Dubai Islamic Bank (DIB), the first Islamic bank in the world and the largest Islamic bank in the UAE by total assets, posted a net profit of Dh4.05 billion ($1.10 billion) for the year ended December 31, 2016, up 6 per cent compared with Dh3.839 billion …
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Higher provisions weigh on Mashreq in fourth quarter
Mr. Al Ghurair, who is also the head of the UAE Banks Federation, said in November that banking sector profits may fall between 10 and 20 per cent in 2016 versus 2015 as a slowing economy takes its toll on loan growth.
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Abu Dhabi to convert unused land into car parks
Finding a parking spot is a common issue that motorists face in Abu Dhabi despite the construction of multi-storey parking facilities in some areas. Gulf News previosuly reported of residents complaining about lack of parking spaces in areas that have …
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CEO of Dubai airport offers to help Trump, U.S. improve hubs
DUBAI, United Arab Emirates — Dubai International Airport would welcome a call from the Trump administration on ways to improve American airports, the CEO of the Mideast hub said on Tuesday as it retained the title of the world’s busiest for international …
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Dubai airport widens gap over London's Heathrow
Dubai is already the world’s busiest international airport and there’s no sign of it relinquishing the title. More than 83.6 million passengers traveled through Dubai International last year — 5.6 million passengers, or 7%, more than in 2015. Its closest …
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Dubai Police rescue special needs boy locked in bathroom
Dubai: Dubai Police have helped a special needs boy who locked himself inside a bathroom reportedly due to his emotional situation, police said. Brigadier Kamil Butti Al Suwaidi, director-general of the Department of Operation Affairs, said they received a …
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Afridi helps release Pakistani prisoners in Dubai
Dubai: Famous Pakistani cricket star Shahid Afridi cooperated with Dubai Police to release 30 Pakistani prisoners in Dubai after paying off their financial dues. The former captain of the Pakistan cricket team tweeted: “By grace of Allah, we are …
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Burj Khalifa glows with Tricolour to mark India's Republic Day
#India pic.twitter.com/p8gfl1mr9X — Burj Khalifa (@BurjKhalifa) January 25, 2017 The LED shows were held thrice and will be repeated on Thursday along with complimenting Dubai Fountain shows. “The visual expression of the tri-colors underlined the …
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Dubai to get first floating houses, made in Finland and shipped by sea
A swanky new waterfront development in Dubai will feature the UAE’s first floating houses, plus restaurants and a yacht club that also bob on the waves – all made in a factory in Finland and “sailed” to the Gulf later this year. Finnish firm …
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Dubai Financial Market : Deyaar upbeat despite fall in profits
The Dubai developer Deyaar says it is “cautiously optimistic” about the year ahead despite reporting a 25.8% decline in profits for 2016. The company said it made a net profit of AED 216 million last year, compared to AED 291 million in 2015 …
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ABB inaugurates 315 KW solar power plant in Dubai
The plant, located at the ABB offices in Dubai, is one of the largest of its kind in the region ABB’s new 315 kilowatt (kW) solar power plant, one of the largest of its kind in the region, was inaugurated by Saeed Mohammed Al Tayer, MD and CEO of Dubai …
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Be a fractional owner of a property in Dubai
A property investment scheme has opened doors for ordinary investors to buy a stake in luxury real estate. Known as the fractional ownership method, the scheme allows a much broader cross-section of investors to become part owners of high-stakes …
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Dubai Properties delivers over 3,000 housing units in 2016
Dubai Properties (DP), a leading UAE-based real estate master developer, concluded 2016 with a successful handover of more than 3,000 residential units, supporting one of the city’s leading handover tallies since 2012. The developer’s sought after …
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The Crown Prince of Abu Dhabi arrives as the guest of honour for India's 68th Republic Day celebrations
The Crown Prince of Abu Dhabi and deputy supreme commander of the armed forces of the United Arab Emirates, Sheikh Mohamed bin Zayed Al Nahyan arrived on an official visit to India on Tuesday afternoon. The Crown Prince who will be the Chief Guest for …
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Dubai Islamic Bank 2016 net profit rises 6%, beats forecasts
Dubai: Dubai Islamic Bank (DIB) said on Wednesday its 2016 net profit rose 6 per cent, beating analysts expectations. The company said it saw robust growth in profitability despite slow economic environment even as impairment losses declined. The bank …
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UAE property to get pricier: Here is why
* Raising interest rates typically strengthens a currency and the UAE central bank will mirror any moves by the Fed to maintain the dollar peg A stronger dirham value will likely weigh on the UAE’s real estate sector this year, a Dubai-based property …
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Dubai Properties yields over 3,000 units in 2016
DUBAI Properties (DP), a leading Dubai-based real estate master developer and asset manager known for renowned destinations across the Emirate, concluded 2016 with a successful handover over 3000 units, supporting one of the city’s leading handover …
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