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MAG 5 JV launches new affordable residential tower in DWC

The project, valued at Dhs700 million, will comprise of 1,000 residential units and will be ready for handover by 2018.

Dubai Islamic Bank picks arrangers for potential dollar sukuk

DIB has mandated First Gulf Bank, HSBC, Maybank, National Bank of Abu Dhabi, Standard Chartered Bank and itself to arrange the meetings in Asia and Europe.

ICBC Dubai branch narrows price guidance for benchmark 5-yr dollar bond

The deal, rated A1 by Moody’s, has so far attracted orders totalling more than $3.5 billion from investors, a document showed.

Emirates plays off Airbus’ A350 against Boeing’s Dreamliner

Emirates’ head Tim Clark has said the airline will opt for either B787-10s or A350-900s in the next stage of its fleet development.

Dubai Water Canal project 33% complete, new diversions announced

The Roads and Transport Authority has opened phase II of the main traffic diversion works on Al Wasl Road.

Majid Al Futtaim to invest Dhs1bn in VOX Cinemas until 2020

The funds are aimed at helping VOX attract a further 50 million customers over the next five years.

Dubai Properties says Arabella Townhouses sell out on launch day

The developer has now launched additional units for sale within the project, which is located in its Mudon community in Dubailand.

Nakheel signs deal with Landmark Group for 25 outlets in Al Khail Avenue

Construction on the Al Khail Avenue mall will begin this year, with expected opening in 2018.

UAE’s Waha Capital to invest up to $1.08bn by 2020

Waha is looking to invest in sectors with high growth potential such as energy, infrastructure, healthcare and education.

Abu Dhabi prosecutors say will contest verdict in schoolgirl death case

The Abu Dhabi Appeals court had eased the verdicts on the defendants and overturned the school’s closure.

Etihad Airways says US carriers got $70bn in government aid

The claim follows US carriers’ allegations that Etihad, Emirates and Qatar Airways have received more than $40 billion in state subsidies.

Credit Cards Bolster Citigroup In UAE, Bahrain And Poland

Citigroup has experienced growth in credit card acquisitions in the UAE of 2.5 times over the past year, it said.

Dubai’s Marka Buys Reem Al Bawadi Restaurant Chain For Dhs315m

The acquisition is being funded by a blend of the company’s own funds and bank facilities, Marka said.

Taxi-Provider App Uber Now Targets Health, Retail

Uber’s reach now stretches across 310 cities and 55 countries and it records one million trips a day.

Revealed: Top 10 Medical Tourism Destinations In The World

Canada was ranked as the world’s best medical tourism destination worldwide in 2014, according to a new index.

Dubai’s Drake & Scull Q1 Net Profit Falls 38%

DSI’s first-quarter revenue was Dhs1.11 billion, down from Dhs1.25 billion a year earlier.

Expats In GCC Countries Can Now Apply For UAE Visa Online

From October, online visas will become mandatory, and visas on arrival will not be granted at the airport, officials said.

Abu Dhabi’s Aldar Q1 Net Profit Rises 36%

The state-linked builder made a profit of Dhs618 million in the three months to March 31.

Half Of UAE Professionals Unhappy With Their Salaries – Survey

Up to 66 per cent of UAE professionals believe they earn less than what other firms in their industry offer, finds new survey by Bayt.

UAE Ranks 45 Globally For School Education; Singapore Tops List

Published by the OECD, the biggest-ever global school rankings list is based on test scores in maths and science in 76 countries.

Emirates Airline Could Use European Hubs To Expand In Americas

The move could further anger US carriers, which accuse Emirates of competing unfairly through state subsidies.

Abu Dhabi’s TAQA Q1 Profit Falls 6.6% On Low Oil Prices

Total revenues tumbled 29 per cent to Dhs5.13 billion because of the plunge of oil prices since last June.

Dubai Builder Arabtec Swings To Net Loss In Q1

The builder reported a loss attributable to equity holders of Dhs279.82 million in the first quarter.

Alibaba’s Cloud Computing Unit To Establish Base In Dubai

Alibaba’s subsidiary Aliyun will set up a venture with Dubai-based Meraas.

Dubai’s DP World Launches $500m, Five Year Bond

The transaction has received orders of seven times its size, an earlier document showed.

Japan’s Cosmo Oil, Spanish Firm Cepsa In Talks For New Abu Dhabi Oilfield Stake

Abu Dhabi’s International Petroleum Investment (IPIC) owns all of Cepsa and is the biggest shareholder in Cosmo.

Emirates Global Aluminium Says Exports To Fall As Local Demand Grows

The company produces about 2.4 million tonnes of aluminium products per year.

Abu Dhabi’s Image Nation To Finance Tom Hanks Thriller, The Circle

The movie has been written and will be directed by James Ponsoldt, and will start shooting in August 2015.

Emirates Adds Third Daily Flight To Beirut

The additional service will increase Emirates’ total number of weekly flights serving Lebanon to 21.

New Dubai Expo 2020 Logo To Be Unveiled On October 20

The new logo design will be selected from 18,000 entries received during a public competition.