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Arabtec Wins $60m Deal From Aabar

The contract includes the construction of a residential development in Abu Dhabi.

Dubai’s Foreign Trade Hits Dhs1.1 trillion

India is the emirate’s top trading partner, according to the customs authority.

Abu Dhabi To Exit Daimler

Abu Dhabi’s investment fund Aabar is reportedly looking to exit its its stake in the German carmaker.

Revealed: The World’s Top Ten Retail Nations

The UAE is the world’s second most popular country for global retailers, according to property adviser CBRE.

Tamweel Posts 33% Drop In Q1 Profit

The UAE-based mortgage lender recorded a net profit of Dhs18 million during the first quarter of the year.

UAE Urges Iran To End Island Standoff

The UAE Foreign Minister has said that the dispute with Iran concerning Abu Mousa could spiral into an international issue.

Mubadala To Manufacture Parts For Boeing

This is the first time Boeing has signed a direct outsourcing deal for parts production in the Arab region.

Giordano Unveils Expansion Plans, Web Store

Global fashion store will launch 14 more regional stores this year.

Dubai’s Residential Market Back On Track

Property prices in the city are hitting early 2008 levels, and the rental market is also positive, says a new report.

Nakheel Posts 33% Rise In 2011 Profit

The Dubai-based developer reported a net profit of Dhs1.3 billion for 2011.

Al Ghurair appointed DIFC Authority chairman

Mashreq bank chairman Abdul Azuz Al Ghurair is also vice chairman of DIFC’s higher board of directors.

Dubai Issues 17% More Licences In March

The majority of the licences were issued to businesses in the tourism sector, said Dubai’s Department of Economic Development.

Experts Slam Buying Facebook ‘Likes’

Digital experts have slammed the practice of hiring fake users to ‘like’ a page.

GCC States Plan Meet Over Disputed Island

The meeting in Riyadh will discuss the dispute between the UAE and Iran over Abu Musa island, sources said.

UAE Central Bank Posts Dhs3.7bn Net Profit

The bank plans to distribute 55 per cent of its 2011 net profit to the ministry of finance, reported WAM.

Mubadala Reports $1.1bn Net Loss

The Abu Dhabi-based investment company attributed the loss to negative fluctuations in its financial investments.

Arabtec Nominates Aabar Execs To Board

Dubai-based builder Arabtec has nominated four top Aabar executives to its board.

Sheikha Lubna Eyes China Investment

The two countries are set to strengthen bilateral trade ties, according to the UAE Minister of Foreign Trade.

Drake & Scull Won Dhs1.3bn Deals In Q1

The UAE-based construction company will eye major contracts in Qatar this year.

Dubai Duty Free Picks Banks For Loan

The airport retailer has chosen Dubai Islamic Bank, HSBC and Emirates NBD to arrange its $1.1 billion loan facility.

GCC Produces Record Aluminium Supply

Annual production in the GCC could reach five million tonnes by 2014.

Arab Billionaires Worth $121.3bn

Saudi Prince Alwaleed topped the list of regional billionaires released by Forbes with a fortune of $18 billion.

UAE Banks Falling Short – Experts

UAE banks will have to stop ‘yesteryear’ practices if they are to survive future competition.

TAQA Sells Tesla Motors Stake

Abu Dhabi National Energy Company (TAQA) booked a profit of $113 million on the sale.

UAE Oil Output Hit 2.7m bpd In March

The UAE oil production was reportedly at full capacity because of the rising demand.

DIC Reaches $2.5bn Debt Deal

Dubai International Capital, the private equity arm of Dubai Holding, has reached a final agreement with creditors for restructuring its debt.

Bahrain Tops Region In Global IT Index

The UAE and Qatar also ranked high for their IT technologies on the global index compiled by the World Economic Forum and INSEAD.

New System To Protect Indian Contract Workers

The new process, jointly introduced by the UAE and India, aims to improve transparency in the recruitment of workers.

Groupon Sued By Investor

The daily deals website has been facing increasing criticism from customers and investors across the world.

Drydocks Gets Approval From 98% Of Creditors

Only one creditor has not yet accepted the $2.2 billion debt restructuring plan proposed by the Dubai-based shipbuilding unit.