DIRS.INFO The most relevant business & tech news

The Sudanese Doctors' Union earlier reported at least 25 people were killed and 183 wounded in battles that erupted on Saturday between the military and the RSF. The army told soldiers seconded to the RSF to report to nearby army units, which could deplete RSF ranks if they obey. The military and RSF, which analysts say is 100,000 strong, have been competing for power as political factions negotiate forming a transitional government after a 2021 military coup. The RSF shared a video that it said showed Egyptian troops who "surrendered" to them in Merowe. Clashes also erupted between the RSF and army in the Darfur cities of El Fasher and Nyala, eyewitnesses said.

☆ Sixteen dead, 9 injured in Dubai residential building fire - local media
▼ + stars: | 2023-04-16 | by ( ) www.reuters.com time to read: 1 min

DUBAI, April 16 (Reuters) - Sixteen people were killed and nine were injured in a Dubai residential building fire on Saturday, local newspapers said on Sunday citing the Dubai Civil Defence. The fire engulfed the five-storey building in the Al-Ras neighborhood, one of the oldest parts of Dubai and home to many migrant workers and traders, on Saturday afternoon, according to Abu Dhabi-based newspaper The National. Local media said the fire had been put out. "Preliminary investigations showed that lack of compliance with building security and safety requirements caused the fire" the National said citing a civil defence statement. Reporting by Hatem Maher in Cairo and Nadine Awadalla in Dubai; Writing by Omar Abdelrazek; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

The Sudanese air force is conducting operations against the RSF, the army said. Footage from broadcasters showed a military aircraft in the sky above Khartoum, but Reuters could not independently confirm the material. A Reuters journalist saw cannon and armoured vehicles deployed in streets, and heard heavy weapons fire near the headquarters of both the army and RSF. The RSF, which analysts say is 100,000 strong, said its forces were attacked first by the army. Civilian political parties that had signed an initial power-sharing deal with the army and the RSF called on them to cease hostilities.

☆ UAE leader breaks with tradition, appoints son as crown prince
▼ + stars: | 2023-03-30 | by ( Natasha Turak | ) www.cnbc.com time to read: +4 min

Sheikh Khaled bin Mohammed bin Zayed Al Nahyan, the UAE leader's eldest son, is now the oil-rich Middle Eastern country's crown prince, effectively next in line for its leadership. Sheikh Tahnoon was already named chair of the $790 billion Abu Dhabi Investment Authority, the emirate's main sovereign wealth fund, earlier in March. Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of the Emirate of Abu Dhabi. He described the decision as "formalizing the leverage Abu Dhabi has over Dubai, and how little Dubai will be allowed to say in foreign policy." Prime Minister and Vice-President of the United Arab Emirates and ruler of Dubai Sheikh Mohammed bin Rashid al-Maktoum attends the Global Women's Forum in Dubai, United Arab Emirates, February 16, 2020.

☆ A 50% rent increase? Record property demand in Dubai is creating a nightmare for some residents
▼ + stars: | 2023-03-10 | by ( Natasha Turak | ) www.cnbc.com time to read: +8 min

Beyond the property market, Dubai's economic boom is evident in everyday life. The Dubai International Financial Centre (DIFC) area of Dubai, United Arab Emirates, with the Burj Khalifa in the backdrop, Sept. 16, 2022. Property prices have, too — CBRE says that selling prices are up 11.5% on average in the year to February 2023. Christopher Pike | Bloomberg | Getty ImagesAccording to CBRE's research, in the year through February 2023, average Dubai rents increased by 27.7%. In the meantime, no one expects property prices to ease up anytime soon.

LONDON, March 8 (Reuters) - The founder of collapsed private equity company Abraaj Group on Wednesday lost a bid to challenge his extradition from London to the United States to face fraud charges. Judge Jonathan Swift on Wednesday refused Naqvi permission to bring a judicial review against the 2021 approval of his extradition to the United States. Naqvi also suffers from severe depression and there is a “real risk” of suicide if he is extradited, Fitzgerald argued. The judge also said that Naqvi’s suicide risk could be adequately managed if he was held in prison. Naqvi’s lawyer did not immediately respond to a request for comment.

☆ Businessman accused by Trafigura living in Dubai's Palm Jumeirah-court document
▼ + stars: | 2023-03-08 | by ( Eric Onstad | ) www.reuters.com time to read: +2 min

LONDON, March 8 (Reuters) - Indian businessman Prateek Gupta, whom commodity trader Trafigura has accused of "systematic fraud" regarding nickel shipments, is living in the sought-after Palm Jumeirah area of Dubai, London court documents said. A London High Court judge agreed to impose a $625 million freezing order on assets controlled by Gupta and companies linked to him, which included a villa in Palm Jumeirah, the freezing order document said. A spokesperson for Gupta has said he plans to challenge the freezing order. Palm Jumeirah is a man-made island shaped like a palm and regarded as one of the most sought-after areas of Dubai. "Trafigura does not know whether Mr Gupta is the beneficial owner of this property," said an affidavit by Joseph O'Keeffe, a lawyer representing Trafigura.

