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UAE

Dubai Start-Up Qordoba Raises $1.5m For Product Development

The online content creation company hopes to scale up its offering.

Abu Dhabi Islamic Bank 2013 Q4 Profit Up 41%

The lender made a net profit of Dhs343 million in the fourth quarter compared with Dhs242.8 million in the same period in 2012.

Deyaar’s Net Profit For 2013 Up 300%

The Dubai developer increased its gross profit for the year from Dhs199 million in 2012 to Dhs307.5 million.

Dubai Financial Centre Posts Double-Digit Growth For 2013

The number of active registered companies operating within the DIFC rose 14 per cent to 1,039 last year.

First Gulf Bank To Hire Investment Bankers To Grow Business

The bank has mandates for arranging loans and bonds for UAE entities totaling around $15 billion, an official said.

Hilton Garden Inn Arrives In UAE At The Double

The brace of hotels will meet the growing need for affordable accommodation in the run-up to Expo 2020

Abu Dhabi’s TAQA To Build UAE Desalination Plant

Construction is expected to start in early 2015 and commercial operations in 2017.

Trading On Dubai’s Main Stock Exchange Suspended

Trading on Dubai Financial Market (DFM) was suspended because of a system malfunction

Does Apple Need A Flagship Store In The UAE?

With rivals such as Samsung promoting themselves heavily in the country, the US giant may have to step up its presence.

Emirates Starting Daily Abuja-Kano Flights

Emirates will soon serve three cities in oil-rich Nigeria

Flydubai Signs Mobile Maintenance Agreement With Boeing

The applications give technicians real-time information to speed up maintenance repairs.

Waha Capital 2013 Profit Up 43%

The firm’s total assets grew to Dhs5.2 billion from Dhs4.4 billion a year earlier.

Etihad Regional Starts Geneva-Stuttgart Flights

New route enables Stuttgart passengers to connect with Etihad’s global network via Geneva

New Tourism Fee To Be Levied In Dubai From March 31

Visitors will face an additional charge of between Dhs7 to Dhs20 per room, per night.

ING Shuts Middle East Asset Management Operation In Dubai

The small Dubai team managed $425 million of assets at the end of 2013.

UAE Officials See Strong Growth, Play Down Inflation Threat

The IMF raised last week its 2014 UAE growth prediction to 4.5 per cent, but warned of a potential property bubble.

UAE Says Ruler In “Reassuring” Condition After Surgery

The Abu Dhabi Crown Prince said “we have passed through a difficult crisis.”

Nearly 50% Of Finance Sector Workers Say Emiratisation Doesn’t Add Value

A bulk of local recruitment in banks is happening at graduate level, which needs to be accompanied by a sound retention strategy.

Dubai Apartment Rents Rise 50% In 2013

Residential sales prices also shot up by 60 per cent last year, says a new report.

Flydubai Plans Benchmark-Sized Bond Issue In 2015

The amount raised will be used for the company’s general operating expenses and to fund some of its aircraft deliveries.

Arabtec Plans To Hire 10,000 Across The Middle East

The Dubai-based construction company is targeting young recruits for the new roles.

Burj Khalifa’s ‘At The Top’ Dubai’s Biggest Attraction

Saudi Arabia provided the most visitors from another GCC country.

Abu Dhabi 2013 Growth Accelerated, Sees Strong 2014

GDP growth in 2014 for the emirate has been forecast at 6.7 per cent.

Drake & Scull Wins Dhs110m Contract for Mall of the Emirates’ Project

The contractor will provide MEP works for the mall’s redevelopment project.

Standard Chartered Appoints New UAE CEO

Mohsin Nathani will replace Jonathan Morris, who has resigned from the bank for personal reasons.

Pearl Dubai Sells $1.9bn Assets To Hong Kong Property Group

The sale includes high-end residences and serviced apartments and two five-star hotels within the Dubai Pearl project.

Dubai’s Union Properties 2013 Profit Soars Eightfold

The company said it was recommending a five per cent bonus share dividend to shareholders for 2013.

Gallacher Retains Dubai Desert Classic Title

Gallacher began the day two shots clear of world number six Rory McIlroy.

UAE Summons Qatari Ambassador Over Muslim Cleric’s Comments

In a recent sermon Youssef al-Qaradawi condemned the UAE as a country which was against Islamic rule.

Yas Mall To Open On Formula One Weekend

The mall – measuring 2.5 million sq ft – will operate 400 stores and a 20-screen cinema.