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Former Arabtec CEO Says Has Three Offers For His Stake

Hasan Ismaik, who resigned as head of the firm last week, said that he has offers from government entities and an international construction firm.

UAE Developer Al Thuriah Launches Two Residential Towers In Sharjah

The towers will be located in the Sahara complex between the borders of Sharjah and Dubai.

Arabtec Pushes Dubai Index To Post Biggest Daily Loss In 10 Months

Half a dozen stocks fell their 10 per cent daily limits.

Guest Spending Across Dubai’s Luxury Hotels To Drop 15% During Ramadan

Hotels can actually increase guest spending by up to 24 per cent by targeting guests with individually relevant information.

Stock News: Dubai’s Arabtec Extends Drop

Arabtec confirmed on Tuesday that it had laid off a “limited number” of staff to improve productivity.

Dubai’s Arabtec Says Has Laid Off “Limited Number” Of Staff

Reports claimed that the Dubai contractor laid off hundreds of staff following the departure of CEO Hasan Ismaik.

Etihad Rail To Begin First Phase Operations In “Near Future” – Official

The first phase of the $40 billion Etihad Rail project includes a 266-kilometre long rail network that runs from Shah to Ruwais.

UAE’s Gulftainer To Operate New Cargo Terminal In Florida

Gulftainer will invest up to $100 million in equipment and employees to operate a container and cargo terminal at Port Canaveral.

UAE Lender NBAD’s Head Of Asset Management Quits

Mark Watts, who joined the bank in 2010, resigned for personal reasons, sources said.

Portugal Records 140% Rise In UAE Tourist Numbers

The increase in tourism numbers was spurred by the launch of a daily Emirates flight route to Lisbon back in July 2012.

Stock News: Dubai’s Arabtec Hits Sentiment Across The Gulf

The company’s stock fell its daily limit of 10 per cent for a second session in a row.

Ferrari World Abu Dhabi In Major Expansion, Plans 7 New Rides

The theme park has already started the expansion process, and aims to complete it in three years.

UAE Announces Ramadan Working Hours For Private Sector

Working hours will be reduced by two hours during Ramadan for private sector employees with no reduction in salaries.

Dubai Contractor Arabtec Lays Off Staff, Execs In Wake Of CEO Departure

Large numbers of staff, including at least two senior executives, have departed the company since Ismaik resigned.

Abu Dhabi’s Mubadala Petroleum Says Makes Malaysian Gas Discovery

Mubadala Petroleum said it found substantial gas in the Pegaga well in its operating block SK320.

Abu Dhabi’s Al Hilal Bank Plans $500m Capital-Boosting Sukuk

The transaction is earmarked to price in the area of six per cent, a document from lead arrangers showed.

Flydubai Opens Dubai Business Class Lounge

Free wifi, food and beverages available to the airline’s premium passengers at Terminal 2

Restaurant Chain Just Falafel Signs Deal For 10 More US Outlets

The fast food chain will open restaurants in the Texan cities of Houston and Austin, as part of its expansion.

Expo 2020 Attracting Students, Professionals To Dubai – Expert

The six month long event is also encouraging business colleges to set up base in the emirate.

UAE Announces Ramadan Working Hours For Public Sector

Federal government and ministry employees will work from 9am to 2pm.

Exclusive Interview: Masafi CEO Reginald Randall

Randall faced waves of uncertainty when UAE water exports were banned. The Masafi CEO reveals how he got the ship firmly under control with a new plant in Turkey.

UAE Businessman Khalaf Al Habtoor Buys Intercontinental Budapest Hotel

The acquisition is Al Habtoor’s second hotel in the Hungarian capital.

Abu Dhabi Exchange Signs Bonds Listing, Trading Agreement

As per the deal, bonds can be listed and traded through the exchange by local and international investors, with NBAD using its account with Euroclear to process the transactions.

Dubai Tram Is Almost 93% Complete- RTA

The tramway’s stations are also almost complete, confirms RTA chairman Mattar Al Tayer.

Apple’s iPhone 5 Named UAE’s Most Popular Smartphone In Q1 2014

Samsung Galaxy S3 was the second most commonly used smartphone with 2.7 per cent of market share, followed by iPhone 5s that had 2.5 per cent share, official data reveals.

French City Nice Most Popular Destination For UAE Private Jet Users

Paris and London are the second third most favoured destinations, according to a study by Private Jet Charter.

UAE Warns Against Lebanon Travel Following Friday Bombing

UAE officials have also urged Emirati citizens in Lebanon to leave the country immediately.

Different Arab money

Growth In UAE, Saudi, Qatar Drawing Global Funds To Set Up Shop

Nomura Asset Management and Lazard Asset Management have opened new offices in Dubai this year.

Dr. Nasser Saidi: Understanding The MSCI Upgrade

The founder and president of Nasser Saidi & Associates explores the impact of the Emerging Market Upgrade on the UAE and Qatar.

Former CEO Of Dubai’s Arabtec Says Will Hold On To Stake

Hasan Ismaik who resigned from Arabtec on Wednesday, holds a 28.85 per cent stake in the company.