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Aldar says subsidiaries can now own Abu Dhabi real estate - Dotemirates
1 week 4 day

Aldar says subsidiaries can now own Abu Dhabi real estate

Abu Dhabi developer Aldar Properties announced a new government decree on Monday allowing its subsidiaries to own real estate in the city. The developer said in a brief bourse statement that Abu Dhabi Crown Prince and Deputy Supreme Commander of the Armed Forces Sheikh Mohamed Bin Zayed Al Nahyan had issued the decree. “The decree states that effective 25 July 2018, a subsidiary company which is more than 50 per cent owned directly or indirectly by Aldar Properties may own real estate in Abu Dhabi,” the statement read. It was not immediately clear, which subsidiaries the decree would apply to....


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Business News

5 minute 7 second

Saudi Arabia seeks stable, not soaring, oil prices

RIYADH: Oil prices rose this week on continuing market tightness. With the price rise, some Saudi-bashing has begun. Bloomberg reported that increasing prices were due to Saudi Arabia’s comfort with Brent crude above $80 per barrel. Such “analysis” is hogwash. Due to market tightness, Brent rose to nearly $80 per barrel but deteriorated to $78.80 on Friday. WTI rose above $70 per barrel for the first time in three months and settled at $70.78 per barrel by the week closing.The average price for Brent crude per barrel over the past five months has been between $72.11 and $76.98. As may...
6 minute 50 second

Late to the party, German carmakers join race against Tesla

FRANKFURT: After years watching Tesla’s electric cars speed ahead while they have been on the defensive over an industry-wide diesel emissions scandal, German high-end manufacturers have finally unveiled their first challengers to the Californian upstart.Mercedes-Benz maker Daimler, BMW and Volkswagen’s Audi and Porsche subsidiaries between them control some 80 percent of the worldwide premium car market.But until recently they offered little battery-powered, zero-emission competition to Tesla and its bombastic chief executive Elon Musk.That changed this month, with all three groups unveiling their first all-electric SUVs slated for release over the next two years.Audi rolled out its “E-Tron,” BMW its “iNext”...
2 hour 32 minute

CSC suspends appointments in MGRP & PAM until the merger’

KUWAIT CITY, Sept 22: The Civil Service Commission (CSC) has suspended appointments in the Manpower Government Restructuring Program (MGRP) and Public Authority for Manpower (PAM) until the two institutions are merged, reports Al-Jarida daily quoting sources. Sources said the CSC refused to grant the salary scale for the newly-appointed employees in MGRP before the current budget took effect and asked them to work at PAM to avoid calls for retroactive salary scales. Sources disclosed some of these employees rejected the appointment and requested for inclusion on the waiting list rather than working in PAM. Sources affirmed the merger and financial...

2 hour 34 minute

MPW to disburse financial dues to firms, contractors

KUWAIT CITY, Sept 22: Disbursement of financial dues to the contractors and companies that carried out projects has been suspended by the financial supervisor for four months now, reports Al-Anba daily quoting a reliable source from Ministry of Public Works. The source explained that the total amount of these dues has reached nearly KD 600 million. Minister of Public Works Eng Hossam Al-Roumi reportedly asked head of the financial supervision department to change the financial supervisor of the ministry after he interfered in the authorities of the minister and undersecretary. Based on the recommendation of Minister of Public Works, the...
2 hour 39 minute

Irregularities continue in Al-Durra Co – ‘Anti-graft Authority need to step in’

KUWAIT CITY, Sept 22: The file of special transactions for board members of Al-Durra Domestic Recruitment Company has become akin to governmental transactions that are passed under the table or the government’s contracts with foreign countries that are conducted indirectly without a public announcement benefiting citizens who have applications that require intervention by the concerned authorities, reports Al-Qabas daily. Authorities such as Kuwait Anti- Corruption Authority are required to step in to find out whether or not there is abuse of authority, because some who are waiting to have their applications responded to are getting what they want with wasta...
3 hour 16 minute

Octogenarian's tailor-made tiny house offers a retirement home alternative

RN By Anna Kelsey-Sugg and Michael Mackenzie for Life Matters While Australia reels from stories of malpractice in the aged care sector, perched petitely in regional Victoria is a house that could serve as an alternative model to a retirement home.It's Merle's house — her tiny house, to be precise."I'm 82 years old and I can manage this easily, and I don't have to depend on carers," she says. "I am completely independent."A tour inside Merle's homeMerle moved into the tiny house earlier this year, and she hasn't looked back.Roughly 7 by 2.5 metres in dimension, her light-filled residence sits...