The 1st Threadneedle Dubai Gold Cup
The 1st Threadneedle Dubai Gold Cup had some of the best polo professionals and horses taking part at the Dubai Polo and Equestrian Club on Friday, 12 March. The event is aiming to rank alongside others, already established championships held in UAE, such as the Dubai Desert Classic, Dubai Tennis Championships and the Dubai World Cup. The 1st Threadneedle Dubai Gold Cup will become very important sporting event on Dubai’s calendar, as there are very few Gold Cups held all over the world, according Mohammed Al Habtoor, “in England, in Spain and at Palm Beach”. Now, the Dubai Gold Cup joined the list.
Current Backdrop in Inflation could trigger Hyperinflation in two years from now
The latest BofA Merrill Lynch Global Research report, titled “BofA ML Economics – Global Economic Weekly: Cooling Core” dated 8 March, authored by the Global Economics Team at BofA Merrill Lynch Global Research focuses on backdrop in inflation worldwide. According the report, global economy continues to motor along in a modest recovery despite the distortions that have been introduced in the global data recently. Most regions continue to participate in a broad-based rebound in the manufacturing sector.
Important chapters of the report cover economic developments around the world.
Global Cooling core
A key part of the global economic forecast is that spare capacity will cause core inflation (ie, excluding food and energy) to continue to drop in most countries. This benign inflation backdrop means most central banks can focus on growth, delaying any tightening well into the economic recovery. Two years ahead, with core inflation well below target, a number of central banks will be in the odd position of seeking to boost inflation.
Aldar Properties sold assets to Abu Dhabi Government
Aldar Properties said on Tuesday it made no profit on the sale of property assets to the government for 9.1 billion dirhams ($2.5 billion) last year.
The emirate’s largest developer by market value said in February it sold certain infrastructure and property assets at its developement off the coast of Abu Dhabi, including the Yas Marina Formula One racetrack, to the government.
“These assets were sold at book value and therefore there was no profit recorded in the company’s financial statements,” it said on Tuesday.
Aldar made its first ever loss in the fourth quarter, of 570 million dirhams.
Moody’s cut the developer’s rating to Ba1 from Baa2 with a negative outlook, as part of a downgrade of seven Abu Dhabi-linked companies which it pinned on a lack of explicit state support.
Earlier this month, Citigroup cut its price target for the developer to 7.7 dirhams from 8.6 dirhams.
Economy »
Ministry of Economy’s Customer Service Center serves 18,280 customers in 2009
UAE Ministry of Economy reported that 18,280 customers were served by the Customer...
Construction »
Mubadala and Aldar announce main contractor for Cleveland Clinic
Mubadala Healthcare, a business unit of Mubadala Development Company PJSC (Mubadala),...
Transportation »
Traffic Accidents Mortality Rate in Dubai drop from 21 to 12.7 cases per 100k of population
H.E. Mattar Al Tayer, Chairman of the Board and Executive Director of Roads &...
Oil & Gas »
Asia-Pacific Oil and Gas Pros Lead Industry in Workplace Adoption of Social Media, Reports Microsoft-Accenture Poll
Findings reveal Europe, Middle East and Africa on board mostly for finding resources;...
Banking »
Dubai Bank partners with Department of Economic Development to offer exclusive payment support
Bank authorised to receive payments on behalf of DED at all Dubai Bank branches Customers...
Markets »
Dubai shares surged 3.72%
Dubai Financial Market General Index (DFMGI) ended Sunday’s session on a high note,...
Industries »
Investing in the UAE: GE and ADAT Expand Gas Turbine Repair Services Capabilities in the Middle East
Gulf Turbine Services L.L.C Joint Venture in Abu Dhabi Adds Advanced Technology...
Technology »
Double-Take ® Software announces series of seminars with Microsoft and Intel on Recovery and Continuity for Hyper-V and Exchange 2010
Events in Abu Dhabi and Dubai Provide Opportunities To See Latest Virtualization,...
The Cultural Observer »
Seventh edition of Dubai International Film Festival to be held from Dec. 12 to 19, 2010
Diverse showcase of movies from around the world planned The seventh edition...
Health »
First Middle East Pain & Inflammation Academy held in Dubai
Two day initiative focused on sharing best practice, latest advances, challenges...
Education »
IMF Holds Middle East Youth Roundtable in Sharjah, UAE
Students from the American University of Sharjah met today with staff from the International...
Kids »
Alice in Wonderland debutes in Dubai
The premiere of Tim Burton’s Alice in Wonderland made its debut in Dubai yesterday....
