Home next GCC next UAE

UAE

Video, Pictures: Sandstorm In UAE, Saudi Arabia

Air traffic disruptions have been confirmed in Dubai and parts of Saudi Arabia.

UAE Sandstorm Disrupts Air Traffic In Dubai, Abu Dhabi

Many flights coming into Dubai from South Asia, Iran and the GCC region have been delayed or cancelled.

Carrefour Signs Up As First Retailer For Upcoming Legends Mall In Dubailand

The 300,000 sqft mall, located within the Living Legends development, is set for completion by the end of 2016.

Dubai’s Budget Airline Flydubai Begins Chennai Flights

The carrier will operate three flights per week to Chennai.

Dubai’s DP World To Buy Canada’s Fairview Container Terminal For $457m

The terminal, in Prince Rupert, British Columbia, has a capacity of 850,000 twenty-foot equivalent unit (TEU).

UAE Companies Law Eases Flotations, Seeks More Investment

The law reduces the minimum “free float” of shares in company flotations on the UAE’s two main stock markets to 30 per cent from 55 per cent.

Stock News: Stronger Oil Supports Saudi; Hollywood Deal Lifts Dubai

Brent crude oil futures reversed early losses to rally to $55.50 barrel.

Dubai Bank CBD To Buy $817m Of UAE Company Loans From RBS

The portfolio of loans was mostly to large United Arab Emirates-based companies.

UAE Plans To Boost Its Gas Import Capacity – Energy Minister

The UAE is building an LNG import facility in Fujairah, known as EmiratesLNG, with a capacity of nine million tonnes a year.

Dubai Ranked Second Globally For Prime Rent Growth In 2014

The emirate recorded rental growth of 8.1 per cent last year, found Knight Frank’s global index.

Kuwait’s NBK Sets Price Guidance For Capital-Boosting Bond

The lender has set price guidance for the bond, which will boost its Tier 1 — or core — capital, at 5.875 per cent on Wednesday.

Dubai Developer Al Barari Launches Luxury Villa Project, The Nest

The residential project will feature 99 four-bedroom villas priced from Dhs7.7 million onwards.

Dubai Islamic Bank Makes Offer For Remaining Tamweel Shares

The bank currently holds 86.5 per cent of Tamweel.

UAE’s TAQA Slashes Capex Plans, Dividend, After Big Q4 Loss

The company lost Dhs3.63 billion in the fourth quarter of 2014.

Emirates, Etihad Nearly Collide In Indian Airspace

An onboard warning system in cockpits alerted the pilots of an impending collision, averting a major accident.

UAE’s Al Jaber Group Suspends CFO Pending Discplinary Action

Sam Deeb, the group’s CFO, was appointed in January 2014.

Rwanda Signs Deal With UAE-Based Company For Water Treatment Plant

Under a public-private partnership arrangement lasting 27 years, water will be taken from the Nyabarongo River and treated for use in the capital Kigali.

New Supercar Making Facility in Dubai To Start Production In 2016

W Motors, makers of the Lykan supercar, confirmed that work on the facility was progressing well.

Abu Dhabi’s TDIC Delays Fundraising Plans For Huge Shopping Mall – Sources

The move by the Abu Dhabi state-owned investment fund casts doubt on whether this key part of the emirate’s infrastructure plans will go ahead.

GCC States Move Towards Introducing VAT

A legal team has been assigned to build a framework by May this year for the eventual introduction of VAT in the region.

Hunger Games-Inspired Zone To Open In Dubai Parks And Resorts Project

The new zone will feature theme park attractions inspired by Lionsgate’s blockbuster motion picture franchises The Hunger Games franchise and Step Up.

Dubai’s Arabtec Says Appoints CEO For Its Construction Unit

Raja Ghanma has been promoted from chief operating officer to CEO of Arabtec Construction, Arabtec Holding said in a bourse filing.

Global FDI Flows Fall 8% In 2014 As Economic Growth Falters

Foreign direct investment (FDI) to the UAE, which although grew 25 per cent in 2014, did not reach the estimated amount of $14.4 billion.

Dubai’s Drake & Scull Proposes No 2014 Dividend

The company’s profit fell to Dhs100.7 million ($27.42 million) in 2014 from Dhs166.5 million a year earlier.

Dubai Developer Damac Says Sales Boosted By Foreign Buyers

Ziad El Chaar said the momentum in the property market was being driven by foreign buyers, both those living in Dubai and abroad.

Etihad Makes Entry Into Spain

Spanish capital is now served by all three major Gulf airlines

Roamer App Says It Has Bypassed Block Of VoIP Providers In UAE

The app allows users to make low-cost calls when roaming aboard through an internet or GSM connection.

Dubai’s ENOC Appoints New CEO

Saif Humaid Al Falasi will replace Saeed Al Khoory, who has served as ENOC’s CEO since 2007.

Dubai Airport Passenger Traffic Rises 5.3% In Feb

Passenger numbers climbed to 5.97 million in February from 5.68 million a year earlier.

UAE’s Al Noor Hospitals 2014 Profit Rises 36% On More Outpatients

Abu Dhabi’s largest private healthcare provider, listed in London, reported a net profit of $84 million for 2014.