Category: Featured

Reached the IPO in the first initial public offering DFM supply 36 such as an index of the stock on a huge turnout among retail investors amid a boom in the economy of the emirate.

Said Jamal Al Hai chairman of the founders of the company brand in a statement on Friday that investors subscribed with a value of ten billion dirhams ( 2.7 billion dollars) to ask the company ILFC 275 million shares at one dirham per share . And will refund the excess to the IPO investors .

The initial public offerings dried up in Dubai when the financial crisis erupted five years ago and since then have led to restrictions the terms of the insertion direction of several UAE companies to listing in London rather than the domestic market.

But Dubai’s economy recovered and the Dubai Financial Market Index high 51 percent since the beginning of the year , making it the main bourse strongest in the world . The brand launch opens the door to further similar operations in the coming months .

The brand says it will use the IPO proceeds to open more than 100 stores , fashion and restaurants and cafes in the United Arab Emirates and the Gulf region over the next five years.

And the collection of the initial public offering of 55 percent of the company’s capital and contributed for the remaining 151 founding some of them prominent businessmen in the UAE. Bankers say that the brand targeted list its shares on the Dubai Financial Market in the first week of June.

Last month saw the NASDAQ Dubai – the youngest of the stock market stock market in Dubai – the first initial public offering since the financial crisis when it sold shares worth Rhett Emirates 175 million dollars was oversubscribed by 3.5 such supply.

Dubai: A new project is now underway in the middle of Dubai Creek — Aladdin City — as part of the first phase of construction.

While Dubai Creek is currently bidding to become a Unesco World Heritage Site, officials confirmed that the project is being built outside the restricted zone and will not have any impact on the creek’s bid.

“The symbolic content of the architectural form of the project buildings was inspired by the ancient legends from the 11th century, where vessels were sailed from Dubai Creek to the coast of East Africa, India and China. It may have been here where the tales of Sindbad and Aladdin came from,’ said Hussain Nasser Lootah, Director General of Dubai Municipality.

The project will includes commercial offices and hotels in three towers spread over a distance of 450 metres. Lootah yesterday announced that the project is located within the traditional commercial vessels port at Dubai Creek in Al Rigga, out of the old area of Dubai city, and also includes several facilities, such as parking buildings.

“The development of such a project in this area will have a global cultural and historical impact and pride for generations to come and will contribute to the progress of the emirate and its dream to be No 1 in everything in accordance with the vision of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai,” said Lootah.

The project’s deadline has not been specified.

Tourism

He pointed out that the project aims to develop the towers to become iconic structures that represent the beauty and tourism of the city.

“It is located at a prime location of Dubai Creek, which maintaines the activities of the port heritage. It is expected to boost Dubai economically in its long-term goals by increasing tourism in the emirate, especially to Dubai when we are going to host Expo 2020. The land use will surely be better in the project area which in turn will serve the objectives of the Municipality in bettering exploitation of the land uses in the emirate,” said Lootah.

He explained that the challenges of the project involved avoiding the crowded docks, as authorities wanted to provide visitors with the ease of walking over the port of the abras and ships to watch the harbour, without disrupting work.

The project will also overlook the modern skyscrapers and Burj Khalifa alongside Shaikh Zayed Road.

Three towers of the projects will be built in 110,000 square metres, with the highest tower having 34 floors. The other two towers will have 26 and 25 floors respectively. A total of 900 parking spots will be provided for the whole project.

The prices of futures contracts for crude oil on both sides of the Atlantic on Thursday, with the rise of U.S. crude more than $ touching its highest level in three weeks in light of strong U.S. economic data and the end of the refinery maintenance season, which indicates the strength of demand for crude.

Data showed that the U.S. economy grew at a faster pace than previously expected in the last quarter of the year and that the number of Americans filing first-time applications for unemployment benefits unexpectedly dropped last week to its lowest level in nearly four months.

The price of Brent crude heading towards $ 108 a barrel, supported by fears of supply disruptions due to the possibility of the imposition of Western sanctions on the Russian energy sector.

