Dubai’s Union Properties Expects H1 Profit To Jump Fivefold

The developer expects its profit in the first half of this year to reach Dhs700 million.

Saudi’s Ma’aden Signs $5bn Financing For Phosphate Scheme

The scheme will have a production capacity of 16 million tonnes per year of phosphate concentrate, sulphuric acid and phosphoric acid.

Gama Aviation Opens Private Aviation Terminal In Sharjah

The terminal is the first phase of a $15 million investment which will include new hangar and maintenance facilities.

Majority Of Dubai Consumers Prefer Iftars Priced Below Dhs100- Survey

Iftars and suhours during Ramadan will boost revenues in hotels across Dubai, a new survey says.

Kuwaiti Telco Zain Appoints New Chief Commercial Officer

Duncan Howard joined Zain last September and previously worked for Vodafone and Vodafone Egypt.

Dubai’s Empire Aviation Group Adds New Aircraft To African Fleet

The latest aircraft, a Challenger 605 model, was acquired for a private owner by EAG.

Stock News: Dubai Rebounds As Emaar Soars

The index recovers to stand 1.1 per cent higher at 3,987 points, bouncing back above the 200-day average.

New A380 Simulator Launched In Dubai’s Mirdif City Centre

The iPILOT simulator, located in Magic Planet, will offer the experience of flying the world’s largest passenger jet.

Qatar Airways CEO Threatens To Halt Airbus Orders If Slots Denied

Gulf airlines have said that European governments were seeking to restrict fair competition by giving airlines based closer to home preference when awarding airport slots.

Saudi King Appoints New Spy Chief As Regional Crisis Spreads

Prince Khaled bin Bandar served as both deputy defence minister and governor of Riyadh last year.

Dubai Index Drops Below 200-Day Average As Arabtec Again Falls Daily Limit

This is the first time that the index has dropped below the 200-day average since December 2012.

Etihad Increases Frequency On Indian Routes

Double-daily frequencies will be operated to Bangalore, Chennai, Kozhikode and Hyderabad.

Stocks News-Dubai May Stabilise But Hard To See Uptrend

The emirate’s index plunged 4.4 per cent on Monday, bringing its losses from a multi-year peak hit in May to 27 per cent.

Saudi Telecom Due Windfall If Government Pays Market Rate For Seized Land

Experts suggest that the land seized by the government from STC is worth between SAR1.36 billion and SAR2.83 billion.

Qatar GDP Growth Rebounds To 6.2% in Q1, Construction Jumps

Qatar’s economic output growth quickened to 2.3 per cent in the first quarter from a meagre 0.6 per cent in October-December, the data showed.

Dubai Index Drops 4.4% As Arabtec Again Falls Daily Limit Of 10%

The Dubai index reached a three-month closing low of 3,943 points, bringing its losses from a multi-year peak hit in May to 27 per cent.

Dubai’s Expo 2020, Qatar World Cup To Boost Demand For Skilled Workers

Niche skill sets and specific areas of expertise will shape the demand for a particular cadre of executive talent.

Nakheel Launches New Deira Islands Mall, Awards Dhs40m Design Contract

The 620,000 square metre retail destination will form part of the Dubai developer’s new 15.3sq km Deira Islands project.

Etihad’s Fleet Expands To 101 Aircraft

The Abu Dhabi state carrier received two new Airbus aircraft – a A321-231 and a A320-200, that expanded its fleet to over 100 planes.

UAE’s Al Hamra Real Estate Gets $230m Financing

The firm said the facility would be used to refinance existing debt and to finance planned new real estate projects.

Abraaj To Consider Options For Pakistan K-Electric Stake

Abraaj bought a controlling stake in KES Power, the majority shareholder in K-Electric, in 2009.

Etihad Airways Signs Maintenance Deal With Air New Zealand

As part of the deal, Etihad will perform all scheduled and non-scheduled line maintenance on Air New Zealand aircrafts.

Runway Work Cuts Dubai Airport Traffic In May

Dubai International’s passenger traffic rose 9.2 per cent to 29.61 million people during the first five months of this year.

Abu Dhabi To Provide Dhs33m Loan For Sierra Leone’s Solar Project

Abu Dhabi Fund for Development will provide finance to construct a 6 MW solar power plant in the city of Freetown in Sierra Leone.

Stock News: Dubai Drops As Arabtec Resumes Freefall

Dubai’s index is now down 27 per cent from the multi-year peak hit in mid-May, though it is still up 17 per cent year-to-date.

Saudi Telco Atheeb Sells Riyadh Real Estate For $43m

Atheeb sold a building and two plots of land to an unidentified buyer, according to a company filing to Riyadh’s bourse.

UAE Tea Industry To See Growth During Ramadan

Factors driving the demand for tea include its increased health benefits, its role in fitness and nutrition and the fasting period.

Omantel Appoints New Chief Executive

Talal Said Marhoon al-Mamari was previously chief financial officer of the company.

Arabtec – A Case Study For Effective Change

The recent fiasco surrounding Dubai builder Arabtec calls for urgent corporate change, writes management expert Debbie Nicol.

Property Brokers In Dubai To Face RERA Test For Licence Renewal

The test, which has a fee of Dhs700, has to be cleared by all real estate brokers in the emirate.