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UAE’s First Gulf Bank Eyes Bond Issue

FGB has hired five banks for a new benchmark bond, according to sources.

Abu Dhabi’s Economy To Grow 3.9% This Year

The figure is down on previous forecasts blamed on a drop in oil production but 5.7 per cent growth is predicted for 2013-2016.

Dubai’s JAFZA Posts 20% Drop In H1 Profit

State-owned Jebel Ali Free Zone (JAFZA) attributed the fall in H1 profit to rising costs.

Dubai’s DEWA Eyes Sukuk Issue In 2013

Proceeds from the issue will be used for repayment, said DEWA CEO, Saeed Mohammed al-Tayer.

Emirates Announces Additional Seychelles Flights

Dubai’s flagship airline will begin two additional flights to the archipelago, taking its weekly number up to 13.

UAE Committed To Supply Customers With Oil Needs

The country’s OPEC Governor Ali al-Yabhouni said that the UAE will work towards maintaining oil market stability.

Private Banking Special: Falcon Private Bank

Switzerland has lost its appeal to Gulf investors, says Eduardo Leemann, CEO of Falcon Private Bank

Private Banking Special: Emirates NBD

Mark McFarland, chief investment strategist, Private Banking at Emirates NBD, says its time for wealth preservation.

The Address The BLVD Sells Out Apartments On First Day

Property agents paid labourers to stand in line 48 hours before doors opened in bid to secure new prime location.

Credit Suisse Cuts Dubai Investment Banking Jobs

The investment bank is reducing staff in Dubai and relocating some jobs to Qatar, say sources.

UAE Salaries Up For 2012 – Higher Next Year

Wages in the country have risen this year as Western and Asian expats demand higher packages.

Swiss Lift Ban On UAE Arms Exports

United Arab Emirates are once again able to buy weapons from the European country after a previous ban following re-exported grenades is lifted.

UAE Non-Oil Trade Up 5%

The country’s non-oil trade reached Dhs76.6 billion in February this year, according to official statistics.

Etisalat Plans Network Growth After Indonesia Sale

The UAE network is eyeing up new ventures into core markets, funded by a $510 million sale of its Indonesian stakes.

UAE To Build Weapons Systems In JV With Denel

State-owned Tawazun Holding will build guidance weapons in Abu Dhabi in a joint venture with South African defence company.

UAE Agrees Nuclear Energy Deal With Canada

Canadian firms have been green lit to provide nuclear energy and materials to the Gulf country as it builds four new reactors.

MAF Eyes $800m Mall of Egypt Launch By 2015

The UAE-based shopping mall operator hopes to start construction on the project by the end of 2012.

UAE Denies Tourist Visa Ban For Non-Graduates

Reports had earlier claimed that unskilled visitors from Asian nations would not be granted UAE tourist visas.

Flydubai Cargo Launches Global Operations

The low-cost airline will now transport goods to Europe, the US and across Asia.

Emirates Launches A380 On Dubai-Singapore Route

The Dubai carrier will use Airbus’ superjumbo on a permanent service, giving a 46 per cent rise in seat capacity.

Etihad Rail Appoints New CEO For Future Projects

The Abu-Dhabi developer behind the country’s railway network appoints Nasser al-Mansoori as its new chief executive.

Dubai’s Arabtec Blames Q2 Loss On Project Delays

The Dubai-basd builder made a loss of Dhs11.6 million in the second quarter of the year.

RAK Takes Flight

The Northern emirate is boosting its planes to attract wealthy Westerners.

Dana Gas Shareholder Optimistic On $920m Sukuk

Crescent Petroleum says it is confident that Sharjah-based Dana will find a resolution for its Islamic bond maturing in October.

Dubai Property Scam Artist Is Wanted By Interpol

Haitham Al Kouatly is accused of conning homeowners and tenants out of Dhs6 million in various property locations across Dubai.

Abu Dhabi Rents To Drop By 10%

Increasing supply in the emirate’s property market will continue to force rents and sale prices to fall, says new report.

Dubai’s DFSA Fines E&Y, Arqaam Over Iranian Art Valuation

E&Y and Arqaam were accused of failing to comply with international accounting standards.

Dubai To Issue Bond To Refinance Maturing Debt

The emirate has Dhs6.5 billion ($1.8 billion) of debt maturing in April 2013.

MAF Group Reports 15% Rise In H1 Revenue

The UAE-based shopping mall developer made a gross revenue of Dhs10.7 billion for the first half of the year.

Emirates Says No Interest In Indian Carriers

The Dubai-based airline has denied it has any plans to buy stakes in any Indian carriers, after rules were lifted last week.