UAE's four largest banks' rise in profitability was largely driven by higher net interest income and lower provisions The UAE’s four largest banks have seen higher profits in Q2 this year, with a combined net profit of AED8.0 billion ($2.2 billion), up 21% year on year, according to...

Gross volumes rose 4.8 percent to 35.6 billion despite uncertainties in the container market, the company has announced Dubai-based ports operator DP World has reported an 18 percent year-on-year rise in profits and growing container volumes in the first half of 2018, the company...

Dubai developer Damac Properties announces a 5% rise in half-year revenue as it focuses on more unit handovers Dubai developer Damac Properties on Tuesday announced a 5 percent rise in half-year revenue after it booked sales of AED2.3 billion ($630 million) as it focuses on more unit...

A second hotel - Taj Exotica Resort & Spa on Palm Jumeirah - is likely to open in October 2019 The Taj hotel in Dubai’s Jumeirah Lake Towers may see a soft opening by the end of 2018, Indian Hotels Company Limited (IHCL) CEO Puneet Chhatwal has revealed. In an interview with...

Annual bank lending growth in the United Arab Emirates slowed slightly in July, central bank figures showed Annual bank lending growth in the United Arab Emirates slowed slightly in July, central bank figures showed on Wednesday. UAE MONEY SUPPLY...

The emirate is set to attract more SMEs from india Dubai aims to increase non-oil trade with India to Dh110 billion from the existing Dh99 billion over the next couple of years, said a senior official. "We have set new targets that I am confident we can achieve with the support of...

Dubai-based Emaar Development says it sold $1.7bn worth of homes during the first six months of 2018 Emaar Development, the property development business majority-owned by Emaar Properties, on Monday reported a net profit of AED1.82 billion ($496 million) for the first six months of...

Sharjah-based low cost carrier says inaugural service to Czech capital Prague will take off on December 11 Low-cost carrier Air Arabia has announced the introduction of its new European destination, Prague in Czech Republic, direct from Sharjah. Air Arabia’s inaugural flight to...

The parents of the two siblings were among 55 passengers who were killed when the plane crashed in Rostov-on-Don in 2016 A Dubai Civil Court has awarded AED 800,000 ($217,799) in compensation to Russian siblings whose parents were killed when flydubai flight FZ981 crashed in the...

RTA's the strategy involves both short-term plans and 'urgent steps' to be taken over the next 12 months, as well as long-term plans that look forward up to the year 2040 Dubai’s Roads and Transport Authority (RTA) has endorsed new testing standards for electric, hybrid and...