Dubai’s property market is feeling a post-pandemic rush for $10m+ homes | Property – Gulf News
Highlights:
– If there were 19 deals in the whole of 2020 in the range of $10 million and above, there were already 22 such between January and May this year.
– Being cheaper is actually playing to Dubai’s advantage now. “The world’s wealthy have their eyes firmly set on the city, where a million dollars gets you five times more residential real estate than London, New York, or Singapore – which means accessing a luxury lifestyle is relatively more affordable”, said Durrani.
– With over 42,000 million dollar homes, Dubai is second only to London.
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Mubadala, Bpifrance enter into Africa-focused co-investment partnership – GCC Business News — www.gccbusinessnews.com
Highlights:
– The agreement, which was confirmed on the occasion of the 13th session of the UAE-France Strategic Dialogue, will facilitate the deployment of up to $414.73 million through fund and direct investments in private equity and venture capital, with a focus on high-growth African startups, SMEs and mid-caps.
– The duo has had a strong relationship since the launch of the French Emirati Fund in 2014 and the Innovation Partnership in 2017 with nearly $1.18 billion of joint investments in French companies (directly and through funds), and a $1.18 billion commitment by Mubadala into Bpifrance’s flagship Lac1 Fund dedicated to listed French multinationals.
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AlJurf Gardens
Find Out More About Living at AlJurf
AlJurf Gardens harnesses nature’s raw beauty and combines it with refined heritage-inspired architecture and contemporary design to present a sanctuary of wellness and calm. Throughout the villa spaces, the refined and controlled raw beauty of nature is repeated in different scales, to showcase its exquisiteness across every typology of homes, gardens and courtyards.
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Highlights:
– Numerous studies reveal that the world is on course to warm by about 2°C above pre-industrial levels by 2050 which could have serious economic consequences for the MENA region where water is already scarce.
– The region’s governments are therefore taking several measures and initiatives to tackle climate change.
– This includes the UAE’s energy strategy 2050, Saudi Arabia’s green initiative and Egypt’s 2030 strategy.
– Amazon MENA took the first step in its sustainability road map on Tuesday by launching its first solar rooftop in the UAE atop its largest fulfilment centre DXB3.
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Real Estate: Investors Chasing Housing Target Massive Pools of Airbnb Rentals – Bloomberg
Highlights:
– Investors hunting for returns in the frenzied U.S. real estate market are tapping a new strategy: building massive portfolios of houses to rent out on Airbnb.
– The business model has been proven, and now the opportunity is to do this at scale,” said Scott Shatford, CEO of AirDNA.
– Airbnb’s rise over the last decade inspired a generation of entrepreneurs who buy, furnish and manage vacation rentals on a small scale.
– Larger companies also sprung up, often focusing on managing properties as opposed to owning them.
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The Real Reason Millennials, Gen-Z Aren’t Becoming Bankers Goes Beyond the Hours – Bloomberg
Highlights:
– The real reason no one wants to work in banking isn’t just the terrible hours and a generational awakening. It’s that, like banks themselves, the work isn’t what it used to be.
– It’s a far cry from the fast-paced, creative dealmaking that eager new hires imagined they’d be doing.
– It’s true that frenzied trading over the past year has led to blowout earnings. Large volumes of deals, and the fees that go with them, have helped, too. But even if you find inspiration in the digitization of finance and fintech, the guts of the banking business remain plain-vanilla market-making and brokering. The sector is structurally stagnating.
– The ethos of risk-taking and growth made work thrilling for hotshot graduates of top schools. Businesses that minted money doing things like proprietary trading and balance sheet lending have been relegated to the past.
– As J.P. Morgan analysts wrote recently, increased regulation triggered more automation and led to “the human factor becoming less important unlike in a… highly bespoke world of financial industries.
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Instagram Influencer Hushpuppi’s Rise Was Allegedly Fueled by Cyber Scams — www.bloomberg.com
Highlights:
– On Oct. 11, 2019, the day he turned 37, he was living in a penthouse apartment at the Palazzo Versace Dubai, with a private pool and hot tub on his lanai.
– I have four jacuzzis in this house, a sauna, my private pool,” Abbas told the viewers back home. The apartment, he said, cost “hundreds of thousands of dollars for a year.”
– What does it mean to deserve such fortune as Hushpuppi’s? What type of work is commensurate with the riches of private jets and $5,000 handbags?
– The gambit was part of what’s known as a “business email compromise,” or BEC, attack: a lucrative, varied, and elusive scam the government claims Abbas and his co-conspirators have executed around the world. BEC scams are increasingly common and exceedingly difficult to stop.
– The government says that Alaumary, Abbas, and a loose online confederation of other figures—a group that at times included North Korean state-sponsored hackers—targeted hundreds of millions of dollars in payouts from businesses and banks, including more than $100 million from a single Premier League soccer club.
– BEC attacks started appearing roughly a half-dozen years ago, escalating each year until they surpassed all other forms of internet fraud.
– For a crime that causes more losses than any other form of internet fraud—40% of the cybercrime take in the U.S., according to the FBI—BECs retain a strangely low profile.
– Dubai police would announce that he’d been captured in one of six simultaneous raids that led to the arrests of 12 suspects. They claimed to have confiscated 47 phones, 21 laptops, $7 million worth of cars, and $40 million.
– The Dubai police were so pleased with the raid they quickly released a video of the affair styled as an action film trailer, titled Operation Fox Hunt 2, with versions narrated in Arabic and English.
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Lebanon-based BanoPuratos eyes operational expansion in Sharjah – GCC Business News — www.gccbusinessnews.com
Highlights:
– Lebanon-based leading manufacturer of raw materials, utensils, and machinery for the food industry, BanoPuratos is planning to double its monthly production capacity from 300 tons to 600 tons and increase its list of products from 45 to 150 during the upcoming year 2022.
– Founded in 1995, BanoPuratos was established in Lebanon under the name of Bano, and the company signed a joint-venture agreement in 2019 with the Belgian Puratos Group and since then it was renamed Bano Puratos. It is now operating in Lebanon, the UAE, Kuwait, Saudi Arabia, Oman, Bahrain, and Jordan.
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Letter Requesting Donation for School
Dr. Atie J. El Mouallem – Letter Requesting Donation for School — atiejelmouallem.com
Our school “Lady of the Tower School for the Sisters of the Holy Family” is located in Bekaa- Lebanon in the district of Deir El Ahmar. It is on the main road between Btedhi and Chlifa. Its ultimate goal is our children’s spiritual and educational lives.
From 1932 till now, our school still taking care of poor children, but due to the economic circumstances in Lebanon in general, and in our school in particular, we require your generous attention in the form of donations. Your donation and help can bring a smile to thousands of faces by helping them to achieve a good life and to continue their learning in our school.
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