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Majority Of UAE Workers Expect Pay Rise

According to a new survey, 63 per cent of employees in the UAE expect a wage hike in the next 12 months.

Etihad’s Revenues Soar In Q1 2012

The Abu Dhabi -based carrier recorded a 28 per cent year-on-year rise in revenues during the first quarter of this year.

Korea Eyes More Nuclear Plants In UAE

Korea Electric Power Corp, which is already building four nuclear power plants in the UAE, will begin talks to construct four more in the country.

Drydocks Files For Insolvency Protection

The move is expected to force all the creditors of the Dubai-based shipbuilding unit to agree to its $2.2 billion debt-restructuring plan.

NMC Raises $187m From IPO

The UAE-based healthcare provider listed its shares on the London Stock Exchange.

DFM Suspends Trading In Al Mazaya

Update: The Kuwaiti developer’s shares have now resumed trading on Dubai Financial Market.

Abu Dhabi Seizes Dhs4m Fake Goods

The emirate’s Department of Economic Development (DED) seized more than 24,000 counterfeit products last year.

Clinton Expresses “Regret” Over UAE’s Move

The UAE has shut down the Dubai office of the National Democratic Institute, a US-funded pro-democracy group.

HSBC Buys Lloyds Assets In UAE

The acquisition includes the retail, commercial and corporate banking businesses of Lloyds in the country.

DP World Profit Rises to $683 Million

The UAE-founded international ports company has cut its debts.

DIB Repays $750 million Sukuk

The bank said that it repaid the five-year Sukuk from its own resources.

Dubai Drydocks To Restructure $2.2bn Loan

Dubai’s ship building unit will ask its syndicated lenders to sign a lock-up agreement.

Global Shoppers Spend $497m During DSF

Interestingly, visitors from Russia were the biggest spenders in the UAE during the Dubai Shopping Festival, according to Visa.

JAFZA Eyes Loan Launch

Dubai’s Jebel Ali Free Zone is planning to launch a syndicated loan to partly refinance its $2 billion Sukuk maturing in November.

Pension Fund Will Benefit UAE Expats

As officials in Dubai complete the study for an expatriate pension scheme, experts say that the move will protect workers and improve the economy.

RBS Shares Rise After Abu Dhabi Takeover Talks

Britain is reportedly holding talks with Abu Dhabi to sell a part of its stake in Royal Bank of Scotland.

Mubadala Buys $2bn Stake In Brazil’s EBX

The move marks the first significant direct investment by the Abu Dhabi fund in Brazil and Latin America, it said.

Dubai Rents Rise In 2012

The rental rates for apartments and villas rose by one per cent in Q1 2012 compared to Q4 2011, according to Asteco.

UAE Mulls Uniform Corporate Tax Rate

A study is being conducted to check the economic impact of the move, which will introduce a single tax rate across the seven emirates.

Emirates NBD Approves 20% Dividend

Emirates NBD said that its shareholders had approved a cash dividend of 20 fils per share for 2011.

Al Futtaim Gets $500m Egypt Mall Loan

The Mall of Egypt will be one of North Africa’s largest shopping centres.

DP World To Repay $3bn Loan Early

The port operator has said that it will pay off its loan, which matures in October, six months ahead of schedule.

Dubai Falls Behind Abu Dhabi For Fraud Detection

While the UAE capital has taken stringent measures to ensure compliance, Dubai and the other emirates are still lagging behind, say experts.

MAF Holding Reports 10% Revenue Increase

Dubai-based mall and hotel firm pulls in profits amid MENA Arab Spring turmoil.

Emaar Apt Sales Fell 85% In 2011

The Dubai-based property developer saw overall revenues for 2011 falling by 33 per cent compared to 2010.

First Gulf Lends $350mn to AKT

The UAE lender’s loan will help Indonesian coal producer AKT to meet its working capital needs.

Emirates ID to Replace Labour Card

Employed UAE residents will not need a labour card from the end of June, an official from the labour ministry has confirmed.

Abraaj Buys 50% Stake In The Entertainer

Abraaj is making the acquisition through its subsidiary, Riyada Enterprise Development.

UAE Hotels See 80% Occupancy

The occupancy rate for hotels in February reduced by 2.4 per cent year-on year, according to STR Global.

Twitter Boasts 140 Million Users

The micro-blogging site, which is celebrating its sixth birthday, is now seeking to find the right revenue model.