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UAE Looks East For Oil Partners

New foreign partners, mainly from the Far East, are being targeted as stakeholders of the future.

Exclusive Interview: Abdul Aziz Al Ghurair, Mashreq CEO

Abdul Aziz Al Ghurair is the man behind Mashreq, the UAE’s largest privately owned bank. In a rare interview he opens up to Alicia Buller on the greed culture that engulfed the UAE’s
banks and lurched the industry into crisis.

Julphar Launches MSD Partnership

UAE-based business has teamed up with global enterprise MSD to target cardiovascular diseases.

DP World sells Adelaide Port

The Dubai-based port operator sold its 60 per cent stake to Australian firm Flinders.

Etisalat Gets New Chairman

Eissa Al Suwaidi has been appointed as the new head of the UAE telecoms company, replacing Mohammad Omran.

Dubai Airport Visitor Traffic Up

Number of visitors to Dubai’s International Airport climbs with a big increase from flydubai’s new Russia service.

UAE Car Dealer To Invest Dhs900m

Al Nabooda, the distributor of Porsche, Audi and Volkswagen in Dubai, plans major investment push.

Indian Remittance Tax Unclear

UAE exchanges say there is still no clarity regarding the Indian government’s proposed service tax on remittances.

Dubai Rents Rise Between 6-9%

Average apartment rents increased six per cent and villa rents rose nine per cent in Q2 2012, says Asteco.

Tourists To Abu Dhabi Rise 12%

The number of guests in the emirate’s hotels reached 192,374 during May this year, official statistics show.

Emirates Adds Saudi Flights For Ramadan

The airline will fly 73 extra flights to Jeddah and Medinah Al Munawarrah from July 20 to September 1.

Dubai Property Market Most Open

The UAE city is ranked as having the most transparent real estate market in the MENA region.

Abu Dhabi Crown Prince Meets Obama

The crown prince and the US president discussed regional issues and global energy prices during the meet.

UAE Firms May Go On Credit Card Strike

Restaurants and shops consider rejecting premium credit cards as Network International hikes fees.

Flydubai Launches Basra Route

Flights to Basra, the low-cost airline’s fifth destination in Iraq, are scheduled to start next month.

Arabtec Group Wins $2.9bn Deal

The Arabtec consortium, that includes Greek and Turkish firms, will build a terminal at the Abu Dhabi airport.

Nestle To Offer 800 Jobs In Dubai

The Swiss company is opening a Dhs500 million manufacturing plant in Dubai World Central.

Tycoon Nears Deal for Drydocks’ Stake

A firm linked to billionaire Robert Kuok is set to take a stake in Drydock’s Southeast Asia operations, say sources.

MAF Eyes $350-500m From Bond

UAE mall developer Majid Al Futtaim Holding plans to issue a dollar-denominated bond this year.

Top 10 Global Spenders In UAE

Visitors from the UK topped the list, spending almost $500 million in 2011, according to Visa.

Etihad, SpiceJet Deny Stake Sale

Media reports had claimed that Etihad and Qatar Airways were eyeing a minority stake in the Indian budget carrier.

UAE And Brazil Trade Rising

Trade links between the two countries have never been stronger as new figures reveal the growing relationship.

Abu Dhabi Optimism Rises

The emirate has seen consumer confidence rise in the first quarter of the year, say official statistics.

ADIA Values Emerging Equities

Abu Dhabi’s sovereign wealth fund expects emerging market stocks to outperform in the long-term.

UAE Mall Developer Picks Banks

Majid Al Futtaim has begun choosing banks to arrange investor meetings ahead of a second bond issue.

Dubai’s Daman Sells 22.7% Stake

The investment company, which plans to launch an IPO, raised Dhs100 million from the sale.

JAFZA Repays $2.04bn Sukuk

The free zone has repaid the Islamic loan five months early and consequently received a rating upgrade from Fitch.

UAE Signs Dhs435m Road Deals

Contracts have been signed for the construction of projects in Ras Al Khaimah and Khor Fakkan.

UAE’s Hormuz Bypass Opens

The new pipeline is expected to end the UAE’s dependence on the shipping route that Iran has threatened to block.

Gulf Seen Muted After MSCI Move

The UAE and Qatar have not been upgraded to emerging markets status by index compiler MSCI.