eyaar, one of the companies worst hit by Dubai’s property market collapse in 2009-2010, made a quarterly profit of Dhs78.5 million.
DIC has been selling down its portfolio of assets to service its debt, most recently selling German packaging company Mauser for $1.72 billion.
The bank’s chief executive said there were a number of options available to boost its capital reserves but it would choose the cheapest way to boost the ratio at the time it chose to act.
The Bollywood theme park, featuring five movie themed areas, is part of the upcoming Dubai Parks & Resorts project.
The bank made Dhs676.8 million of net profit attributable to the owners of the bank in the three months to September 30.
ENBD’s earnings have been given a lift in recent quarters by a resurgence in the Dubai economy.
The distribution centre is also IKEA Group’s first direct investment in the region and is scheduled for completion in September 2015.
Aramex founder Fadi Ghandour said plans are under way to acquire firms in the emerging markets of Africa, Asia and Turkey.
The new areas will be located in Motiongate Dubai, the Hollywood inspired theme park within the Dubai Parks & Resorts project.
Carrefour City stores will cater to smaller neighbourhoods across Dubai and will offer convenient shopping options, Majid Al Futtaim said.
Worries about weak earnings report on growth and business had sent Middle East bourses tumbling, with Dubai’s index down 13.6 per cent last week
Christie’s will not be taking an equity stake in the new affiliate but will provide marketing and PR support.
The restaurant is among the first of five food and beverage outlets that Marka is planning to open by next year.
While average rents dropped in Q3 compared to Q2, rental rates recorded double digit increases on a year-on-year basis.
Gary Anderson is stepping down due to ill health and will be temporarily replaced with COO Gaurang Desai.
Portugal’s largest listed lender, Banco Espirito Santo, was rescued by the state in August.
Jumeirah in the emirate came bottom on a list ranked by the cost of a basket of travel essentials.
Middle East bourses tumbled last week, with Dubai taking the biggest hit and losing 13.6 per cent.
Atlantis refinanced an $880 million loan to take advantage of favourable market conditions, ICD confirmed.
The BIE, which oversees World Expos, was provided an overview about the new Expo 2020 Bureau and the site’s positioning.
Resort blends leisure and business around an ‘understated’ luxury theme
The Saudi index sank to 9,407 points, its lowest level since mid-April.
Dubai’s airport retailer accounted for 5.19 per cent of global airport duty free business and almost three per cent of the wider duty free and global travel retail business.
Chang Zhou Almaden, which produces photovoltaic glass, will set up a 15,000 sqm manufacturing facility at the free zone.
The passenger arrived in Dubai on a plane from Liberia, the ministry said.
The new theme park, to be operated by Merlin, is coming up in Dubai Parks & Resorts.
The group will bring European brands such as Sonia by Sonia Rykiel, Berenice and Essential Antwerp to Dubai.
In February, a Flydubai official said that the firm is looking to raise funds through a bond issue and was considering a sukuk option.
The new hotels and serviced residences will be launched over the next five years across Dubai, Abu Dhabi, Jeddah and Istanbul.
The project is expected to be completed by December 2016, the developer said in a statement.