Drydocks Files For Insolvency Protection

The move is expected to force all the creditors of the Dubai-based shipbuilding unit to agree to its $2.2 billion debt-restructuring plan.

NMC Raises $187m From IPO

The UAE-based healthcare provider listed its shares on the London Stock Exchange.

DFM Suspends Trading In Al Mazaya

Update: The Kuwaiti developer’s shares have now resumed trading on Dubai Financial Market.

Kuwait’s Bourse Suspends Trade In 19 Firms

The companies, which failed to report earnings on time, join 12 other firms suspended earlier this year.

SEC Receives $1.4bn Loan

Saudi Electricity Company will use the amount, loaned by a group of international banks, to build a power plant in Rabigh.

Abu Dhabi Seizes Dhs4m Fake Goods

The emirate’s Department of Economic Development (DED) seized more than 24,000 counterfeit products last year.

Clinton Expresses “Regret” Over UAE’s Move

The UAE has shut down the Dubai office of the National Democratic Institute, a US-funded pro-democracy group.

HSBC Buys Lloyds Assets In UAE

The acquisition includes the retail, commercial and corporate banking businesses of Lloyds in the country.

OPEC Output Rises In March

The oil supply from the OPEC nations in March this year increased to its highest level since October 2008.

Zain Confirms Dividend Issue

The Kuwait telco also said it would back a subscription by its Saudi affiliate.

DP World Profit Rises to $683 Million

The UAE-founded international ports company has cut its debts.

DIB Repays $750 million Sukuk

The bank said that it repaid the five-year Sukuk from its own resources.

More Saudis Seek Unemployment Benefits

The number of beneficiaries has risen by 170 per cent from December 2011.

Saudi Plans Ambitious Nuclear Programme

The Kingdom is planning to spend more than $100 billion to establish 16 nuclear energy plants in the country.

Dubai Drydocks To Restructure $2.2bn Loan

Dubai’s ship building unit will ask its syndicated lenders to sign a lock-up agreement.

Global Shoppers Spend $497m During DSF

Interestingly, visitors from Russia were the biggest spenders in the UAE during the Dubai Shopping Festival, according to Visa.

JAFZA Eyes Loan Launch

Dubai’s Jebel Ali Free Zone is planning to launch a syndicated loan to partly refinance its $2 billion Sukuk maturing in November.

Pension Fund Will Benefit UAE Expats

As officials in Dubai complete the study for an expatriate pension scheme, experts say that the move will protect workers and improve the economy.

Ex-Mumtalakat Head Joins PineBridge

Talal Al Zain, who recently resigned from Bahrain’s sovereign wealth fund, has been appointed as the CEO of PineBridge’s MENA operations.

RBS Shares Rise After Abu Dhabi Takeover Talks

Britain is reportedly holding talks with Abu Dhabi to sell a part of its stake in Royal Bank of Scotland.

Mubadala Buys $2bn Stake In Brazil’s EBX

The move marks the first significant direct investment by the Abu Dhabi fund in Brazil and Latin America, it said.

Dubai Rents Rise In 2012

The rental rates for apartments and villas rose by one per cent in Q1 2012 compared to Q4 2011, according to Asteco.

UAE Mulls Uniform Corporate Tax Rate

A study is being conducted to check the economic impact of the move, which will introduce a single tax rate across the seven emirates.

Emirates NBD Approves 20% Dividend

Emirates NBD said that its shareholders had approved a cash dividend of 20 fils per share for 2011.

Al Futtaim Gets $500m Egypt Mall Loan

The Mall of Egypt will be one of North Africa’s largest shopping centres.

Kuwait to Launch $2.9 Billion Airport Tender

The construction of a second terminal at the international terminal looks set to go ahead.

DP World To Repay $3bn Loan Early

The port operator has said that it will pay off its loan, which matures in October, six months ahead of schedule.

Dubai Falls Behind Abu Dhabi For Fraud Detection

While the UAE capital has taken stringent measures to ensure compliance, Dubai and the other emirates are still lagging behind, say experts.

MAF Holding Reports 10% Revenue Increase

Dubai-based mall and hotel firm pulls in profits amid MENA Arab Spring turmoil.

Emaar Apt Sales Fell 85% In 2011

The Dubai-based property developer saw overall revenues for 2011 falling by 33 per cent compared to 2010.