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UNB’s Q3 Net Profit Falls 15%, Misses Forecasts

Net profit for the first nine months of this year fell to Dhs1.44 billion from Dhs1.47 billion in the prior-year period.

UAE Plans Islamic Finance Authority Backed By Legislation

A centralised approach to supervising Islamic finance is increasingly being adopted around the globe.

Du Reports Q3 Profit Rise Of 45%

Du made a net profit of Dhs474.3 million in the three months to September 30, up from Dhs326.9 million in the year-earlier period.

UAE Central Bank Watching House Prices, Sees No Bubble

Dubai’s house prices have risen over 20 per cent in the last 12 months.

Dubai Expo 2020: The Rivals

In the run up to the announcement for the World Expo 2020 host city, Mary Sophia sizes up Dubai’s competition.

Dubai Airshow Gears Up For Take Off

Delegates can expect plenty of space, inside and out, when they visit the dedicated Dubai World Central site in November.

Dubai Holding Says Unit To Repay 750m Euro Bond

Dubai Holding was hit hard by Dubai’s property market crash and corporate debt troubles of 2008-2010.

Julphar Thriving On Gulf’s Demand For Medicines

Julphar has invested heavily to feed the growing needs of the GCC’s healthcare market and ensure sustainable supply of medicines to the region.

FedEx Opens New Facility In Abu Dhabi’s Airport

The new facility will be equipped with the latest technology capable of sorting 3,000 packages per hour.

Gulf Rail Project Construction Plan On Track

If the railway is completed, it could have a major impact on the Gulf economy by stimulating trade and limiting consumption of fuel for road travel.

National Bank Of Abu Dhabi Posts 8% Profit Fall

Third-quarter net profit at the lender fell eight per cent to Dhs1.04 billion from Dhs1.12 billion in the year-ago period.

GEMS Education Plans $500m Hybrid Sukuk Sale

GEMS plans to begin roadshows in the United Arab Emirates this Thursday with investor meetings scheduled in Asia and Europe next week.

UAE Hotels Record Strong Growth In August

Dubai’s overall average occupancy increased by approximately 7.8 per cent in August compared to the same period last year.

UAE Central Bank Confirms Mortgage Caps

First time expat buyers will have mortgages limited to 75 per cent of a property’s value with UAE nationals limited to 80 per cent.

Dubai International Passenger Traffic Up 13.1% In September

Traffic for the first nine months of the year stands at 49.4 million, up from 42.6 million for the first three quarters in 2012.

United Ups Digital As Gulf Competition Rises

US carrier to focus more on attracting international business and improving digital connectivity.

UAE Banks Are Taking Too Many Risks – IIF

The international body cautioned the UAE to be proactive in framing policies that would insulate the economy from major problems.

Samsung Unveils Dhs2,499 Gold Galaxy S4 In UAE

The Korean company is launching two gold editions of the feature-packed Galaxy S4.

Al Ain Football Club Signs Nike Partnership Deal

The American sports wear giant will become the official kit supplier to the UAE side.

Dubai’s Emirates NBD Eyes Turkey Buy Amid Foreign Expansion

The lender aims for 20 per cent of its revenues to come from overseas markets in five years

Etisalat’s Q3 Net Profit Drops 18%, Misses Forecasts

The firm’s capital spending and operating expenses each rose by about a third.

UAE’s First Gulf Bank Posts 13% Q3 Net Profit Gain

The lender, majority-owned by Abu Dhabi’s ruling family, made a net profit of Dhs1.19 billion for the three months ended Sept. 30

Dubai Holding Arm Plans To Sell Stake In Rivoli Group

Dubai International Capital is in negotiations to sell its 18 per cent stake in Rivoli Group to Saudi-based Al Rajhi Capital, say sources

UAE Declares Nov 2 As Islamic New Year Holiday

Private sector employees will now resume work from Sunday, November 3.

Qatar Airways To Begin Flights To DWC, Sharjah

Starting from 1 March 2014, the carrier will fly twice daily flights into both destinations.

Air Arabia To Expand Into China

CEO Adel Ali predicts a minimum five new routes a year as the low-cost carrier flies into its second decade

UAE Banks Federation Announces Inaugural Conference

The Middle East Banking Forum will be held on 26 November, and attract top tier representatives from regional and international lenders.

UAE To Help Egypt Build Wheat Silos To Hold 1.5m Tonnes

The silos will form part of the UAE’s recently announced $4.9 billion aid package to Egypt

Emaar Launches $3bn Project In Iraqi Kurdistan

The “Erbil Downtown” project is due to be completed in three stages over a period of around five years

UAE Approves Higher Federal Spending For 2014

UAE Prime Minister Sheikh Mohammed said that half of the federal budget of Dhs46 billion will go for development and social benefits