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UAE

Dubai’s Drake & Scull records Q2 net loss

DSI had reported worsening earnings in eight of the preceding nine quarters

Dubai Financial Group sells stake in EFG-Hermes to Natixis

Based on Thursday’s closing price, the stake is worth more than $100m

Nakheel, RIU begin work on Deira Islands beachfront resort

The 800-room resort is slated for completion in Q3 2019

Dubai Crocodile Park to open in 2016

The new attraction will features hundreds of crocodiles, according to reports

Abu Dhabi private clinics report staff layoffs

Changes forcing Emiratis to pay for part of their key are impacting local private hospitals

Emaar launches luxury residences in Dubai Creek Harbour

The ‘Creek Horizon’ project will be located close to the $1bn Tower at Dubai Creek Harbour

Dubai’s IMG theme park delays opening date

The mega indoor theme park complex was scheduled to open on August 15

Developer Damac acquires Dhs 1.26bn of land near Dubai Canal

Dubai’s Damac Properties Q2 net profit drops 37.4%

The developer reported a net profit of Dhs886.8m in the second quarter

Gemstone selects Kempinski to manage Dubai Business Bay residences

The new property is expected to be completed in 2019

Dubai’s RTA to boost taxi fleet by 40% to 7000 by 2021

The RTA’s new five-year plan will also see 50 per cent of the taxis converted into hybrid vehicles

Dubai’s Arabtec Q2 reports seventh straight quarterly loss

The contractor made a net loss of Dhs186.4m in the second quarter

Why UAE must make it easy for women to sponsor their spouses

Expatriate women in the UAE face greater workplace challenges than their male counterparts, says senior exec

Dubai government to buy new electric and hybrid cars

Up to 10 per cent of new vehicles will be electric and hybrid cars

China’s ICBC aims for benchmark dollar bond via Dubai by year-end

It would be the third bond issue by China’s largest bank via its DIFC office

Emirates offers EK521 passengers $7,000 compensation

Flight EK521 crash landed on arrival in Dubai last week

Ismaik’s Marya Group reveals listing plans

Firm says it will eventually go public after increasing investment portfolio to $1bn

UAE cautions citizens against wearing burqas in Swiss region

Swiss canton Ticino implemented a burqa ban last month

Dubai Parks confirms October opening but some rides will be missing

Parts of one of the operator’s three theme parks will not be ready for the opening date

Pod-shaped luxury floating homes to be unveiled in Dubai

The Dutch developer behind the homes is expecting regional sales worth $50m over the first year

Dubai’s Nakheel to build new 375,000 sq ft retail complex at Dragon City

The developer has awarded a Dhs117.5m contract to build the complex

UAE Space Agency and Lockheed Martin reveal space training programme

The announcement follows a memorandum of understanding signed between Lockheed and the space agency in June

Dubai’s Deyaar makes standalone facilities management company

Deyaar remains the full owner of the firm

Dubai property prices drop for sixth consecutive quarter

Average sales rates fell by 12 per cent year-on-year in Q2, finds CBRE

Dubai’s Nakheel awards Dhs1.5bn contract for Al Khail Avenue

The Dhs2bn project will feature hospitality, retail and entertainment facilities

Abu Dhabi’s TAQA reports Q2 net loss of $160m

Revenues from oil and gas fell by 34.6 per cent to Dhs1.04bn

Rio Olympics: Judoka Toma wins UAE bronze medal

Sergiu Toma claimed the country’s second-ever medal at the Olympics

Dubai’s Damac to launch Akoya land plots, JVC apartments

Sale of both projects will begin on August 20

UAE appoints committee to review maternity law

The UAE’s Gender Balance Council is also planning to introduce part-time shifts in departments and companies

Pictures: Sharjah to open new five-star theatre-themed hotel

The Act hotel is set to be officially opened in the next few months

Abu Dhabi’s GASCO receives LNG storage vessel

The floating import vessel follows delays to plans for an onshore facility in Fujairah, according to reports