FAL Oil Recruits Restructuring Officer For Debt Talks

The UAE-based oil trader looks to hire a CRO as its forced to cut operations in the country by 60 per cent.

Emaar Announces New Mosque In Dubai

The mosque, spread over 40,000 square feet, will be located in Downtown Dubai.

Eid Holidays Announced In UAE

The Eid-el-Fitr holidays for public and private sector companies in the UAE will begin on Friday, August 17.

Top Ten Salaries In The UAE

UAE salaries on average saw a slight increase year on year in 2012 overall, with human resources leading the pack.

UAE’s Tabreed Appoints New CEO

The Abu Dhabi-based district cooling utility company appointed Jasim Thabet as its new chief executive officer.

Aldar Posts Three-Fold Rise In Q2 Profit

The Abu Dhabi developer reported a net profit of $113.8 million in the second quarter of the year.

Dubai’s Arabtec Posts $3.1m Q2 Loss

Rising administrative and contract costs lead the construction company to post a loss during the second quarter of the year.

Air Arabia Q2 Net Profit Up 31%, Shares Rise

The UAE’s largest low-cost airline saw gains from under-served routes last quarter.

Julphar Signs Insulin Deal With US-Based Firm

Under the deal, EMD Millipore will sell recombinant human insulin manufactured by UAE-based pharmaceutical firm Julphar.

UAE Bank Deposits Drop 1.6% In June

Total bank deposits in the country fell from Dhs1.125 trillion in May to Dhs1.107 trillion at the end of June.

Palm Jumeirah most expensive area in Dubai; Jumeirah Village cheapest

Where in Dubai should you rent or buy? What will it cost you? And is it even worth it? Read what Meghna Pant, features editor of Gulf Business has to say.

Dubai Seizes Dhs4 million Worth Of Fakes From Warehouse

The goods seized included 5,300 television sets, 7,000 DVD players and various other devices including stereo sets, pressing irons and vacuum cleaners.

UAE Selects Consultants As World Expo Bid Gathers Pace

Jones Lang LaSalle and Mace will support the development of the proposed site for the 2020 World Expo in Dubai.

Dubai Financial Market Q2 Profit Drops 31%

DFM’s net profit fell to Dhs10.2 million during the second quarter of the year, as revenues reduced.

REVEALED: Top Places To Buy Property In Dubai

Gulf Business lists the top nine property growers, including Arabian Ranches, The Springs and Palm Jumeirah.

Julphar’s H1 Revenue Up 13.5%

The pharmaceutical company has seen a profit rise of 5.6 per cent for the first half of last year, with operating profit also up.

Emirates Says Qantas Deal Likely In Six Months

Emirates’ chairman Sheikh Ahmed bin Saeed al-Maktoum clarified that the deal will not include a revenue-sharing agreement.

UAE’s ADIB Q2 Profit Rises 2.3%, Warns On Year

Abu Dhabi Islamic Bank said Eurozone pressures and new regulations in the UAE will hit earnings for the rest of 2012.

Dubai’s DP World Container Volumes Climb 7.5%

The port operator said that it handled 28.2 million TEU (twenty-foot equivalent container units) in the first half of the year.

Dubai Collects Dhs2bn Via Online Payments In H1 2012

The amount collected by the Dubai government’s online payment services in the first half of 2012 increased 21 per cent year-on-year.

Dubai’s DIFC Authority To Split Into Two Entities

Dubai International Centre will split into DIFCA and DIFC Property arms to boost its development.

Australia, UAE Sign Deal For Uranium Sales

The UAE recently granted a licence to Emirates Nuclear Energy Corp for the construction of the country’s first nuclear reactors.

Sorouh Posts 33% Rise in Q2 Profit

Increased revenues from national housing projects boosted the profit made by the Abu Dhabi-based property developer.

Fitness First to create 300-400 new jobs

Health club chain on an aggressive expansion spree across the Middle East with a target of 100 clubs in the next five years.

Nakheel H1 Revenue Up 112% at Dhs3.1bn

The Dubai-based developer posts first half profits of $208.82 million, up 36 per cent from the same period last year.

Dubai Airport’s June Passenger Traffic Up

The busy airport saw a rise in footfall of 13.7 per cent for the first half of the year to 27.93 million with air cargo also increased.

UAE’s Du Posts 57% Rise In Q2 Profit

The telecoms operator made a net profit of Dhs325.5 million in the second quarter of the year.

GCC To Award $65.5bn Construction Deals In 2012

The UAE accounts for the largest share of the region’s construction market, according to new research.

Emaar profit rises 45% to Dhs1.2 bn, led by retail

Property giant Emaar reports 2012 profit rise citing Dubai’s strengthening economy.

Buy Now Before UAE Rents Go Up

Dubai Property oversupply is vanishing fast, says Peter Cooper, editor of Arabianmoney.net