Kerzner International Holdings, the multi-billion dollar investment entity that owns the extravagant Atlantis chain of hotel resorts, may sell off its 50% stake in the Dubai branch that is located at the heart of the exquisite man-made Palm Jumeirah...
Abraaj Capital, the Middle East's largest private equity firm, has acquired Amundi, a North African private equity concern. The Dubai-based firm is jointly owned by Societe Generale and Credit Agricole and has assets worth $6.2bn. It seeks to expand its...

Eid in Dubai

Dubai, a real cosmopolitan city with its own unique culture, celebrated Eid with gaiety and fervor. This year key business entities came out in support of 'Eid in Dubai', which unveils a host of festivities to mark the festive...
Dubai Silicon Oasis announced this week positive financial results for the first half of 2011, with operating profit increasing six per cent from the same period last year. DSO earned an operating profit of Dh121.9 million, as well as Dh323.3...
Emitach Mobile Solutions (EMS), a Dubai-based smartphone firm, has signed a new agreement with mobile phone content provider Polar Mobile to launch a raft of new mobile apps for more than 100 media companies across theMiddle East. A strategic partner...
DP World announced its H1 results for year 2011 with a profit of $281 million, 36% ahead of previous year. The monetisation of 75% of DP World?s Australia terminals enabled DP World to earn a profit of $741 million for...
Ernst & Young (E&Y) has announced it will be expanding its service lines and industry sectors by taking in 20 new partners across the Middle East and North Africa (MENA) region. This step will bring the organization's total number of...
Hundreds responded to ?Adopt a Camp? charity drive organized at the Dubai World Trade Centre, where eight camps where adopted for supplying and delivering packages of food and other essentials to labourers during Ramadan. The initiative was organized jointly...
The Municipality of Abu Dhabi City has made it mandatory for all consultancy offices and contracting companies engaged in excavations and dewatering of underground water at all constructions sites to comply with the technical standards, specifications and controls applicable...
The $272 million joint venture launched recently for manufacturing the next generation seats and interiors for aircraft received an overwhelming response from the UAE and other GCC investors. Sara Ismail Mohamed, Chief Executive Officer of Abu Dhabi-based Al Bashayer Investment...
Dubai Metro?s much anticipated Green Line will be inaugurated by His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and ruler of Dubai, on September 9, Roads and Transport Authority (RTA) said in...
Dubai's direct trade with the world rose by 27% in the last five months whereas direct trade exchange with the world was recorded at Dh 228 billion over the same period of time last year. This year it has...
As property prices began to crash with the financial crisis, some of the largest pension funds in the US are beginning to take a step back from investing in fancy properties. Pension funds are some of the biggest investors in...
Major Indian software company Mahindra Satyam is set to offer its engineering services to customers in the Middle East for the first time. "Middle East and North Africa are clearly the emerging markets that are crucial for our growth," quoted...
Amid rising concerns over Standard and Poor's downgrade of the US' credit rating from AAA to AA+ and its impact on Gulf currencies, which have hitherto been pegged against the US dollar, the UAE and Bahrain have dismissed speculations...
FNC poll registration ends as women, young persons dash to get registered as candidates Today's front pages of leading Emirati newspapers are dominated by the electoral activity as registration process came to an end on Wednesday. Gulf News published the photograph...
A child dies of hunger every six minutes in Somalia as the Horn of Africa battles its worst famine in history. The UAE has been among the most prominent respondents to the crisis, going a long way to gather and...
Emirates airlines is expected to make a loss of $1 billion (Dh3.67 billion) in the first eight to ten years of the new European Union Carbon Emission Scheme. The new scheme requires airlines to pay fees for all inbound and...
Dubai Cares has been announced as the winner of the International Stevie Award for Company of the Year in the Non-Profit or Government Organization category in The 2011 International Business Awards. By winning, Dubai Cares will also be included in...
In focus: The UAE, for being the second most popular country after Saudi Arabia for individuals who seek to move to the Gulf. The Story The Abu Dhabi Gallup Centre released a report on Potential Migration and the GCC today. The...
Location: Dubai The Story 5 employees of Al Ahli Driving Institute were caught for taking bribes from students and have been sentenced to 6 months in prison. The amount of the bribes taken by each man totaled to Dh 34, 000. The...
The Blue Devils are planning to conduct exhibition tours and basket ball clinics in China and Dubai. The 10 NCAA-approved pre-trip practices will run for a three-week period, while there will four exhibition matches. The initiative is a part of...
Place: Dubai Story: Dubai's loan repayment indicates strong economy Investment Corporation of Dubai, a holding company for many of the debt-laden emirate?s prize assets, said Monday it would repay in full $4bn of loans that mature this month rather than opt...
The UAE central bank released a statement in July about how its interests may be determined by the US debt crisis. The country pegs its currency, the dirham, to the dollar, which means it controls its value in relation to...
Place: Dubai Story:? Dubai hotels see increasing occupants Dubai hotels have witnessed an increase in visitor numbers, following regional unrest earlier in the year. Recent data from accountancy firm Ernst and Young revealed that Dubai hotels recorded the highest RevPAR in the...
The rise in expenses, has brought Arabtec a 74% fall in profits for the second quarter, contrary to estimates of analysts. Arabtec Holding PJSC, is the UAEs largest construction company in terms of market value and six analysts had estimated...
  A new scheme has been introduced by Etihad Airways, providing travel benefits to employees of the Abu Dhabi government. The program was developed both by Etihad and Musanada (Abu Dhabi General Service Company). The partners will work hand in hand...
The ?Best AP CEMEA Card Design? awarded by Visa was given to the Royal Banking Covered Card of Dubai Bank. Design Award Periodically all Visa employees across AP and CEMEA markets vote for The Best AP CEMEA Visa Card Design. The...
The UAE automotive trade experienced a growth spurt of a $ 1.9 billion from 2009 to 2010 (a 19.7 % rise). Additionally, for both the years, the imports of all car types increased by 31.3%. The figures were drawn by...
In line with the heightened spirit of charity and learning characteristic of the Holy Month of Ramadan, Dubai Cares has launched a campaign to increase awareness of the plight of the girl-child in obtaining primary education, an issue that...