Dubai ruler issues directives to raise prize money for World Cup meeting to $35m with $12m going to winner of main race Racing enthusiast Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai, on Wednesday issued directives to increase the prize money for the Dubai World Cup horse...

Restructuring process undertaken by Etihad has so far entailed the trimming of both its route network and its fleet Abu Dhabi: Etihad Airways said it was in the process of selling a fleet of five A330-200(F) jets. “The widebody freighters were withdrawn from service effective 1...

Starting 12th August, Abu Dhabi roads' speed limits will be modified along with speed radars to a set standard. ABU DHABI- Abu Dhabi Police GHQ announced on Wednesday that it had begun procedures to eliminate speed leeways on roads in the Emirate of Abu Dhabi. Starting 12th August, Abu...

While Saudi retains the largest share of wealth in the Middle East, Boston Consulting Group forecasts a slightly more even split by 2022. Almost one fifth of the UAE’s wealth is held by just 12 people, according to a new report by Boston Consulting Group. The group’s Global Wealth...

The three substations are scheduled to be delivered in 2019 Canadian contractor SNC-Lavalin announced on Wednesday that it has been awarded a $70 million contract to provide engineering and procurement services for three substations at the Meydan One real estate development in Dubai....

Residential prices likely to continue falling for 12 months, retail remains under pressure, says JLL Landlords and real estate investors expecting the recently-announced stimulus package by Abu Dhabi's crown prince to spark a revival in the city's residential market will have to be...

FAB made a net profit of AED3.06 billion ($845mln) in the three months ending June 30 ABU DHABI- First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates, on Tuesday reported a 19 percent rise in second-quarter 2018 profit, boosted by higher foreign exchange and...

Combination of high hotel and apartment costs and strong tourism propels Airbnb rates in some Gulf cities, including Dubai, Riyadh and Kuwait City Dubai has been named the fifth most expensive city in the world for Airbnb listings in a new global index. A combination of high hotel...

Developer says the Atria is the second project completed by Deyaar in 2018, following the handover of the Mont Rose in April Deyaar Development on Tuesday announced the completion of The Atria residential tower, with the handover process now imminent. The Atria is the second...

Abu Dhabi-based telco says subscriber bases reaches 144 million while revenues grow by 4% Abu-Dhabi-based Etisalat Group on Tuesday posted net profit for the first half of 2018 of AED4.3 billion ($1.17 billion), up 6 percent year-on-year. The telecoms operator said its subscriber...