Flydubai Launches Basra Route

Flights to Basra, the low-cost airline’s fifth destination in Iraq, are scheduled to start next month.

Arabtec Group Wins $2.9bn Deal

The Arabtec consortium, that includes Greek and Turkish firms, will build a terminal at the Abu Dhabi airport.

Nestle To Offer 800 Jobs In Dubai

The Swiss company is opening a Dhs500 million manufacturing plant in Dubai World Central.

Tycoon Nears Deal for Drydocks’ Stake

A firm linked to billionaire Robert Kuok is set to take a stake in Drydock’s Southeast Asia operations, say sources.

MAF Eyes $350-500m From Bond

UAE mall developer Majid Al Futtaim Holding plans to issue a dollar-denominated bond this year.

Top 10 Global Spenders In UAE

Visitors from the UK topped the list, spending almost $500 million in 2011, according to Visa.

Etihad, SpiceJet Deny Stake Sale

Media reports had claimed that Etihad and Qatar Airways were eyeing a minority stake in the Indian budget carrier.

UAE And Brazil Trade Rising

Trade links between the two countries have never been stronger as new figures reveal the growing relationship.

Abu Dhabi Optimism Rises

The emirate has seen consumer confidence rise in the first quarter of the year, say official statistics.

ADIA Values Emerging Equities

Abu Dhabi’s sovereign wealth fund expects emerging market stocks to outperform in the long-term.

UAE Mall Developer Picks Banks

Majid Al Futtaim has begun choosing banks to arrange investor meetings ahead of a second bond issue.

Dubai’s Daman Sells 22.7% Stake

The investment company, which plans to launch an IPO, raised Dhs100 million from the sale.

JAFZA Repays $2.04bn Sukuk

The free zone has repaid the Islamic loan five months early and consequently received a rating upgrade from Fitch.

UAE Signs Dhs435m Road Deals

Contracts have been signed for the construction of projects in Ras Al Khaimah and Khor Fakkan.

UAE’s Hormuz Bypass Opens

The new pipeline is expected to end the UAE’s dependence on the shipping route that Iran has threatened to block.

Gulf Seen Muted After MSCI Move

The UAE and Qatar have not been upgraded to emerging markets status by index compiler MSCI.

Dubai Draws Lebanese Tourists

The number of Lebanese visitors staying at Dubai’s hotels rose two per cent year-on-year during Q1 2012.

Arkan Gets Dhs1.4bn Loan

The construction company will use the amount to refinance existing debt and fund expansion.

Emirates Plans To Lease Aircraft

Dubai’s flagship airline is looking at plans to lease aircraft in a deal with DNA2 and Goldman Sachs.

Jumeirah Eyes Indian Market

The luxury hotel chain group has specific discussions going on in Mumbai and Delhi, its chairman has said.

UAE Not Pressured To Issue Bonds

The country has adequate financial resources to bridge its budget gap, a senior minister has said.

Four Seasons To Open Dubai Resort

The Canadian hotel operator announced that it will open its first resort in Dubai by mid-2014.

ENOC Unit Gets $100m Financing

The amount will be partly used to construct a fuel pipeline from Jebel Ali to the Dubai Airport.

DSI Wins Dhs96m Oman Deals

UAE contractor Drake & Scull International has secured a series of MEP contracts in Oman.

Top MENA Picks For Retailers

The UAE ranks highest in the region for global retail expansion, says a report by A.T. Kearney.

Dubai’s Tamweel Eyes Sukuk Issue

The Islamic mortgage lender picks ADCB, Emirates NBD and UBS for meetings on asset-backed Sukuk.

Emirates Repays $550m Sukuk

The Dubai-based airline announced that it has repaid its Islamic bond on maturity date.

Dubai Deflation Eases In May

Deflation in the emirate reduced to 1.2 per cent last month, mainly driven by a weak housing market.

DIFC Unit Repays $1.25bn Sukuk

DIFC Investments raised money through a syndicated facility to help repay the Islamic bond.

UAE Needs 13,000 Doctors By 2014

The country has begun an urgent recruitment drive to source thousands of new doctors.