Banks from Saudi Arabia to Dubai are feeling the pain of the Middle East’s slowdown. Many of the region’s largest banks missed analysts’ earnings estimates in the third quarter as lenders provisioned for higher bad loans and funding costs increased.
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Business confidence in UAE, rest of GCC hold up despite uncertainty
Dubai: Confidence of business owners in the UAE and the rest of the Gulf Cooperation Council (GCC) region is holding up despite the current challenging economic climate. A survey conducted among 196 business leaders in the GCC over the past six months …
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Guga banking on major upset
The UAE Beach Soccer coach is confident of a first major upset as his team readies to take on three-time world champions Brazil in their opening match of the Sixth Samsung Beach Soccer Intercontinental Cup Dubai. The five-day tournament that brings …
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UAE Mars Mission: Laying the foundation of a space industry
We are currently in the subsystem design phase, which should be completed by the end of the year,” Omran Sharaf, Project Manager of the UAE Mars Mission, told Gulf News during a visit to the Mohammad Bin Rashid Space Centre (MBRSC). The mission is not …
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Water released into Dh2b Dubai Canal
Dubai: Dubai Canal is set to open next month with work on the Dh2 billion project moving on schedule, Gulf News can confirm. Water has been released in Dubai Canal for the first time during its three year period of construction as part of a testing process.
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Emirates NBD ranked 'strongest bank in UAE'
Emirates NBD, a leading bank in the region has been ranked the ‘Strongest Bank in the UAE’ by the prestigious Asian Banker’s ‘AB 500 Strongest Banks in 2016.’ The bank, the largest in the UAE, was rated highly for its sound growth record and its …
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Dubai Islamic Bank Q3 net profit down 9.9 per cent
Dubai Islamic Bank, the United Arab Emirates’ largest Sharia-compliant lender, on Monday posted a 9.9 per cent drop in third-quarter net profit, in line with analysts’ forecasts. The bank made Dh876.3 million in the three months to September 30 …
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Dubai Islamic Bank 9-month net profit up 7% to Dh3b
Dubai: Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE by total assets, on Monday reported a Group Net Profit of Dh3.01 billion, up 7 per cent compared with Dh2.8 billion for the same period in 2015. For the third quarter of the year the bank …
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UAE Penal Code overhaul to adopt restorative justice
Insulting the UAE, its flag, national logo, leadership or institutions will carry a jail term ranging between 10 and 25 years and a fine of at least Dh500,000. Publishing false news, statements or rumours with a purpose of terrifying the people or harming …
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Dubai Tourism approves 1,805 holiday homes
Of those, 39 have been approved, enabling them to enter the market and join the 78 approved holiday home operators already doing business in Dubai. In order to obtain a license, homeowners must ensure their property meets the required quality, and health …
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Dubai cyclists to raise funds for breast cancer patients
Dubai: Hundreds of Dubai cyclists will come together to take part in the Dubai Pink Cancer Ride Campaign on Thursday to raise funds for underprivileged patients affected by breast cancer. The 16km ride will begin at 7.30am and will take place along …
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UAE salary guide 2017: How much you can expect to earn in finance, technology, HR and admin
Entry salaries for professionals in finance and accounting, financial services, technology and administration sectors are expected to rise an average 2.5 per cent over the next year, according to the Robert Half 2017 Salary Guide, which benchmarks wages …
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Dubai is poised to be the capital for future technologies
Dubai Future Foundation’s deal with Autodesk to provide US$100 million financing for entrepreneurs and start-ups in the 3D printing sector is a step in the right direction, said a local daily. “The emirate continues to lead the way in the crucial shift …
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Dubai’s Deyaar reports 22.5% increase in Q3 profit
Dubai property developer Deyaar has announced a 22.5 per cent increase in net profit in Q3 following a significant rise in revenues. Net profit for the three-month period totaled Dhs56.4m ($15.4m) and Dhs168m for the first nine months of the year. This …
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Water released in Dubai Canal
Dubai: Dubai Canal is set to open next month with work on the Dh2 billion project moving on schedule, Gulf News can confirm. Water has been released in Dubai Canal for the first time during its three year period of construction as part of a testing process.
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Emirates, Moet & Chandon open business class 'champagne lounge'
Emirates’ upgraded business class lounge at Dubai International Airport’s Concourse B now looks like an even better place to spend a few hours between flights. The airline colossus has partnered with Moët & Chandon to open a champagne lounge serving four …
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Dubai Police hold first happiness forum
Dubai: A poll conducted in coordination with research firm Gallup in Dubai showed that 81 per cent of the respondents feel at ease, compared to the international standard of 71 per cent. The figures were part of a presentation by Abdullah Al Shaibani …
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