Home GCC UAE

UAE

Stock News: Saudi Arabia Shares Tumble, Dubai Extends Drop

Dubai plunged 6.7 per cent, Abu Dhabi slid 2.1 per cent and Qatar dropped 2.7 per cent.

Live: Updates From Gitex 2014

All the news and views from the region’s biggest ICT event.

Air Berlin Dealt Blow As Germany Rejects Some Etihad Codeshare Flights

Etihad and Air Berlin have in the past shared codes on flights to around 60 destinations, meaning their number of shared flights will more than halve.

Sudden IPO Rush Threatens UAE Listings Market Revival

After five years without an IPO of notable size, Emaar Malls Group attracted orders worth more than $47 billion for its $1.58 billion Dubai listing last month.

UAE Retailers Go Omni-Channel Amidst Tough Competition

As the UAE’s shifts to omni-channel retail, industry players will have to innovate to keep pace.

Dubai’s Meraas Says Hollywood Theme Park Will Have DreamWorks Animation Zone

The upcoming mega Dubai Parks and Resorts project features five theme parks including Hollywood and Bollywood-inspired parks.

Emirates Airlines Says New Plane Tracking Systems Unnecessary

Tim Clark told the German online magazine that modern planes already had the necessary equipment but measures should be taken to ensure pilots can’t turn off tracking devices.

Video: Google Launches Street View Imagery Of Abu Dhabi’s Liwa Desert

The company placed its Trekker camera on top of a camel to capture the imagery.

Nakheel Awards Dhs35m Contract For Badrah Pavilion Community Centre

Badrah Pavilion is Nakheel’s sixth neighbourhood retail centre and will serve 800 homes at the developer’s Badrah and Veneto communities.

ENOC Signs Dhs50m Contract With Emirates Transport Company

Emirates Transport has been meeting the staff transportation needs of ENOC’s group of companies for the last seven years.

Flydubai Adds Three New Routes To Central and Eastern Europe

The airline will fly to Bratislava, Sofia and Prague starting from December.

Stock News: Dubai Rebounds In Line With Global Markets

Markets across the region fell on Wednesday as global equities came under pressure from worries about economic growth.

Meraas Adds Mega Retail Unit, Canal To Its Theme Park Project In Dubai

The developer said that it will add an expansive retail offering at Riverpark, the project’s entrance plaza that interconnects the three theme parks.

Etihad Launches New Airline Partnership

Called Etihad Airways Partners, the group initially includes six airlines and aims to provide improved networks and better frequent flyer benefits.

Dubai Crude Trade Hits Record Volume On Chinaoil Buys

The purchases strengthened the Dubai cash price, flipping it into a small premium against its swap for the first time in two months.

Omniyat Group, Drake & Scull Begin Work On Palm Jumeirah Project

The project is the highest residential development in Palm Jumeirah and is scheduled to be finished by 2017.

Nakheel Posts 47% Net Profit Rise For First Nine Months Of 2014

The developer reported a net profit of Dhs2.6 billion, aided by strong growth in its retail and leasing businesses.

UAE’s Gulf Capital Invests $25m In Egypt’s Amak Petroleum

The investment is expected to help Amak, a firm specialising in providing petroleum services, to fund its growth plans.

Abraaj Group Buys Majority Stake In South Africa’s Libstar

Libstar operates across South Africa through manufacturing, supply and distribution and employs about 4,200 people.

Second Holiday Inn Opens In Abu Dhabi

IHG targets mid-market growth with second Holiday Inn in UAE capital

New Website For Luxury Property Launches In UAE

Luxury SQft will focus on the UAE’s affluent areas and will have only 100 real estate agents promoting their properties.

Drugmaker GlaxoSmithKline Investigating Corruption Allegations In UAE

The company is already investigating alleged bribery in other Middle East countries, including Lebanon, Jordan, Syria and Iraq.

Stock News: Emaar Properties Lifts Dubai On Fresh IPO Plans

Shares in Emaar, the market’s second most heavily traded stock on Tuesday, jumped 3.1 per cent to Dhs11.50.

Abu Dhabi’s ADWEA And GDF Suez Close $1.5bn Mirfa IWPP Financing

The Mirfa IWPP was financed through a mix of bank debt and equity from the shareholders, a statement from ADWEA said.

Mubadala Acquires Full Ownership of IT Firm Injazat After Buying HP’s Stake

The Abu Dhabi fund acquired Hewlett-Packard’s 40 per cent stake in Injazat for an undisclosed sum.

Nakheel Says Ibn Battuta Mall Welcomed 313,000 Visitors During Eid

Visitor figures at the mall in Dubai averaged 78,300 per day during the four-day break.

Abu Dhabi’s ADS Securities Eyes Investment Banking, Asset Management

The firm announced it had completed the acquisition of 100 per cent of London-based Pioneer Trader Ltd.

Sony’s Xperia Z3 Dual And Z3 Compact Launched In UAE

Xperia Z3 Dual is priced at Dhs2,999 while Xperia Z3 Compact will cost Dhs2,499.

Stock News: Emaar Lifts Dubai After Announcing Fresh IPO Plans

Shares in Emaar rose 1.4 per cent to Dhs11.35 and were the main support for Dubai’s index, which added 0.4 per cent.

UAE Business Activity Growth Falls To 4-Month Low In September

UAE firms saw output growth accelerate to a three-month high of 63.2 points in September from 62.2 points in August but new orders growth dropped to 64.0 points.