The United Arab Emirates central bank agreed to raise the cap on mortgage loans from an originally proposed 50 percent of a property’s value for expatriates, a person with knowledge of the matter said.
Emirates, the world’s largest airline by international traffic, expects an 18 percent to 20 percent increase in sales this year, and a 12 percent increase in the number of passengers, as it expands its operations in Asia, Al Khaleej reported citing an interview with Tim Clark, the president of the Dubai-based company.
Al Khaleej Sugar Co., owner of the world’s largest sugar refinery, stopped processing at its factory in Dubai because demand slowed and silos are full, according to Jamal Al Ghurair, the company’s managing director.
The United Arab Emirates’ Journalists Association denounced the defense lawyers for a group accused of conspiring against the government, saying they are putting pressure on local media, the state news agency WAM said.
Al Khaleej Sugar Co., the world’s largest sugar refinery, is selling raw sugar from Brazil back to the world market as it expands purchases from India, according to Fazalur Rahman, general manager of finance.
Sixty detainees in the United Arab Emirates confessed that they belonged to the Muslim Brotherhood and had received money from external groups to overthrow the government and install Islamic rule, Al Khaleej reported.
Emirates Telecommunications Corp., the state-controlled company known as Etisalat, will “soon” allow foreigners to own its shares, Al Khaleej reported, citing Group Chief Executive Officer Ahmad Abdulkarim Julfar.
Emirates Telecommunications Corp., the bigger of two phone companies in the United Arab Emirates, plans to bid for a licence to become Syria’s third mobile-phone operator, Al Khaleej reported, citing Jamal Al-Jarwan , the chief executive officer for Etisalat’s international investments.