The United States and the European Union agreed on Wednesday to work together for the possibility of imposing new economic sanctions in response to Russia’s intervention in Ukraine while reducing Europe’s dependence on Russian gas.

He warned U.S. President Barack Obama during a press conference that the “isolation and sanctions will deepen” on Russia’s largest oil producer in the world if it continues its current course in Moscow.

At 1533 GMT, the price of Brent for May delivery 66 cents to 107.69 dollars per barrel.

The price of U.S. crude for May delivery $ 1.38 to U.S. $ 101.64 a barrel after it rose $ 1.07 in the previous session

An official of the Department of Economic Development Dubai on Monday that the emirate’s economy is expected to grow 4.7 percent in real terms this year and then accelerate to five percent in 2015.

According to official data from previous economy grew 4.9 percent on an annual basis in the first half of 2013.

International Monetary Fund raised its forecast for economic growth in the UAE this year to 4.5 percent , but warned of a potential real estate bubble if the authorities fail to act diligence .

The IMF said on Thursday that the GDP growth of the UAE will remain strong and at the same level estimated for 2013 is now supported by constantly momentum in the non-oil activity . He added that the oil fueled growth is slowing down because of the abundance of global supply .

Wenger said Harald Head of Mission Fund at the end of a visit to the UAE , ” the real estate sector in particular rebound sharply with the rapid rise of prices in the Dubai market for residential properties in certain areas . ”

In October, the IMF forecast , which is based in Washington, recording GDP adjusted for inflation , the third -largest oil exporter in the world growth of 3.9 percent in 2014 and 4.0 percent in 2013.

Analysts in a Reuters poll this month to stabilize growth in the United Arab Emirates at 4.3 percent in the period from 2013 to 2015.

He also said the IMF is expected to deliver growth in support of giant projects – although the total cost and the survival of the pace of implementation and funding is uncertain – and Dubai to host Expo 2020.

Wenger said: ” If it is not the implementation of these projects is discreet , it could exacerbate the risk of a property bubble ,” echoing warnings issued by the Fund in November and June last year.

Not all of us know how to shop smart; most of us usually spot something we like and run towards it like a mosquito to light. In shopping festivals that could be the worst thing you can do to your wallet. Here are 10 tips we’ve put together for you to take FULL advantage of the sales this season:

1. Don’t buy what you don’t need: most of us buy things just because they’re cheap and affordable. It doesn’t matter if we’re going to wear them or not, we just get them anyway because they’re 80% off. That’s a very common mistake that you should avoid if you want to save money in sale season. Remember, a bargain is not a bargain if you won’t wear/ use it!

2. The salesperson is NOT your friend: no matter how smiley, friendly, supportive, and frank this person is, in the end they’re there to SELL you something. Don’t take their advice/ opinion to heart. Follow your gut, if you think something is too expensive, not worth the money, or doesn’t feel right on you, don’t buy it!

3. Don’t buy on impulse: impulse buying is very common during sales season and shopping festivals. Before you purchase anything, ask yourself this: do I REALLY need it?!

4. Don’t shop when you’re bored, hungry, lonely, or upset: you’ll end up buying things you don’t need. Shopping is usually associated with a mood boost and that’s why women tend to shop when they’re not feeling really well. Over-shopping will not only leave you broke, but you’ll end up hating yourself the next day.

5. Avoid peer pressure: go shopping alone, taking a friend/ partner with you might alter your decision making process. When looking for clothes/ shoes to buy, you want something that YOU like, something that YOU would wear, something that YOU want, not anyone else. If you’re the kind of person that gets easily influenced by people’s opinions, go shopping alone.

6. Pick a right time: don’t go shopping right after work. Pick the right time to hit the stores (either really early, once the shops open, or really late) to avoid crowdedness. Shopping in a crowded environment could get you anxious and ruin the shopping experience for you.

7. Set a timeframe: don’t hit the mall for 7 hours straight. Set a time frame to avoid aimless wandering around the mall and shopping out of boredom.

8. Pay in cash: using your credit card will definitely cause you to over shop! Research suggests that paying with credit card causes us to shop more by at least 20- 50%. When you pay with cash, you’ll keep count of what you spent that day and how much you spent on what.

