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HuaweiDUBAI - UAE banks are likely to report weaker second quarter profits on larger provisions for losses due to their exposure to the faltering real estate sector and the troubled Saudi groups Ghosaibi and Al Saad, as well as tepid loan growth.
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DUBAI - Etihad Airways has signed a codeshare agreement with Turkish Airlines.The deal follows the launch of Etihad’s four flights a week service to the Turkish commercial capital, Istanbul, which began on 1 June.
DUBAI - Deyaar Development PJSC, which put a quarter of its projects in Dubai on hold, reported a 69 per cent decline in profit in the second quarter because of a slump in property prices in the emirate.
DUBAI - The UAE bourses on Sunday witnessed modest fall in line with regional benchmarks, which extend losses in a global correction in equities. Markets remained quiet and following the U-shaped trend that has become the norm recently. Positive opens fizzled out in mid-session and clawed back lost ground towards the close.
DUBAI - The region’s first furnace for testing and certifying fire rated doors and partitions used in the construction of all commercial, public, office and multi-family buildings, has been delivered to a Dubai laboratory.
DUBAI - Nokia topped as the best performing brand in the UAE and Emirates airlines crowned as the country’s best brand in the top ten ranking, according to a latest survey of consumers.
RIYADH - Saudi Arabian banks may report declines in second-quarter profit after they tightened lending rules and increased provisions for bad loans.
DUBAI - The Air Arabia Group, which oversees the operations of low-cost carriers based in the UAE and Morocco as well as a wide range of ancillary businesses in tourism and hospitality, announced the appointment of Jason Bitter as Chief Executive Officer of Air Arabia (Maroc), which launched operations from its hub in Casablanca on May 6, 2009.
DUBAI - India’s Kingfisher Airlines plans to launch eight new overseas routes including two for Dubai. The carrier’s new service to Dubai comes just one day after flydubai made an embarrassing climb-down on their plans to fly to all three cities in India they had planned for this month.
DUBAI/MANAMA - The Mohammed bin Rashid Al Maktoum Foundation has announced that a high-level delegation met with officials of the Bahrain Development Bank to explore ways to promote business initiatives and entrepreneurial activities among the youth in the Arab world.