A total of 19 listed banks reported H1 net profit of around AED19 billion, a 3.8 percent growth from around AED18.3 billion during the corresponding period last year. Matching previous expectations, the gains reflect the banking sector's resilience and ability to cope with the fast-paced,...

Abu Dhabi Global Market, ADGM, and UAE Exchange have entered into partnership, to support, develop and promote the FinTech ecosystem in Abu Dhabi and the UAE. An MoU was signed by Promoth Manghat, Chief Executive Officer of UAE Exchange Group, and Richard Teng, Chief Executive Officer of...

Farhad Azizi, CEO of Azizi Developments, says the emirate’s property market has matured Dubai’s property market should be more heavily regulated, a real estate developer has claimed. The market already has strong oversight, said Farhad Azizi, CEO of Azizi Developments, but more...

Xiaomi has opened its first authorized Mi store in the region in partnership with local distributor TASK FZCO at the Burjuman Shopping Centre in Dubai, UAE. The new store will showcase Xiaomi’s powerful Mi 6 and entertainment-focused Mi Max 2 smartphones. Mi 6 is powered by Qualcomm’s...

New hotel openings have impacted demand in the emirate Dubai’s hospitality market saw steep declines in hotel rates last month as new supply and the shifting of Ramadan impacted demand. In preliminary data for July, research firm STR said the emirate saw a 3.6 per cent dip in...

A total of 19 listed banks in the UAE reported net profit of around Dh19 billion ($5.17 billion) during the first half of the year, a 3.8 per cent growth from around Dh18.3 billion posted during the corresponding period last year. Matching previous expectations, the gains reflect the...

“They hope to go back to a time when they could extract pricing premiums from US consumers while providing a poor product in return,” Clark said Emirates president Sir Tim Clark has argued US airlines are seeking to “preserve their domination of the US long-haul” market in an opinion piece...

Small- and medium-sized enterprises (SMEs) secured more than half of contract awards related to Expo 2020 Dubai during H1 2017. With 47 construction contracts, worth a total of $3bn (AED11bn), expected to be awarded during the course of this year, more than 15,000 businesses have...

The amount of personal loans issued by banks in the United Arab Emirates increased by 15.7 billion UAE dirhams ($4.27 billion) in June – up by 4.7 per cent – but loans granted to businesses dropped by 16.6 percent in the same period, Emarat Alyoum newspaper reported on Thursday. Quoting...

It was Arabtec’s second straight profitable quarter Dubai builder Arabtec said on Wednesday that it had swung to a net profit in the second quarter, boosted by profits from its investment in interior designer Depa as well as by cost-cutting. Arabtec made a net profit attributable to...