DAMAC Denies Misreporting Statment of Reuters and Blooberg

Statement from DAMAC on misreporting by Reuters and Bloomberg today stating DAMAC has sold a 40% stake in the company
Zawya - United Arab Emirates
We have been highly disappointed by Reuters and Bloomberg, for news wires of such an international stature to publish a story without speaking to us and believing a report in a newspaper from a non-existing DAMAC employee/subsidiary in Turkey. ...

Arabtec UAE May Cut 5,000 Jobs

UAE: Arabtec Might Cut 5,000 Jobs In Coming Weeks
Zawya

A wave of project cancellations and delays are leaving staff at construction firm Arabtec uncertain over whether they will be made redundant.

A senior source at the company said that there was speculation that some 5,000 workers could be laid off in coming weeks.…

Dubai's Ruler Bought Stake in Private Developer Damac Properties - Reuters

Dubai ruler buys stake in Turkey's Damac- paper
Reuters - USA
ANKARA, Dec 12 (Reuters) - Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum has bought a 40 percent stake in private developer Damac Properties that plans to invest $6 billion in a Turkish coastal project, Vatan daily said on Friday. ...

US Wants to Sign Nuclear Deal with UAE Soon

US Plans to Sign Nuclear Pact With UAE
Wall Street Journal - USA
The Bush administration plans to sign its first nuclear-cooperation agreement with a Middle Eastern nation within the next few weeks, according to a senior U.S. official, raising concerns among congressional critics who say the deal could fuel nuclear proliferation in the region. ...US President George W. Bush's administration plans to sign a nuclear cooperation deal with the United Arab Emirates, the first such ...

 

Report Q4 2008 - United Arab Emirates Information Technology

United Arab Emirates Information Technology Report Q4 2008 - companiesandmarkets.com adds new report
Live-PR.com (Pressemitteilung) - Wein, Austria
Market Overview The UAE's IT market is projected by BMI to reach a value of more than US$4bn by 2012, on the back of investment fuelled by new oil revenues. Despite an anticipated slight easing in economic growth after 2009, total spending on IT products and services should grow at a CAGR of around 11% over the 2008- 2012 forecast period. ...

Top Three Property Investment Destinations

Egypt's real estate market catches global attention
GulfNews - Dubai, United Arab Emirates
Sam Zell, the property moghul who made billions in 2007 when he sold his Equity Office Properties (EOP) portfolio to Blackstone for $38 billion, recently shortlisted the top three property investment destinations - Brazil, China and (surprise!) Egypt. ...