Dubai hopes to tap into the trillion-dollar Islamic finance industry and has ambitious aspirations to become the global hub. Can it succeed?
On an annual basis, inflation edged up to a two-year high of 0.9 per cent, up from 0.6 per cent year-on-year in March.
The Dubai-listed firm made a first quarter net profit of Dhs21.9 million ($5.96 million), lower than Dhs22.4 million it posted in the period last year.
Non-oil trade grew to Dhs325.5 billion ($88.6 billion) in the first quarter from 280 billion in the same period last year.
The Dubai-based contractor is currently bidding for projects worth about Dhs15 billion.
The early guidance has the five-year bond pricing in the area of 275 basis points over midswaps.
Citymax COO says it would like to build up to five more Dubai hotels – if it wasn’t for the cost of land
The investment bank said the quarterly net loss narrowed to Dhs5.9 million dirhams ($1.6 million) from Dhs8.5 million a year ago.
Earlier this month the Abu Dhabi government said it would set up a full-service financial zone on an island near the city’s downtown.
The project will be within the developer’s Jumeirah Village Circle community. Work is expected to start immediately with an estimated completion date at the end of 2014.
Dubai airline posts net profit of $622 million; Emirates Group profits up 34% to $845 million.
Flights will be diverted from Dubai International Airport to the new Dubai World Central during the 80-day period in May.
DFM made a first quarter net profit of Dhs27.03 million.
Nine-seater cinema and private salon among striking features of Dhs85,000-a-night floor
The new decree lays down regulations for the licensing and classifying of hotel establishments in Dubai.
The proposed deal is the last big debt restructuring related to Dubai’s 2008-2009 financial crisis.
IHG will open its first Staybridge Suites in Beirut in July and a contract should be signed in Dubai “pretty soon”.
An updated and frequently monitored rent calculator can allay fears of eviction and regulate rents in the market.
The emirate may issue another sovereign bond this year, says senior official.
Speaking at Arabian Travel Market, al Ghaith revealed the carrier will welcome five new aircraft before the year is out.
Last year Best Western opened its first hotels in Oman, Jordan and Saudi Arabia.
The Dubai-based airline currently flies to over 120 destinations across six continents.
Not content with a Ferrari FF or Lamborghini Aventador, Dubai Police now use a rare Aston Martin One-77.
The most important news and announcements from the opening day of the region’s biggest travel event.
Young Emiratis still prefer government jobs but those are becoming scarcer. That fact is encouraging them to take a fresh look at opportunities in the private sector.
Emirates president Tim Clark said the airlines were not influenced by Etihad’s partnership with Virgin Australia.
Gulf Arab banks have stepped up bond sales this year with over $5 billion of dollar-denominated bonds issued so far.
The repayment was part of a dual-tranche facility issued in April 2008.
The emirate’s new tourism strategy is aimed at achieving that vision, says senior official.
The Trump International Golf Club Dubai will be the first course by the organisation in the Middle East.