Dubai is picking up the mantle of the financial capital of the world, as global banking sectors London and New York continue to fade on the back of the global credit crises.
The new mantra in New York and London is “Dubai, Mumbai, Shanghai or goodbye”, as job losses mount in both cities while opportunities in [...]

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Dubai government investment agency Istithmar World Ventures has been “put off” looking for deals in the US and instead will seek new opportunities in Africa and the Far East, according to its CEO.
“I am looking at everywhere but the US,” Ahmed bin Fahad told magazine Arabian Business on the sidelines of the World Economic Forum [...]

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Ian Dobrin, managing director of OverseasPropertyJobs.com, said expatriates from countries such as England and Spain were flocking to the UAE as the Emirates’ real estate market continues to boom. “There is huge incentive for talented individuals from the West, where markets are coming off the boil, to pursue opportunities here in the UAE,” Dobrin said [...]

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Bemo Oddo Investment Firm, a newly-established banking firm at the Dubai International Financial Centre, is already in partnerships with some local banks to introduce their institutional clients to advisory consultations on mergers and acquisitions between local and European companies.
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Dubai, May 7 (IANS) The United Arab Emirates is likely to introduce a value added tax (VAT) system by early 2009, according to a senior official of Dubai Customs. “Having spent two years studying VAT around the world to ensure that what is proposed for the UAE and the GCC (Gulf Cooperation Council) is best [...]

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Dubai has launched a ambitious 200 billion-dirham ($54.4 billion) environmentally friendly real estate project stretching over 82 square kilometres, state news agency Wam reported on Friday. The project, called Mohammed bin Rashid Gardens, will be made up of four main clusters themed around wisdom, humanity, nature and commerce, with 73% of the total area - [...]

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Dubai’s Ibn Battuta Mall has achieved a ‘first’ in the city with the launch of its dedicated training programme for retailers.
The mall has turned to customer service and relationship management training for its tenant mix in a bid to “deliver a superior retail experience.” The training programme was developed following a decision by its management [...]

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Dubai developer Nakheel is to build a tower 1,200 metres high, comfortably surpassing the Burj Dubai as the tallest building in the world. Australian architects Woods Bagot, which was recently awarded a contract for the project, said the tower is to be located on the Arabian Canal, a $61 billion project being developed by Limitless.
Both [...]

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Sheikh Mohammed bin Rashid Al Maktoum the Ruler of Dubai met with Chinese President Hu Jintao on Monday, kicking off a four-day state visit to the People’s Republic. Jintao welcomed Sheikh Mohammed, also vice president and prime minister of the UAE, hailing the visit a boost to friendship and cooperation between the two countries, state [...]

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One of the world’s largest shopping malls is set to open towards the end of the year in the booming Gulf retail paradise of Dubai, developers said on Tuesday. The Dubai Mall - covering an area of around 1.1 million square meters - will feature 1,200 stores, an indoor aquarium and an Olympic-sized ice rink, [...]

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