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UAE’s Waha Capital Q2 Net Profit Jumps On AerCap Deal

Waha, whose shareholders include Abu Dhabi government entities, made Dhs1.14 billion in the second quarter of the year.

UAE’s Second Tallest Tower Is 80% Complete, Says Developer

The Marina 101 project in Dubai, being developed by Sheffield Holdings, is slated for handover in early 2015.

Asian, Western Firms Bid For UAE Oilfields – Sources

A final decision on the winning firms is unlikely before early 2015 as the country decides whether to bring in Asian firms or stick with old partners, sources said.

Dubai Says Will Have Disabled-Friendly Parks By 2016

Dubai Municipality plans to begin restructuring all the major parks in the emirate to make them more accessible for disabled people.

Almost 41% Of UAE Businesses To Base Future Trade In Renminibi – Report

A HSBC survey found that business relationship benefits and competitive pricing were driving UAE businesses to adopt trade in Renminibi.

Stock News: Arabtec Plunges Again, Drags Dubai Down Further

Arabtec tumbled its 10 per cent daily limit while the Dubai index dropped 3.9 per cent.

Arabtec’s Board To Meet On July 24 To Review Q2 Results

Arabtec shares have been swinging wildly in recent weeks, moving the entire Dubai stock market.

Etisalat’s Profit Jumps 26% On Maroc Telecom Buy

The former telecom monopoly, which operates in 19 countries, made a net profit of Dhs2.5 billion.

Emirates To Start A380 Mumbai Flights

The start of double-decker services marks the end of a long negotiating road for Emirates and start of new passenger transfer opportunities

UAE May Issue Federal Government Bonds By 2018 – Finance Ministry

The purpose of issuing bonds is to meet the requirements of Basel III, according to a senior official.

Abu Dhabi Islamic Bank Q2 Net Profit Jumps 22.6%, Beats Estimates

In May, the lender got regulatory approval to purchase much of Barclays’ retail operations in the UAE.

RTA Begins Diversion Works On Sheikh Zayed Road For Dubai Canal Project

The first phase of traffic diversion will take place in the Dubai-Abu Dhabi direction near Safa Park, RTA said.

Stock News: Arabtec Drags Down UAE, Saudi Earnings Disappoint

Arabtec tumbled its daily 10 per cent limit, dragging down the entire Dubai stock market to close six per cent lower.

UAE Private Sector Workers To Get Two-Days Eid Al Fitr Holiday

The first and second days of the month of Shawwal have been announced as Eid-al-Fitr holidays for the private sector.

Dubai’s Property Prices Grow 36% Y-O-Y In Q2 But Market Slowing, Says JLL

Residential rents in the emirate also rose 24 per cent year-on-year during the second quarter of 2014, according to a JLL report.

UAE-Based Strata Signs $16.5m Deal With PCT For A380 Programme

Under the deal, Strata will outsource the treatment of composite materials for the production of A380 Flap Track Fairings to PCT.

UAE Announces 9-Day Eid Al Fitr Holiday For Public Sector

Federal ministries and departments will be closed from Sunday July 27, and reopen on August 3.

Stock News: Arabtec Tumbles, Weighs On Dubai

Arabtec tumbled its daily 10 per cent limit, dragging down the entire Dubai stock market, where the main index dropped 5.4 per cent.

Dubai Bank ENBD Repays Final $1.1bn Of 2008 Government Support

The lender had repaid the rest of its total Dhs12.6 billion of support in 2013.

Aabar Says Arabtec Talks Would Be Confidential

Aabar’s statement followed media reports last week that said the fund was in talks to buy at least part of the 28.85 per cent stake owned by Arabtec’s former chief executive Hasan Ismaik.

UAE lender UNB Beats Forecasts Slightly With 5.6% Q2 Profit Gain

The lender reported a net profit of Dhs515.6 million for the three months to June 30, up from Dhs488.3 million in the same period last year.

Nakheel Launches New Mega Villa Project In Dubai

The project, which has an estimated construction value of Dhs2.5 billion, is expected to be completed by 2016.

Emirates Suspends Kiev-Bound Flights

The airline said the flight ban to Kiev would remain in effective until further notice.

UAE Private Equity Firms Ithmar Capital, Gulf Capital Planning IPOs

The economic rebound seen both locally and internationally has seen deal-making revived in the last two years, with many now divesting stakes and looking for new opportunities.

Will Murky UAE Markets Face Stricter Regulation After Arabtec Debacle?

The Securities and Commodity Authority said a new “technical committee” would ensure the integrity of share trading and prevent any manipulation of stock prices.

Upgrade Or No Upgrade, UAE and Qatar Keep Frontier Investor Fanbase

UAE and Qatar stock markets rallied sharply over the past year in anticipation of the upgrade to emerging market status by index compiler MSCI.

New UAE Law Allowing Sell Downs To Boost Listings, Private Equity

Under the law, founders of a company can list shares through a sell down of a certain percentage of their existing stock.

Dubai’s Godolphin Sets Up Permanent Stable In Australia

The racing stable has appointed John O’Shea as the head trainer for its unit in Australia.

Dubai Financial Market Q2 Net Profit More Than Triples

The firm, which runs securities trading in Dubai, made a net profit of Dhs252.5 million.

Etihad Launches Daily Flights To Perth, Rome

New routes will better connect Etihad with Europe and Western Australia, the airline said in a statement.