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Daily brief: Dubai gets largest public park, Egypt non-oil activity shrinks

Dubai Holding signed an agreement with Dubai Municipality to develop the emirate’s largest public park in Dubailand. Here are the top seven business stories you need to know today.


Egypt’s non-oil business activity shrinks for 17th month

Business activity in Egypt shrank for the 17th consecutive month in February although the pace of decline slowed from a month before, a survey showed on Sunday, the Emirates NBD Egypt Purchasing Managers’ Index (PMI) for the non-oil private sector showed.


(Egypt’s foreign debt to reach 30 per cent of GDP by June)


UAE Central Bank issues capital adequacy regulations

The Central Bank of the UAE has issued new regulations to ensure that capital adequacy of all banks operating in the UAE is in line with revised rules outlined by the Basel Committee on Banking Supervision in Basel III, a global regulatory framework for more resilient banks and banking systems.

Dubai ruler releases new book on happiness and positivity

Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has announced the release of his new book, titled “Ta’mulat fi Asa’adah Wl Ejabia”, which translates into “Reflections on Happiness and Positivity”.


Ajman launches eco-friendly electric car

Sheikh Rashid bin Humaid Al Nuaimi, Chairman of Ajman Municipality and Planning Department, has launched the eco-friendly electric vehicle to facilitate the work of parking monitors in the Emirate of Ajman, and set a model for entire population to use such vehicles.


Dubai to get its largest public park yet

Global investment conglomerate, Dubai Holding, signed an agreement with Dubai Municipality to develop and construct the emirate’s largest public park yet, stretching across an area of 1,430,000 square metres in Dubailand.


(Dubai Holding chairman resigns to focus on government role)


Al Futtaim Carillion to build Dubai Expo 2020 theme districts

Al Futtaim Carillion, a Dubai-based company, will be the main contractor for the key development of the three Theme Districts at Expo 2020 Dubai. The contract announced today is worth AED 2.2 billion and is the first of AED 11 billion worth of construction contracts that Expo 2020 Dubai plans to award in 2017.

(Dubai to award $3 billion construction contracts for Expo 2020)


MENA Real Estate to acquire up to 100% stake in Rasmal Holding

MENA Real Estate announced intent to acquire up to 100 per cent stake in Rasmal Holding, through share swap.