News from Dubai » Money

Restaurants warned about illegal service charges

David — Wed, 30 Dec 2009 16:58:07 +0000

Sultan Bin Saeed Al Mansouri, Minister of Economy and chairman of the Supreme Committee for Consumer Protection, has warned restaurants in Dubai that the automatic addition of service charges to bills is illegal.

The move follows thousands of complaints that many restaurants in the city still add a service charge, despite the practice being outlawed in 2006. Some establishments have been adding as much as 20 percent to bills.

Al Mansouri said that the Ministry ‘will take serious measures against those who violate the law.’

ATMs installed at Dubai Metro stations

David — Mon, 14 Sep 2009 13:10:23 +0000

Mashreq, one of the leading banks in the United Arab Emirates, has installed a number of ATMs at the recently opened stations on the Dubai Metro Red Line.

Cash machines have been installed at 9 stations; Rashidiya, Deira City Centre, Al Rigga, Mall of the Emirates, Financial Centre, Jafiliya, Nakheel Harbour and Tower, Union Square, and Khalid Bid Waleed.

Dirham revaluation likely

David — Fri, 28 Dec 2007 14:54:51 +0000

Egyptian investment bank EFG Hermes believes that the UAE is likely to revalue the dollar-pegged dirham next year due to the weakening US dollar. The company says the move is necessary to cut inflation in the UAE, currently running at just under 10 percent.