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Flydubai Gets $172m Financing

The amount, secured from a unit of Standard Chartered Bank, will be used to buy two new aircraft.

JAFZA To Repay $2bn Sukuk Early

A majority of JAFZA’s stakeholders have consented to the early redemption of the Sukuk, due in November.

UAE Gives Up Beef With French

Imported meat ban is lifted as UAE’s Ministry of Environment and Water signs new agreement.

UAE’s Global Trade Ranking Drops

The country is ranked 19th in the World Economic Forum’s Global Enabling Trade Report this year.

Etisalat To Cut Rates By 30%

UAE telecoms operator Etisalat will reduce international call tariffs from the second half of 2012.

Emirates NBD Appoints CEO

Mohammad Kamran will head up two of Emirates NBD’s subsidiaries including Capital Limited.

Facebook To Open Dubai Office

The social network eyes regional advertisers as a new source of investment following the firm’s IPO last week.

Revealed: Fantasy Arab Football Team

Gulf Business takes a look at several Arab-funded football clubs and picks a fantasy team purely of Arabian funding.

TAQA Eyes Turkey Investments

The Abu Dhabi National Energy Company (TAQA) is studying energy investments in Turkey.

US Firm Plans 500 Hires In Abu Dhabi

Digital Domain Media Group is opening up an animation and visual effects studio in Abu Dhabi’s twofour54.

Dubai Duty Free Ups Loan To $1.5bn

The airport retailer has increased the size of its loan facility because of high demand, an official has said.

DIFCI $1bn Loan Near

DIFC Investments close in on a $1 billion dollar loan to refinance an upcoming sukuk maturing in June.

10 Reasons Why Dubai Is Back

Gulf Business rounds up ten indicators that show that the emirate is back on the growth trajectory.

Abu Dhabi Picks Banks For Merger

Four banks have been chosen as advisors for the proposed merger been Aldar and Sorouh, according to sources.

DIB Releases New Sukuk

A deal for a new Islamic bond from DIB is being arranged by a host of local and global banks.

Mashreq: ‘Forget The Glory Years’

Exclusive: Al Ghurair says UAE will not see pre-2008 profits for the foreseeable future.

Drake & Scull Eyes $300m Iraq Deal

The contract will be an oil and gas project to build a pipeline in Basra, said the company’s CEO.

New Dhs500m SME Fund In UAE

The fund, launched by NBAD and Khalifa Fund for Enterprise Development, targets Emirati entrepreneurs.

UAE’s Non-Oil Trade Up 23%

The country’s non-oil trade increased to Dhs927.7 billion in 2011, according to official statistics.

Naphtha At Record Highs

ADNOC’s highest ever offers for naptha contracts are likely to influence Saudi Aramco talks

Nakheel Plans New Housing Project

Financing has been secured for the new project on Dubai’s Palm Jumeirah, said Nakheel’s chairman.

UAE To Settle Nationals’ Debt

The UAE government will settle the personal loans of citizens whose debts are less than Dhs5 million.

Dubai RTA Awards Dhs38m Deals

The contracts are part of Dubai’s Dhs1 billion five-year plan to improve internal roads in the city.

Gulf States Warned Off Lebanon

UAE, Bahrain and Qatar have urged their citizens not to travel to Lebanon as Syria unrest spreads.

UAE Faces $30bn Debt Wall In 2012

According to the IMF, UAE’s state-related entities have a “significant” amount of debt maturing in the next few years.

Revealed: Top 5 Real Estate Gainers

Gulf Business reveals the top five UAE real estate firms based on profit gains in the first quarter of the year.

Dubai Villas Record Rent Rise

Average lease rates for villas in the city increased by three per cent during the first quarter of the year.

HSBC Launches Dhs1bn SME Fund

The bank said that it expects loans to the UAE’s SME sector increasing by 20 per cent this year.

NMC Reports Rise In Q1 Revenues

The UAE healthcare provider said that revenues rose 18 per cent to $166.4 million during the period.

Drake & Scull Q1 Profit Drops

The UAE-based construction firm posted a 15.6 per cent drop in its first quarter net profit.