Dubai construction duo Arabtec and Drake & Scull reduce losses

Arabtec said the financial impact of discontinued operations in Saudi Arabia is expected to decrease further after recording a third-quarter loss of 17 million dirhams on the business, against a 79 million dirham loss a year earlier. ($1 = 3.6729 UAE ... ( read original story ...)

UAE Indian banks NOT accepting old Rs500, Rs1,000

Indian financial experts in Dubai have rebutted the rumour spreading on social media about depositing the demonetised 500 and 1,000 rupee notes in a representative office of State Bank of India in Dubai. The Institute of Chartered Accountants of India ... ( read original story ...)

UAE residents' bank accounts balloon to Dh1,321.8 billion

Dubai: While government deposits are on a decline amid the oil slump, UAE residents continue to build their wealth, with the amount of private fortunes held in banks growing by several millions of dirhams recently. As of September 2016, the numbers on UAE ... ( read original story ...)

UAE and Saudi insurers resilient to economic headwinds

Dubai: The UAE and Saudi insurance markets have remained resilient despite ongoing economic headwinds resulting from the persistent decline in oil prices over the past two years according to a recent study by EY and Oxford Economics. “The UAE and KSA ... ( read original story ...)

Dubai hires HSBC to advise on finance of airports expansion

Dubai has hired HSBC to advise it on borrowing US$3 billion to finance the expansion of its two international airports as passenger numbers surge. The emirate is aiming to boost annual passenger flow at Dubai International Airport and Al Maktoum ... ( read original story ...)

Dubai Sponsors USD 3bn Airports Finance Deal

Dubai to Enable Passenger Traffic Target of 146m by 2025; New Al Maktoum International Airport Set to be Primary Airport for Dubai, and Home to Emirates Airline from 2025 Dubai's two international airports are set for a capacity-boosting, capex-fueled ... ( read original story ...)