(Bloomberg) — A desert city of gleaming skyscrapers and wealthy foreigners accustomed to packed, air-conditioned shopping malls, Dubai has developed an unexpected problem in recent years: empty storefronts. This 1,600-square-mile oasis of commerce has dozens of malls where visitors can shop while keeping cool. The fancier ones boast marble corridors lined with luxury retailers and[…]

DUBAI, United Arab Emirates — A desert city of gleaming skyscrapers and wealthy foreigners accustomed to packed, air-conditioned shopping malls, Dubai has developed an unexpected problem in recent years: empty storefronts. This 1,600-square-mile oasis of commerce has dozens of malls where visitors can shop while keeping cool. The fancier ones boast marble corridors lined with[…]

Frank Knight data for Q3 shows more signs of Dubai real estate market being close to bottoming out after a sustained downturn Prime property prices in Dubai have registered a small rise for the second consecutive quarter, as the market shows more signs of being close to bottoming out after a sustained downturn. According to[…]

CHONGQING: The 2,000 residents of Muhe, whose village was moved to higher ground a decade ago to escape the rising Yangtze river, have tried to make the most of their remaining land by planting orchards of oranges and persimmons along its banks. With just 110 hectares on the edge of Asia’s longest river, Muhe lost[…]

A female worker shall be entitled to maternity leave with full pay for a period of 45 days Image Credit: Getty Images/iStockphoto I have worked in a company for one year and I am currently six months pregnant. In the offer letter it said I couldn’t take maternity leave until I completed two years and[…]

By Saeed Azhar and Stanley Carvalho DUBAI/ABU DHABI, Nov 14 (Reuters) – HSBC Holdings HSBA.L has laid off about 40 bankers in the United Arab Emirates (UAE) and Emirates NBD is cutting around 100 jobs, as banks in the Arab world’s second-biggest economy reduce costs, sources familiar with the move told Reuters. The job cuts[…]

Emaar Development recorded slight dips in nine-month net profit and revenues — at Dh2.07 billion and Dh9.62 billion — from a year ago. Image Credit: Gulf News Archive Dubai: Emaar Development recorded slight dips in nine-month net profit and revenues — at Dh2.07 billion and Dh9.62 billion — from a year ago. The corresponding numbers[…]

DUBAI (Reuters) – DAMAC Properties, owner of the only Trump-branded golf club in the Middle East, reported on Wednesday a 78% drop in third quarter profit amid an extended slowdown in Dubai’s property sector. A supply glut has slowed the market for most of the decade, apart from a brief pickup more than five years[…]

The Damac stand at a recent Property show in Dubai. Damac Properties recorded a sharp decline (46 per cent) in nine-month revenues to Dh2.8 billion from Dh5.2 billion. Image Credit: Gulf News Archives Dubai: Damac Properties recorded a sharp decline (46 per cent) in nine-month revenues to Dh2.8 billion from Dh5.2 billion. Net profit was[…]

The continued growth of Dubai’s tourism industry has encouraged investors and homeowners to capitalise on the abundance of opportunities in the holiday homes market, leading to an exponential growth in short-term rental units in the emirate and adding to the broad range of accommodation options that are available for tourists. Dubai’s Department of Tourism and[…]