Emirates Airlines reported a 72 percent drop in 2011 earnings on Thursday, with rocketing fuel prices cutting into profits.
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’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.
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.
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.
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.
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.
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.
To mark the 2011 Dubai Air Show, we've picked 12 aircraft whose design and construction make them key players in almost a century of innovation.
On one hand the idea of another record year for aerospace manufacturing hardly makes sense, and yet on the other, air travel remains an industry that is still expanding.
While other industries remain mired in red ink amid the global recession, Boeing and Airbus, the two largest aircraft manufacturers, are entering a period of unprecedented growth.
Despite being profitable in 2011, the airline industry is bracing for turbulence in 2012. The combination of major tax increases and fuel prices that are widely expected to rise means there could be rougher skies ahead for the carriers. Passengers, as well, will likely face fewer frills, fewer route options and notably higher prices.
Despite political uncertainty induced by recent social turmoil, the Arabic Gulf region can remain attractive to Western investors, experts told CNBC on Wednesday.
The role of financial investors in commodity markets is overestimated, veteran oil trader and CEO of the Dubai Mercantile Exchange Tom Leaver told CNBC.com.
Part of the bet of investing in frontier markets is that they will eventually mature into emerging markets. And that may happen for a couple later this summer, analysts told CNBC.