Emirates NBD requests withdrawal of Dubai Bank’s Fitch and Moody’s ratings.
The Abu Dhabi Securities Exchange has denied reports that it’s going to investigate trading patterns of Aldar and Sorouh.
According to sources, the UAE-based bank is planning to let go of its employees to cut costs. The bank has refused to comment.
Government-owned Dubai Group is currently reviewing the potential sale of the Manhattan-based property.
The region’s hydrocarbon reserves account for almost a third of the world’s reserves, says QNB Capital.
The UAE-based property developers are discussing ways to merge in a government-backed tie-up.
The emirate will not stop issuing new hotel licenses as previously reported by local media, but will be selective in the number it grants.
More than 1.5 million tourists visited the emirate last year, and the city is putting in several efforts to attract more visitors in the future.
The region’s representatives on Forbes’ annual list of the World’s Billionaires have a combined net worth of $65.4 billion.
P&G was named advertiser of the year, while Y&R Dubai bagged the advertising agency of the year award.
Healthcare provider NMC hopes to raise $250 million through the listing, and plans to use the funds for further expansion.
The 750 million renminbi bond, which matures in 2015, was 5.7 times oversubscribed, the bank said.
The issuance of Islamic bonds in the region could reach over $14 billion this year because of increasing investor demand, according to HSBC.
The utilities unit of Drake & Scull International has won the Dhs100 million contract to set up a water system for a thermal power station in India.
The telecoms operator reported a net profit excluding royalty of Dhs1.8 billion in 2011, a 47.8 per cent rise over the previous year.
The move makes the Abu Dhabi-based sovereign wealth fund one of the largest shareholders in Arabtec.
Total bank deposits in the UAE reached Dhs1,069.7 billion at the end of December 2011, according to the central bank.
A Korean consortium has signed a deal with ADNOC to acquire a 40 per cent stake in three oilfield projects in the UAE.
The health ministry has said that many herbal products may contain harmful drugs and are also packed in unhealthy conditions.
The value and volume of shares traded on the Dubai Financial Market increased in February.
Many people in the country are dissatisfied with their current financial position, according to a Bayt.com-YouGov survey.
Royal Bank of Scotland said it no longer requires equity research on Middle Eastern companies from Dubai’s Rasmala Investment Bank.
Abu Dhabi’s International Petroleum Investment Company is refinancing the $850 million, three-year loan it signed in February 2009.
Hotels in Dubai and Jeddah saw occupancy levels rising in January 2012, according to TRI Hospitality Consulting.
Dubai’s Drydocks will present its restructuring plan for its $2.2 billion loan facility next week.
The country’s non-oil trade reached Dhs759.8 billion during the first ten months of 2011.
While the bank’s income from the country rose seven per cent last year, expenses also increased by six per cent.
Dubai-based Noor Islamic Bank clarified that it has ended all business relations with Iranian banks.
Noor Islamic Bank has reportedly been forced to cut off its banking business with Iran by the US Treasury.
The Ministry of Economy will now be able to monitor the flow of essential goods and their prices across the country.