Home UAE Abu Dhabi

Abu Dhabi

Jet-Etihad Deal Hits Another Roadblock

The Indian capital markets watchdog has expressed reservations that the control of Jet stands the chance of passing into foreign hands post the deal.

First Gulf Bank Reports 15% Rise In Q2 Net Profit

The lender is rapidly diversifying its presence, both domestically and internationally.

National Bank Of Abu Dhabi H1 Profit Up 25.6%

The UAE’s largest lender made a net profit of Dhs2.6 billion in the first half of the year, on the back on increased revenues.

Abu Dhabi Property Prices Up 5% In Q2 2013

The residential sales market continued to grow due to UAE’s safe haven status while rents stabilised after a growth spurt in Q2 2013.

Abu Dhabi Food Prices Rise 1.9% During Ramadan

Despite government efforts, food prices are rising throughout the Holy month with coffee, tea and cocoa up by 5.4 per cent since Ramadan began.

Sheikh Mansour Sells 6% Stake In Barclays

The Manchester City owner sold all of his stake in the British bank after helping to rescue the lender during the financial crisis.

Etihad Working Towards July 31 Jet Deal Deadline

The Abu Dhabi carrier agreed in April to buy a 24 per cent stake in Jet Airways but political concerns and scrutiny by Indian market regulators have delayed the deal.

Abu Dhabi World’s Best Market For Rolls-Royce

The UAE capital recorded the highest number of sales across the maker’s markets in the first half of 2013.

India’s Jet: Etihad Investment Completed In A Few Months

Etihad in April agreed to buy a 24 per cent stake in Jet for $379 million and it is also making a $150 million equity investment in Jet’s frequent flyer programme.

Etihad Signs Codeshare With Korean Air

New codeshare strengthens partnership with Korean Air beyond the interline and special prorate agreements inked four years ago.

Abu Dhabi’s ADIA Invests $200m In India Real Estate

ADIA has investments of about $400-$500 million in India which includes a $50 million investment in Red Fort Capital, a real estate private equity fund.

Etihad Seals $200m Simulator Deal with CAE

New simulators to be housed in academy extension and fill training gap for long-range aircraft.

Abu Dhabi Commercial Bank Buys Back Shares Worth $103m

The purchase price was equivalent to a 5.6 per cent discount to Tuesday’s closing share price of Dhs5.15.

Brazil’s EBX, Abu Dhabi Fund Agree On Debt Refinance Deal

The agreement will reportedly cut EBX’s debt with Mubadala by more than 25 per cent to between $1.6 billion and $1.7 billion.

Dana Gas Appoints New CEO

Patrick Allman-Ward currently works as the general manager for Dana Gas Egypt.

Abu Dhabi Culls Expat Jobs At Key Government Department

Sources say between 40-70 people have lost their jobs at the General Secretariat of the Executive Council.

Etihad Posts Record Q2, H1 Revenues

The Abu Dhabi carrier attributed its eight per cent rise in Q2 revenue in part to its codeshare and equity alliance partners.

Egypt’s Central Bank Governor Flies To Abu Dhabi

The UAE pledged $3 billion in aid for Egypt in 2011 that has yet to be delivered.

Etihad Nears Deal To Invest In JAT Airways

Last month the Abu Dhabi carrier and JAT signed a preliminary agreement over a possible equity investment.

A Time For Regulation

The Mena region’s approach to alternative energy infrastructure is fragmented and needs work to foster new technology.

Abu Dhabi Developers Aldar, Sorouh Merger Effective

The merged entity, called Aldar Properties, has assets of over Dhs46 billion and a market capitalisation of around Dhs16.7 billion.

Etihad Starting Daily Sao Paulo Flights In August

The airline has been quick to increase capacity on the newly launched route.

Etihad Cargo Unveils Latest B747-8 Freighter

The freighter is being deployed on a new round-the-world routing in conjunction with Atlas Air.

Royal Jet’s New-Look Business Jet Takes Off

The $9m upgrade sees greater emphasis on technology and entertainment

Abu Dhabi’s Merged Property Firms To Begin Trading On June 30

Aldar Properties and Sorouh Real Estate will trade as a merged entity with a capital of Dhs7.86 billion.

Local, Global Trends Boost Gulf Banks As Foreign Rivals Retrench

Gulf economies have ridden out the global financial crisis of the past five years more smoothly than many economists expected.

UAE Regulator – Bourse Merger Would Have “Many Advantages”

The UAE has revived a proposal to merge its two main bourses in a state-backed deal that could boost trading.

Loss-Making Abu Dhabi Tourism Company Sells Saadiyat Project

A joint venture between Mubadala and US-based Prudential Financial bought the residential project for an undisclosed sum.

Etihad In ‘Advanced’ Equity Talks With JatAirways

Etihad has wasted no time in taking its commercial relationship to the next level, after starting daily flights between Abu Dhabi and Belgrade on Saturday

Abu Dhabi’s Masdar Launches Wind Farm In Seychelles

The 6MW Port Victoria Wind Farm is expected to power 2,100 homes in the island country.