As estimated by a UAE based food and beverage expert, the average monthly household spent in the UAE on dining out is Dh 1,200. This is a high amount compared to that to the rest of the world. According to...
The introduction of the new facebook profile has opened up a range of whole new possibilities to tech-savvy facebook members and social-networking fanatics. This new profile actually allows you to play around with your profile picture, cleverly stretching it...
According to latest research findings, health experts claim that sitting down for prolonged periods (eight hours a day is the norm in most offices/schools) can prove disastrous for your health and longevity. Scientists warn that people who sit around...
Oman Aluminum Rolling Company has awarded a $ 385 million (Dh 1,413 million) contract to Fata EPC, an Italian company, to build the new production plant (with a 160,000 tonne capacity). The Turin based engineering, procurement and construction company is...
Drake & Skull, the Dubai-based engineering and contracting company recorded a profit of Dh51 million (US$13.8m). According to the company, there was a 21 percent increase in profits compared with the previous quarter. This achievement is attributed to the...
According to a new research study from Standard Chartered Bank, the price of gold will rise above $2,100 an ounce, by the year 2014. A strong demand will be registered for this yellow metal, over the next three years....
Etisalat rules out another round of bid for Kuwaiti Zain as a Kuwaiti law almost doubles the valuation of shares. The company executives site Kuwaiti capital markets laws as the main cause for scrapping of the deal. As per Kuwaiti...
Emirates airlines recorded a profit, 52 percent high, and has surpassed Lufthansa to become the leader among international airlines. The airline posts its 23rd consecutive year of profit with a performance of US$1.5bn (Dh5.5bn) till March 31. The carrier...
Microsoft has placed its biggest bet- $8.5 billion for the internet voice and video communications company, Skype- on a deal the software giant hopes will help it compete in a world shifting away from desktop computer. Buying Skype gives Microsoft...
The telecom industry is moving through hard times with revenue projected as low as 2% compared with other industry sectors. High infrastructure costs, tight regulations, and decline in revenue have failed to woo the investors. According to Simon Holden...

International law firm Vinson & Elkins LLP has expanded into the Middle East and opened an office in Riyadh, in association with the Law Office of Looaye M. Al-Akkas. Vinson & Elkins LLP is an international law firm with...
Two UAE based carriers, Etihad and Emirates have announced cuts in air fare, in a bid to ensure summer traffic is not affected. The fall in oil prices is cited as the reason for this initiative. Emirates, the Dubai-based...

Having finalized an agreement that sets in motion, the repayment of Dh 614 million from original promoters the Abdullah brothers, jewellery firm Damas is trying to recover the money owed in the wider marketplace. The company is considering taking legal...

The Abu Dhabi Fund for Development (ADFD; through the Abu Dhabi Government) has provided loans and grants to aid 16 development projects in Egypt, costing Dh 3.149 billion. Since its founding year in 1974, ADFD has helped Egypt through implementation...
As a significant step towards the strategy to increase branch network in Abu Dhabi, Emirates NBD announced that it has further extended retail banking facilities to its customers in the UAE capital. With a total of 15 branches in...
Car rental companies run short of cars in the wake of catastrophes in Japan. Post tsunami and earthquake there is a sharp decline in the production of cars by Toyota. Leasing companies recommend switching to other models such as...
Dubai International Financial Centre (DIFC) Investments, the major stake holder in Dubai Pearl, has pulled itself out of the project. Dubai Pearl, the US$3.8 billion (Dh13.95bn) project, overlooking Palm Jumeirah has witnessed a slowdown in construction activity following the...
An excess supply of rice from Thailand will help boost global stockpiles and cap prices, the Food and Agriculture Organisation (FAO) said, which will lower record food costs that pushed millions into poverty. Food prices, worldwide had reached a record...