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.
The two-part Islamic bond reportedly received strong demand in the market.
Emirates NBD’s Q1 net profit fell 55 per cent compared to last year but profit has tripled since Q4 2011.
London’s Heathrow Airport found that Saudi visitors were the Middle East’s biggest spenders in 2011.
Abu Dhabi Commercial Bank reported that net profit rose 38 per cent year-on-year during the first quarter of 2012.
The Dubai-based logistics firm made a first quarter net profit of Dhs61 million this year.
The UAE-based telecoms operator reported net profit of Dhs1.81 billion during the first quarter of the year.
The Dubai-based developer said that it had no plans to tap debt markets in 2012.
One of Abu Dhabi’s largest developers said that it expects residential rents in the emirate to drop further this year.
Experts say that residential rents in the emirate fell up to 18 per cent during the first quarter of the year.
Abu Dhabi International Airport saw 21.2 per cent increase in traffic year-on-year.
The contract includes the construction of a residential development in Abu Dhabi.
India is the emirate’s top trading partner, according to the customs authority.
Abu Dhabi’s investment fund Aabar is reportedly looking to exit its its stake in the German carmaker.
The UAE is the world’s second most popular country for global retailers, according to property adviser CBRE.
The UAE-based mortgage lender recorded a net profit of Dhs18 million during the first quarter of the year.
The UAE Foreign Minister has said that the dispute with Iran concerning Abu Mousa could spiral into an international issue.
This is the first time Boeing has signed a direct outsourcing deal for parts production in the Arab region.
Global fashion store will launch 14 more regional stores this year.
Property prices in the city are hitting early 2008 levels, and the rental market is also positive, says a new report.
The Dubai-based developer reported a net profit of Dhs1.3 billion for 2011.
Mashreq bank chairman Abdul Azuz Al Ghurair is also vice chairman of DIFC’s higher board of directors.
The majority of the licences were issued to businesses in the tourism sector, said Dubai’s Department of Economic Development.
Digital experts have slammed the practice of hiring fake users to ‘like’ a page.
The meeting in Riyadh will discuss the dispute between the UAE and Iran over Abu Musa island, sources said.
The bank plans to distribute 55 per cent of its 2011 net profit to the ministry of finance, reported WAM.
The Abu Dhabi-based investment company attributed the loss to negative fluctuations in its financial investments.
Dubai-based builder Arabtec has nominated four top Aabar executives to its board.
The two countries are set to strengthen bilateral trade ties, according to the UAE Minister of Foreign Trade.
The UAE-based construction company will eye major contracts in Qatar this year.