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Abu Dhabi

Abu Dhabi’s TAQA Q1 Net Profit Jumps 158%

The firm made a profit of Dhs274 million ($74.6 million) in the three months to March 31.

UAE Outperforms Emerging Markets Driven By Non-Oil Sector Growth

The country’s manufacturing and hospitality sector have seen immense growth

Abu Dhabi’s Waha Capital Q1 Profit Jumps 78%

Waha Capital’s net profit in the three months to end-March rose to Dhs152 million($41.4 million).

Aldar Sees Project Completions Driving Revenue Growth

Aldar launched three new developments worth Dhs5 billion last month and said it was exploring 23 property projects.

Abu Dhabi’s Ruwais Refinery To Be Commissioned By End Of Year

The expansion is planned to more than double the capacity of Ruwais refinery from 415,000 barrels a day (bpd).

Abu Dhabi’s Union National Bank Q1 Net Profit Rises 3.5%

The bank made a profit of Dhs512.1 million ($139.4 million) in the quarter, up from Dhs494.9 million a year earlier.

UAE’s Aldar Q1 Net Triples On Handovers And Sales

The developer’s profit rose to Dhs453.4 million ($123.4 million) in the first quarter from Dhs154.3 million in the same period of 2013.

Abu Dhabi Targets Chinese Tourists Post Nu Skin Event

The emirate is organising a roadshow across Beijing, Shanghai, Chengdu, Guangzhou and Hong Kong.

Abu Dhabi Telco Etisalat Seeks Banks To Arrange Debut Bond Deal – IFR

The plan is to use bond market financing to take out a bridge loan signed in connection with the acquisition.

Etihad Does Not Need To Conduct Tender Offer For India’s Jet-Regulator

SEBI was examining whether the share sale agreement between the two airlines amounted to an acquisition of joint control in the Indian airline.

Etihad Says Is Buying Stakes In Europe To Compete, Not Control

Etihad currently has holdings in Air Berlin, Air Lingus and Air Serbia.

Butlers On Board Etihad A380s

Etihad appears intent on pushing its first class into the luxury private jet space, targeting high-net-worth individuals across the globe.

Dubai’s Arabtec Appoints New CFO -Statement

Iyad Abdalrahim was formerly CFO of Arabtec’s construction unit.

Alitalia Looking To Create Bad Company To Woo Etihad

Under the plan to woo Etihad, the new firm would take on the majority of Alitalia’s debt and around 3,000 staff, a local paper reported.

Abu Dhabi’s Senaat Shelves IPO Plans – Sources

The IPO was expected to mark the merger of the Abu Dhabi, Dubai indices and help kick start new listings in the UAE.

Abu Dhabi’s Louvre Displays Treasures At The Paris One

Backers hope the pieces, once returned to Abu Dhabi, will help create a cultural hub in the Gulf Arab state.

National Bank Of Abu Dhabi Confirms Burdett As CFO

Burdett joins from Australia and New Zealand Banking Group, where he was finance head of its international and institutional banking business.

Dubai’s Arabtec To Carry Out Multiple Acquisitions By 2018 – CEO

The contractor has won a series of deals in the region recently, including the development of Abu Dhabi’s main airport and the building of a Louvre Museum.

Abu Dhabi Hotel Revenues Rise 11% In Q1 2014

Guest numbers in the emirate’s hotels and hotel apartments soared 32 per cent in Q1 2014, authorities say.

Abu Dhabi’s TAQA To Price $750m 10-Yr Bond Tues

The transaction was formally launched to price at 115 basis points over midswaps, a document from the lead banks said.

$1bn New York University Abu Dhabi Construction Completed

The project was designed by award-winning architects Rafael Vinolycovers and developed by state-owned investment company Mubadala.

Two Senior Bankers Leaving UAE Lender NBAD – Sources

NBAD, 70 per cent owned by the Abu Dhabi government, has been realigning its business under new chief executive Alex Thursby, who took charge last summer.

UAE Lender NBAD Warns Over Falling Margins As It Posts Flat Profit

NBAD’s chief executive said fierce competition combined with global interest rate pressure was starting to drive down the profitability of lending.

Etihad Airways Urges Speedy Restructuring Of Air Berlin

The German airline had said last month it was in talks over certain options that prompted speculation that Etihad could gain more control over the carrier.

Fog Disrupts 14 Abu Dhabi Flights

This morning sees the second round of diversions in as many months

Aldar’s Growth Will Be ‘Market-Focused’- Senior Official

The state-owned developer is focusing on developing mid-tier real estate projects in Abu Dhabi.

Union Willing To Enter Negotiations To Aid Etihad-Alitalia Talks

Etihad has so far refused to negotiate with Italy’s unions, which have sunk negotiations between Alitalia and other bidders in the past.

Abu Dhabi’s Fairmont Hotel Project Secures Dhs950m Loan

The 10-year loan is the first such facility agreed between ADCB and NIC.

Abu Dhabi Airport Passenger Traffic Up 15% In Q1 2014

The airport welcomed around 4.5 million passengers during the first three months this year.

Abu Dhabi Islamic Bank Q1 Net Profit Up 20.4%

The lender made a net profit of Dhs409.5 million ($111.5 million) in the three months to March 31.