DIB’s quarterly net profit remains flat despite a jump in provisions with impairments worth Dhs309 million.
The two banks signed a partnership agreement to cooperate in trade and project finance.
Project contracts will be awarded by end of 2012, the Roads and Transport Authority has said.
The deal, signed with UAE’s Mubadala, is expected to add $500 million to Guinea’s GDP.
Dubai Financial Market said revenue increased 16 per cent during the quarter to Dhs36.8 million.
The troubled Saudi construction company reported a third quarter loss of $9 million.
Mainly aimed at business travelers the hotel’s rooms and facilities would easily keep leisure guests entertained too.
Local banks will have home-advantage when financing infrastructure projects but smaller assets than international lenders.
Abu Dhabi Commercial Bank posted a net profit of Dhs595 million, as non-interest income declined.
Kaspersky Lab report digs up alarming statistics about the UAE’s vulnerability to scam attacks.
The natural gas firm becomes the country’s first company to fail to repay a bond, also missing a $18.75 million accrued profit payment.
NBAD now expects lending to grow between four to eight per cent this year, down from its earlier forecast of 10 per cent.
The government has banned all rallies and gatherings to ensure public safety and prevent violence.
Latest TV reports say at least 111 people were injured. Explosion caused by fuel truck crashing.
The Dubai-based developer reported profit of Dhs156 million for the nine months of the year.
The Abu Dhabi-based cooling company made a net profit of Dhs167.6 million during the nine months to September 30.
The Abu Dhabi airline’s application for an operating permit was rejected by Ethiopia’s aviation authority.
The airport handled 4.78 million passengers in September 2012.
NBAD, which opened an office in Shanghai earlier this year, plans to expand its presence in Asia.
As per the budget, total spending for the year will be Dhs44.6 billion.
Human Rights Watch described the law as “a commitment to censorship”.
Abu Dhabi’s flagship carrier has bought two new A330-200s and converted seven A320s into the larger A321.
The Sharjah-based gas firm has reached a standstill agreement with bondholders, say sources.
The world’s third-largest port operator recorded a 0.7 per cent year-on-year fall in the third quarter.
The lender has mandated HSBC, Morgan Stanley, National Bank of Abu Dhabi and Standard Chartered to arrange the roadshows.
Construction labour costs in the Kingdom are 51 per cent higher than in Qatar, says new report.
The lender grew its total number of assets by five per cent while its shareholders’ equity dropped by two per cent.
The Qatari lender hopes to increase capital by up to $1.6 billion in 2013.
TAQA has a 60 per cent stake in Netherlands’ 4.1 billion cubic metre Bergermeer storage facility.
South African media group Naspers has acquired a minority stake in the Middle East e-commerce site, for a rumoured $40 million.