UAE's Al Khaleej newspaper cited a senior central bank official as saying that interest rates on credit cards will be getting a cap at 18% very soon in a bid to curb bad loans. The paper also added that...
Etihad, UAE's national flag carrier, is tipped on taking a stake in Air Berlin, Germany's second-biggest carrier. German media is rife with reports that Etihad is eyeing a minority stake in shape of a capital increase. Speculations helped Air...
A look at today’s important financial news and business updates from the Middle East region: UAE to introduce new laws banning exotic pet keeping The government of UAE announced on Tuesday it will be taking practical steps, including new legislation, to...
Reports suggest troubled British banking giant, Lloyds TSB, is contemplating to sell its UAE operations with Abu Dhabi Commercial Bank (ADCB) emerging as the strongest contender. "With all the investment which local banks are putting in, it's increasingly difficult...
A look at today’s important financial news and business updates from the Middle East region:  Middle East Markets Report: VIDEO   UAE banks continue to be the largest asset base in the Middle East UAE Central bank's latest report says that the total...
An Abu Dhabi Islamic Bank report on 'GCC Banking Competitiveness' said the UAE remains the most competitive banking market in the Gulf region. The findings revealed country's 51 banks serve a population of around 8 million with more than...
A look at today’s important financial news and business updates from the Middle East region: Sharjah marks Earth Day by launching Reverse Vending Machines Sharjah is ready to launch 10 Reverse Vending Machines (RVD) which will be placed in different locations...
UAE government Wednesday announced setting up a AED10bn ($2.7bn) debt fund to pay off loans of low-income citizens and increase salaries of some state employed nationals. The state news agency WAM said UAE President Sheikh Khalifa bin Zayed Al...
Middle East Business News Review – A look at today’s important financial news and business updates from the Middle East and North Africa HRW expresses concerns on Nepal women Gulf work ban The government of Nepal has imposed a ban on...
Middle East Business News Review – A look at today’s important financial news and business updates from the Middle East and North Africa UAE firms output growth slow in July Business activity in the United Arab Emirates’ non-oil private sector edged...
According to Reuters, Dubai Investments recorded quarterly losses of AED61.4 million ($16.72 million) when its manufacturing businesses received hit by political uprisings in Libya and Syria last year. The conglomerate recorded a profit to the tune of AED117.4 million...
According to the data released by International Energy Agency (IEA), the UAE's average oil output registered an increase of 2.38% in December to reach 2.58 million barrels per day (bpd) compared to 2.52 million bpd month before. "OPEC (Organisation...
Dubai Airports will become the first airport in the region to use the 'virtual assistant' technology to communicate important travel information to around 50 million passengers that use the airport every year. The state-of-the-art digital signage solution uses a...
A look at today’s important financial news and business updates from the Middle East region: Dubai Health Authority signs MoU with Mubadala Healthcare Dubai Health Authority (DHA) and Mubadala Healthcare signed a Memorandum of Understanding (MoU) to collaborate pertaining to areas...
Dubai registers house prices increase According to the latest Knight Frank Global House Price Index, house prices in Dubai increased by an average of 2.3% during the last quarter of 2011, putting the city in the top ten house market...
Government of Dubai declared it has no plans to restructure billions of dollars of state-linked debt next year, quashing rumours the emirate is facing new financial difficulties. ?The government is following a solid fiscal policy that strengthens the level...
According to a report released by the Dubai Economic Council, Dubai's GDP is set to grow 4.1% in the first quarter this year. The Dubai Economic Outlook 2011 suggested GDP growth is likely to suffer later during the year...
A look at today’s important financial news and business updates from the Middle East region: Dubai Economic Council forecasts 4 to 5% GDP growth for 2012 Dubai’s Economic Council said the emirate’s GDP will grow by 4 to 5% this year,...
A survey conducted by the UAE branch of Great Place to Work Institute has named FedEx Express as the best company to work for in the UAE. Microsoft Gulf won the second position on the top 10 chart while...
Gaddafi's last moments and brutal death at the hands of his captors has taken UAE's newspapers by storm. Gulf News published the photograph of Gaddafi's bloodied body lying in a storage freezer in a Misurata market. The paper's main headline...
UAE nets FDI worth $1.8bn last year The UAE’s volume of foreign direct investment (FDI) soared to $1.8 billion in 2011 while investments in the entire GCC region totalled $8.64 billion, a top Emirati economist said in a statement. Click...
Oman Air has also made a spectacular move to match regional rivals Emirates after the Muscat-based airlines announced an order of six Boeing 787-8s Dreamliners at the Dubai Airshow. Oman Air currently operates direct flights to 41 destinations across...
Violence in the region dominated the front pages of today's UAE papers. Renewed bloodshed in Syria and Al Assad regime's dismissal of Arab League demands were reported by Gulf News and The National. Syrian opposition has already expressed its anger...
The government of Dubai says it has gifted land worth around $550 million to Emiratis last year. According to the official data released by the Dubai Land Department, the emirate donated 368 plots to UAE citizens in 2011 as...
PEPSICO, COCA-COLA MIGHT LAND INTO FURTHER TROUBLE FROM CONSUMER RIGHTS WATCHDOG Soft drinks giants Pepsi and Coca Cola fear they could be forced to change the packaging of their cans to avoid further violation of the Department of Economic Development's...
A look at today’s important financial news and business updates from the Middle East region: Airbus suffers fresh blow as Etihad bows out on Airbus orders Airbus suffered a fresh setback when Etihad cancelled a second batch of orders worth $2.2...
Today's papers have mourned the death of Saudi crown prince with main headlines and photograph of late Sultan bin Abdulaziz Al Saud. The National reported that the UAE President Sheikh Khalifa has sent a condolence message to Riyadh and ordered...
DP World claimed Wednesday it has won the contract to operate Nanaimo port on Vancouver island. Dubai-based ports and shipping group and Nanaimo Port Authority said they have signed a three year agreement to run facilities that include Duke...
A look at today’s important financial news and business updates from the Middle East region: UAE govt announces settlement, restructuring of debts held by Emiratis UAE President Sheikh Khalifa bin Zayed Al Nahyan has ordered the settlement of defaulting personal loans...
GLOBAL OIL PRICE HIKE RALLIES SHARES IN THE UAE The Dubai Financial Market General Index gained 2% to 1547.54 points due to oil trading above $100 per barrel amid US-Iran tensions in the region. Reports said shares of Gulf Navigation,...