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UAE Warns About Herbal Products

The health ministry has said that many herbal products may contain harmful drugs and are also packed in unhealthy conditions.

DFM Sees Rising Activity

The value and volume of shares traded on the Dubai Financial Market increased in February.

UAE Residents Unhappy With Pay

Many people in the country are dissatisfied with their current financial position, according to a Bayt.com-YouGov survey.

RBS Ends Tie-Up With Rasmala

Royal Bank of Scotland said it no longer requires equity research on Middle Eastern companies from Dubai’s Rasmala Investment Bank.

IPIC Signs $850mn Loan

Abu Dhabi’s International Petroleum Investment Company is refinancing the $850 million, three-year loan it signed in February 2009.

Shopping Festivals Bring In Tourists

Hotels in Dubai and Jeddah saw occupancy levels rising in January 2012, according to TRI Hospitality Consulting.

Drydocks To Offer $2.2bn Debt Plan

Dubai’s Drydocks will present its restructuring plan for its $2.2 billion loan facility next week.

UAE’s Non-Oil Trade Rises

The country’s non-oil trade reached Dhs759.8 billion during the first ten months of 2011.

Standard Chartered Sees UAE Growth

While the bank’s income from the country rose seven per cent last year, expenses also increased by six per cent.

Noor Islamic Has Ended Ties With Iran

Dubai-based Noor Islamic Bank clarified that it has ended all business relations with Iranian banks.

US Targets Dubai Bank Over Iran

Noor Islamic Bank has reportedly been forced to cut off its banking business with Iran by the US Treasury.

New System To Check Prices In UAE

The Ministry of Economy will now be able to monitor the flow of essential goods and their prices across the country.

Lacoste Builds ME Brand Presence

The brand hopes to increase its regional visibility by continuing to sponsor events like the Dubai Duty Free Tennis Championship.

Abraaj Consortium Eyes Viking

The UAE-based private equity firm is holding talks to acquire Viking, an integrated oilfield service company.

UAE Traffic Fatalities Drop In 2011

The number of people killed in traffic accidents fell by 12.8 per cent last year, according to the interior ministry.

World’s Richest Nation: Qatar

The Gulf country with a GDP of $88,000 in 2010 qualifies as the world’s wealthiest nation, according to Forbes.

DFM Index Books 2011 Losses Of 17%

The Dubai Financial Market, the worst performing Gulf bourse last year, managed a small fourth quarter profit.

US Eyes UAE For Military Aircraft Sale

The UAE has reportedly expressed interest in buying the V-22 Osprey, a tilt-rotor aircraft from the US.

UAE To See $15bn Deals In 2012

Construction contracts worth $15 billion will be signed in the country this year according to Ventures Middle East.

Taqa Raises $215mn From Sukuk Sale

The ten-year Malaysian ringgit-denominated Islamic bond carried a 4.65 per cent profit rate.

New App To Control Kids

The mobile app released by Norton in the UAE, will allow parents to monitor their children’s smartphone activities.

Abu Dhabi Airport Welcomes More Passengers

More than 1.1 million passengers passed through the UAE capital’s international airport during January 2012.

Air Arabia 2011 Net Profit Falls 13%

The airline’s net profit for the fourth quarter of 2011 increased by seven per cent year-on-year to reach Dhs78.7 million.

Etisalat To Outsource Services

The telecoms operator will not let go of any UAE citizens as part of the move, which is part of a restructuring plan to cut costs.

Etisalat To Shut Down India JV

The decision follows the ruling of an Indian court to cancel 122 telecoms licences in the country amid a corruption scandal.

Dubai Raises $675mn For Tram Project

The proceeds from the dual-currency loan will be used to fund the first phase of the Al-Sufouh project.

Al Jaber CEO To Be Replaced: Sources

Abu Dhabi-based Al Jaber Group may hire a new CEO as part of a $1 billion restructuring plan, according to sources.

HAAD Issues Warning On Fake Products

The Health Authority of Abu Dhabi (HAAD) has found that many slimming products contain dangerous drugs.

DP World Eyeing $1bn Loan: Sources

The company is reportedly in talks with banks for a loan to repay its $3 billion deal that matures in October.

Abraaj Eyeing Turkey’s Calik

Dubai-based Abraaj Capital is planning to bid for Calik Holding’s media assets, according to sources.