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UAE News and Analysis

News

Abu Dhabi Commercial Bank reports 19 per cent profit increase

ADCB reports 19 per cent profit increase Subscription Required

23 July 2014 | By Rebecca Spong

Abu Dhabi bank’s non-performing loan ratio improves

Onshore oil

ExxonMobil declines Abu Dhabi onshore bid Subscription Required

22 July 2014 | By Mark Watts

Abu Dhabi expected to make final decision on onshore oil fields in early 2015

Dubai extends deadline for 600MW power plant expansion

Dubai extends deadline for power plant expansion Subscription Required

22 July 2014 | By Andrew Roscoe

Work involves expanding existing M Station facility in Jebel Ali

Yas Mall

Aldar signs deal with Chalhoub for Yas Mall Subscription Required

22 July 2014 | By Colin Foreman

Dubai-based retailer Chalhoub will open a 18,600 department store at new shopping centre

Business

Faithful+Gould to focus on programme management Subscription Required

22 July 2014 | By Colin Foreman

Consultant says clients increasingly want global services

Gas refinery

Abu Dhabi tenders integrated gas packages Subscription Required

22 July 2014 | By Mark Watts

State gas processor invites companies to submit bids on offshore and onshore pipelines

National Bank of Fujairah sees profit jump 31 per cent

National Bank of Fujairah sees profit jump Subscription Required

22 July 2014 | By Rebecca Spong

Bank’s net impairment losses fall by 15.2 per cent in first half of year

Water transmission

Eleven bid for Dewa water pipelines Subscription Required

21 July 2014 | By Andrew Roscoe

Work will involve supply and installation of glass reinforced pipelines

Dubai creek

Dubai seeks contractors for new creek crossing Subscription Required

21 July 2014 | By Colin Foreman

Dubai creek tender is expected to attract interest from new international players

Bids due in August for Ras al-Khaimah independent water project

Bids due for Ras al-Khaimah private water project Subscription Required

21 July 2014 | By Andrew Roscoe

Commercial submissions due on 10 August

Bank

Abu Dhabi Islamic Bank posts increased second-quarter profits Subscription Required

21 July 2014 | By Rebecca Spong

UAE banks begin posting strong second-quarter results

Dubai Mall to expand

Dubai to build more than $2.7bn of new retail space ahead of Expo Subscription Required

21 July 2014 | By Colin Foreman

Mall of the World is the largest project planned

Caterpillar equipment

Unatrac to consider bond issuance Subscription Required

20 July 2014 | By Rebecca Spong

Mansour Group-owned, Caterpillar equipment dealer Unatrac to turn to capital markets in coming years

Nakheel to build new villa community for leasing Subscription Required

19 July 2014 | By Colin Foreman

Dubai-based developer Nakheel’s 1,000 high-end villas will be built in the Nad al-Sheba area

Commercial Bank of Dubai posts highest first half results to date Subscription Required

17 July 2014 | By Rebecca Spong

Bank achieves AED581.1m in net profit  

Dewa awards contract to improve water networks Subscription Required

16 July 2014 | By Andrew Roscoe

Dubai Electricity & Water Authority project is aimed at boosting efficiency of emirate’s water transmission services

Nakheel officially signs design and engineering deals Subscription Required

16 July 2014 | By Colin Foreman

Contracts cover Deira Islands Mall and Palm West Beach

Dubai Investments targets new acquisitions Subscription Required

16 July 2014 | By Rebecca Spong

Firm aims to strengthen real estate portfolio

UAE aims to land on Mars by 2021 Subscription Required

16 July 2014 | By Mark Watts

UAE to set up new space agency to coordinate unmanned space probe programme

Dewa awards contract for solar centre Subscription Required

16 July 2014 | By Andrew Roscoe

Innovation centre will be located at Mohammed bin Rashid Al-Maktoum Solar Park

Analysis

Dubai Mall

Dubai's 13 biggest shopping mall developments Subscription Required

21 July 2014 | By Colin Foreman

Mall of the World tops the $2.7bn-worth of Dubai-based shopping centre projects in MEED’s list

UAE upstream

UAE upstream awards dominated by Petrofac and NPCC Subscription Required

16 July 2014 | By Mark Watts

Nasr award brings total National Petroleum Construction Company haul to $4.3bn since 2012

Additional capacity requirements 2013-20

Mirfa IWPP marks first private utility award of the year Subscription Required

9 July 2014 | By Andrew Roscoe

Three independent utility schemes were awarded in 2013

Dubai Multi-Commodities Centre

DMCC fuels commodity flows through Dubai Subscription Required

8 July 2014 | By Rebecca Spong

Dubai’s diamond and gold trade soars

Markets

Market regulators must toughen up Subscription Required

3 July 2014 | By Melissa Song Loong

The sharp fall in UAE contractor Arabtec’s share price has led to calls for tougher regulation

Al-Mahmoudi: Relationship with Dubai very important

Regional market key to Sharjah's economic growth Subscription Required

3 July 2014 | By Colin Foreman

Hussain Mohamed al-Mahmoudi, the director-general of Sharjah Chamber of Commerce, highlights the role trade plays in Sharjah’s economic growth

Oil offshore

Oil exporters put the brakes on spending Subscription Required

12 June 2014 | By Dominc Dudley

Oil exporters are starting to trim spending to keep budgets more in line with oil prices

