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  • Will it be a downsized Dubai that emerges from pandemic?

    Even before the crisis struck, Dubai was in a downturn. Property prices had slumped more than 30 per cent from 2014 highs, and bankers and analysts were speculating whether the “build it and they will come” model had run its course.

  • Dubai Expo 2020 world’s fair postponed to October 1, 2021

    Dubai’s Expo 2020 world’s fair will be postponed to Oct. 1, 2021, over the new coronavirus pandemic, a Paris-based body behind the events said Monday. The announcement by the Bureau International des Expositions came just hours after police in Kuwait dispersed what they described as a riot by stranded Egyptians unable to return home amid the coronavirus pandemic. The riot was the first reported sign of unrest from the region’s vast population of foreign workers who have lost their jobs over the crisis.

  • Dubai to welcome Middle East’s first Mormon temple

    Hend Al Otaiba, director of strategic communications at the Ministry of Foreign Affairs and International Co-operation, said the “UAE is proud to welcome the Latter-day Saints community to worship together with the future construction of a temple in Dubai.

  • Dubai and Saudi Arabia explore funding options amid coronavirus fallout

    Dubai is in the early stages of talks with banks about potential funding options as its economy suffers under the fallout from the new coronavirus, two sources familiar with the matter said. It has not issued a request for proposals but has approached banks in the past few days that have lent to the emirate previously to see if they can provide debt financing of $3 billion to $5 billion, one of the sources said. Dubai’s department of finance declined to comment.

  • Saudi Arabia cabinet approves MOU between SAMA and Dubai Financial Services Authority

    Saudi Arabia cabinet approves memorandum of understanding between Saudi Arabian Monetary Authority and Dubai Financial Services Authority in the field of financial services, according to Saudi Press Agency.

  • Dubai, Saudi Arabia, Morocco have temporarily waived airport slot rule – IATA

    Saudi Arabia, Dubai and Morocco have suspended a rule requiring airlines to use most of their scheduled services or else forfeit landing slots at airports due to the coronavirus outbreak, International Air Transport Association Africa and Middle East Vice President Muhammad Ali Albakri said on Thursday.

  • Dubai businesses, hurt by coronavirus, pin hopes on Expo

    Luxury car rental dealer Sheshan Gautham had a disappointing start to 2020 when nearly two thirds of his Chinese clients canceled bookings in January due to the coronavirus outbreak. The business, Uptown Rent A Car, took the hit and Gautham thought the worst was over. But then Saudi Arabia, his biggest source of customers, halted flights to and from the United Arab Emirates this week to stop the virus spreading.

  • Expo 2020 in Dubai Remains ‘On Track’

    The expo is set to attract millions of visitors and showcase Dubai as a global destination. The government has said it expects a boost to growth spurred by stimulus programs and projects related to the international exhibition fair, which is being held for the first time in the region.

  • Saudi Arabia’s Dar Al-Arkan lists $400m sukuk on Nasdaq Dubai

    On Wednesday, Nasdaq Dubai confirmed the listing of a $400m sukuk by Saudi Arabian property development company Dar Al-Arkan. Dar Al-Arkan reportedly has sold the $400m seven-year sukuk at 7 per cent. The latest listing raises Dar Al-Arkan’s total sukuk value listed on Nasdaq Dubai to $2bn, following the listing of a $600m sukuk in October 2019 and listings of two other sukuk of $500 million each in 2017 and 2018.

  • From Dubai to Mars, With Stops in Colorado and Japan

    While this spacecraft was assembled on American soil, it will not be exploring the red planet for NASA. Hope is instead an effort by the United Arab Emirates, an oil-rich country smaller than the state of Maine and one that has never sent anything out into the solar system.