August 2018 — Topical news of the United Arab Emirates

August 16, 2018 no comments 838
Dubai's financial services regulator has stopped Abraaj Capital from taking on new business or moving money to Abraaj Investment Management DUBAI - Dubai's financial services regulator has stopped Abraaj Capital from taking on new business or moving money to Abraaj Investment...

August 16, 2018 no comments 862
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...

August 16, 2018 no comments 966
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...

August 15, 2018 no comments 773
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...

August 15, 2018 no comments 841
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...

August 15, 2018 no comments 803
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...

August 15, 2018 no comments 719
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...

August 14, 2018 no comments 811
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...

August 14, 2018 no comments 722
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...

August 14, 2018 no comments 844
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...

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