Home GCC UAE

UAE

Etihad Starts Daily Flights To Tokyo, Casablanca

Abu Dhabi’s flag carrier announces daily services will begin early next year.

Dubai Property Value Drops In H1

The net value of properties assessed by the Dubai Land department dropped 26 per cent year-on-year.

Biggest Banks In The UAE

Higher capitalisation and new profits in the UAE are threatened by the Eurozone and weak global growth.

India’s Jet Airways Introduces Sharjah-Mumbai Route

The Indian carrier will also resume services to Kuwait and Bahrain from Kochi in its winter schedule.

Etihad Increases Virgin Australia Stake To 6.1%

The Abu Dhabi-based carrier bought over $10 million worth of Virgin shares to raise its stake from 5.1 per cent last month.

UAE Banks Cash In On Euro Disaster

Fears of a Euro lending shortage appear overblown as local banks grow their loan books.

Job Opportunities In The UAE Bleak

New consumer confidence survey reveals there are few jobs currently available in the country.

Abu Dhabi Food Prices Rise 3.3% During Ramadan

The biggest hikes were recorded in the prices of fish, vegetables and meat, according to official statistics.

UAE Banks Told To Extend Loan Maturities For Citizens

The UAE Central Bank has told lenders to reschedule citizens’ loans by more than 48 months.

RAK Airport Passengers Up By 78.3%

RAK Airport sees influx of European and Russian tourists.

UAE Unveils New Online Property Auction

Asteco partners with real estate auction website to provide new solution for UAE property owners.

UAE Awards Nuclear Fuel Supply Contracts Worth $3bn

The contracts have been awarded to six international companies including Rio Tinto and France’s Areva.

Drake & Scull Q2 Net Profit Drops 42%

The contracting company said that higher finance costs for acquisition and contracts provisioning led to the fall in profit.

UAE’s Deyaar Sees Small Q2 Profit Rise

The developer slashed costs to offset revenue drop following the collapse of Dubai’s property market.

Foreign Investors Spend $5.9bn On Dubai Property

Indians, Pakistanis, Brits, Russians and others have bought 12,875 properties in the first half of the year.

Lawless Appointed Jumeirah CEO And President

Dubai Holding has said that Gerald Lawless, executive chairman of the Jumeirah Group, will take on his new role from September.

Abu Dhabi’s Non-Oil Trade Grows 27.7% In 2011

According to official statistics, the emirate’s non-oil merchandise trade reached Dhs139.4 billion in 2011.

Emaar’s Apartment Sales Pick Up In Q2

The Dubai-based developer said that revenue from the sale of condominiums in the second quarter reached over $190 million.

TAQA H1 Revenues Up 67 %

Abu Dhabi oil company TAQA saw increased profits in H1 2012 owing to strong power and water performance and divested assets.

Dubai Trade Licences Up 17 %

Dubai trade licences saw a significant jump as UAE confidence steadily rebounds.

Emirates Resumes Flights To Libya

The Dubai-based airline will begin operating flights to Tripoli from October 29.

Dana Gas Reports 79% Rise In H1 Net Profit

The natural gas company saw a boost in profit because of increased production and higher oil prices.

FAL Oil Recruits Restructuring Officer For Debt Talks

The UAE-based oil trader looks to hire a CRO as its forced to cut operations in the country by 60 per cent.

Emaar Announces New Mosque In Dubai

The mosque, spread over 40,000 square feet, will be located in Downtown Dubai.

Eid Holidays Announced In UAE

The Eid-el-Fitr holidays for public and private sector companies in the UAE will begin on Friday, August 17.

Top Ten Salaries In The UAE

UAE salaries on average saw a slight increase year on year in 2012 overall, with human resources leading the pack.

UAE’s Tabreed Appoints New CEO

The Abu Dhabi-based district cooling utility company appointed Jasim Thabet as its new chief executive officer.

Aldar Posts Three-Fold Rise In Q2 Profit

The Abu Dhabi developer reported a net profit of $113.8 million in the second quarter of the year.

Dubai’s Arabtec Posts $3.1m Q2 Loss

Rising administrative and contract costs lead the construction company to post a loss during the second quarter of the year.

Air Arabia Q2 Net Profit Up 31%, Shares Rise

The UAE’s largest low-cost airline saw gains from under-served routes last quarter.