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ATU Duty Free to operate the duty free stores at Salalah Airport in Oman

August 2014 in News by Publisher

ATU Duty Free, a joint venture between TAV Airports and Unifree Duty Free / Gebr. Heinemann, is awarded the tender for the 10-year operation rights of duty free stores at the newly developed Salalah International Airport in Salalah, the second largest city in Oman. ATU Duty Free will begin operations from January 2015. Read the rest of this entry »

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COFELY BESIX facility management awarded contract for Aldar Headquarters building

August 2014 in News by Publisher

COFELY BESIX facility management, the region’s leading integrated facilities management company, has recently been awarded a 3-year contract by Aldar Properties PJSC, to undertake the maintenance and operation of the Aldar Headquarters building located in Abu Dhabi. Read the rest of this entry »

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DMCA announces move to make Marine Craft Driving License mandatory starting January 2015

August 2014 in News by Publisher

New service covering all types of marine crafts and its crew is part of continuing commitment to promote maritime safety and operational efficiency across local coastline Read the rest of this entry »

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Emirates Islamic launches campaign to encourage customer use of digital banking platforms

August 2014 in News by Publisher

• Announces rewards for five customers with highest number of transactions in mobile or online banking space

• Focus on remittances, utility payments and Flydubai bookings Read the rest of this entry »

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Injaz Mena returns to profit and rebrands as Integrated Capital

August 2014 in News by Publisher

Following a highly successful restructuring exercise, Injaz Mena, a licensed investment company regulated by the Central Bank of the UAE, today reported its first profit since 2008. For the year ending March 2014, Injaz Mena achieved a net profit of AED 7.1 million, which is approximately a 20 per cent return on adjusted equity. Read the rest of this entry »

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DEWA promotes psychological stability and social welfare of its staff

August 2014 in News by Publisher

Dubai Electricity & Water Authority (DEWA) has launched its Employee Satisfaction Survey 2014, in line with Dubai Government’s vision to boost governmental work to the highest levels of efficiency and DEWA’s own vision to become a sustainable world-class utility. Read the rest of this entry »

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SKAI Holdings secures AED927million worth of sales for new upper upscale hotel, Suites in the SKAI

August 2014 in News by Publisher

• AED1.2bn luxury tower to feature 271 sky-high swimming pools, stunning garden balconies and panoramic city views
• Suites in the SKAI to commence operation in Dubai in 2017
• New four-star hospitality concept to support Dubai’s Tourism Vision 2020 and Expo 2020 Read the rest of this entry »

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Flexible Relay Solution From Rockwell Automation Simplifies Safety Implementation

August 2014 in News by Publisher

Machine builders can now easily implement required safety functions while improving productivity with the Allen-Bradley Guardmaster 440C CR30 safety relay from Rockwell Automation.

Users can program the safety relay through the free Connected Components Workbench software from Rockwell Automation. Connected Components Workbench software reduces programming time and helps increase productivity by allowing users to create, control and monitor a safety system in the same software environment as their standard control. Read the rest of this entry »

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SDL Nobiles glass roof passes heat test with flying colours

August 2014 in News by Publisher

In public buildings, the safety of occupants is paramount which is why Solarlux has to meet strict safety requirements when tendering for public contracts. The company’s thermally-insulated glass roof construction, SDL Nobiles, was recently put to the test for a project at The Mailbox shopping centre in Birmingham. Read the rest of this entry »

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ENOC rolls out ‘Shop and Live for Free’ campaign to mark DSS 2014

August 2014 in News by Publisher

With the ever-increasing popularity of its non-contact, video-based extensometer system, Video Gauge, Imetrum is pleased to announce the appointment of two new distributors to its European network. Instrumentation Devices will be responsible for the Italian marketplace, while RMC Engineering, based in Istanbul, will cover Turkey. Read the rest of this entry »

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ENOC rolls out ‘Shop and Live for Free’ campaign to mark DSS 2014

August 2014 in News by Publisher

• Prizes of over AED 200,000 to be distributed during the month-long campaign
• Campaign to be held until 5 Sept. for the grand prize of one year’s house rent, school fees, grocery shopping vouchers, telecom services and car lease, among others
• Five lucky customers will win weekly prizes of ZOOM grocery vouchers worth AED 500 Read the rest of this entry »

