New Bankruptcy Law In UAE By 2012

The final draft of the UAE’s new bankruptcy law will be ready by the end of this year, the Justice Minister has said.

Union Properties Posts Profit Drop

The Dubai property developer announced that net profit for the first quarter of the year dropped 72.7 per cent to Dhs22 million.

Man City’s Rich Rise To Glory

Abu Dhabi shelled out close to $1 billion on Manchester City’s Barclays Premier League title, writes Neil Churchill

Invest AD JV Plan $100m Fund

A joint venture between US-based Paladin Capital Group and Invest AD plans to launch a $100 million MENA fund.

Bahrain To Open New Dragon City

Chinese firm Chinamex is building a multi-million-dinar Chinese-themed retail shopping mall in Manama.

Have I Got News For You

As Sky News Arabia and Al Arab add to the region’s existing basket of Arabic news channels, can they gain marketshare?

Aabar Clarifies Arabtec Stake

Aabar said that it had only raised its stake in Arabtec to 20.7 per cent and not 53 per cent as previously reported.

IEA Warns Of High Oil Prices

High oil prices “pose a real threat to the economic recovery” says the International Energy Agency.

Dubai Plans New Safari Project

The Dhs150 million project will replace the existing zoo and will also include a butterfly park and golf courses.

Kuwait’s Finances Concern IMF

The IMF questions Kuwait’s fiscal stimulus and warns of the sustainability of public finances.

ADIB Q1 Profit Up 5.8%

Abu Dhabi Islamic Bank reported that revenues rose 7.3 per cent to reach Dhs874.8 million during the period.

Dubai: The Shopper’s Paradise

As malls in Dubai announce massive expansion plans, experts express no concerns and say shoppers will come.

Dubai Investments Posts Q1 Profit Hike

The Dubai investment conglomerate recorded a revenue drop of three per cent during the period.

RAK Airport Q1 Visitors Up 58.5%

The airport is increasing passenger capacity from 250,000 to two million in the next 12 to 18 months.

New Saudi Airlines Launch By Q1 2013

Saudi’s GACA says new international airline licences will be operational by April next year.

Saudi Eyes $100 Per Barrel Oil Price

The Kingdom’s oil minister Ali al-Naimi said that an oil price of $100 per barrel would be “great.”

Qatar Buys Stake In Shell Oil

Qatar Investment Authority has reportedly acquired between three to five per cent of oil major Royal Dutch Shell.

Qatar Picks Banks For Sukuk- Sources

Qatar has reportedly mandated five banks to help arrange a new sovereign Islamic bond.

OPEC Says Oil Supply Is Plentiful

The oil producing group said that crude oil supply was in excess of market requirements.

Open Skies Aims High

The Emirates’ inflight magazine will produce its June issue from the world’s highest office, at Burj Khalifa.

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.