Dubai Gets 12,000 New Hotel Rooms

The emirate will see a flood of new hotels rooms in the next three years said STR Global.

Sorouh Posts 30% Profit Rise

Abu Dhabi developer sees gains from government projects and higher rental income.

Aldar’s Q1 Profit Soars

The Abu Dhabi develop beats expectations with Dhs478 million profit for the first quarter.

Emaar Net Profit Rises 44 %

The developer’s results beat analyst expectations due to gains in retail and hospitality operations.

ENBD CIO Dugan Resigns

Gary Dugan will be joining Royal Bank of Scotland unit Coutts in Singapore, according to sources.

Exclusive: Infosys Boss K. V. Kamath

In a rare interview, the Infosys chairman discusses why India’s economy will triumph adversity.

Qatar-Led Group Takes Over Damas

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.

Kuwait’s Surplus Jumps 78%

The country’s current account surplus increased mainly because of a rise in exports.

Dubai Launches $1.25bn Sukuk: Sources

The two-part Islamic bond reportedly received strong demand in the market.

Saudi To Award New Airline Licences

The Kingdom will grant new airlines licences in September to operate both locally and internationally.

MENA M&A Values Drop 40%

The value of M&As in the region fell to $8.5 billion during the first quarter of 2012, according to Ernst &Young.

Apple Crushes Street Targets

The US tech firm posted quarterly revenues of $39.2 billion, a 59 per cent jump on last year.

A Winning Combination

Managing a company is all about building up team spirit, says Christophe Chenut, CEO of Lacoste.

ENBD Reports Dhs641m Q1 Profit

Emirates NBD’s Q1 net profit fell 55 per cent compared to last year but profit has tripled since Q4 2011.

Kuwait To Regulate Social Media

The country is planning to pass laws this year to control the use of social networking sites.

Top Arab Spenders At Heathrow

London’s Heathrow Airport found that Saudi visitors were the Middle East’s biggest spenders in 2011.

ADCB Posts Dhs802m Q1 Profit

Abu Dhabi Commercial Bank reported that net profit rose 38 per cent year-on-year during the first quarter of 2012.

Julius Baer: Europe Crisis “Behind Us”

The threat of a severe Europe crisis has passed, but more needs to be done to ease the situation, said Julius Baer.

Aramex Posts 22% Q1 Profit Rise

The Dubai-based logistics firm made a first quarter net profit of Dhs61 million this year.

Etisalat Reports Flat Q1 Profit

The UAE-based telecoms operator reported net profit of Dhs1.81 billion during the first quarter of the year.

Emaar Announces 10% Dividend For 2011

The Dubai-based developer said that it had no plans to tap debt markets in 2012.

Sorouh: Abu Dhabi Rents Will Continue To Fall

One of Abu Dhabi’s largest developers said that it expects residential rents in the emirate to drop further this year.

Saudi To Build 85,000 New Homes By 2015

The new units are being developed by Saudi’s housing ministry as part of a larger affordable housing strategy.

Cityscape Experts: Abu Dhabi Needs ‘Rera’

The capital emirate needs a real estate enforcement body like Dubai, said Sorouh and Cluttons.

Cityscape Preview: Abu Dhabi Q1 Rents Drop

Experts say that residential rents in the emirate fell up to 18 per cent during the first quarter of the year.

Kingdom Holding Records 11.3% Q1 Profit Rise

Prince Alwaleed’s Kingdom Holding Company said that net income during the first quarter of the year reached SR100.8 million.

Abu Dhabi Sees 3.4m Passengers in Q1

Abu Dhabi International Airport saw 21.2 per cent increase in traffic year-on-year.

Arabtec Wins $60m Deal From Aabar

The contract includes the construction of a residential development in Abu Dhabi.

Dubai’s Foreign Trade Hits Dhs1.1 trillion

India is the emirate’s top trading partner, according to the customs authority.

Abu Dhabi To Exit Daimler

Abu Dhabi’s investment fund Aabar is reportedly looking to exit its its stake in the German carmaker.