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UAE News and Analysis

Riyadh

Dubai developer plans $3.7bn of malls in RiyadhSubscription

More than 10,000 new jobs will be created when two malls are completed

Air Arabia

Air Arabia profits fallSubscription

9 fils per share earning has been proposed

LNG carrier

UAE plans to commission floating gas terminal this yearSubscription

State-owned Abu Dhabi National Oil Company is planning to start imports in the second half of 2016

Bin Sulayem: Plans to open several ports in 2015

Bin Sulayem assumes dual role at DP WorldSubscription

Announcement coincides with 3 per cent volume growth report

Revenue from Dubai Mall accounted for 82 per cent of Emaar Properties' total revenues in 2014

Emaar Malls records 23 per cent growth in 2015 net profit Subscription

Total number of visitors increased to 124 million across the malls operated by the company

Dubai real estate

Dubai seeks contractors for sprawling affordable housing schemeSubscription

Low income development consists of 81 low rise buildings

Dubai Metro

Dubai metro bidders prepare financing proposalsSubscription

Roads & Transport Authority to study funding options

Frozen food

Alabbar leads GCC investors in bid to buy Americana stakeSubscription

UAE investment firm Adeptio inks agreement with Al-Khair Holding Company

Dubai Financial Market

Dubai Financial Market fourth quarter net profit declines 89 per centSubscription

Profit and revenues dropped as trading commissions plunged for only listed stock exchange in the region

Burj Khalifa Dubai skyine

Calatrava selected to design Dubai towerSubscription

New landmark will be built in the Creek area

Dubai_International_airport

Dubai tenders airport upgrade worksSubscription

Contract covers upgrade of systems supporting existing concourse

Gas plant

Abu Dhabi invites bids on gas processing plantSubscription

Facility to handle associated gas from Al-Dabbiya oil field

Dubai International airport

Major GCC airports post record passenger growth Subscription

Airports report double-digit increases in 2015

Dubai International Financial Centre

Barclays cuts 150 jobs in UAE corporate banking armSubscription

British bank the latest lender to reduce staff in the country amid economic slowdown

Nakheel's Palm Jumeirah

Nakheel profits dip in fourth quarter of 2015Subscription

Full-year profits rise by 19 per cent for Dubai developer

Al-Reem Island

Firms prepare to submit Abu Dhabi mall bidsSubscription

Retail development will be built on Reem Island

UAE finance

Union Properties in discussions for loanSubscription

Developer still seeking finance for four projects

UK firm wins Al-Maktoum airport contract

Dubai receives bids for Al-Maktoum airport expansionSubscription

Contract covers work on the existing passenger terminal

Nakheel's Palm Gateway project at the base of Dubai’s Palm Jumeirah

Nakheel awards Palm Gateway contractSubscription

Chinese and South Korean contractors to work on project

Education

Dubai plans largest library in the regionSubscription

It will house more than 4.5 million books

Coal-fired power station

Massive project finance pipeline for 2016Subscription

Project finance in 2016 shows potential, but banks may hold back

Oil rig

Board Report: February 2016Subscription

Region begins economic overhaul in response to low oil prices

The IMF estimates that on average, the richest 20 per cent of a nation benefits six times more from subsidies than the poorest 20 per cent

Cut subsidies and increase efficiencySubscription

Cheaper crude has convinced many regional governments to reform energy subsidies, a vital step towards changing the region’s wasteful habits    

Nakheel: Palm Jumeirah

GCC contract awards to fall in 2016Subscription

A sharp decline of 15 per cent is forecast for contract awards in the region, although a series of major contract awards in Dubai provides some cause for optimism

Dubai takes up region’s solar mantle

Renewable energy contract awards up 450 per centSubscription

Market is set for further growth in 2016

One at Palm Jumeirah

Strong start to the year by Dubai developersVideoSubscription

Contract awards giveconstruction sector some much-needed confidence

Oil: Production currently stands at 2.9 million b/d

Oil and gas assets lack buyersSubscription

Oil companies selling off assets in the region will struggle to find buyers in 2016

Offshore oil rig

The outlook for oil and gas in 2016Subscription

Many of the projects in the region’s oil and gas pipeline are in states such as Algeria, Iraq and Egypt, where politics can have a substantial impact

Emirates NBD in Dubai

Shareholders wait as UAE regulator scans banks’ profitsSubscription

 Shareholders will have to wait longer this year to know what return they will get on their investments

Saudi Arabia forms $10bn investment fund

Saudi Arabia set to introduce VAT in two yearsSubscription

Kingdom aiming for tax rate of 5 per cent

Construction

UAE contractors look back at a difficult yearSubscription

The decline in awards is due to the fall in oil prices and an oversupplied real estate market

Clare Woodcraft-Scott, CEO of the UAE philanthropic organisation the Emirates Foundation

Investing in a nation’s youthSubscription

A philanthropic organisation is working on programmes to ensure young Emiratis learn skills that can be transferred into the jobs market

Construction

Sentiment drops sharply in construction sector Subscription

Survey shows optimism about Saudi Arabia has dampened significantly, while real estate records the largest single reversal in sentiment

Sturgeon at the farm

Fish farming in the desert Subscription

The emirate houses the largest aquaculture farm in the world

Funding gap

Contractors bridge the funding gapSubscription

Companies are turning to banks as clients delay payments

majeed karim

Energy trading in GCC moves step closerVideoSubscription

The GCC wants to extend its electricity grid to be able to export and import energy beyond the bloc

Karim el-Solh, Gulf Capital

Gulf Capital shifts focus to consumer-driven investmentsSubscription

Interview: Karim El-Solh, CEO, Gulf Capital

Qatar seeks further prices from Facility D independent water and power plant bidders

Acwa Power gains further ground in GCC developer rankingsSubscription

UK/French Engie retains the number one spot in MEED’s 2015 GCC developer ranking

Dubai's Shuaa Capital closes SME loan

Low oil prices to test SMEsSubscription

Reduced government spending and weak economic growth will mean SMEs in some sectors suffer