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Dubai Plans To Build Undersea Hotels

Dubai’s Drydocks World has signed an agreement with a Swiss firm to build the new hotels.

Dubai’s DFSA Appoints New Chief Executive

Ian Johnston will take over from Paul Koster, who completes his term at the financial services regulator.

Qataris Spend $4,100 Per Day On Travel

Compared to the rest of the world, GCC nationals on average spend 260 per cent more on airfares.

Royal Jet Starts Luxury Travel Services

The Abu Dhabi-based private jet operator has partnered with a UK based travel firm to offer luxurious holiday packages.

Emirates May Acquire Other Airlines

Emirates Airlines will acquire other carriers at “the right time,” its chairman Sheikh Ahmed Al Maktoum has said.

Flydubai Plans To Raise Ticket Prices In 2012

The low cost carrier is planning to hike ticket prices due to increasing fuel costs, said its CEO, Ghaith al-Ghaith.

Libya Banks On UAE To Rebuild Nation

Exclusive: Libyan economy minister wants to follow the UAE’s country model to attract foreign direct investment.

Dubai’s Hotels Post 24% Q1 Rise In Revenues

The emirate’s hotels also recorded a nine per cent rise in guest numbers during the first quarter of the year.

Dubai Sukuk To Fund Airport Expansion

Dubai will use the proceeds from its $1.25 billion Sukuk to expand its airport, according to Sheikh Ahmed al Maktoum.

RAK Plans $250m Tourism Push In 2012

The emirate is aggressively developing its hospitality sector and aims to attract 2.5 million visitors by 2015.

GCC Visitors Flock To Munich

Last year, 80 per cent of the Gulf travellers visited the German city for medical reasons.

Dubai Islamic Posts 11% Q1 Profit Hike

The bank reported a net profit of Dhs245 million for the first quarter of the year.

Arab Spring Impact On UAE “Subtle”

Despite popular belief, the UAE’s hospitality sector did not benefit in a major way from the Arab Spring, said experts.

GCC May Soon Have E-Visa Platform

Jumeriah boss, Gerald Lawless, said the GCC could introduce an electronic visa platform for global visitors.

Kerzner Sells Stake in Dubai’s Atlantis

Istithmar World confirmed it has acquired a 50 per cent stake in the landmark Dubai hotel for $250 million.

Dubai Gets 12,000 New Hotel Rooms

The emirate will see a flood of new hotels rooms in the next three years said STR Global.

Sorouh Posts 30% Profit Rise

Abu Dhabi developer sees gains from government projects and higher rental income.

Aldar’s Q1 Profit Soars

The Abu Dhabi develop beats expectations with Dhs478 million profit for the first quarter.

ENBD CIO Dugan Resigns

Gary Dugan will be joining Royal Bank of Scotland unit Coutts in Singapore, according to sources.

Qatar-Led Group Takes Over Damas

A consortium led by Qatar’s Mannai Corp said that its $445 million offer for a majority stake in the Dubai jeweler has been accepted.

Dubai Launches $1.25bn Sukuk: Sources

The two-part Islamic bond reportedly received strong demand in the market.

ENBD Reports Dhs641m Q1 Profit

Emirates NBD’s Q1 net profit fell 55 per cent compared to last year but profit has tripled since Q4 2011.

Top Arab Spenders At Heathrow

London’s Heathrow Airport found that Saudi visitors were the Middle East’s biggest spenders in 2011.

ADCB Posts Dhs802m Q1 Profit

Abu Dhabi Commercial Bank reported that net profit rose 38 per cent year-on-year during the first quarter of 2012.

Aramex Posts 22% Q1 Profit Rise

The Dubai-based logistics firm made a first quarter net profit of Dhs61 million this year.

Etisalat Reports Flat Q1 Profit

The UAE-based telecoms operator reported net profit of Dhs1.81 billion during the first quarter of the year.

Emaar Announces 10% Dividend For 2011

The Dubai-based developer said that it had no plans to tap debt markets in 2012.

Sorouh: Abu Dhabi Rents Will Continue To Fall

One of Abu Dhabi’s largest developers said that it expects residential rents in the emirate to drop further this year.

Cityscape Preview: Abu Dhabi Q1 Rents Drop

Experts say that residential rents in the emirate fell up to 18 per cent during the first quarter of the year.

Abu Dhabi Sees 3.4m Passengers in Q1

Abu Dhabi International Airport saw 21.2 per cent increase in traffic year-on-year.