Oil prices and Middle East oil production

Stable oil prices expected in 2014 Subscription Required

11 June 2014 | By Kevin Baxter

Energy Information Administration forecasts average prices of almost $105 a barrel  

Dubai real estate

Dubai property overheating fears resurface Subscription Required

10 June 2014 | By Jeff Florian

The World Expo in 2020 will be key to Dubai’s property sector growth, but creating a sustainable market and avoiding another real estate bubble must be high on the agenda

George Kostas, CEO, MAF Properies

Interview: George Kostas, CEO of Majid al-Futtaim Properties Subscription Required

5 June 2014 | By Colin Foreman

The Dubai-based mall operator is undergoing an evolution into a fully fledged, mixed-use property developer, and its CEO is keen to expand on the firm’s shift in business strategy

GCC stock market performance

UAE and Qatar stocks rise to recover mid-May losses Subscription Required

28 May 2014 | By Melissa Song Loong

Investors took advantage of cheaper buying opportunities

Sharjah

Sharjah’s rating affirmed by Standard & Poor’s Subscription Required

26 May 2014 | By Rebecca Spong

Estimated economic growth of 5 per cent for Sharjah in 2014

Risk: While the UAE and Qatar markets could become more volatile, some investors may be willing to take on the risk

Promoted status moves markets Subscription Required

22 May 2014 | By Melissa Song Loong

The Qatar and UAE upgrades to emerging market status have triggered a wave of increased volatility

Abu Dhabi

Abu Dhabi’s construction rebound Subscription Required

1 May 2014 | By Colin Foreman

Developers in the emirate are selling off-plan properties again as confidence returns to the market

UAE banks' first-quarter results

UAE banks post strong first quarter results Subscription Required

30 April 2014 | By Rebecca Spong

Market set to get more competitive as economy strengthens

Abu Dhabi peak power demand forecast

Exports drive growth in Abu Dhabi electricity demand Subscription Required

24 April 2014 | By Andrew Roscoe

Abu Dhabi could face electricity shortfall by 2016 if extra capacity does not come online

Top 100 projects index, Q1 2014

Kuwait’s Clean Fuels Project edges Top 100 Projects value higher Subscription Required

24 April 2014 | By Robert Jones

A busy first quarter for 2014 saw 15 entrants in the MEED Top 100 Projects index

Strategy: Dubai is seeking to use private-public partnerships and stock market listings to raise financing

Dubai’s search for finance Subscription Required

17 April 2014 | By Rebecca Spong

Faced with a huge debt pile and risk-averse banks, the emirate is seeking new ways to fund its boom

Recovery

The growing appetite for bonds Subscription Required

10 April 2014 | By Melissa Song Loong

Increased corporate activity spurred by strong economic growth is helping to expand the market

Serco is the service provider for the Dubai Metro

Bringing the region's services to life Subscription Required

10 April 2014 | By Colin Foreman

Facilities management firm Serco works quietly in the background, providing major services across various sectors in the region, but its CEO is looking to extend its reach

Comment

Nakheel Nad al-Sheba

Dubai developers must end sales price concerns

19 July 2014 | By Colin Foreman

Developing cash-generating assets requires funding, but delivers long-term revenues

Dubai Metro: Expansion could link to more areas

Metro progress is a promising sign

17 July 2014 | By Colin Foreman

Both Dubai and Doha will benefit in the long term from the metro projects under way for World Cup and Expo

Biggest mall: Mall of the World is back on track

New mall depicts cautious approach

10 July 2014 | By Colin Foreman

The change in location for Dubai’s Mall of the World shows developers are continuing to be risk-averse

Dubai construction

'Come and we will build' now Dubai's mantra

10 July 2014 | By Colin Foreman

Risk averse developers break from ‘build and they will come’

The Mall of the World site as seen from Sheikh Zayed Road

Dubai must grow for world’s biggest malls

6 July 2014 | By Colin Foreman

Almost every major shopping centre in the emirate is being expanded

UAE: Greater transparency needed in capital markets

UAE regulator under pressure

3 July 2014 | By Melissa Song Loong

The dramatic slump in Arabtec Holding’s share price shows more action is needed to tackle suspicious behaviour on the stock markets

Arabtec share price has fallen

Arabtec locked in a fight for survival

26 June 2014 | By Colin Foreman

Company’s ability to manage risks will be thrown into doubt following meltdown

Nakheel back from debt

The milestone is Nakheel is back Subscription Required

25 June 2014 | By Colin Foreman

Prepaying all bank debts will allow Nakheel to return to its former glories

Markets

Nasdaq Dubai vies for higher growth

19 June 2014 | By Rebecca Spong

More sukuk listings on the exchange will help Dubai realise its goal of becoming a hub for Islamic finance

Hasan Abdullah Ismaik, former CEO, Arabtec

Arabtec CEO’s abrupt exit

19 June 2014 | By Colin Foreman

Hasan Abdullah Ismaik has resigned with little explanation as to whether the move was due to personal conflict or the board losing faith in him

Dubai real estate

Dubai faces real estate slowdown

12 June 2014

Now that property prices have started to dip, doubts are resurfacing about the strength of Dubai’s market

Mall of the Emirates

Mall developers display confidence

29 May 2014

Dubai’s status as a global hub has given shopping mall developers the confidence to move on with projects

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