News Archive: economics

03, 2009 June:

Nakheel to merge

State owned developer Nakheel is to merge with the real estate arm of the Dubai Multi Commodities Centre because of current market conditions...

07, 2009 May:

Growth for RAK free trade zone

Ras al Khaimah reported an estimated 16 per cent increase in revenues in the first quarter of 2009, compared with the first quarter of last...

16, 2009 April:

Islamic banks need bailout

Islamic banks may require further bailouts if liquidity does not improve, leading bankers have announced...

09, 2009 April:

Dubai expats in trouble

Around 70 per cent of all UAE expatriates who own UAE property are now in negative equity, and would lose money if they attempted to sell their home now, according to a recent survey...

03, 2009 April:

HSBC to re-enter UAE

HSBC has announced that it will re-enter the UAE mortgage market and ease its lending rules, according to Arabian Business...

24, 2009 March:

Future of UAE

A future of the United Arab Emirate's two biggest mortgage providers is close to being decided with one of three options no longer being considered...

10, 2009 March:

Gulf widening in Middle East

More developers in the Gulf are considering consolidation, cancellation of projects and redrawing future plans as the global downturn shows no sign of lessening in the region...

29, 2009 January:

Delays in Abu Dhabi

Abu Dhabi's second largest property developer is delaying new projects until current developments are complete because of the economic downturn...

Distress to impress

Distressed selling - an urgent sale of assets due to negative market conditions - will ironically ensure that 2009 is a positive year for investors in the GCC and around the world, said senior executives at United States investment bank Morgan Stanley, which manages assets worth billions of dollars in the Gulf...

27, 2009 January:

UAE: new lending requirements

The largest bank in the Middle East has come under fire for putting up the minimum salary requirements for mortgages...

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