweiDUBAI - The effects of the credit crunch are being felt by residents in the UAE with Consumer Confidence Index (CCI) dropping by 3.4 index points.
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ABU DHABI - Abu Dhabi is currently experiencing a heavy demand for hotel accommodation, with hotels achieving 85-90pc occupancy for most of the year despite the global financial meltdown.
DUBAI - UAE shares on Monday bounced back from week-long losses, buoyed by property and banking stocks with rebounding oil prices and year-end window dressing also helping to lift the markets.
DUBAI - Despite the global recession, Islami Foods — a halal food producer — has announced an investment of over Dh58 million in its state-of-the-art factory at the Dubai Techno Park, a fully-owned subsidiary of Economic Zones World.
DUBAI - Over 500 companies of the UAE have planned to relocate their businesses to the Dubai Industrial City (DIC), as operating costs at the industrial complex is less expensive by as much as 30 per cent compared to the heart of Dubai, Tatweer Dubai Chief Executive Officer Khaled Al Malik said.
ABU DHABI - A study conducted by brand owners in the UAE has revealed that some select economic sectors of the country alone suffered a loss of about $700 million in a year, as a result of counterfeiting, a government official said on Monday.
DUBAI - His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, appointed on Monday two new board directors of financial regulator Dubai Financial Services Authority (DFSA).
DUBAI - Islamic banking, which is predicted to become a $4 trillion global industry over the next five years, is the least affected sector in the current global economic meltdown triggered by subprime tsunami in the United States, experts said.
DUBAI - Gulf shares rose as crude oil rebounded and investors speculated governments in the region will increase spending next year.
While governments across the world are planning to raise trillions of dollars to fund their bailout and fiscal spending plans, the fact is that it is hard to find convincing examples of fiscal stimulus successfully driving an economic recovery.