Rising rents in Dubai: Speculators, holiday home owners opting for long-term rentals of their properties

Speculators and holiday homeowners who used their Dubai properties just a couple of times in a year are increasingly opting to rent for full-year it out to benefit from the spike in rental returns. “With the increase in rentals, long-term speculators or holiday home owners who come twice a year to Dubai to their holiday…

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Saudi defense minister discusses military escalation in region with US counterpart

RIYADH: Saudi Arabia’s Defense Minister Prince Khalid bin Salman discussed the military escalation in the Middle East on Sunday with his US counterpart during a phone call. The call comes after Iran launched a wave of missiles and attack drones against Israel overnight Saturday to Sunday. Prince Khalid and US Secretary of Defense Lloyd Austin…

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Iran Claims Pre-Attack Warning to Israel; US Disputes Accusation

WASHINGTON/BAGHDAD/DUBAI: Turkish, Jordanian and Iraqi officials said on Sunday that Iran gave wide notice days before its drone and missile attack on Israel, but US officials said Tehran did not warn Washington and that it was aiming to cause significant damage.Iran launched hundreds of drones and missiles on Saturday in a retaliatory strike after a…

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UAE President Engages Regional Leaders in Discussions Over Gaza Crisis

UAE President, Sheikh Mohamed bin Zayed Al-Nahyan, held telephone discussions on Monday with regional leaders, including Sheikh Tamim bin Hamad Al-Thani, Emir of Qatar, King Abdullah II bin Al-Hussein of Jordan, and King Hamad bin Isa Al-Khalifa of Bahrain. They addressed pressing regional issues, particularly the escalating crisis in the Gaza Strip, and the urgency of…

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Thousands gather in Iran in show of support for attack on Israel

TEHRAN: Thousands of Iranians took to the streets of Iran early Sunday in a show of support for the unprecedented drone and missile attack under way against arch foe Israel.“Death to Israel!” and “Death to America!” chanted demonstrators in Tehran’s Palestine Square shortly after the Revolutionary Guards announced the launch of Operation Honest Promise.A mural…

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Saudi Arabia’s point-of-sale transactions grew 20% to reach $14.33bn in February 

RIYADH: Payments made through point-of-sale terminals in Saudi Arabia experienced a notable 20 percent annual increase in February, totaling SR53.72 billion ($14.33 billion), the latest data showed.    According to data released by the Saudi Central Bank, the largest portion of POS spending in February was allocated to beverages and food, comprising 15.7 percent of the…

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