More than 1.5 million tourists visited the emirate last year, and the city is putting in several efforts to attract more visitors in the future.
Dania Saadi reports on the new wave of entrepreneurs spreading across the Gulf, boosted by growing funding opportunities.
P&G was named advertiser of the year, while Y&R Dubai bagged the advertising agency of the year award.
The issuance of Islamic bonds in the region could reach over $14 billion this year because of increasing investor demand, according to HSBC.
Total bank deposits in the UAE reached Dhs1,069.7 billion at the end of December 2011, according to the central bank.
A Korean consortium has signed a deal with ADNOC to acquire a 40 per cent stake in three oilfield projects in the UAE.
The value and volume of shares traded on the Dubai Financial Market increased in February.
The country’s non-oil trade reached Dhs759.8 billion during the first ten months of 2011.
While the bank’s income from the country rose seven per cent last year, expenses also increased by six per cent.
The number of people killed in traffic accidents fell by 12.8 per cent last year, according to the interior ministry.
ABC Islamic Bank announced a net profit of $8.1 million for 2011, based on lower provisioning.
The mall is part of a mixed-use development project located in Bellevue, Washington, that Investcorp invested in five years ago.
The Japanese bank has received approval to offer foreign investors access to Saudi Arabia’s bourse.
The Dubai Financial Market, the worst performing Gulf bourse last year, managed a small fourth quarter profit.
Construction contracts worth $15 billion will be signed in the country this year according to Ventures Middle East.
The Bahraini banking group reported a 10 per cent increase in full year net profits for 2011.
Unrest in Syria is causing chaos at the country’s banks, which posted bumper profits last year.
Recruiting private bankers in the Gulf is no easy matter. The region has some of the highest staff turnover rates in the world.
DEWA has awarded ILF Engineers a consultancy contract for two solar projects, including its $3.26 billion energy park.
The region’s trade with Russia, India and China is set to grow much faster than trade with developed economies.
The transaction is set to create the world’s largest SME focused private equity group.
The region may even top the world in terms of growth of wealthy individuals this year, according to experts.
Greater demand for expatriate workers boosts GCC population growth.
Aramco signed an initial deal with Indonesia’s state energy firm, PT Pertamina, to look into building a petrochemicals project in Indonesia
The company’s net profit in Q4 2011 increased by 161 per cent year-on-year.
Brent crude slips to $118 as a final decision on Greece’s bailout package faces a possible delay.
The bank reported that net profit for the full year increased by six per cent from 2010.
Issuers and investors remained wary of volatility in the capital markets, according to PwC.
The Finnish telco partnered with Microsoft in a bid to claw back market share last year
Abu Dhabi’s Dolphin Energy will use the proceeds to meet its refinancing needs.