tag Dubai economy

Uber faces pressure in Dubai as regulator signs deal with rival

EghtesadOnline: Ride-hailing service Uber is under pressure in Dubai, one of the Middle East's major markets, after the emirate's transport regulator signed an agreement with local rival Careem and warned other such firms that they must do the same.
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Publish Date:05/October/2016 | 09:12

Dubai Newest Spectacles Hide Restrained Ambitions for Developers

EghtesadOnline: On the surface, Dubai is plowing ahead with the kind of ambitious, eye-catching projects that turned the sheikhdom into the Persian Gulf’s business hub and playground. At the tip of its palm-shaped island, a swimming pool suspended between two towers will hover 170 meters (560 feet) above the ground. Closer to the city center, “water homes” on stilts will line an artificial canal dotted with floating restaurants and gondolas.
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Publish Date:28/September/2016 | 07:32

Dubai Said to Seek $2.5 Billion Loans to Expand Metro for Expo

EghtesadOnline: Dubai is seeking $2.5 billion in loans to finance a 15-kilometer (9-mile) extension of its above-ground metro line to the World Expo site, according to two people with knowledge of the plan.
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Publish Date:21/September/2016 | 17:01

Dubai Said to Work With Citigroup on Sale of Bank Muscat Stake

EghtesadOnline: Dubai Financial Group LLC is working with Citigroup Inc. to find a buyer for its stake in Omani lender Bank Muscat SAOG after the sale was triggered by an agreement with creditors, according to people familiar with the matter.
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Publish Date:08/September/2016 | 09:43

Dubai’s Souq.com Said to Plan Stake Sale at $1.2 Billion Value

EghtesadOnline: Dubai-based online retailer Souq.com, known as the Amazon of the Middle East, is planning to sell a stake of about 30 percent that would give the company a value of at least $1.2 billion, people with knowledge of the matter said.
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Publish Date:08/September/2016 | 09:25

World’s Largest Indoor Theme Park Developer Said to Mull IPO

EghtesadOnline: Dubai’s Ilyas & Mustafa Galadari Group, owner of the world’s largest indoor theme park, is considering a 2017 initial public offering as it seeks to raise funds for the project, according to people familiar with the matter.
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Publish Date:07/September/2016 | 09:23