Date archive forFebruary, 2016
SIB
By Staff writer On Sunday, February 28th, 2016
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Sharjah Islamic Bank approves cash dividend of 10%

Sharjah Islamic Bank’s ordinary general assembly meeting has approved a cash dividend of 10 percent of the nominal value of the shares, following the bank’s announcement of a net profit of AED409.9 million in More...

airbaus
By Staff writer On Saturday, February 27th, 2016
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Airbus 2015 Net Profits Soar to 2.7 Billion Euros

Airbus Group said on Wednesday its net profits climbed 15 percent last year and predicted deliveries of more than 650 aircraft in 2016 and a rise in orders to record levels. The France-based European aerospace group More...

JP Morgane
By Staff writer On Friday, February 26th, 2016
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JP Morgan Sets more $500 Million for Oil Sector Losses

JP Morgan decided to allocate additional $500 million to cover potential bad loans due to the sharp decline in oil prices. This increase is more, by 60 percent, than what the bank has announced in advance.  175 More...

ibn battuta
By Staff writer On Thursday, February 25th, 2016
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New Hotel By Nakheel for Ibn Battuta Mall

Dubai master developer Nakheel’s hospitality expansion took another leap forward today, with the signing of a Letter of Intent (LOI) for a management agreement with Thailand’s Minor Hotel Group – More...

china-crash
By Staff writer On Wednesday, February 24th, 2016
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China’s impact on GCC construction

Stuart Matthews looks at the impact of Chinese influence on the regional construction industry and the businesses leading the way It’s late January in Riyadh and a delegation from the People’s Republic of China More...

Riyadh, Saudi Arabia
By Staff writer On Tuesday, February 23rd, 2016
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“Record” Number Of Rooms Under Construction In Saudi Arabia

A record 47,431 rooms and 124 hotel projects are currently under development in Saudi Arabia, according to a new report from TOPHOTELPROJECTS. The majority of projects are in the final construction and pre-opening More...

damac-aykon2
By Staff writer On Monday, February 22nd, 2016
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Damac announces first project on Dubai Canal – Aykon City

On 20 February 2016, Damac Properties announced its latest project, Aykon City, to be built on Dubai Canal. The project is the first project announced in the Dubai Canal district located to Sheikh Zayed Road and More...

HH-SHEIKH-HAMDAN-BIN-RASHID-AL-MAKTOUM-OPENS-GULFOOD
By Staff writer On Monday, February 22nd, 2016
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Sheikh Hamdan Bin Rashid Opens Gulfood 2016

The 21st edition of the world’s largest annual food and hospitality trade show, Gulfood was officially opened by His Highness Sheikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance More...

Maseratti
By Staff writer On Sunday, February 21st, 2016
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First Maserati SUV to debut at Geneva International Motor Show

Maserati gives the first glimpse of the external look of the Levante, the first SUV in the Brand’s more than one hundred years of history: the new model completes the existing range of sedans and sports cars, More...

cis-gbf
By Staff writer On Saturday, February 20th, 2016
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Investment opportunities open up in Georgia and Azerbaijan

World experts discussed investment opportunities across the Middle East, Central Asia and Central Europe, at this year’s Commonwealth of Independent States – Global Business Forum (CIS – GBF) held from 17 More...

Dawood-Bin-Ozair-Senior-Managing-Director-Engineering-Technologies3
By Staff writer On Saturday, February 20th, 2016
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Al-Futtaim Engineering launches a fire and safety division

Al-Futtaim Engineering and Technologies introduced its new Control and Life Safety division on 17 February 2016. The division will carry out the design, installation and maintenance of fire protection and detection More...

aldar1
By Staff writer On Wednesday, February 17th, 2016
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Aldar Properties net profit up 13% to AED 2.56b in 2015

Aldar Properties, the Abu Dhabi’s real estate developer, on Monday announced net profit of AED 2.56 billion for 2015, a 13 per cent increase over the AED 2.27 billion reported in 2014. The results put net More...

Ahmed bin Saeed Al Maktoum rings NASDAQ Dubai bell to celebrate listing of US$500 million Emirates NBD bond
By Staff writer On Tuesday, February 16th, 2016
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Emirates NBD profit up 39% in 2015

Emirates NBD (DFM: EmiratesNBD) held its ninth Annual General Meeting (AGM) at the Bank’s Headquarters. At the AGM, Emirates NBD Chairman, H.H. Sheikh Ahmed Bin Saeed Al Maktoum, presented a review of the year More...

Cityscape Abu Dhabi 1
By Staff writer On Saturday, February 13th, 2016
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Real Estate Sector Slow Down is “Correction Not Crash”

The current slowdown in the UAE real estate market should be seen as a minor correction as opposed to a major crash, according to a Middle East property expert. David Dudley, International Director at JLL MENA, More...

Marbella
By Staff writer On Friday, February 12th, 2016
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Cayan Group Expands Beyond Middle East

Cayan Group, one of the Middle East’s leading real estate developers, is making its foray into Europe, commencing with an alliance with Spanish real estate developer, Sarena. The elite partnership will witness More...

