Matt's Feed
Sep 1, 2015

Iranian investment in Dubai property to rise if sanctions ease -report

DUBAI, Sept 1 (Reuters) – Iranians are likely to become
major buyers of Dubai property again if sanctions against the
Islamic Republic are lifted, providing a much-needed fillip to
the emirate’s real estate sector, consultants Cluttons said.

Dubai property prices have fallen slightly this year, ending
a sustained rebound from 2008-9 crash after tougher regulations
to deter speculators, a slump in oil prices and weakening
confidence in the global economy dampened sentiment.

Aug 31, 2015

Dubai Deyaar says banks to finance 30 pct of its $817 mln project

DUBAI, Aug 31 (Reuters) – Dubai’s Deyaar Development
will fund 30 percent of its $817 million Midtown
project through bank loans, the real estate firm’s chief
executive said on Monday.

Midtown will target mid-income residents as Deyaar tries to
fill a gap in the market for more affordable housing.

Aug 26, 2015

Dubai property slowdown due to tighter rules, not oil slump

DUBAI (Reuters) – Dubai’s tighter property rules aimed at preventing a housing bubble are the main cause of a slowdown in the emirate’s real estate sector rather than a sustained drop in oil prices, industry experts said.

Dubai has a low reliance on oil despite hydrocarbons providing three-quarters of the United Arab Emirates’ consolidated revenue in 2014, according to credit agency Moody’s. Abu Dhabi is home to the bulk of the UAE’s energy reserves.

Aug 20, 2015

Vodafone drops out of bidding for Lebanese mobile contract

DUBAI, Aug 20 (Reuters) – Vodafone Group has
scrapped its interest in obtaining a management contract to run
one of Lebanon’s two state-owned mobile operators, the UK-based
company said on Thursday.

Vodafone’s withdrawal, which the company revealed in an
emailed response to questions from Reuters, is a blow to
Lebanon’s telecoms ministry, which has been seeking long-term
agreements to manage the two operators for more than two years.

Aug 19, 2015

UAE’s Etisalat says no voting rights for foreign shareholders

DUBAI, Aug 19 (Reuters) – Etisalat will not extend
voting rights to foreign shareholders when the United Arab
Emirates’ former telecom monopoly opens up its shares to non-UAE
investors, it said on Wednesday.

Etisalat is the largest listed UAE company by market value
and worth nearly double the second-biggest firm, but its shares
can only be owned UAE nationals and all institutions are
excluded.

Aug 18, 2015

Qatar delays reform to protect salaried workers: newspaper

DUBAI (Reuters) – Qatar has delayed introducing a new system designed to make sure firms pay salaries fully and on time, a Doha newspaper reported on Tuesday, as the country faces scrutiny over the rights of migrant workers building stadiums for the 2022 World Cup.

Since being controversially chosen to host the tournament, the desert nation has been criticized over workers’ safety, late and incomplete wages and the so-called ‘kafala’ system under which companies may stop employees from leaving the country.

Aug 13, 2015

Dubai invites designs for 60,000-capacity stadium – sources

DUBAI (Reuters) – Dubai has launched a competition to design a 60,000-seater stadium that will be built in the emirate to stage matches at soccer’s 2019 Asian Cup, three sources familiar with the matter told Reuters.

The Asian Football Confederation (AFC) in March awarded hosting rights for the 24-nation tournament to the United Arab Emirates, rejecting a rival proposal from Iran.

Aug 13, 2015

Soccer-Dubai invites designs for 60,000-capacity stadium -sources

DUBAI, Aug 13 (Reuters) – Dubai has launched a competition to design a 60,000-seater stadium that will be built in the emirate to stage matches at soccer’s 2019 Asian Cup, three sources familiar with the matter told Reuters.

The Asian Football Confederation (AFC) in March awarded hosting rights for the 24-nation tournament to the United Arab Emirates, rejecting a rival proposal from Iran.

Aug 11, 2015

Qatar to decide on World Cup stadiums by year-end: official

DUBAI (Reuters) – Qatar hope to decide how many stadiums it will use in hosting the 2022 World Cup by the end of this year, a spokesman for the organizing committee said on Tuesday.

Corruption allegations at soccer’s governing body FIFA have put renewed media focus on Qatar, although Qatari officials remain confident the tournament will go ahead as planned and development of the country’s stadium infrastructure continues.

Aug 11, 2015

Soccer-Qatar to decide on World Cup stadiums by year-end – official

DUBAI, Aug 11 (Reuters) – Qatar hope to decide how many stadiums it will use in hosting the 2022 World Cup by the end of this year, a spokesman for the organising committee said on Tuesday.

Corruption allegations at soccer’s governing body FIFA have put renewed media focus on Qatar, although Qatari officials remain confident the tournament will go ahead as planned and development of the country’s stadium infrastructure continues.