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UAE

Air Arabia Q3 Net Profit Drops 9%

The carrier made a net profit of Dhs206 million in the third quarter, compared with Dhs226 million in the corresponding period in 2012.

UAE Nuclear Staff Will Be 80% Emirati – ENEC Boss

Vast majority of staff at Abu Dhabi’s Barakah facility set to be nationals.

Etihad In Potential Airbus Jet Order

The carrier is also finalising a deal with Boeing, with one or both deals set to be announced at next week’s Dubai Airshow.

Dubai Islamic Bank Posts 33.5% Profit Increase

The bank made Dhs1.2 billion in the nine months to September 30 up from Dhs899 million in the corresponding period last year.

Fairmont The Palm Penthouses Target Second Homers

Repeat holidaymakers and executives can now buy a slice of Penthouse luxury living.

UAE’s Ajman Bank Rehires Amiri As CEO

Amiri, who quit just seven months ago, replaces Mohammad Zaqout who was fired in October.

UAE’s Electricity Demand To Exceed 40,000MW By 2020

Gulf countries are seeing a steep energy demand owing to a growing population and subsidised resources.

ADNOC, Masdar JV Launch First Carbon Capture Project

The project will allow the UAE to preserve its natural gas for domestic electricity generation.

UAE To Send $10m To Typhoon-Hit Philippines

Typhoon Haiyan has left an estimated 10,000 people dead and four million affected after it hit land on Friday.

Exclusive Interview: Jon Williams, MD, Al-Futtaim Motors

Al-Futtaim Motors has been the regional partner of Toyota vehicles for almost 60 years with the Toyota Camry almost exclusively used by Dubai’s taxi fleets.

Veteran Gulf Banker Plans Investment Bank In Dubai

Emad Mansour was recently the chief executive of Doha-based Qatar First Bank.

TAQA In $240m Deal To Sell Dutch Pipeline Stake

The sale of the stake in Noordgastransport B.V. (NGT) to pension fund PensionDanmark A/S is expected to close in 2013.

Wizz Air Offers Dubai Passengers Priority Boarding

The service costs an additional €10 per flight on services to Kiev, Sofia, Budapest and Bucharest.

Etisalat In $400m Loan Tussle With Stan Chart, Citigroup

Standard Chartered has around $300 million exposure on the loan, while Citi has the rest.

Dubai Receives 7.9 Million Visitors In 9 Months

Saudi Arabia continued to be Dubai’s primary source market, recording a 31.6 per cent rise in visitor numbers.

Cobone Rebrands Its Travel Arm As Triperna

Cobone is looking to tap into the Gulf’s booming online travel industry by offering greater features.

Accor Opens Fifth Novotel In UAE

The 466-room property will target ‘new Dubai’ businesses as well as value-seeking business travelers.

Aldar Properties Nearly Doubles Q3 Profit

The Abu Dhabi builder made a profit of Dhs407.5 million compared with Dhs205.7 million in the corresponding period of 2012.

Emirates Investment Bank Reports 111% Q3 Profit Rise

The bank also reported a year to date net profit rise of 33 per cent on the same nine-month period last year.

Dubai Airshow Preview

Set in the new Al Maktoum International Airport, Dubai’s Airshow is set to be bigger than ever.

Flydubai Secures $228m Loan To Finance Six Jets

The financing is for six Boeing 737-800 aircraft three of which are scheduled to be delivered in the second half of 2014.

Arabtec Wins Dhs1.8bn Tower Contract In Dubai

The new tower, rising 369.1 metres, will be one of Dubai’s top ten tallest buildings.

Dubai’s The Entertainer Launches Mobile App

The Entertainer has been on a major expansion drive following investment by Abraaj Capital.

Dubai H1 GDP Growth Accelerates To 4.9%

Dubai’s real estate market has been rebounding from its crash while the hotel and restaurants sector grew 13.7 per cent in the first half of the year.

Abu Dhabi’s TAQA Swings To Q3 Profit

The energy firm reported a net profit of 146 million dirhams for Q3, compared with a loss of Dhs288 million in the corresponding period of 2012.

Drake & Scull’s Q3 Profit Misses Forecasts

The Dubai company reported a net profit of Dhs23.8 million for Q3, compared with a profit of Dhs3.9 million in the corresponding quarter in 2012.

UAE Begins Trial Of Egyptians, Emiratis Over Brotherhood Ties

Twenty Egyptians and 10 Emiratis are charged with setting up an illegal branch of the Muslim Brotherhood in the UAE.

Canada Backs Dubai’s Expo 2020 Bid

Canada is the latest addition to Dubai’s growing list of supporters for its Expo bid.

Emirates Starts Sialkot Services

Dubai carrier is eyeing a wide range of export opportunities.

Etisalat Buys 53% Stake In Maroc Tel For $5.67bn

Etisalat will pay Vivendi 3.9 billion euros for the stake, plus a further 300 million euros in 2012 dividends from Maroc Telecom