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HuaweiDUBAI — The UAE on Monday abolished the minimum capital requirement of Dh150,000 for setting up a private sector limited liability company, a long-awaited move aimed at stimulating business start-ups — and investment in the nation’s ailing economy.
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DUBAI — Profit-taking in Aramex and Air Arabia wiped out early gains in Dubai on Sunday, while First Gulf Bank lifted Abu Dhabi’s benchmark index. The two stock exchanges had a strong start but gains petered out towards the close, with The Dubai Financial Market main index barely changing from Thursday at 1,917.70 after rising by 1.6 per cent in mid-day session. The Abu Dhabi Securities Exchange gained half
 a per cent at 2,859.11.
DUBAI — Fortune Group, a leading Dubai based property developer, announced that work on Burj Al Alam is going ahead at a steady pace, with the piling work currently progressing satisfactorily at the construction site in Dubai’s Business Bay. Middle East Foundations Group was awarded the shoring and piling contract for the Dh4 billion project.
ABU DHABI — Abu Dhabi-based developer Hydra Properties is reassessing some of its projects due to the ongoing economic downturn and reduced investor interest in its properties, the company’s chief said on Sunday.
Singapore and Dubai are similar in many ways; both are dynamic and vibrant cities with the main contributors to the economy being tourism, banking/finance, and logistics. A recent study by Dr. Cedwyn Fernandes, Associate Professor at Middlesex University Dubai, shows that Dubai which is well on the path of establishing itself as a world class logistics hub, compares favourably with Singapore, the number one ranked country in logistics.
DUBAI — Gulf General Investment Company PSC, or GGICO, announced a net profit of Dh198 million for the first half of 2009, with revenues of Dh 3.1 billion.
ABU DHABI — Emotional issues which compound organisational problems are the most difficult challenges faced by family businesses in the Middle East, according to authors of a new book published by INSEAD.
ABU DHABI — The credit rating agency Standard and Poor’s has reaffirmed an A/Stable A-1 rating on Abu Dhabi Commercial Bank, or ADCB, as Abu Dhabi’s second largest lender has adequate funding and liquidity.
DUBAI — Integrated logistics solutions provider Agility announced on Saturday the launch of its new Container Freight Station, or CFS — a major new consolidation and redistribution service — from its hub in Dubai.
DUBAI — Citigroup has upgraded First Gulf Bank to ‘buy’ from hold, and raised its target price to Dh20 from Dh14.40, saying the Abu Dhabi-based bank posted strong second quarter results.