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    Dubai ranked among world's most powerful cities

    Dubai's status as a regional hub has been reaffirmed with the emirate being ranked among the world's top 25 cities in Global Power City Index (GPCI) 2017 on the back of its strong economy, accessibility and cultural interaction.

    Released by the Mori Memorial Foundation's Institute for Urban Strategies, the emirate has been ranked for the first time in the index at No 23 among the 44 cities, surpassing some of the major Western cities such as Barcelona, Boston, Madrid, Vancouver,"...

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    Half of UAE residents cannot afford future health bills, Cigna survey revealsOctober 17, 2017

    Almost half of UAE residents fear they cannot afford medical expenses for themselves or their families that are not covered by the mandatory employee policy, according to a new survey from the insurer Cigna released on Monday.

    According to the 2017 Cigna 360 Well-being Survey, 47 per cent of respondents in the country said they lacked confidence to meet future healthcare costs for the family.

    Meanwhile 45 per cent of respondents said they pay medical expenses out of their own pocket, compared to 37 per cent who say their employer-provided policy covers their medical expenses.


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    Dubai welcomes over 9m visitors in first seven monthsOctober 17, 2017

    Dubai's visitor numbers have continued to rise at an impressive rate, recording a total of 9.2 million during the first seven months of 2017, a 7 per cent increase on the 8.4 million travellers received in the same period in 2016, according to a report by the global real estate consultancy CBRE.

    This was driven by substantial increases in tourist arrivals from Russia (96 per cent), China (53 per cent), Iran (23 per cent) India (21 per cent) and Jordan (21 per cent). However, declines were noted for some regional markets, including Oman (down 27 per cent) and Saudi Arabia (down 2 per cent), which reflected the ongoing challenges in the Middle East economy at this time.

    India remains the emirate's"...

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    Nesma Telecom plans digital telecom towers in UAE

    Nesma Telecom & Technology, a subsidiary of Saudi Arabia-based multinational conglomerate Nesma Holding, has revealed its plans to foray into the UAE market with digital telecom towers that can carry the devices of more than one GSM operator.

    Nesma Telecom has partnered with Eurostar Group, Dubai-headquartered leading digital and consumer technology innovator in the Middle East, aimed at helping the UAE telecom partners to implement eco-sustainable and socially responsible practices by reducing energy consumption.

    Nesma Telecom & Technology is a leading full-service communications technology company providing state-of-the-art turnkey solutions for ICT needs. The company is now expanding"...

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    Dubai Motor Show to get world premiere of Infiniti's new QX80

    Luxury brand Infiniti is set to hold the global launch of its next-generation QX80 at this year’s Dubai International Motor Show.

    Infiniti, the luxury division of Japanese automaker Nissan, describes the new vehicle - which will be its largest ever SUV - as having “powerful proportions, commanding exterior design, a luxurious cabin and a hand-crafted interior”.

    “INFINITI’s design DNA has been scaled up for our largest SUV,” said Alfonso Albaisa, senior vice president, Infiniti Global Design.


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    United Arab Bank swings to third quarter loss as net interest income drops

    United Arab Bank (UAB), the Sharjah-based lender in the midst of restructuring following a spate of losses from debt gone sour because of the oil price crash, swung to a third quarter loss amid a drop in net interest and foreign exchange income.

    The bank posted a loss of Dh5.39 million in the third quarter compared to a profit of Dh16.98m in the same period last year. Net interest income fell 12.2 per cent to Dh130m in the three months ended September from Dh148.1m in the same period last year. Foreign exchange income dropped 37 per cent to Dh10.3m in the third quarter from Dh16.34m in the same period last year, it said.


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    Middle East airlines to spend $600 billion on new planes by 2036

    Middle East airlines will spend about US$600 billion on new aircraft in the next 20 years, amid projections that the fleet size of the regions’ carriers will more than double to 3,320 aircraft over the period, Airbus said in a global forecast report.

    The region’s carriers will require around 2,590 new aircraft by 2036: 520 to replace older planes and 2,070 to cater to forecast growth, the manufacturer predicted. This projection in demand includes 1,080 twin-aisle aircraft, the same number of single-aisle aircraft, and 430 very large planes.

    Airlines in the region"...

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