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Dubai Property Prices Record 30% Growth In 2012

The most significant price rise was seen in villas located in premier locations, finds new report.

Tamweel Repays $300m Five-Year Sukuk

Tamweel has been the focus of a full takeover offer by its majority shareholder Dubai Islamic Bank.

BlackBerry 10 Launches Today: Will RIM Survive?

The new range of BlackBerry smartphones are expected to determine the future of Canada-based Research In Motion (RIM).

Abu Dhabi Commercial Bank Q4 Profit Jumps 32%, Beats Estimates

ADCB’s fourth quarter profit rose on higher net-interest income and lower provisions.

UAE’s First Gulf Bank Q4 Profit Up 12%, Beats Forecast

The lender’s profits were boosted by higher interest income and Islamic financing.

High-Profile Islamic Finance Firm Dar Al Istithmar Closes

Most of its staff moved to Khalij Islamic, another investment firm with offices in London and Dubai, says sources.

Mubadala In $2bn Refinancing Launch

Banks taking part will also be chosen for future work.

Foreign “Smart Money” Lifts Dubai Stock Exchange To 34-Month High

The Dubai index is buoyed by foreign investors buying into the emirate’s economic recovery.

Abu Dhabi’s NBAD Sees 16.8% Rise In 2012 Profit

National Bank of Abu Dhabi attributed the profit increase to higher investment and interest income.

DP World Sees 2012 Profit In-Line With Forecasts

The port operator posted a 2.4 per cent rise in gross volume from 54.7 million in the previous year.

Abu Dhabi’s TAQA Seals $1.4bn Financing For Morocco Plant

The financing for the Jorf Lasfar plant is the largest in over a decade for an international project in Morocco.

Abu Dhabi Sees Hotel Revenues Rise 6% In 2012

The emirate welcomed over 2.3 million hotel guests last year, up 13 per cent from 2011.

Emirates Targets Japan Exports Growth

New services to Haneda Airport will provide Japanese exporters and passengers more flexibility when connecting to the airline’s global network.

Abu Dhabi Commercial Bank Picks Banks For Bond Issue

The UAE-based lender plans to launch a conventional bond in the coming few days, say sources.

UAE’s ADNOC Supplying Fuel To Emarat Stations

The handover will save Emarat around Dhs80 million every month.

Dubai Ranks Third Largest Passenger Airport

Airport beats forecasts by one million and has London’s Heathrow “firmly within its sights”.

UAE, Turkey Trade Up 197% In H1 2012

Trade exchanges between the two countries reached $5.3 billion during the first half of the year.

Abu Dhabi Property Merger Seen Completed June 30

Property firms Aldar and Sorouh agreed on an all-share merger last week creating a company with $13 billion in assets.

UAE To Highlight Expo 2020 Bid At WEF In Davos

The Higher Committee will use the World Economic Forum to promote Dubai’s bid.

Dubai May Ease Restriction For Foreign Investors

International investors may be allowed to start businesses in the UAE in partnership with nationals from the wider GCC region.

UAE’s ENOC Replaces Sanctioned Iran Oil With Qatari Supplies

Emirates National Oil Co (ENOC) was the biggest buyer of Iranian condensate in 2012.

New UAE Mortgage Law Expected In Second Half Of 2013

The UAE central bank is still holding negotiations with the Emirates Banks Association and no rule has been issued as yet.

Dubai Developer Nakheel Year Profit Up 57%

Nakheel made a Dhs2.02 billion ($550 million) profit last year, on revenue up 91 per cent to 7.8 billion.

Dubai Prices Two-Part $1.25bn Bond Offering

The two-tranche bond includes a $500 million 30-year conventional bond and a $750 million 10-year Islamic bond.

BlackBerry 10 Buzz Builds As Launch Date Nears

The much-awaited new smartphone line-up from RIM will be launched in Dubai and five other cities on January 30.

Dubai Serviced Flats Seeing Good Growth – HSBC

The sector is receiving interest from investors because of double-digit growth.

Dubai Successfully Taps Debt Market With $1.25bn Sale

The emirate issued a $750 million 10-year sukuk, as well as a $500 million 30-year conventional bond.

Dubai’s DIFC Sees 16% Rise In Employees

Around 14,000 people are now employed in the Dubai International Financial Centre.

Dubai Retailer MAF Posts 10% Rise In 2012 Revenue

The company, which is expanding rapidly, aims bid for Egypt supermarket chain Metro in the first quarter of 2013.

UAE Mortgage Firm Tamweel Sees 11.3% Drop In Q4 Net Profit

The firm is currently in the process of a complete takeover by Dubai Islamic Bank.