Wednesday 23 April 2014

Property bubble? 'Not in Abu Dhabi'

Abu Dhabi remains far from entering a boom-and-bust cycle in its real estate market even though property prices in the wealthy emirate are rising sharply, executives said at a major industry fair. Selling prices for residential units in Abu Dhabi rose an average 27 per cent from


Burj Al Arab offers 'wedding in the sky'

Burj Al Arab, the world's most luxurious hotel, is taking romance to new heights offering weddings in the sky, 212 metres above the azure Arabian Gulf on the famous Burj Al Arab helipad. Each ceremony is specially designed by a wedding architect, responsible for every detail


Billions needed to upgrade Egypt's power grid

Egypt needs to find at least $5 billion to invest in its dilapidated power grid, a government official told Reuters, highlighting a major challenge for the next president as the country faces the risk of worsening blackouts this summer. Energy is a politically explosive issue in


Arab banks expanding in ME as global rivals retreat

Big Arab banks with money to spend are expanding across the Middle East in markets such as Egypt and Iraq, as they take advantage of a retreat from some areas by major international rivals, senior Arab bankers say. Since 2011, some global banks have downsized some of their busine


Apps link people with new places in real world

Tired of the same restaurants and clubs? Not sure if friends would want to venture to a new cafe or bar? New apps show where people want to go, rather than where they have been. Superb, an iPhone app that launched last week, lets users create lists of popular places they would li


Vision of networked society 'will be realised by 2020'

In the year 2020, the global landscape will include nine billion people, over eight billion mobile broadband subscriptions and 1.5 billion homes with digital television, with analog almost history. The vision of the Networked Society will be realised as more than 50 billion conne


Global sukuk market 'lacks integration'

The sukuk market operates as a collection of local markets because of lack of integration and the Malaysian market remains the strongest by far, according to a Standard & Poor's Ratings Services report. Over 40 per cent of worldwide issuance in 2013 was short-term sukuk i


Non-oil sector boosting Abu Dhabi housing market

Growth in key non-oil sectors such as tourism, hospitality, education and healthcare is translating into robust demand in terms of the volume and nature of property requirements in Abu Dhabi, a report said. The non-oil sector continued to expand its share of the economy, accounti


In cloning first, stem cells made from adults

Scientists have moved a step closer to the goal of creating stem cells perfectly matched to a patient's DNA in order to treat diseases, they announced, creating patient-specific cell lines out of the skin cells of two adult men. The advance, described online in the journal Ce


Women in Gulf begin to crack 'glass ceiling'

Amina Al-Rustamani, a member of a prominent UAE family, raised eyebrows among friends and relatives when she started her career in Dubai 13 years ago as an electrical engineer, becoming one of few females in the Middle East to enter the profession. Success in a male-dominated env

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