☆ USTA, US Open hoping unvaccinated Novak Djokovic gets special nod to enter country
▼ + stars: | 2023-03-04 | by ( ) www.cnbc.com time to read: +2 min

Novak Djokovic of Serbia competes during the men's single quarter final match of Dubai Duty Free Tennis Championship on March 3, 2023. The United States Tennis Association and the U.S. Open are hoping Novak Djokovic is successful in his bid to enter the country after the Serbian, who is not vaccinated against Covid-19, applied for special permission last month. "Novak Djokovic is one the greatest champions our sport has ever seen," the U.S. Open Twitter account said on Friday. "The USTA and U.S. Open are hopeful that Novak is successful in his petition to enter the country, and that the fans will be able to see him back in action at Indian Wells and Miami," it added. Indian Wells tournament director Tommy Haas said in January it would be a "disgrace" if Djokovic was not allowed to compete this year after the Serbian also missed last year's U.S. Open.

☆ Most Russian individuals coming to Dubai are brought in by major multinational companies: Dubai tourism chief
▼ + stars: | 2023-03-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMost Russian individuals coming to Dubai are brought in by major multinational companies: Dubai tourism chiefHelal al-Marri, director general of Dubai's department of tourism and commerce marketing, tells CNBC's Hadley Gamble that most Russian individuals coming to Dubai are brought in by major multinational companies, as the West pressures the UAE to comply with sanctions.

☆ Murray pulls out of Dubai due to recurring hip injury
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +1 min

Feb 27 (Reuters) - Andy Murray has withdrawn from the Dubai Tennis Championships this week due to a recurring hip issue, tournament organisers said on Monday. "We regret to inform you that Andy Murray is unable to participate in this year's tournament," Dubai organisers said in a post on Twitter. "Andy has been dealing with a recurring hip injury that has unfortunately forced him out of Dubai." Murray said after his defeat by Medvedev that he would have to manage his body better, especially after physically demanding matches. Murray's pullout from Dubai comes a day after fellow Briton Emma Raducanu, the 2021 U.S. Open champion, withdrew from the Austin Open in Texas due to tonsillitis.

☆ Dubai could get a 93-kilometer indoor cycling super highway
▼ + stars: | 2023-02-09 | by ( Nadia Leigh-Hewitson | ) edition.cnn.com time to read: +4 min

The 93 kilometer-cycle highway would allow people to get around the city of Dubai without using fossil fuels. Bagherian says that a visit to the Agri Hub would help guests to understand and engage more in sustainable practices. Visitors to the Agri Hub could learn about sustainability and enjoy environmentally-friendly tourism offerings such as farm-to-table cafes and restaurants. URB says the projects will be funded by private investors and that it is currently undertaking feasibility studies to establish the best site for the development of the Agri Hub. Bagherian hopes construction of the Agri Hub will begin in 2024.

☆ Beyoncé, a $100k-a-night suite and a red carpet of influencers: Dubai basks in its booming economy
▼ + stars: | 2023-01-27 | by ( Natasha Turak | ) www.cnbc.com time to read: +6 min

Beyoncé performs on stage headlining the Grand Reveal of Dubai's newest luxury hotel, Atlantis The Royal on January 21, 2023 in Dubai, United Arab Emirates. Mason Poole/parkwood Media | Getty Images Entertainment | Getty ImagesDUBAI, United Arab Emirates — It was the talk of the town. "Igniting the next chapter of the Atlantis legacy," Atlantis Dubai wrote in an official tweet along with a promotional video of the opening fireworks. Beyoncé performs on stage headlining the Grand Reveal of Dubai's newest luxury hotel, Atlantis The Royal on January 21, 2023 in Dubai, United Arab Emirates. "Dubai is also growing in prominence as a financial services hub as underscored by several hedge funds opening up offices there."

☆ Dubai lender Emirates NBD 2022 net profit up 40%
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +1 min

DUBAI, Jan 26 (Reuters) - Emirates NBD (ENBD.DU), Dubai's biggest lender, reported a 40% jump in 2022 net profit to 13 billion dirhams ($3.5 billion) on Thursday, helped by higher interest rates and transaction volumes which boosted overall income. The bank, majority owned by the government of Dubai, made a profit of 3.9 billion dirhams in the fourth quarter, up 94% from a year earlier. Higher interest rates and increased transaction volumes supported a 36% jump in 2022 total income to 32.5 billion dirhams, boosting profit. Total assets grew 8% to 742 billion dirhams. Total deposits grew 10% in 2022 to 503 billion dirhams.