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Emaar net profit increases 41% in first-half 2014 to AED 1.731 billion (US$ 471 million)

August 2014 in News by Publisher

• Half-year 2014 revenue reaches AED 5.063 billion (US$ 1.378 billion)
• Second quarter 2014 net profit is AED 868 million (US$ 236 million); revenue is AED 2.807 billion (US$ 764 million)
• Malls, retail and hospitality revenues for half-year 2014 are AED 2.647 billion (US$ 721 million), 52% of the total revenue

Building on the positive growth of Dubai’s economy, Emaar Properties PJSC recorded a net profit of AED 1.731 billion (US$ 471 million) during the first half (H1 – January to June) of 2014. This is 41 per cent higher than H1 2013 net profit of AED 1.231 billion (US$ 335 million). Read the rest of this entry »

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BRIC (Brazil, Russia, India and China) markets bring bigger capital inflow into UAE than MENA markets, with India topping the list: Fortress Investments

August 2014 in News by Publisher

MSCI upgrade of the UAE to emerging market status places it within the BRIC grouping

Fortress Investments, a leading investment firm operating in the Middle East, says that there is a significant increase in capital inflows into UAE from emerging markets, particularly the BRIC countries (Brazil, China, India and Russia), surpassing inflows from MENA (Middle East & North Africa) region. Read the rest of this entry »

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DAMAC Properties’ Latest Project Sells out in One Night

August 2014 in News by Publisher

More than 300 Investors attend events in six venues across the UAE;

Dubai Real Estate Market Remains ‘Bullish’

The latest project to be launched by luxury real estate developer, DAMAC Properties, has sold out in just one evening. Read the rest of this entry »

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DEWA enhances efficiency and reliability of its electricity and water networks

August 2014 in News by Publisher

Dubai Electricity and Water Authority (DEWA) continues to enhance the efficiency and capacity of the production, transmission and distribution of water and electricity networks to meet the needs of consumers, developers and other business sectors as well as to support preparations for Expo 2020. Read the rest of this entry »

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Zari O’Breesam: “Number of malls in Dubai is among the highest in cities globally”

August 2014 in News by Publisher

Nazek Al Sabbagh: “Extensive retail space in Mall of the World will entice international brands to increase their presence”

According to a regional expert in retail brands, Dubai has entered the third phase of development in retail, shopping and family tourism. Read the rest of this entry »

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Emirates Islamic offers customers the chance to win a Mercedes-Benz SLK200

August 2014 in News by Publisher

Emirates Islamic MasterCard Debit Card cardholders to enter a draw for every transaction made outside of the UAE

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, today launched an exclusive campaign in collaboration with MasterCard, to encourage debit card use by customers travelling abroad, with the chance for one lucky customer to win a Mercedes-Benz SLK200 roadster. Read the rest of this entry »

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Higher Interest Rates Sooner for the United States?

August 2014 in News by Publisher

United States

A Volatile US data Give the Fed an Opportunity to Buy Some Time
As the holidays come to an end, we come to a very busy data week in the US in conjunction with the FOMC meeting. All these events have given the market some hope from the emergence of volatility, as signs of wage inflation emerge and GDP rebounds, which has the USD bulls excited. Read the rest of this entry »

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RAK Properties achieves AED 52 million net profit for first half of the year

August 2014 in News by Publisher

Leading property developer posts revenues worth AED 149 million with total sales value in excess of AED 234 million Read the rest of this entry »

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Employees’ initiatives save over AED 8 million for DEWA during first quarter of 2014

August 2014 in News by Publisher

Dubai Electricity and Water Authority (DEWA) honoured winners of its Special Act Awards for their useful ideas and initiatives that helped save over AED 8 million in the first quarter of 2014. Winners in the Distinguished Employee and Ibda’a (Innovation) categories were also honoured during a ceremony attended by Hussain Lootah, Executive Vice President of Power Transmission, Abdullah Al Hajri, Executive Vice President of Customer Services, Dr. Yousef Al Akraf, Executive Vice President of Business Support and Human Resources, Waleed Salman, Executive Vice President of Strategy and Business Development, and a number of DEWA’s employees. Read the rest of this entry »