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Dubai Economy Bets On Superjumbo Air Travel Boom

The emirate has just opened the world’s first airport terminal purpose-built to handle Airbus A380 planes.

Crescent Petroleum Supports Dana Gas Restructuring

Abu Dhabi-listed Dana reached an agreement with creditors to amend terms of a $920 million Islamic bond.

Etihad Sees Busiest Day For Passengers

The Abu Dhabi airline set a new record for the number of people it carried in a single day.

Jumeirah Ends Relationship With Rory McIlroy

The world’s number one golfer parts ways with the Dubai hotel group as Nike beckons.

Abu Dhabi’s TAQA Buys 50% Interest In US Wind Power Project

The acquisition of the 205.5MW Lakefield wind project in Minnesota is expected to close in Q1 2013.

Tiger Woods To Begin Season In Abu Dhabi

The former world number one will compete for the $2.7 million prize at the Abu Dhabi Golf Club on January 17.

Emirates NBD Islamic Unit In Rights Issue

Dubai’s biggest bank will offer 1.5 billion shares at Dhs1 each between January 25 and February 3.

UAE Produced 2.8m BPD Of Oil In December

Oil minister Mohammed al-Hamli said he hopes production capacity will reach 3 million bpd this year.

Dubai Announces Drive To Develop Islamic Business

The emirate plans to form a committee to work on six major initiatives under the project.

Etihad Profits From South China Exports

Etihad Cargo announces new direct weekly freighter operation from Abu Dhabi to Guangzhou.

UAE Discussing Rafale Jets With France

The on-off negotiations over 60 fighter jets have been ongoing for several years.

Dubai’s Property Market Ranked World’s Strongest

The emirate’s residential property index jumped 13.46 per cent in 2012.

UAE’s Aldar And Sorouh Reach Initial Merger Deal

The two Abu Dhabi-based property developers have a combined market capitalisation of about Dhs10 billion.

Dubai’s Just Falafel Plans 20 New UK Stores In 2013

The company has launched it’s first store outside the Middle East in London.

Dubai’s DEWA Plans $1bn Islamic Bond Issue

The proceeds of the sukuk will be used to refinance existing debt and to invest in company projects.

Rotana Kick-Starts Dhs2bn Al Ghurair Expansion

The number of stores at the adjacent shopping centre is set to rise from 200 to 350 this year.

Almost 10,000 Illegal Residents Exit UAE After Amnesty

The UAE government’s two-month amnesty programme extends until February 4.

Abu Dhabi Awards $653m Louvre Contract To Arabtec

The Louvre museum in the emirate is due to be completed in 2015.

Nakheel Issues $33m Sukuk As Part Of Debt Deal

The proceeds will be used to settle trade creditor claims against the Dubai developer.

Dubai’s Cautious Property Comeback

The emirate’s real estate sector edged backed to life in 2012.

Dubai Rents Up 7% In 2012, To Rise Further In 2013

Apartment rents in Dubai rose seven per cent year-on-year, while villa rents increased six per cent year-on-year in 2012, says new report.

Le Méridien Mina Seyahi Reopens After Refurb

Well-known hotel sports ‘chic new look’ and aims to serve as a contemporary city escape for business and leisure travellers

UAE Energy Minister: Current Oil Prices “Good”

Oil prices in 2013 are expected to be similar to prices in 2012, says UAE energy minister Mohammed Dhaen Al Hamli.

Fashion TV Announces New ‘Studio F’ Venture In Dubai

The French broadcasting station’s new venue will act as a fashion studio, a restaurant and a VIP night lounge.

UAE Banks To Push For Delay Of New Mortgage Rules

A UAE central bank circular issued last week said mortgage loans for foreigners should not exceed 50 per cent of the property value.

UAE Employees To See 5% Pay Rise In 2013

Workers in Saudi Arabia are expected to see the biggest salary hikes in the region at six per cent, says new study.

Exclusive: Dubai World Central Airport May Open Early For Passengers

The passenger complex at the new Dubai World Central Al Maktoum International Airport could open as soon as Q1 2013.

Dubai’s BurJuman Shopping Mall Begins Expansion

A new Carrefour hypermarket and a 14-screen Vox Cinemas multiplex are part of the mall’s renovation plan.

Dubai Islamic Bank To Fully Acquire Mortgage Firm Tamweel

The Dubai-based lender already owns a 58.2 per cent stake in Tamweel.

India’s Jet Airways Confirms Stake Sale Talks With Etihad

Abu Dhabi-based Etihad could pay up to $330 million for a 24 per cent stake in Jet Airways, says source.