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Top Five Cities In The Middle East

Three UAE cities feature in the list that ranks cities on economic and social factors, labour rights and quality of life.

RAKBank Posts 13.5% H1 Profit Gain

The UAE-based lender reported a net profit of Dhs668.7 million for the first half of the year.

ENBD Q2 Profit Drops 13%

Dubai-based Emirates NBD made a net profit of Dhs647 million in the second quarter of the year.

Dubai’s Old Town Rent Up 10% For H1

Rent prices in the area are up for the first six months of the year, out-pricing costs in Downtown.

Mashreq Posts 12% Rise In Q2 Profit

The Dubai-based bank made a second-quarter net profit of around Dhs320 million, mainly due to a drop in provisions.

UAE’s Tejari To Double Staff By 2015

The Dubai-based e-procurement technology provider plans to expand operations across the GCC.

Tarek Sultan, chairman of Agility

Five mins with… The chairman of Agility, the region’s largest logistics firm.

Dubai’s Population To Grow 4%

The emirate’s strong infrastructure investment is fueling growth in the economy, says new report.

UAE Confidence Levels High

Qatar has the highest levels in the Middle East while Egypt sets a record; Lebanon scores the lowest.

Ramadan Food Prices To Be Fixed

The government will ensure shops and supermarkets do not overcharge customers during the Ramadan period.

UAE Nuclear Power Plant Green Light

The country’s first nuclear station will begin construction as the licence is agreed for ENEC and KEPCO.

Air Arabia Sees Hike In Passengers

The low-cost airline carried 1.3 million passengers during the second quarter of 2012, up 15 per cent from Q2 2011.

UAE Announces Ramadan Timings

Working hours for private sector companies have been cut from eight to six per day, the labour ministry has said.

UAE Ships First Oil Via Fujairah

The UAE aims to increase exports from the new oil terminal as threats to close the Strait of Hormuz rise.

Banks In UAE Need 10% Liquid Assets

The new rule, introduced by the central bank, will begin next year and extend until the end of 2014.

UAE Nuclear Plant Gets Eco Nod

The country’s first nuclear plant receives approval from the UAE’s environmental regulator.

Dubai Rents Up 10% In 2012

Rents for both villas and apartments have increased year-on-year in 2012, says a new report.

UAE Ships First Oil Via Fujairah

The UAE aims to increase exports from the new oil terminal as threats to close the Strait of Hormuz rise.

Banks In UAE Need 10% Liquid Assets

The new rule, introduced by the central bank, will begin next year and extend until the end of 2014.

UAE Nuclear Plant Gets Eco Nod

The country’s first nuclear plant receives approval from the UAE’s environmental regulator.

Barclays Off UAE Rate-Setting Board

The bank has withdrawn from the interbank panel following the Libor scandal in the United Kingdom.

BAE Systems Expect UAE Deal

Farnborough Air Show: British defence company plans new $10 billion UAE jet deal with Eurofighters.

UAE-French JV Wins $817m

Abu Dhabi’s National Petroleum Construction Co and French Technip to build offshore oil facilities.

Cost Of Food Drops 15%

Government reminds retailers and suppliers not to raise food prices ahead of Ramadan and iftars.

IBM To Expand In The ME

The global technology firm plans to increase regional hiring and open more offices in a major expansion drive.

Dubai Duty Free Gets $1.75bn Loan

The Dubai airport retailer will use funds from the international credit facility to finance on-going expansion.

Emirates Islamic Bank Prices Sukuk

The $500 million Sukuk, EIB’s second issue this year, is priced at par and is due to mature in January 2018.

Etihad Q2 Revenue Up 31%

First half revenues for Abu Dhabi’s airline are up 30 per cent as passenger numbers soar to almost five million.

UAE Bank Deposits Drop In May

Total deposits in the country decreased by 1.2 per cent during the month to close at Dhs1.1 trillion.

UAE Seeks Strong Egypt Ties

The country has called for a closer relationship with Egypt as it begins a new era under President Mursi.