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Real Estate Property
Real estate speculators need to be rooted out of Dubai's housing market, and introducing a 50 per cent capital gains tax on properties bought and sold within a period of 12 months could be the best way to discourage short-term speculators, Standard Chartered Bank said yesterday.
Oil & Gas
Dubai oil retailers Emirates National Oil Company (Enoc), Emirates Petroleum Products Company (Eppco) and Emarat may cut diesel prices marginally in line with the recent drop in global oil prices, industry sources said on Thursday.
Trade
The size of Pakistan-UAE bilateral trade touched $7 billion in the last fiscal year ended June 30 with the balance of trade in favour of the UAE, Pakistan's outgoing ambassador to the UAE Ahsan Ullah Khan said.
Industry
Rio Tinto Group, the world's second-largest aluminum company, said a planned $3 billion smelter in Abu Dhabi is "dead" after the UAE decided to use its natural gas in more-profitable industries.
Banking and Finance
National Bank of Abu Dhabi (NBAD) said yesterday its net profit for the April to June second quarter rose 72 per cent to exceed Dh1 billion for the first time.
Telecom
du on Thrusday reported Dh908 million revenue in the second quarter and said its subscriber base increased 32 per cent from previous quarter.
Markets
Gains in real estate stocks in anticipation of strong earnings result of Sorouh Real Estate Company lifted Abu Dhabi shares yesterday, closing higher for the second straight session.
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Columns/Business
The non-rich could find the flying tough in future as the airline industry is faced with new pressures.
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