☆ 3 couples who drive trucks for a living reveal how they manage to stay in love while on the road
▼ + stars: | 2023-01-23 | by ( Hannah Towey | ) www.businessinsider.com time to read: +5 min

But the Rebelos aren't influencers or travel photographers — they're truck drivers. Insider interviewed three trucking couples about how their marriages have survived — and even thrived — while driving freight across the country. "Even prisoners have a bigger cell than a truck," Deb told Insider. "Of course you love the person, but you better like that person, too," Frank Rebelo said. "You get into a little bit of an argument and you're packing all your stuff," Deb LaBree told Insider about the couple's early trucking days.

☆ ‘The Real Housewives of Dubai’ Are Supposed to Get Cheaper Booze Now
▼ + stars: | 2023-01-19 | by ( Rory Jones | ) www.wsj.com time to read: 1 min

DUBAI—The United Arab Emirates, where Dubai is located, has in recent years tried to position itself as a playground for the rich, offering longer-term visas, zero income taxes and plenty of night life. More than 80% of the population is expatriate. These days, in another notable move, one of the world’s most expensive cities to drink just made booze cheaper.

☆ Many office buildings are 'obsolete' and need to be converted or die, CEOs of some of real estate's biggest players told world leaders
▼ + stars: | 2023-01-18 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +4 min

It's time to face a harsher reality, real estate executives told financial and world leaders at the World Economic Forum's annual meeting in Davos, Switzerland, on Wednesday. The results of flexible work programs have hit the values of older office buildings in cities across the world as office tenants downsize. Sajwani, Palladitcheff, Ulbrich and Cantor Fitzgerald CEO Howard Lutnick all agreed that many office buildings will need to be repurposed or torn down. It's those less attractive places that face multiple challenges of crime and homelessness where the value of office buildings will deteriorate "quite quickly." Office buildings "will become eyesores and they will need to be fixed," Lutnick said.

☆ This record-breaking artist uses the beaches of Dubai as his canvas
▼ + stars: | 2023-01-17 | by ( Nadia Leigh-Hewitson | ) edition.cnn.com time to read: +3 min

For Dubai-based Filipino artist Nathaniel Alapide, it’s how he became a Guinness World Record holder. Dubai’s 72 kilometers (45 miles) of sun-bleached coastline, and the vast Arabian desert, are his canvas. The scale of the drawing impressed the hotel, who offered him his first full-time job as a sand artist in 2015. It took 30 days to create and required 12,000 tons of sand in four colors, sourced from across the UAE desert. Though he has crafted a career from the practice, Alapide says creating an artwork from sand isn’t without its challenges.

☆ Dubai property price rises may slow further in 2023, real-estate consultancy says
▼ + stars: | 2023-01-15 | by ( Yousef Saba | ) www.reuters.com time to read: +2 min

Dubai's property sector surged in 2020 as it opened up again during the pandemic before most major cities and as rich buyers snapped up luxury units, boosting a sector that had been sluggish since the 2014-15 oil price crash. Buyers from Pakistan were sixth, Lebanon seventh, China eighth, the United States and Canada ninth and Kyrgyzstan 10th, Betterhomes said in a report. Among residents of Dubai, Indians were the top buyers, followed by Britons, Russians, Italians and Canadians. Concerns of oversupply have long plagued the sector which saw a property bubble burst in 2009-2010, causing prices to plunge by more than half. Waind expects 30,000-35,000 new units in 2023, which he viewed as "a lack of supply in this market with population growth".

☆ Dubai announces $8.7 trillion economic plan to boost trade, investment and global hub status
▼ + stars: | 2023-01-04 | by ( Natasha Turak | ) www.cnbc.com time to read: +3 min

DUBAI, United Arab Emirates — Dubai on Wednesday announced a mammoth $8.7 trillion economic plan for the coming decade, aimed at turbocharging trade, foreign investment and its place on the map as a global hub. "Over 300,000 global investors are helping build Dubai into the fastest growing global city." Those include boosting foreign trade to 25.6 trillion dirhams from 14.2 trillion dirhams in the last decade, nearly doubling annual foreign direct investment to 60 billion dirhams yearly, and increasing government spending from 512 billion dirhams in the last decade to 700 billion in the next. The plan also aims to bring private sector investments up from 790 billion dirhams in the last decade to 1 trillion in the next and pledged 100 billion dirhams in annual contributions to the economy from digital transformation projects. The sheer size of the city's economic goals may draw some skepticism, but finance experts in Dubai believe they are achievable.

