Home GCC UAE

UAE

LuLu To Open Six New Hypermarkets In Malaysia

The Abu Dhabi-based group will invest around $200 million in its hypermarkets across Malaysia.

Emirates To Stay Put At Dubai International During Runway Maintenance

Move likely to be welcomed by resident and transfer passengers but both airports will be under scrutiny

Abu Dhabi Ports Expect Year-End Spike In Traffic As Projects Boom

Cargo traffic at Abu Dhabi’s Khalifa and Zayed ports combined is expected to top 12 million tonnes this year, up from 9.3 million tonnes in 2013.

Jobseekers On The Rise In The UAE As Hiring Increases

The number of job vacancies saw a two per cent year-on-year growth in March while jobseekers rose seven per cent, says a new survey.

Dubai Ranks Among World’s Top 25 Places To Visit On TripAdvisor List

The Dubai Fountain and the Creek were some of the attractions highlighted in the emirate.

New Six Flags Theme Park To Open In Dubai In 2017

The project, being developed in partnership with Meraas, will be located in the Dubai developer’s multi-themed park project in Jebel Ali.

Dubai’s Shuaa Capital Q1 Net Profit Dhs8.2m Vs Net Loss

The firm attributed higher revenues to a strong recovery in the capital markets and a pick-up in the local market for IPOs.

Dubai Real Estate Deal Values Up 38% In Q1 2014

The emirate recorded sales activities worth Dhs31.5 billion and mortgage transactions worth Dhs28 billion in Q1 2014, the land department says.

Customer Service “Biggest” Challenge For UAE Banks – Senior Official

Lenders hurting themselves by cold-calling customers, says head of Retail Banking at Emirates NBD.

Italian Court Bars Emirates From Flying Between Milan, New York

Emirates, which may appeal the decision, started to fly the Malpensa-New York route in October last year.

UAE Energy Minister Hopes Western Partners Keep Oilfields Role

ExxonMobil, Royal Dutch Shell, Total and BP have each held 9.5 per cent equity stakes in the ADCO concession since the 1970s.

One Foreign Health Worker Dies, Five Infected With MERS In UAE

The six were all first aid service personnel from the Philippines working with the UAE Interior Ministry in Al-Ain.

Nakheel Signs Deal With Accor For Dragon Mart Hotel

The 250-room hotel at Dragon Mart will be managed by Accor under the ibis Styles brand.

Mubadala Hires Six Banks For Eurobond Issue

Mubadala was last in the market in April 2011 through a $1.5 billion five-and 10-year trade.

Oasis Centre May Include Cinemas In The Future – Director

The Landmark group hopes to have at least 10 Oasis Centre malls operational across the GCC by the end of 2015.

Damac Launches New Tower – Vantage, In Jumeirah Village

The project will include 388 serviced living units, with prices starting at Dhs625,100.

Dubai’s Residential Rent Pricing Unsustainable – Expert

Apartment and villa rents in the emirate grew by five and three per cent respectively in Q1 2014, a new report says.

Dubai’s Marka Eyes Fashion, Retail Growth Across Gulf

Dubai-based Marka said it will introduce global franchises and brands to the Gulf, allowing it to build a customer base quickly.

Mohamed Alabbar to acquire stake in YNAP from Richemont

Alabbar-Chaired Firm Launches $1.2bn Project In Langkawi, Malaysia

Perdana Quay, launched by Tradewinds Corporation, is an integrated leisure, retail, residential and commercial development.

Nakheel’s Q1 Profit Up 28% To Dhs629m

The Dubai developer said it handed over 400 units during the first quarter of the year.

UAE Plans Law To Regulate NGOs

The law is expected to be ready by 2015, according to a UAE federal minister.

Emirates To Cut Three Kiev Flights

The reduction follows ongoing political unrest in Ukraine.

UAE’s Julphar Inks Five-Year Deal With Global Pharma Firm Merck

Under the deal, Julphar will manufacture MSD products related to diabetes, asthma, allergy, pain and inflammation.

Abu Dhabi Residential Rents Up 20% In Q1 2014

The UAE capital recently removed its five per cent rent cap, which is already impacting rates, says CBRE report.

UAE Named World’s Largest Foreign Aid Donor In 2013

The UAE’s official development assistance amounted to $5.2 billion in 2013, up 375 per cent from 2012.

IMF Revises UAE Growth Forecast To 4.4% For 2014

Rising real estate prices and the Expo win are expected to boost UAE’s economic growth, says IMF.

Can Dubai Become The Capital Of The Islamic Economy?

Marketing expert Prof Laurent Marliere considers challenges to make Dubai the hub of the emerging Islamic economy.

Dubai’s Limitless Asks Creditors For More Time To Repay $1.2bn Debt

Limitless, a former property arm of Dubai World, restructured the Islamic debt facility in October 2012.

UAE Central Bank To Launch Overnight Lending Facility On Apr 15

The Interim Marginal Lending Facility will allow lenders to use certain assets as collateral to swap for one-day loans.

UAE Transport And Public Sector Most Targeted by Spam, Malware In 2013

Two thirds of UAE companies were targeted with spam in 2013.