Home next GCC next UAE

UAE

DP World begins $1.6bn Dubai port upgrade; says H1 container volumes up

The Dubai-based company handled 30.6 million twenty-foot equivalent units in the first half of the year

Dubai real estate agency S&K shuts down, files for bankruptcy

S&K Estate Agents (also known as Smith and Ken) has been handed to liquidators in a process to pay back creditors

Emirates to launch second daily service to Lisbon from Jan 2016

The new service will be operated by a Boeing 777-300 aircraft and follows strong demand on the route, the airline said

UAE to cut state spending by 4.2% this year – central bank

Consolidated government spending is expected to drop to Dhs 460.6bn in 2015 from Dhs 480.8bn in 2014

Standard Chartered appoints audit head as new UAE chief executive

Group head of internal audit Julian Wynter will replace Mohsin Nathani, who resigned from the bank in April, sources said

RBS ends plan to sell UAE transaction services to ADCB

The deal was called off in part because ADCB asked at a late stage to select which of RBS’ customers it would take, sources said

Dubai Financial Market Q2 net profit drops 48%

The firm, which runs securities trading in Dubai, made a net profit of Dhs 132.4m in Q2

LuLu group buys London’s Great Scotland Yard building for $170m

The iconic building is currently being converted into a five-star hotel

Nakheel posts 53% net profit rise in first half of 2015

The company attributed the increase in profit to a rise in property handovers

British man arrested in Abu Dhabi airport for “insulting the UAE”

The man was also accused of verbally abusing security officers at the airport

Dubai Holding unit seeking to sell stake in Maltese telco Go

Emirates International Telecommunications has a 60 per cent stake in Go

UAE’s First Gulf Bank Q2 profit boosted by lending rise

FGB made a net profit of Dhs 1.45bn for the three months to June 2015, up 8 per cent to Q2 2014

Dubai residential rents fell 3% in Q2 – ADIB report

The drop in rents was attributed to a surge in supply

Exclusive interview: Dubai Airports CEO Paul Griffiths on conquering the world

Griffiths waxes lyrical on everything from F1 and space tourism to oil prices and the shortfalls of democracy

Relationships must come ‘before business’ in GCC

People looking to do business in the region must respect cultural hierarchies, says senior Arab official

Dubai Holdings unit says to pull out of Malta telecoms company

Emirates International Telecommunications Malta, which holds a 60 per cent share in Go, did not say how it plans to divest its stake

R Hotels awards deal for Palm Jumeirah resort to ANC Contracting

The hotel operator is currently building a 253-room four-star property in Palm Jumeirah

UAE oil price deregulation to boost economy, government finances

The move, which comes into effect from August 1, will increase fuel prices for residents

Abu Dhabi wins bid to host 2020 world swimming championship

The UAE capital beat rivals Lima and Almaty to win the bid

Dubai’s Emaar says committed to India, still part of MGF joint venture

Media reports in India quoted sources as saying Emaar was close to ending its decade-old joint venture with MGF Developments

Bahraini insurer ARIG plans full ownership of Takaful Re

ARIG already owns 54 per cent of Dubai-based Islamic reinsurer Takaful Re

Affordable housing in Dubai draws residents back from Sharjah

Rents in Sharjah fell 3 per cent quarter-on-quarter in Q2 as a reverse relocation trend to Dubai gained traction, says report

Emirates to launch flights to Bamako in Mali

The service to Bamako will help Emirates improve its connectivity in Africa, the airline said

Dubai’s Emaar Malls Q2 profit rises 43%

Emaar Malls made a net profit of Dhs 412m in the second quarter of 2015

Dubai’s Union Properties says plans three projects worth $544.5m

The developer did not provide any details about the projects

UAE energy ministry says to liberalise gasoline, diesel prices

Domestic fuel prices are currently among the lowest in the world because of heavy state subsidies

UAE official: domestic gasoline prices may rise “slightly”

Gasoline and diesel will be deregulated from Aug. 1 and a new pricing policy linked to global levels will be introduced

Sharjah to develop major leisure project, water canal in Dibba area

The new attraction will be located in Al Hisn Island in Dibba area, which is close to Fujairah

Doha, Dubai most expensive Middle Eastern cities for expats

A new index finds that the cities are among the most expensive worldwide for beer and wine

UAE’s inflation rate up 4.2% y-o-y in June

Housing and utility costs saw the biggest jump in June as they rose 10.2 per cent, statistics show