R1
By Staff writer On Thursday, February 11th, 2016
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Rolls Royce launches Ghost ‘Eternal Love’ edition

Rolls-Royce Motor Cars debuts Ghost ‘Eternal Love’ this evening at the Minsheng Art Museum in Beijing. Embodying the theme of love, the new Bespoke collection is exclusively designed for the China market, coupling More...

The-Westin-Doha-spa-500x500
By Staff writer On Thursday, February 11th, 2016
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The Westin Doha Hotel And Spa Debuts In The Region

Starwood Hotels and Resorts has officially opened The Westin Doha Hotel and Spa – the brand’s debut hotel into the region and expands Westin’s portfolio to four properties across the Middle East. The newly More...

Ooredoo Pushes to Support More "Smart Cities" in 2015
By Staff writer On Thursday, February 11th, 2016
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Ooredoo Myanmar in $300 Million Funding Deal with Asian Bank and IFC

Ooredoo Qatar-based Ooredoo Group’s fully owned subsidiary Ooredoo Myanmar has announced a US $300 Million funding deal with the Asian Development Bank (ADB) and the International Finance Corporation (IFC), the More...

Drone
By Staff writer On Thursday, February 11th, 2016
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Mohammed bin Rashid honours winners of UAE Drones

Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has honoured the winners of the second edition of the UAE Drones For Good Awards and the UAE AI and Robotics More...

saif zone
By Staff writer On Wednesday, February 10th, 2016
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Korean company Kiswire to open office in Saif Zone

Sharjah Airport International Free Zone, SAIF Zone, has announced that Korea-based global company Kiswire and the UAE-based Amzone International Ltd. will jointly open a 220,000 square-feet marketing and sales complex More...

majid al futtaim
By Staff writer On Wednesday, February 10th, 2016
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Majid Al Futtaim to invest SAR14bn in Riyadh mall concepts

Majid Al Futtaim, the leading shopping mall, retail and leisure pioneer across the Middle East and North Africa, has today announced plans to develop two new landmark shopping malls in Riyadh, which will see a series More...

Rak ceramics
By Staff writer On Tuesday, February 9th, 2016
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RAK Ceramics fully acquires European entities

RAK Ceramics announced the full acquisition of its British and German entities. The regional ceramic manufacturer also appointed a new leadership team to head its core European operations. The move is expected to More...

railway
By Staff writer On Monday, February 8th, 2016
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Rail projects underway worth $352bn in the Middle East

errapinn Middle East, organiser of Middle East Rail, revealed that 16 major railway projects worth $352bn are currently under construction in the MENA region. Jamie Hosie, project director at the show, said: “With More...

Toshiba
By Staff writer On Sunday, February 7th, 2016
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Toshiba Expects “Biggest Ever” Yearly Net Loss of $6bn

Toshiba Corp. said it would record the biggest annual loss in its 140-year-old history as the firm wrote down the book value of several units, including energy and infrastructure, while restructuring costs ballooned, More...

khaliji
By Staff writer On Sunday, February 7th, 2016
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KHCB reports 109.8% increase in net profits over 2014

Khaleeji Commercial Bank (KHCB), a prominent Islamic retail bank, announced its financial results for the year ended 31 December 2015 recording net profit of BD 8 million compared to BD 3.8 million reported in 2014. The More...

44+Dubai+Financial+Market+for+National+General+Insurance
By Staff writer On Friday, February 5th, 2016
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DFM Company posts net profit of AED 261 million in 2015

Dubai Financial Market (PJSC) today announced its results for the financial year ending 31st December 2015 as the Company posted a net profit of AED 261 million for the year 2015, compared to AED 759.3 million in More...

ThePalmJumeirahCopyrightNakheelS
By Staff writer On Wednesday, February 3rd, 2016
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Nakheel declares net profit of AED4.38 billion for 2015

Nakheel today announced its results for the financial year ending 31st December 2015, a net profit of AED4.38 billion, representing a 19 percent increase on last year’s net profit of AED3.68 billion. The 2015 More...

Dubai International Airport
By Staff writer On Tuesday, February 2nd, 2016
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DXB Reports 78 Million International Passengers For 2015

Dubai International Airport (DXB)  has reported annual traffic of just over 78 million for 2015 – maintaining the airport’s position as the world’s number one hub for international passengers. Dubai International More...

Emaar
By Staff writer On Monday, February 1st, 2016
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Shurooq Establishes Omran Properties with Emaar and Eagle Hills

New company seeks to develop investment, commercial, industrial and real estate projects in Sharjah and beyond. The Sharjah Investment and Development Authority (Shurooq) has signed a partnership agreement with More...

Hampton-by-Hilton-Dubai-Al-Barsha-1-407x520
By Staff writer On Monday, February 1st, 2016
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Hilton Worldwide To Debut Third Hampton By Hilton In Dubai

Hilton Worldwide have signed a management agreement with His Excellency Abdullah Al Neyadi to open the third Hampton by Hilton in Dubai. The Dubai Al Barsha property is expected to open in 2018 and will More...

Meydan-Sobha-Press-Conference
By Staff writer On Monday, February 1st, 2016
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Meydan Sobha launches Phase-3 of District One

Joint venture between Meydan Group and Sobha Group, Meydan Sobha, officially launched phase-three of Mohammed Bin Rashid Al Maktoum City – District One on at a press conference on 1 February 2016. Chair of Meydan More...

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