The final draft of the UAE’s new bankruptcy law will be ready by the end of this year, the Justice Minister has said.
The Dubai property developer announced that net profit for the first quarter of the year dropped 72.7 per cent to Dhs22 million.
Abu Dhabi shelled out close to $1 billion on Manchester City’s Barclays Premier League title, writes Neil Churchill
A joint venture between US-based Paladin Capital Group and Invest AD plans to launch a $100 million MENA fund.
Aabar said that it had only raised its stake in Arabtec to 20.7 per cent and not 53 per cent as previously reported.
The Dhs150 million project will replace the existing zoo and will also include a butterfly park and golf courses.
Abu Dhabi Islamic Bank reported that revenues rose 7.3 per cent to reach Dhs874.8 million during the period.
The Dubai investment conglomerate recorded a revenue drop of three per cent during the period.
The airport is increasing passenger capacity from 250,000 to two million in the next 12 to 18 months.
Average food and beverage prices rose sharply during the period, according to official statistics.
The Emirates’ inflight magazine will produce its June issue from the world’s highest office, at Burj Khalifa.
The emirate is planning a massive advertising campaign in New York’s Times Square to attract more US visitors.
The airline said that despite an increase in revenue, its profit was hit by rising fuel costs and unrest in the region.
The telecoms operator posted a net profit of Dhs333.1 million during the first quarter of the year.
The Abu Dhabi investment fund said that a majority of its expenditure will relate to its semiconductor unit ATIC.
The construction firm made a net profit of Dhs84.1 million during the first quarter of the year.
Under the agreement, China State Construction develop real estate projects in Abu Dhabi.
Etihad Rail and DP World have signed an agreement to develop an intermodal rail terminal in Jebel Ali Port.
Dubai Financial Market (DFM) recorded revenues of Dhs69.1 million during the first quarter of the year.
UAE’s luxury watch retailer Ahmed Seddiqi & Sons has acquired Abu Dhabi-based jewellery chain, Al Manara.
The Gulf carrier reduced its Airbus A350 order, cancelling aircraft worth $2.3 billion at current list prices.
The Gulf states have assured South Korea that they will make-up for any shortfall of oil supply from Iran.
The international hotel operator is planning to add 13,000 new rooms to the region by 2017.
Dubai-based Shuaa Capital reduced losses by 67 per cent year-on-year in the first quarter of the year.
The low cost carrier recorded a net profit of Dhs49.2 million during the first quarter of the year.
Dubai’s Mall of the Emirates will host Prada’s third biggest store worldwide and American pancake house IHOP.
An Arabtec consortium is in final talks for a $3 billion contract to expand Abu Dhabi’s international airport.
The airport is increasing measures to cater to the rising number of visitors from the Gulf.
The Gulf countries are discussing means to improve regional security issues.
The Dubai utility received several Expressions of Interest (EOIs) from international firms for 10MW plant.
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