UAE news

21 minutes ago Oil drops on record US crude output, weak demand fears
Oil prices fell on Thursday as US crude output rapidly approached an unprecedented 12 million barrels per day, amid concerns about weakening demand.
35 minutes ago Ajman Bank generates AED 50.2m profit in Q4
Ajman Bank on Thursday posted 32% year-on-year profit growth during the fourth quarter of 2018, recording AED 50.2 million against AED 38.1 million.
The contracts are still under discussion
37 minutes ago Eastern Co considers new contracts with int'l firms
Cairo — Mubasher: Eastern Co, Egypt’s monopoly cigarette maker, on Thursday has announced that it is considering new manufacturing contracts with international companies. The contracts are still under discussion and any further details will be …
3 hours ago Eshraq Properties nods to name change, new investment options
Eshraq Properties nods to name change, new investment options
Utico, the Utility Experts, is considering an IPO
3 hours ago UAE's Utico eyes IPO in 2 yrs
Dubai – Mubasher: Utico, the Utility Experts, is looking to offer a portion of its shares on the stock exchange within two years. Utico chairman Rashid Al Balooshi explained that his company had a clear listing plan, indicating that it has …
An Air Arabia jet
3 hours ago Air Arabia begins legal proceedings against Abraaj Group founder
Dubai – Mubasher: Air Arabia on Thursday stated it had begun legal proceedings against Abraaj Group founder Arif Naqvi by filing a misdemeanor case in the Sharjah court. This follows claims in the provisional liquidation of Abraaj Holdings and …
16 January 11:29 PM Oil goes up at Wednesday's settlement
Mubasher: Oil futures settled higher on Wednesday due to the decline in the US inventories.
16 January 10:34 PM Gold settles up on Wednesday
Mubasher: Gold went up at Wednesday’s settlement, backed by the negative developments in respect of Brexit.
16 January 07:27 PM Goldman Sachs swings to profit in Q4
Goldman Sachs posted a year-on-year profit in the fourth quarter of 2018, while its investment banking and investing and lending revenues came better than expected.
16 January 06:34 PM US crude inventories drop as oil prices rise
US crude oil stockpiles fell by 2.7 million to 437.1 million barrels in the week ended 11 January.
16 January 06:19 PM US builder sentiment recovers in January
US home builder morale improved in January on a gradual decline in mortgage rates in recent weeks, data showed on Wednesday.
16 January 05:59 PM Bank of America profit surges in Q4 on higher rates
Bank of America on Wednesday reported a year-on-year 208% surge in its net income during the fourth quarter of 2018, while its revenue climbed 11%.
16 January 05:34 PM Dubai Frame attracts 1m visitors in a year
The 150-metre structure offers views of Dubai’s old and modern city
16 January 05:31 PM Etihad Airways launches world’s 1st flight run by UAE plants
Sustainable fuel for the flight was produced from oil in Salicornia plants
16 January 05:30 PM Emaar launches 2nd phase of Expo Golf Villas
The new phase features a limited collection of three and four-bedroom premium villas
16 January 05:27 PM Pirelli opens P Zero World retail store in Dubai
The local distributor Al Hawai Tyre Company will operate the new store
16 January 05:26 PM GFH acquires Westside Office Business in UK
GFH along with its clients will invest throughout the holding period up to GBP 39.2 million
16 January 05:24 PM Emirates Islamic posts AED 924m profit in 2018
Total income of the leading Islamic financial institutions in the UAE levelled up 3% year-on-year
16 January 05:18 PM Fiserv to acquire First Data for $22bn
US financial technology provider Fiserv on Wednesday announced that it would purchase payment processor First Data in an all-stock $22 billion deal.
The 150-metre structure offers views of Dubai’s old and modern city
16 January 05:08 PM Dubai Frame attracts 1m visitors in a year
Dubai – Mubasher: Dubai Frame, an iconic structure that frames impressive views of Old and New Dubai, has attracted up to one million visitors since its opening in January 2018. The Dubai Frame, located in Zabeel Park, is considered the world’s …
16 January 04:58 PM Platinum may become new ‘Dark Horse’ among metals – PIMCO
Platinum is expected to be the dark horse among major metals in the coming period due to its low price
16 January 04:44 PM US import prices fall in December on lower fuel costs
The costs of the US import dropped in December 2018, helped mainly by lower fuel prices, data showed on Wednesday.
Abu Dhabi Power Corporation signed a strategic partnership agreement with Mubadala Investment Company and Masdar.
16 January 04:19 PM Abu Dhabi Corporation inks partnership deal with Mubadala, Masdar
Abu Dhabi - Mubasher: Abu Dhabi Power Corporation (ADPC) signed a strategic partnership agreement with Mubadala Investment Company and its subsidiary Abu Dhabi Future Energy Company (Masdar) during Abu Dhabi Sustainability Week 2019. The deal …
16 January 04:11 PM Turkey C.bank keeps policy rate on hold as inflation slows
Turkey's central bank left its benchmark interest rate unchanged on Wednesday, mollifying investor worries that it could relax policy after inflation retreated.
16 January 03:30 PM No-deal Brexit could be ‘fatal’ – German automakers  
German car manufacturers on Wednesday warned of dire consequences, if the UK crashed out of the European Union without an accord.