☆ Dubai nixes its 30% alcohol tax in a bid to attract more tourism
▼ + stars: | 2023-01-03 | by ( Natasha Turak | ) www.cnbc.com time to read: +4 min

"Dubai Municipality has temporarily stopped collecting the 30% fee from alcoholic beverage companies for a period of one year from the beginning of 01/01/2023 to the end of 12/31/2023. The companies authorized to sell in the Emirate of Dubai have been notified of this decision," Dubai Municipality wrote in a post from its official Twitter account. It also said that personal liquor licenses, previously a requirement for all Dubai residents for purchasing alcohol in shops and costing 270 dirhams ($73.50), are now free. Some Dubai residents were unhappy about the abrupt announcement, having recently paid the full fee for their yearly license. Woman sunbathers sit along a beach in the Gulf emirate of Dubai on July 24, 2020, while behind is seen the Burj al-Arab hotel.

London/Abu Dhabi CNN —Dubai has scrapped a 30% tax on alcohol and will no longer charge tourists or expats for permits to buy alcoholic drinks as the emirate tries to attract more foreign workers and visitors in the face of growing regional competition. Two major retailers in the city, located in the United Arab Emirates (UAE), said they had slashed their prices to reflect the tax cut. MMI, one of Dubai’s biggest alcohol retailers and a subsidiary of the state-owned Emirates group, has 21 stores across the city, according to its website. Muslims are prohibited from acquiring licenses for purchase of alcohol in Dubai. The sale of alcohol in the UAE is already more liberalized compared to neighboring Gulf countries.

☆ Dubai scraps 30% tax on alcohol sales amid economic rebound
▼ + stars: | 2023-01-02 | by ( ) www.reuters.com time to read: +2 min

[1/2] Fireworks explode from the Burj Khalifa, the tallest building in the world, during the New Year's Eve celebrations in Dubai, United Arab Emirates, January 1, 2023. REUTERS/Satish KumarDUBAI, Jan 2 (Reuters) - Dubai has suspended a tax of 30% on alcohol and dropped a licence fee previously needed to buy alcohol in the commercial and tourism hub, two major retailers said on social media. "With the removal of 30% municipality tax and a free alcohol licence, buying your favourite drinks is now easier and cheaper than ever," MMI, one of two major purveyors of alcohol in Dubai, said on its Instagram account. Another retailer, African+Eastern, confirmed the tax no longer applied, but prices would remain subject to a 5% value added tax (VAT). The Dubai Media Office did not immediately respond to a request for comment.

☆ How London became the divorce capital of the world for the mega-rich
▼ + stars: | 2022-12-26 | by ( Bill Bostock | Charles R. Davis | ) www.businessinsider.com time to read: +5 min

A UK judge ordered Sheikh Mohammed of Dubai to pay a $679 million divorce settlement to his ex-wife. Princess Haya had filed for divorce in London, known as "the divorce capital of the world." It also reaffirmed London's status as the de facto "divorce capital of the world," at least for the rich and famous. The often-cited case — "White v White" — concerns Martin White and Pamela White, farmers from Somerset who filed for divorce in 1994. Lawyers for Khoo told the court that his case had enhanced "the ill-gotten reputation of this country for being the divorce capital of the world."

☆ Most Gulf markets subdued on economic concerns; Dubai gains
▼ + stars: | 2022-12-26 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

Dubai's main share index (.DFMGI) added 0.3%, ending three sessions of losses, helped by a 1.3% rise in sharia-compliant lender Dubai Islamic Bank (DISB.DU). Among other gainers, Islamic Arab Insurance (SALAMA) (SALAMA.DU) advanced 3.9%, after saying it is considering a proposal to acquire the insurance portfolio of Dubai Islamic Insurance and Reinsurance (Aman) (DNIN.DU). The benchmark index (.QSI) in Qatar - among the world's top exporters of liquefied natural gas - retreated 1.2%. Most stocks on the index were in negative territory including Qatar Islamic Bank (QISB.QA), which was down 2.4%. Outside the Gulf, Egypt's blue-chip index (.EGX30) climbed 1.2%, with El Sewedy Electric (SWDY.CA) surging 8.1%.

☆ Fact Check-Meteor-like flares seen over Dubai night sky were skydivers, not meteoroids or asteroids
▼ + stars: | 2022-12-15 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

Meteor-like flares recorded soaring over the Dubai skyline on Dec. 11 were skydivers performing a stunt with flares attached to them, not meteoroids or asteroids, as has been claimed online. One Facebook user uploaded a video of glowing objects flying over the UAE city’s night sky on Sunday (here), along with the caption: “Numbers of meteorites falling in Earth. Every time planet Nibiru comes in our solar system it drags space dust, asteroids and meteorites with its tail. It shows sky divers performing a stunt with flare-like objects attached to them. The video shows skydivers performing a stunt involving flares, not meteors breaking up in the atmosphere over Dubai’s skyline.

Search resuls for: "of Dubai"

25 mentions found