Dubai Investments raises foreign ownership cap to 35%April 24, 2014

Dubai Investments, the largest investment company listed on the Dubai Financial Market (DFM), has raised the foreign ownership limit in the company from the existing 20 percent to 35 percent.

A proposal to this effect was approved at the 18th annual general meeting and extraordinary general meeting at Dubai Investments House, according to a press release received here.

The company also approved a proposal to distribute 7 percent cash dividend and 7 percent bonus shares for the year ending December 31, 2013.

The AGM also re-elected the same board of directors for a term of three years.
The board includes Sohail"...

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Just 1 bank sent client data in last 2yrs - UAE credit bureauApril 24, 2014

A UAE government platform that will allow financial institutions to check consumers’ creditworthiness before lending to them has reported that just one of the country's 46 banks has submitted data on its clients’ credit history over the last two years and urged the remaining lenders “to follow suit”.

Al Etihad Credit Bureau (AECB), a federal government company specialised in providing UAE-based credit reports and other financial information, said a "large number of banks" have not yet completed the process"...

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UAE can be bridge for Azerbaijani businessmen to enter Middle East markets

Another business forum between Azerbaijan and the UAE will be held as part of the joint intergovernmental commission on trade-economic and technical cooperation.

Azerbaijani Minister of Economy and Industry Shahin Mustafayev made this proposal at a meeting with a delegation led by deputy head of Dubai's Chamber of Commerce Hisham al-Šírava in Baku.

Baku hosted a round table discussion on the development of retail and franchising. It was organized as part of the visit of a delegation of Dubai's Chamber of Commerce (an organization engaged in the development of the business sphere and the protection of business interests in the UAE).


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Across-the-board salary hike pumps up fuel station staff

Hundreds of employees working in the convenience stores and forecourts of Adnoc Distribution are jubilant after receiving an across-the-board salary hike, ranging from Dh600 to Dh1,000.

Speaking to Emirates 24|7, several fuel station workers of Adnoc and Emarat (which was recently acquired by the Abu Dhabi-based fuel distribution firm) said they are elated after receiving a couple of salary hikes in recent months.

"Now I am taking home more than Dh3,000 per month compared to Dh1,200 or Dh1,400 earned by my friends in other fuel marketing companies. Many of them want to join our company now because of the salary difference. We are expecting"...

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More UAE schools take part in environment competition

The theme this year, Think. Eat. Save. has been inspired by the theme set by the United Nations Environment Programme for World Environment Day.

The annual Environment Competition for public and private schools and universities organised by the Environment Agency - Abu Dhabi (EAD) has got significantly bigger, with 14 times more entries than when it first started 13 years ago.

The inaugural competition back in 2000-2001 had 47 schools"...

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Parents in UAE question personal and legal survey on school pupils

School officials at the Abu Dhabi Education Council have been conducting a survey among secondary students that asks personal and legal questions, in turn raising questions among parents.

The “Youth Risk Behaviour Survey”, which Adec called a health-and-safety survey, asked Cycle 3 students – grades 10, 11 and 12 – more than 100 questions. In a memo issued on April 14, teachers were asked to administer the survey to children in computer-science classes."...

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