9. Set a budget: put a maximum limit for expenditure. Keep your budget in check by leaving the house with only that money, when you run out of money, you’ve hit the budget ceiling. Setting a budget will make you prioritize and will stop you from over shopping.

10. Buy what you NEED! Create a shopping list, a list of everything you’ve wanted to buy but didn’t have the money for. That shopping list will help you buy only the things you need. It’s ok to shift away from that list on one or two items as long as they’re within your budget but then again, sticking to the list will guarantee that you bought the things that will be of benefit later on.

Witness the smartphone market overheated competition among manufacturers that are trying to meet the needs and requirements of users who seek to excellence , both in terms of design or features .

Colors and play smart phones a major role in stirring love buying the consumer because of the psychological effects of which are reflected in some of the colors , most notably the golden color granulated to many because of the value of physical gold .

Previously, the two companies Samsung and Apple that ever put phones colors golden distinctive especially for my Galaxy S 4 and iPhone 5 OS , and won the Iqbal widely by consumers , but the company HTC Taiwanese raised the ceiling and exposed the phone ” HTC and” made ​​carat gold 24 carats.

But it would be gold on a whim to wait before being able to buy this phone very exclusive , which launched only two copies of it in New York , according to the website ” Mashabl ” specialist technology news .

It is reported that nearly three months ago , put up a branch company in Britain, 5 copies of the phone itself , but is made of 18 carat gold , the price came to 4416 dollars per phone .

The euro rose to near the highest level in a month against the dollar and the highest rate in four years against the yen on Wednesday as investors test the upward trend before the U.S. holiday this week .

And supports the euro rising short-term rates . And increased interest rates on loans denominated in euro between banks on Tuesday after checking excess liquidity in the financial sector to the lowest level in more than two years .

And contributed to the renewed pressure on the U.S. dollar at the height of the euro to the highest level in a month at $ 1.3600 , the highest price since October 31 , but failed to overcome resistance at this level and later scored upwards of 0.2 percent to 1.3592 dollars.

Against the yen, the dollar recovered part of its losses and rose 0.2 percent to 101.53 yen , but lower than the highest level in six months 101.91 yen hit on Monday

Janet Yellen defended its comments stimulus for the U.S. central bank, and boosted risk appetite and Wall Street reached record highs on Thursday.

The U.S. trade deficit expanded to $ 41.8 billion in September from a deficit of USD38.7 billion in August.

came out euro fell against the dollar after weak GDP in the euro zone. The data showed growth in the third quarter from a 0.1 percent rise.

The finance ministers will meet in Brussels for a second day on the outline plans for dealing with the banks that are still difficult. The British Pound was under pressure after disappointing retail sales data in the United Kingdom on Thursday.

Retail sales fell 0.7 % in October , compared with expectations for a 0.1 % increase . Recovery of stocks hurt the yen , which hit 2 – MTH low versus the dollar, in the second week against the euro, and the yen’s weakness more so after the finance minister said Aso said the country has custody intervene in the currency as a policy tool .

Canada ‘s trade deficit fell more than expected in September for CAD 0.44 billion from a deficit of CAD1.09 billion in August . Following the release of the data, the Canadian dollar remained lower against its U.S. counterpart .

In commodity markets, Brent crude for the third consecutive amid concerns about crude supply disruption in Libya. Gold prices fell slightly in Asia on Friday as investors sought to take from moving between gains overnight on expectations of continued easy monetary policy in the United States

Calendar quiet compared to Wednesday and Thursday. It is estimated in the euro zone the final consumer price index for the month of October that up to 0.7% on an annual basis, the same as the initial number. in the United States, is expected to rise to 5.00 from 1.52 industrial production for the month of October to be up 0.2% on a monthly basis, a slowdown from 0.6% in September to the Empire State Manufacturing Survey for the month of November. We have only two speakers today by the European Central Bank. , the European Central Bank is talking about monetary policy, while the ECB speaks at the annual conference of 6 CFA Institute European Investment.