Home next GCC next UAE

UAE

Revealed: Top 10 UAE Bank Profits In 2012

Gulf Business brings you the top 10 banks in the UAE that made the largest profits last year.

Arabtec’s New CEO Says Aabar Not Seeking Stake Increase

Abu Dhabi investment fund Aabar has a 22 per cent stake in the Dubai-based contractor.

UAE’s ENEC Applies For Licence To Build More Nuclear Reactors

Emirates Nuclear Energy Corp (ENEC) was awarded a licence for the construction of the first two reactors last July.

Novak Djokovic Seals Dubai Tennis Title

This is the Serb’s fourth Dubai Championships win in five years.

Property Speculators’ Return Fuels Dubai Bubble Fear

Queues of investors have formed outside the offices of real estate developers in scenes that recall the emirate’s boom days before 2008.

Dubai Utility DEWA Launches $1bn Sukuk

The utility printed the five-year paper at par at a profit rate of three per cent.

VIDEO: Etihad To Launch Biggest Ever Global Brand Campaign

The airline’s first such initiative for three years, it will comprise TV, print, outdoor and digital elements.

Emaar Reports Strong Investor Interest For New Property

Dubai-based developer says its website received traffic from 75 countries for online registration for The Address Residence Sky View.

MAF Investing Dhs140m In City Centre Residence

Salman Haider, executive managing director of hotels at MAF, said work will start at the beginning of 2014.

Dubai Group Unit Sells 41.1% ONIC Stake To Oman Fund

The asset sale is part of the Dubai Group’s $6 billion restructuring process, said officials.

UAE Central Bank Head – “Domestic Bond Market Essential”

Sultan Al Suwaidi said that a well developed local debt market would buffer the country from the next global economic crisis.

Arabtec Tumbles After Massive Capital Raising Plans

The contractor also replaced its chief executive as part of a shakeup driven by investment fund Aabar, its largest shareholder.

Federer And Djokovic Power Through In Dubai

Federer dismissed Spain’s Marcel Granollers while Djokovic overcame a late stumble to beat another Spaniard Roberto Bautista.

First Gulf Bank Eyes 10% Loan Growth This Year

The UAE lender made a net profit of Dhs1.15 billion in the fourth quarter of 2012.

Dubai Plans Central Islamic Finance Regulatory Board

The emirate is hoping to become a global hub for Islamic finance and other businesses based on Islamic principles.

Dubai’s Arabtec CEO Riad Kamal Resigns

Managing director Hasan Ismaik will replace Kamal as the new chief executive of the construction company.

Abercrombie & Fitch To Launch In Middle East With MAF

American fashion house will open a Hollister store in Mall of the Emirates in Q3 of this year.

Kingfisher Airlines Loses Rights To Fly To Dubai

The carrier has lost its traffic rights allowing it to fly 21 times a week into the UAE.

UAE’s NBAD Launches $16.6m Uridashi Bond

The 15-year bond will allow NBAD to directly access Japanese retail investors.

Jet Airways Shares Surge On Report Etihad Deal Is Close

Etihad paid $70 million to India’s Jet Airways to buy three pairs of Jet’s slots at London’s Heathrow Airport.

Former Foreign Secretary Miliband Dismisses UK Ratings Downgrade

David Miliband called for investment and innovation, speaking at a conference in Abu Dhabi.

Tennis – Djokovic And Del Potro Go Through In Dubai

Novak Djokovic extends his unbeaten run to 14 matches.

Abu Dhabi Bourse To List Big Private Firms

The new firms will be listed as Tier-2 stock without the need for initial public offerings.

“Being Global Doesn’t Matter” – Frost & Sullivan

The GIL 2013 event in Dubai highlighted the importance of visionary innovation and megatrends in business.

Dubai’s DEWA To Print Sukuk This Week, Sets Price Talk

DEWA CEO Saeed Mohammed al-Tayer indicated last week that the sukuk would be $1 billion.

UAE’s NMC Health 2012 Net Profit Jumps 36.5%

NMC’s profit was boosted by higher core business revenues and reduced funding costs.

Dubai Airport Passenger Traffic Up 15% In January

Traffic rose to 5.56 million passengers from 4.85 million a year ago with freight volume also up.

Peru – UAE Exports Rise Record 35 Per Cent

Food and beverages, mining and construction are among the growth sectors.

UAE’s Etihad Rail Gets $1.28bn Loan For Project

The UAE’s national railway network will span 1,200 kilometres and form part of the planned Gulf-wide railway network.

Abu Dhabi Royal Scraps Agreement For $45bn Pakistan Property Project

Sheikh Nahayan bin Mubarak has cancelled the deal less than two weeks after it was signed.