Abu Dhabi Eyes The Big Apple

The emirate is planning a massive advertising campaign in New York’s Times Square to attract more US visitors.

Emirates Posts 72% Drop In 2011 Profit

The airline said that despite an increase in revenue, its profit was hit by rising fuel costs and unrest in the region.

Du Posts 62% Q1 Profit Hike

The telecoms operator posted a net profit of Dhs333.1 million during the first quarter of the year.

Toyota Posts 30.5% FY Profit Fall

The Japanese car manufacturer reported that its net profit for the year to March reached $3.5 billion.

Al Baraka Bank Posts Q1 Profit Rise

The Bahraini lender’s net profit rose seven per cent during the first quarter of the year to reach $57.4 million.

Alwaleed’s Rotana To Shift To Bahrain

Prince Alwaleed’s upcoming news channel, Al Arab will also be headquartered in Manama.

Mubadala To Spend $5.5bn In 2012

The Abu Dhabi investment fund said that a majority of its expenditure will relate to its semiconductor unit ATIC.

Cleared For Landing?

The GCC region plans to spend $300 billion on aviation in the next decade. But how much is too much?

Dubai – China Trade Shows Boom

Trade shows have lined up to provide a platform for trading between the China and Middle East regions.

Arabtec Triples Q1 Profit

The construction firm made a net profit of Dhs84.1 million during the first quarter of the year.

Aabar Signs $2bn China Property Deal

Under the agreement, China State Construction develop real estate projects in Abu Dhabi.

MENA Ad Spend Fell 10.3% In 2011

Regional advertising spend is expected to pick up in the next few years and reach $5.95 billion by 2015.

Top Hotels To Hire 50,000 In MENA

Five international hotel brands are planning to hire almost 50,000 staff in the region over the next three to five years.

Jebel Ali Port To Get Rail Terminal

Etihad Rail and DP World have signed an agreement to develop an intermodal rail terminal in Jebel Ali Port.

Alwaleed Eyes New Investments

The Saudi billionaire is looking for returns of 20 to 25 per cent from the investments, he told a German paper.

DFM Posts 14-Fold Jump In Q1 Net Profit

Dubai Financial Market (DFM) recorded revenues of Dhs69.1 million during the first quarter of the year.

Saudi Pumps 10 Million bpd Of Oil In April

Saudi also has 80 million oil barrels in storage for sudden need, the Kingdom’s oil minister Ali al-Naimi said.

Zain Reports 2% Increase In Q1 Net Profit

The Kuwaiti telecoms operator made a net profit of $255 million during the first quarter of this year.

Ahmed Seddiqi & Sons Buys Al Manara

UAE’s luxury watch retailer Ahmed Seddiqi & Sons has acquired Abu Dhabi-based jewellery chain, Al Manara.

Etihad Cancels Seven Airbus A350-1000s

The Gulf carrier reduced its Airbus A350 order, cancelling aircraft worth $2.3 billion at current list prices.

Jeddah Hotels Post 30% Profit Rise In March

Hotels in the Saudi Arabian city saw average occupancy rates of 81 per cent during the month.

UAE, Saudi Pledge More Oil To South Korea

The Gulf states have assured South Korea that they will make-up for any shortfall of oil supply from Iran.

Is The Property Market Back?

The UAE’s main property developers posted gains in Q1 2012. But are we really out of the woods?

Starwood To Open 40 MENA Hotels By 2017

The international hotel operator is planning to add 13,000 new rooms to the region by 2017.

Shuaa Capital Narrows Q1 2012 Loss

Dubai-based Shuaa Capital reduced losses by 67 per cent year-on-year in the first quarter of the year.

Air Arabia Posts 11% Hike In Q1 Net Profit

The low cost carrier recorded a net profit of Dhs49.2 million during the first quarter of the year.

Emirates Scoops Accolades At BTME Awards

The Dubai-based airline bagged four awards at the Business Traveller Middle East (BTME) Awards 2012.

Dubai’s MOE To Open 20 New Stores In 2012

Dubai’s Mall of the Emirates will host Prada’s third biggest store worldwide and American pancake house IHOP.

Arabtec Group Identified For $3bn Airport Deal

An Arabtec consortium is in final talks for a $3 billion contract to expand Abu Dhabi’s international airport.

Heathrow’s Arabic Speaker Hiring Spree

The airport is increasing measures to cater to the rising number of visitors from the Gulf.