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Asia Top News and Analysis Dubai


  • DUBAI, Oct 1- Abu Dhabi- listed First Gulf Bank. FGB's existing 2017 maturity- a $500 million Islamic bond, or sukuk,- was yielding about 2.7 percent on Monday, according to Thomson Reuters data, at a z-spread of about 207.6 basis points. Benchmark-sized is understood to mean at least $500 million.

  • DSV to buy Dubai-based Swift Freight Monday, 1 Oct 2012 | 4:58 AM ET

    COPENHAGEN, Oct 1- Danish freight forwarder DSV. has agreed to buy Dubai- based Swift Freight, it said on Monday, with the aim of expanding in the Middle East and Africa.

  • DUBAI, Oct 1- Abu Dhabi- listed First Gulf Bank. Citi, National Bank of Abu Dhabi, HSBC, Standard Chartered and Deutsche Bank. Reuters reported last week that the lender, the second biggest by market value in the United Arab Emirates, was eyeing a new bond sale.

  • Under new rules, announced in early April with a Sept. 30 deadline, any bank's lending to the governments of the seven-member UAE federation and related entities is capped at 100 percent of its capital base, while lending to a single borrower is curbed at 25 percent.

  • DUBAI, Oct 1- Abu Dhabi Investment Authority, the cash-rich emirate's sovereign wealth fund, has hired Colm Lanigan to head principal investments at its private equities department, it said on Monday. Lanigan was most recently the managing partner of Tara Capital, a New York- based boutique private equity firm that he started in 2005..

  • KUWAIT, Oct 1- Banks in the United Arab Emirates will not be given an extension of the Sept. 30 deadline for them to limit their exposure to state-linked debt, a UAE central bank official said on Monday. Shamsi said the UAE central bank would deal on an individual, case-by-case basis with commercial banks on the issue of the deadline.

  • The prompt October/November spread climbed $1.25 to a backwardation of $10.25 a tonne, the highest in more than two weeks, according to Reuters data. Strong gasoline demand in the United States will see more naphtha being reformed into the transport fuel, instead of being sent to Asia.

  • DUBAI, Oct 1- Growth of premiums in Saudi Arabia's Islamic insurance industry has been slowing, but changes in the regulatory environment could reverse that trend in coming years.

  • *Qatar Islamic Bank also in market, may issue sukuk this week. By Rachna Uppal DUBAI, Oct 1- Abu Dhabi- listed First Gulf Bank. FGB may soon be joined by another regional bank, Qatar Islamic Bank, which is expected to issue a sukuk this week, following investor meetings.

  • Dubai Billionaire Staying Away From European Banks Monday, 30 Jul 2012 | 8:33 AM ET
    Bank Metallic Sign

    The chairman of one of Dubai’s best-known family-owned conglomerates is not considering investing in European banks again following a disappointing run as a stakeholder of Barclays.

  • Luxury Hotel Brand Bets on China Wednesday, 4 Jul 2012 | 5:49 AM ET

    With one luxury hotel already up and running in Shanghai and five more properties under development there, Jumeirah Group’s Executive Chairman says he’s really excited about China.

  • Venerable Ocean Liner to Become Dubai Hotel Tuesday, 3 Jul 2012 | 3:09 PM ET
    RMS Queen Elizabeth 2

    The vessel will open as the centrepiece of an entertainment village, including a maritime museum, in Port Rashid, where it has been berthed since it was retired from service in 2008.

  • Emirate Airlines Profit Plunges on Sky-High Fuel Costs Thursday, 10 May 2012 | 7:57 AM ET

    Emirates Airlines reported a 72 percent drop in 2011 earnings on Thursday, with rocketing fuel prices cutting into profits.

  • UAE Manufacturing ‘Solid,’ Orders Advance: HSBC Thursday, 3 May 2012 | 10:30 AM ET
    Dubai Palm Island

    In April, the HSBC UAE Purchasing Managers' Index rose to 53.5, the highest level since June 2011. The one-point increase is the strongest monthly gain since October of last year.

  • Dubai Police Chief Slams Muslim Brotherhood Wednesday, 28 Mar 2012 | 4:54 AM ET
    Dubai at night

    Dubai’s chief of police has thrust himself into a regional controversy, becoming the voice of Emirati opposition to the rising power of Islamists in the Arab world. The Financial Times reports.

  • Pentagon Relationship With EADS 'Improved': CEO Monday, 14 Nov 2011 | 6:58 AM ET

    The decade-long battle between Boeing and European arch-rival EADS for a $35 billion refueling airplane contract from the Pentagon ended in defeat for Airbus owner EADS earlier this year – but Chief Executive Louis Gallois insists that the bidding process improved its relationships with the U.S. military.

  • Boeing and Airbus Battle Heats Up in Dubai Monday, 14 Nov 2011 | 4:25 AM ET
    Boeing 747-8 Intercontinental

    The perennial war of words between Boeing and Airbus heated up with both sides accusing the other of delivery delays as the crowds gathered for the opening day of the Dubai Airshow on Sunday.

  • Big Boeing Order Placed for Emerging Markets Monday, 14 Nov 2011 | 3:17 AM ET
    Boeing 777 Freighter

    The bumper order Emirates placed for Boeing 777s at the start of the Dubai Airshow was made in anticipation of strong growth in emerging market demand, Tim Clark, president of the airline, told CNBC Monday.

  • Emerging Markets Dominate Dubai Sunday, 13 Nov 2011 | 8:10 AM ET
    Dubai Airshow

    Boeing, and its arch rival Airbus, have in recent years witnessed something of a boom in airplane orders despite the US and Europe battling against financial crisis and economic slowdown.

  • Boeing's Dreamliner Debuts in Middle East at Airshow Saturday, 12 Nov 2011 | 11:29 AM ET
    Boeing's Dreamliner 787.

    As the eternal battle to secure aircraft orders continues, Boeing’s newest product, the 787 Dreamliner, landed in the United Arab Emirates for the 2011 round of the Dubai Airshow. It is the first time the plane is shown to the Middle East public with a readied mockup interior.