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.

Saudi’s Shoura Council To Reconsider 40-Hour Work Week

Saudi Arabia’s advisory body will rethink its decision about reducing working hours in the private sector following an appeal by some of its members.

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.

Oman’s National Gas CEO Held By Prosecution

The group posted sales of $90.1 million in 2012, according to its financial statements.

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.

Bahraini Lenders Al Salam Bank And BMI Bank Complete Merger

The merger is being carried out through a share swap of 11 Al Salam Bank shares for every one BMI Bank share.

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.

GCC Petrochemical Exports To Surge In 2014 – GPCA

GCC petrochemical exports are expected to rise due to the Bali Package, which aims to cut the cost of trade by 15 per cent.

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.

Tiger Woods Vows To Work On Putter After Muted Dubai Showing

The 14-times major winner birdied the last three holes for a one-under-par final round of 71 on the Majlis course.

National Bank of Abu Dhabi To Hire Over 100 UAE Nationals In 2014

The bank is on a hiring spree as it grows its commercial business and expands overseas.

Dubai’s Aramex Q4 Net Profit Up 16% On International Revenues

The company made a net profit of Dhs76.4 million in the three months to December 31.

Saudi Electricity Raises SAR4.5bn From Sukuk Sale

SEC said at the beginning of January that it had chosen banks to arrange the riyal-denominated transaction.

Etihad In Final Due Diligence Stage For Alitalia Stake Buy

Abu Dhabi-based Etihad is reportedly planning to buy a 40 per cent stake in the struggling Italian carrier.

Air Arabia Fills RAK Airways Void

Ras Al Khaimah inks partnership deal with Air Arabia in order to sustain its tourism growth plans

UAE’s First All-Inclusive Resort Targets Mid-February Launch

Opening of Rixos Bab Al Bahr in Ras Al Khaimah likely to spur regional interest in nascent sector

Emaar Launches Yasmin Villa Community In Dubai’s Arabian Ranches

Emaar’s latest launch brings in Arabesque-styled villas in the Arabian Ranches expansion.

McDonald’s UAE To Open 15 New Restaurants In 2014

McDonald’s UAE invested Dhs32 million in 2013, with 11 new stores and five renovations.

Union National Bank Q4 Net Profit More Than Doubles

The lender made a net profit of Dhs306 million in the three months to December 31, up from Dhs136 million in 2012.

Investcorp’s H1 Fiscal Year Net Income Up By 53%

The company recorded a net income of $60.1 million in H1 FY 2014, compared to $39.2 million last year.

Dana Gas Reports Q4 Profit Up 12%

The company collected $134 million in Egypt last year and $69 million from Kurdistan.

Cathay Pacific To Drop Jeddah and Abu Dhabi

While flights to both cities are being axed, Bahrain is to be expanded and double-daily Dubai is unaffected

Dubai Ranks 3rd Among World’s Top 20 Dynamic Cities

The ranking by Jones Lang LaSalle lists cities that have strong socio-economic and commercial real estate momentum.