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UAE Could Launch $1bn Bond In 12 Months

The UAE will issue its first federal sovereign bond between 12 and 18 months after it is prepared.

World Developers Offered Refund

Thailand island investors on The World development have been offered a full refund.

Emirates Hires 3,800 Cabin Crew

Emirates plans to hire 3,800 new cabin staff this year, taking its total number of in-flight crew to nearly 20,000.

Dubai CFOs On Hiring Spree

The majority of financial executives in Dubai are planning to increase staff this year, according to a survey.

Dubai Bank Ratings Removal Requested

Emirates NBD requests withdrawal of Dubai Bank’s Fitch and Moody’s ratings.

ADX Denies Trade Inquiry

The Abu Dhabi Securities Exchange has denied reports that it’s going to investigate trading patterns of Aldar and Sorouh.

ENBD May Lay Off 15% Of Staff

According to sources, the UAE-based bank is planning to let go of its employees to cut costs. The bank has refused to comment.

Dubai Mulls Essex House Hotel Sale

Government-owned Dubai Group is currently reviewing the potential sale of the Manhattan-based property.

GCC Oil And Gas Reserves Worth $65trn

The region’s hydrocarbon reserves account for almost a third of the world’s reserves, says QNB Capital.

Aldar, Sorouh Eye Merger

The UAE-based property developers are discussing ways to merge in a government-backed tie-up.

Abu Dhabi Will Issue New Hotel Licences

The emirate will not stop issuing new hotel licenses as previously reported by local media, but will be selective in the number it grants.

Sharjah Wooing Tourists

More than 1.5 million tourists visited the emirate last year, and the city is putting in several efforts to attract more visitors in the future.

17 GCC Billionaires Make Forbes List

The region’s representatives on Forbes’ annual list of the World’s Billionaires have a combined net worth of $65.4 billion.

Dubai Lynx Awards Announced

P&G was named advertiser of the year, while Y&R Dubai bagged the advertising agency of the year award.

NMC Plans London IPO

Healthcare provider NMC hopes to raise $250 million through the listing, and plans to use the funds for further expansion.

ENBD Issues First CNY Bond

The 750 million renminbi bond, which matures in 2015, was 5.7 times oversubscribed, the bank said.

ME Sukuk Volumes To Reach $14bn

The issuance of Islamic bonds in the region could reach over $14 billion this year because of increasing investor demand, according to HSBC.

Drake & Scull Wins India Contract

The utilities unit of Drake & Scull International has won the Dhs100 million contract to set up a water system for a thermal power station in India.

Du’s Profits Fall On Royalty Fees

The telecoms operator reported a net profit excluding royalty of Dhs1.8 billion in 2011, a 47.8 per cent rise over the previous year.

Aabar raises Arabtec Stake

The move makes the Abu Dhabi-based sovereign wealth fund one of the largest shareholders in Arabtec.

UAE Bank Deposits Rise

Total bank deposits in the UAE reached Dhs1,069.7 billion at the end of December 2011, according to the central bank.

Korea Gets UAE Oilfields Stake

A Korean consortium has signed a deal with ADNOC to acquire a 40 per cent stake in three oilfield projects in the UAE.

UAE Warns About Herbal Products

The health ministry has said that many herbal products may contain harmful drugs and are also packed in unhealthy conditions.

DFM Sees Rising Activity

The value and volume of shares traded on the Dubai Financial Market increased in February.

UAE Residents Unhappy With Pay

Many people in the country are dissatisfied with their current financial position, according to a Bayt.com-YouGov survey.

RBS Ends Tie-Up With Rasmala

Royal Bank of Scotland said it no longer requires equity research on Middle Eastern companies from Dubai’s Rasmala Investment Bank.

IPIC Signs $850mn Loan

Abu Dhabi’s International Petroleum Investment Company is refinancing the $850 million, three-year loan it signed in February 2009.

Shopping Festivals Bring In Tourists

Hotels in Dubai and Jeddah saw occupancy levels rising in January 2012, according to TRI Hospitality Consulting.

Drydocks To Offer $2.2bn Debt Plan

Dubai’s Drydocks will present its restructuring plan for its $2.2 billion loan facility next week.

UAE’s Non-Oil Trade Rises

The country’s non-oil trade reached Dhs759.8 billion during the first ten months of 2011.