Home GCC UAE

UAE

DIFC Looks To Asia For Growth

The financial centre welcomed 56 new companies in 2011 and is eyeing companies from emerging markets.

CME, Oman Fund Raise DME Stake

The cash injection into the Dubai Mercantile Exchange (DME) has diluted the stake of Dubai Holding.

Etisalat May Restructure

The telecoms operator said it is discussing restructuring options as it struggles to stall dropping profits.

ENBD Plans Renminbi Bond Sale

The bank has mandated Emirates NBD Capital, HSBC and Standard Chartered Bank to arrange investor meetings.

Abraaj Acquires Aureos Capital

The transaction is set to create the world’s largest SME focused private equity group.

11.8mn Ride Dubai Metro’s Green Line

The recently inaugurated Green Line saw more than 11.8 million passengers during its first five months.

Gulf Funds Eyeing ONGC Stakes

Sovereign wealth funds from the UAE and Kuwait have reportedly agreed to buy stakes in India’s ONGC.

ENBD Q4 2011 Profit Fall

The bank reported that net profit for the full year increased by six per cent from 2010.

Dubai Will Support State Entities

The Dubai government will continue to help government-related bodies, says Sheikh Ahmed bin Saeed al-Maktoum.

Etihad Reports $14mn Net Profit

This is the first time that the UAE airline, started eight years ago, has recorded a profit.

Dhs2.1bn Surplus For Dubai Municipality

The civic body said that cost-cutting measures were implemented to achieve a budget surplus in 2011.

Damas Hires Nomura For Deal

Doha-based Mannai is planning to buy 58.8 percent of Damas in a deal estimated to be worth around $445 million.

Dolphin Raises $1bn From Bond Sale

Abu Dhabi’s Dolphin Energy will use the proceeds to meet its refinancing needs.

DGCX Volumes Rising

Dubai Gold and Commodities Exchange saw volumes increasing 95 per cent year-on -year in January.

Emirates Eyes $517mn Loan

The airline is planning an Islamic loan facility to fund two of its planes, according to reports.

UNB’s Q4 Net Profit Drops

The Abu Dhabi lender’s profits fell 19.2 per cent to Dhs135 million during the fourth quarter of 2011.

The National Investor Sheds Workforce

Abu Dhabi-based investment firm may shed more than half of its staff.

Etisalat May Sell African Towers

The telecoms operator might also share infrastructure facilities with other carriers.

World’s Tallest Tower In Dubai

Tameer Princess Tower is the highest residential building on earth at 414 metres.

UAE, Qatar Stop Trade Finance To Iran

The move follows the stringent financial and trading sanctions imposed by the US and EU on Iran.

UAE To Cap Credit Card Interest Rate

The UAE’s central bank is reportedly planning to limit credit card interest rate at 18 per cent annually.

MAF Launches $400mn Sukuk

The mall operator is undertaking several new projects across the Middle East this year.

UAE To See 4% Growth in 2012

According to the country’s Economy Minister, the Arab Spring has spurred growth in the UAE.

GCC Tourists Boost Abu Dhabi

Abu Dhabi has recorded its most successful year ever in terms of hotel guest arrivals with some 2,111,611 visitors.

Bearish 2011 For UAE Stock Markets

The value of shares traded reached its lowest level since 2004.

SMEs Fight for Funding

As the UAE climbs into steady recovery, is it any easier for small businesses to access bank lending?

Forex Trading Soars

As global markets witness a rollercoaster ride, local investors are turning to forex, a rising star on the trading platform.

UAE Business Schools Thriving

Students are scrambling to update their CVs amidst economic uncertainty

Counterfeiting: A Dangerous Game

As the region drowns in fake goods, fraudster gangs are endangering the local economy, creativity and safety.