New law brings relief to landlords in Abu Dhabi
Landlords in Abu Dhabi will now be able to easily evict low-paying tenants, with the help of the new real estate legislation in Abu Dhabi, passed Wednesday.
The new law would be implemented in the UAE capital in November and the judges will determine rent disputes under the umbrella of the Ministry of Justice.
Abu Dhabi’s Parking Inspectors get Trikkes
Mawaqif's paid parking inspectors would have Trikkes, the light-weight battery powered three-wheel push bikes which are very light and flexible, according to the Department of Transport (DoT) in Abu Dhabi.
Mubadala buys 9 percent stakes in Raine Group
Mubadala Development Company, the investment arm of Abu Dhabi government, has acquired 9 per cent stakes in a US-based merchant bank the Raine Group, a renowned name in the field of media, entertainment and sports in New York, Los Angles and Beijing.
Singapore Airlines to cut first class flights to Abu Dhabi route
Singapore Airlines' new Airbus A330-300 aircraft will be without first class cabins during its way ahead to Abu Dhabi. The move is seen as an effort by the airline to make the judicious use of space as more travelers have started to use economy class in line with their plans to reduce spending.
Abu Dhabi's Foreign Trade Touches 112 billion Dirhams
In a clear reflection of rise in its commercial activities, Abu Dhabi recoded significant jump in its foreign trade that surged over nine percent to stand at 112.071 billion dirhams in the year 2009, according to the figures released by Abu Dhabi Customs Department.
Abu Dhabi needs to be more liberal for media
Rupert Murdoch, the CEO of News Corp., said that media sector have to take more risk to build strong foundation in the Middle-East. Opening media sector for the foreign players and reducing censorship are the way outs for the media sector to flourish in the region.
Ford challengers have tough times in dirt ridden Mexican roads
Dry and dirty conditions prevailing in Mexico hampered the prospective of BP Ford Abu Dhabi World Rally Team for the second round of the FIA World Rally Championship. The dirt roads made Jari-Matti Latvala and Miikka Anttila and championship leaders Mikko Hirvonen and Jarmo Lehtinen to put something extra to reach at the finish.
ADIBF hardens stance against copyright violators
The copyright infringement by the Al Mass publishing house at the Abu Dhabi International Book Fair cost dearly to the firm as the management has fined and banned the firm from the event for the next five years. The Egyptian publishing house making its first appearance at the event is reportedly violated copyright law by illegally using the contents of CDs and education materials.
Abu Dhabi to support downgraded companies
In an apparent bid to appease associated companies which have been downgraded by Moody's Investors Service Inc, the UAE government has expressed its commitment to continue supporting these firms in future as well.
Etihad Airways aims to attract more Tourists to the Emirates
To attract more tourists to visit Abu Dhabi, Etihad Airways is launching a company that shall organize desert safaris, hotel stays and other services.
The company, Hala Abu Dhabi, shall be headquartered in the capital and most of the professionals working for the company shall be Emiratis.
Abu Dhabi to install new CCTV towers
Abu Dhabi, concerned over rising national security threats, has announced to install state-of-the-art surveillance towers in the city that would cost it to more than $120m. Efforts are being made for making the towers operational by the starting of next year.
Yahsat signs deals for enhancing data services
It would become further easy for the Yahsat, the satellite subsidiary of the Abu Dhabi Government-owned Mubadala Development to offer high-speed internet, television and telephone services across satellite connections by the end of next year as the company has signed agreement for enhancing the scope of extending data and voice services throughout the middle-East and Africa.
Masdar for early completion of Masdar City
Masdar, a clean energy company based in Abu Dhabi said that work is still going on the Masdar City and it is continuously being monitored by the firm. The company seemed defensive on the issue following the resignation of top two executives of the company associated with the prestigious project.
Arabtec Extends Due Diligence Date
The due diligence date for $1.7-billion merger of Dubai based Arabtec with Abu Dhabi-based Aabar Investments had been extended to April 16. The proposed stake sale would be discussed at the meeting of the Arabtec's board of directors besides reviewing the financial results of the company.
High profile ISNR 2010 begins in Abu Dhabi
Shaikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Interior Minister of Abu Dhabi inaugurated the second edition of the International Security National Resilience in the capital on Monday. The event would provide a unique platform to the security officials, government functionaries and experts to shares their views for preventing crime and enhancing the scope of security.
ADCB and Schroder & Co signs private banking agreement
Abu Dhabi Commercial Bank ADCB. AD and Schroder & Co Bank AG have announced to strike a partnership deal which is aimed to woo wealthy clients of UAE for offering them banking and wealth management services.
The recent partnership will not only help Schroder & Co Bank AG to expand its business outside Switzerland but also offer a handsome opportunities to tap growing opportunities in the oil rich Emirates.
TDIC showcases its marina projects
The much hyped Abu Dhabi Yacht Show held on Yas Island on February 25-27 saw Abu Dhabi's Tourism Development & Investment Company (TDIC) showcasing its four marina projects.
The projects would come up in Abu Dhabi city - in the Eastern Mangroves and in Al Bateen Wharf. Two more projects would be located at Saadiyat Island's marinas - the Marina Village on Saadiyat Beach and Saadiyat Marina, TDIC informed in a statement.
Abu Dhabi Yacht Show coming to an end this evening
Abu Dhabi Tourism Authority (ADTA) sponsored Abu Dhabi Yacht Show (ADYS), the Middle East's only show dedicated to super and mega yachts, has becoming attraction for a large number of mega yacht industry players from across the World.
ADYS would continue until Saturday night at the stunning Yas Marina on Yas Island of Abu Dhabi in the presence of the powerful players in the mega yacht and custom-built luxury super yacht business.
DMFGI falls for the fifth consecutive day
Dubai Financial Market General Index (DMFGI) remained under pressure for a fifth consecutive day in a row as most of the investors decided to off-load banking and property stocks in Dubai and Abu Dhabi. Investor's confidence also remained under pressure due to delay in restructuring of debt by the Dubai World.
ADSB reports a net profit of AED 114.39 million
Abu Dhabi Ship Building (ADSB) has announced its financial results for the year ended 31st December 2009 reporting a net profit of AED 114.39 million. Company's total assets rose 29 per cent to stands at AED 2.2 billion.