GO
Loading...

United Arab Emirates

More

  • *Abu Dhabi Islamic Bank plunges after Q4 results disappoint. DUBAI, Jan 26- Saudi Arabia's stock market rose on Monday as it traded for the first time since King Salman succeeded his brother Abdullah, who died on Friday. After swiftly assuming power, King Salman pledged continuity in energy and foreign policies and appointed younger men as his heirs, appearing to...

  • *European Central Bank easing boosts global emerging markets. *Abu Dhabi's FGB jumps ahead of Q4 results. DUBAI, Jan 25- Stock markets in the United Arab Emirates and Qatar were mixed in low-volume trade on Sunday as most countries in the Middle East closed their bourses following the death of Saudi Arabia's King Abdullah.

  • Every January, Dubai is decked out in lights, banners and roadside ornaments heralding the event. Dubai, one of seven federal states in the United Arab Emirates, has far smaller oil reserves than the capital Abu Dhabi, and its economy relies heavily on retail, tourism and international trade. Russian travel operators in Dubai reported a sharp drop in the number of...

  • *King Salman faces biggest economic challenge since global crisis. Saudi Arabia can no longer throw money at problems in same way. King Salman, who took the throne in the early hours of Friday after the death of his brother King Abdullah, inherits an economy that faces its biggest challenge since the global financial crisis in 2009..

  • By appointing his youngest half-brother Muqrin, 69, as Crown Prince and nephew Mohammed bin Nayef, 55, as Deputy Crown Prince, Salman has swiftly quelled speculation about internal palace rifts at a moment of great regional turmoil. Salman, thought to be 79, takes over as the ultimate authority in a country that faces long-term domestic challenges compounded...

  • RIYADH, Jan 23- Saudi Arabia's new King Salman appointed a grandson of the founding monarch into the line of succession for the first time on Friday, moving fast after the death of King Abdullah to quell fears of dynastic instability at a time of regional turmoil. Mohammed bin Nayef becomes the first grandson of the kingdom's founding monarch, King Abdulaziz,...

  • *Global Telecom leads gains in Egypt. *UAE Islamic lenders rise after Sharjah Islamic Bank results. DUBAI, Jan 22- Gulf stock markets were mixed on Thursday, coming under pressure from some negative earnings reports but supported by stronger oil, while Egypt established a clear break of major technical resistance.

  • *Saudi Arabia 2015 growth forecast cut to 3.2 pct from 4.3 pct. *Even Oman, Bahrain to sustain solid growth. As a result, Saudi Arabia's hydrocarbon export revenue in 2015 is forecast to tumble to $213 billion, instead of totalling $290 billion as the September survey predicted.

  • VIENNA, Jan 22- Big foreign shareholders in Austrian companies OMV and Telekom Austria could exit agreements with the state following plans by the government to change the way it manages its holdings, a senior official said. Siegfried Wolf, the chairman of state holding company OIAG, made the comments in an interview with magazine News while defending OIAG's...

  • The Brookings Institution and JPMorgan Chase ranked 300 major cities worldwide for economic performance last year.

  • *Oil's plunge boosts Egypt's economic prospects. *Global Telecom surges on Djezzy deal report. DUBAI, Jan 21- Low oil prices helped Egypt's stock index hit a 6-1/ 2- year closing high on Wednesday, as bets on property stocks and positive corporate news also buoyed sentiment.

  • DUBAI, Jan 21- Dubai developer Nakheel expects to maintain profit growth of 40 percent seen last year in 2015 and 2016, its chairman said on Wednesday, as it benefits from diversifying into the retail and hospitality sectors. The positive outlook from Ali Rashid Lootah came after the state-owned company reported a 43.2 percent jump in full-year profit for 2014...

  • Airbus-backed Islamic leasing fund signs maiden deal Wednesday, 21 Jan 2015 | 4:37 AM ET

    Based on list prices, the deal for the nine planes is worth approximately $2 billion, according to Dubai- based International Airfinance Corporation, which manages the fund. "We see demand for the A320 and A330 families, and potentially later on the A350," said Ghodbane, adding that the fund would consider deals for Airbus's largest jet, the A380, for longer lease...

  • Alitalia's new strategy envisions new routes from Rome to Dusseldorf, San Francisco, Beijing, Santiago, Chile, among other cities, and extra flights to New York, Chicago, Rio de Janeiro and Abu Dhabi, Etihad's hub. Strategy focuses on three Italian hubs: Milan's Malpensa airport for increased long-haul flights; Milan's Linate for more connections to partner...

  • The amount raised through listings in the second half of 2014 fell 63 percent from the first six months of the year to $3.8 billion, Thomson Reuters data showed. Energy company listings shelved since July include Dubai's oil-rig contractor Shelf Drilling, which was planning to list on the London Stock Exchange, and Samudra Energy, which owns oil and gas...

  • *Saudi Telecom tumbles on Q4 earnings miss. DUBAI, Jan 20- Most Gulf stock markets closed either flat or lower on Tuesday as oil prices remained volatile and local companies delivered no positive fourth-quarter earnings surprises. However, the commodity's price rose above $49 per barrel later in the day, supporting Saudi Arabia's bourse which, unlike other Gulf...

  • Jan 20- Shake Shack Inc, a burger chain that grew out of a hot dog stand in New York's Madison Square Park, said it expected its initial public offering to be priced at $14- $16 per share, valuing the company at up to $568 million. The offering follows a string of successful IPOs by casual dining chains last year, including Habit Restaurants Inc, El Pollo Loco Holdings Inc...

  • ABU DHABI, Jan 20- A plane powered by the sun will attempt an unprecedented flight around the world next month, the project's founders said, seeking to prove that flying is possible without using fossil fuel. Solar Impulse 2 is set to take off from Abu Dhabi with stopovers in India, Myanmar and China before crossing the Pacific Ocean and flying across the United...

  • *Qatar Islamic Bank falls despite strong results. DUBAI, Jan 19- Most Gulf equity markets pulled back on Monday as oil prices slipped again and negative fourth-quarter earnings weighed on Saudi Arabia's bourse. Saudi Arabia's main index slid 0.6 percent as petrochemicals giant Saudi Basic Industries fell 1.9 percent and Savola Group, the kingdom's biggest...

  • *Budget deficits this year could total $80- 100 billion. DUBAI, Jan 19- Plunging oil prices could prompt Gulf Arab sovereign wealth funds to pull tens of billions of dollars out of global markets this year, with much of the money expected to come out of U.S. dollar debt and deposits with banks abroad. They have grown rapidly; including the foreign assets of Saudi...