Six new Palm Jumeirah hotels over the next 12 months
Dubai will open up to six new beachfront hotels on the Palm Jumeirah over the next 12 months, inevitably adding to room price competition and forcing down rates but securing the emirate’s position as the…
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Jim Rogers still not buying stocks
Abu Dhabi's Mubadala fund assets jump 75% to $24bn
The investment community has an understandable fascination with the usually secretive world of Abu Dhabi sovereign wealth funds. But although these private, non-listed funds are hardly likely to throw open their books to public scrutiny,…
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Alcohol back on the menu in Dubai restaurants
In a rapid U-turn the Dubai Municipality has reversed a ban on alcohol in food served in local restaurants and said there had been ‘a misunderstanding’. On Sunday an official had told several local media…
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Bahrain sacks minister under investigation for money laundering
The King of Bahrain Hamad bin Eisa Al Khalifa yesterday sacked state minister Mansour bin Rajab who is under investigation for alleged money laundering.
His arrest last Thursday caused uproar in Bahrain but by the…
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Dubai tightens up on public morality with no alcohol in food
Dubai restaurants have been banned from using alcohol in cooking, even when the existence of alcohol is warned on the menu, in the latest minor tightening up of public morality in what remains a Muslim…
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Global political consensus unravels threatening economic recovery
When the global financial crisis first struck 18 months ago there was a commendable consensus among the world’s politicians about the need to tackle the crisis, and the actions that followed have done much to…
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Damas bosses fined heavily with two tonnes of gold still missing
The Dubai Financial Services Authority has issued a landmark ruling that fined the three brothers who ran the Nasdaq-listed Damas jewelry company more than $3 million and requires them to repay $99 million in cash…
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Gold's next move is down says $5,000-an-ounce author
While firmly sticking to his forecast of $5,000 gold within the next few years, ArabianMoney editor and publisher Peter Cooper can see a three-month price correction as the next move for the yellow metal and…
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Art Dubai and the new vision of Dubai 18 months after the crash
Art Dubai 2010 presented a new vision of contemporary Dubai 18 months after the credit crunch that brought the real estate boom to a sudden stop.
Anybody who thought this city might be destitute ought…
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