Home GCC UAE

UAE

UAE’s Etisalat Q4 Profit Jumps 47%, Below Forecast

It made an annual net profit of Dhs8.9 billion, up from Dhs7.1 billion in 2013.

Emirates President Tim Clark Urges US Govt To Ignore Subsidy Claims

He was responding to allegations made by the three largest U.S. airlines, Delta Air Lines, American Airlines and United Airlines.

UAE’s First Gulf Bank Sees 9-11% Loan Growth In 2015

FGB, the third-largest lender in the UAE by assets, reported a 13 per cent rise in Q4 net profit in January.

Dubai’s DEWA To Open 100 Electric Vehicle Charging Stations In 2015

The authority inaugurated the first station within its main office on Wednesday.

Microsoft Launches Gold Editions Of Lumia 830, 930 In UAE

The 830 will be priced at Dhs1,349, while the 930 will cost Dhs1,799 and both will be available from this week.

Developer Damac Reveals Plans to Create A Rainforest In Dubai

The rainforest, to be created within a dome, will be located in Damac’s Akoya Oxygen project.

UAE Firm, Armed Forces In $235m Support Contract For Oshkosh Vehicles

EARTH will provide support for 750 mine resistant ambush protected (MRAP) vehicles which Oshkosh Corp sold to the Gulf Arab state in 2013.

US Firm Raytheon Agrees To Equip UAE Armoured Vehicles With Rockets

The firm did not give a contract value or say when delivery will begin.

Airbus To Deliver 30 Commercial Aircraft To UAE Airlines In 2015

The UAE currently comprises around 20 per cent of Airbus’ Middle East market, an official confirmed.

UAE Companies Are Biggest European Football Shirt Sponsors This Season

Firms in UAE and Qatar invested about 160 million euros this season, almost a quarter of the total spend worldwide.

Dubai Aerospace Explores StandardAero Sale – Sources

State-owned DAE purchased aviation services firm StandardAero from the Carlyle Group in 2007.

Abu Dhabi Ship Building To Deliver 3 UAE Warships By 2016, Eyes New Deals

The company is holding discussions with some of the GCC countries as well as other international ones.

UAE Still In Talks With BAE, Dassault On Planes, Signs Airbus Satellite Deal

The UAE has signed a Dhs3.745 billion ($1.02 billion) contract with Airbus and Thales

UAE’s RAKBANK Will Raise $300m Through 2019 Bond Tap

Order books for the bond tap have crossed $500 million, as per the document.

Ex-Apple CEO-Backed Obi Mobiles Says Has 4.3% UAE Marketshare

The brand launched in the UAE six months ago and its current portfolio includes eight smartphone models.

Etisalat-Owned Maroc Telecom’s 2014 Profit Up 5.6%

Increased revenues from its African subsidiaries helped the company post a strong profit.

Emaar Launches Residential Project ‘Acacia At Park Heights’ In MBR City

The development features 479 residences and is located within Dubai Hills Estate.

UAE’s Abraaj Group Buys Stake In Turkish Online Retailer Hepsiburada

No purchase price or stake size was disclosed.

Dubai Marina Blaze Pushes Case For Home Insurance In The UAE

The UAE has an extremely low home insurance penetration rate with just six per cent of the population insured against emergencies, experts say.

Internet Of Everything To Drive Dubai’s Smart Economy

Mobile collaboration and Bring Your Own Device will open up opportunities worth Dhs17.9 billion in Dubai by 2019, says Shukri Eid, director at Cisco Consulting.

Dubai Refiner ENOC Hires M&A Team, Close To $1.5 bn Loan -Sources

The state-owned company might use some of the proceeds from a $1.5 billion long-term loan for its expansion plans.

Dubai’s Rents To Soften In 2015 Due To Increasing Supply

About 12,000 apartments and over 2,000 villas will be added to the city’s existing inventory in 2015, Asteco said.

Ahli United Bank Q4 Net Profit Jumps 37.6%, Proposes Flat Dividend

The bank’s net attributable profit for the last quarter of 2014 was $106.2 million.

Dubai Crown Prince Sheikh Hamdan’s Twitter Followers Cross 1m

Sheikh Hamdan is now the second most followed leader in the UAE on Twitter after Dubai’s Ruler Sheikh Mohammed bin Rashid Al Maktoum.

Why Dubai Must Prevent Another Tower Blaze

A spate of high-tower fires sends out a worrying picture of Dubai to the world.

UAE’s Arabtec Wins $253m Of Saudi Oil And Gas Work

The projects include upgrading liquefied gas and refinery facilities for national oil firm Saudi Aramco, the company said.

Ten Workers Killed In Abu Dhabi Building Fire

The blaze gutted the two-storey building, which contained seven shops on the ground floor.

Emirates Hires Banks For UK-Guaranteed Sukuk Of Up To $1bn

Sources said the deal could close by the end of the first quarter.

Arms Exporters Eye Big Deals At UAE’s IDEX, Mideast’s Largest Defence Show

The Middle East is the largest market driver in the industry with billions of dollars spent annually on buying military equipment.

Fire Rips Through Dubai Marina’s Torch Tower

No fatalities were reported at the time of publishing.