The logistics firm said weakness in Egypt and investment costs in new African operations weighed on its results.
The Dubai International Financial Centre (DIFC) economy posted a ‘GDP’ of $3.13 billion in 2011, up seven per cent from 2010.
The utility company is not planning to issue a bond despite a drop in borrowing costs, its CEO has said.
Three of the country’s largest banks have all posted positive results with First Gulf Bank reporting a 14 per cent profit rise.
Abu Dhabi Commercial Bank posted a net profit of Dhs733 million for the second quarter of the year.
Residents can now complete residential and commercial tenancy contract registration at select post offices.
The private equity firm announced that Tom Speechley, senior partner at Abraaj, will take over as the CEO of UK-based Aureos.
NBAD, the largest bank by market value in the UAE, saw second quarter profit grow on higher net interest income.
The UAE-based bank made a net profit of Dhs1.02 billion during the period, beating analysts’ forecasts.
As Tiffany & Co. announce a new JV in the region, a global report says the luxury goods market is growing.
Finance Minister Sheikh Hamdan says the country will fill any gap “from its own resources.”
Three UAE cities feature in the list that ranks cities on economic and social factors, labour rights and quality of life.
The UAE-based lender reported a net profit of Dhs668.7 million for the first half of the year.
Dubai-based Emirates NBD made a net profit of Dhs647 million in the second quarter of the year.
Rent prices in the area are up for the first six months of the year, out-pricing costs in Downtown.
The Dubai-based bank made a second-quarter net profit of around Dhs320 million, mainly due to a drop in provisions.
The Dubai-based e-procurement technology provider plans to expand operations across the GCC.
Five mins with… The chairman of Agility, the region’s largest logistics firm.
The emirate’s strong infrastructure investment is fueling growth in the economy, says new report.
Qatar has the highest levels in the Middle East while Egypt sets a record; Lebanon scores the lowest.
The government will ensure shops and supermarkets do not overcharge customers during the Ramadan period.
The country’s first nuclear station will begin construction as the licence is agreed for ENEC and KEPCO.
The low-cost airline carried 1.3 million passengers during the second quarter of 2012, up 15 per cent from Q2 2011.
Working hours for private sector companies have been cut from eight to six per day, the labour ministry has said.
The UAE aims to increase exports from the new oil terminal as threats to close the Strait of Hormuz rise.
The new rule, introduced by the central bank, will begin next year and extend until the end of 2014.
The country’s first nuclear plant receives approval from the UAE’s environmental regulator.
Rents for both villas and apartments have increased year-on-year in 2012, says a new report.