Local News

DUBAI / WAM Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, announced continued financial growth throughout its business during the first six months of the year, with overall group revenue expanding by 4 percent to AED15.7 billion and EBITDA increasing by 4 percent to AED2.0 billion. At constant FX ...

ABU DHABI / Emirates Business Abu Dhabi recorded a remarkable 30% increase in the number of hotel guest arrivals this June, compared to the same month in 2016, boosted by an exceptional Eid Al Fitr period, which saw many premium hotels fully booked. In first six months of 2017, the emirate welcomed more than 2.25 million guests to its 165 ...

ABU DHABI / WAM The Abu Dhabi Securities Exchange (ADX) has requested all listed companies to disclose the agendas and outcome of their board meetings which discuss the possibility of awarding shares to their employees in form of equity incentives. The request comes in implementation of the Securities and Commodities Authority’s resolution under which the system of issuing public stock ...

DUBAI / Emirates Business Aramex, the disruptive leader in the global logistics and transportation industry, announced its financial results for the Second Quarter and First Half of 2017. Aramex’s Q2 2017 Revenues grew by 4% to AED 1,148 million, compared to AED 1,105 million in Q2 2016. Net profits in Q2 2017 decreased by 23% to AED 97 million, compared ...

Dubai / Emirates Business The Dubai Chamber of Commerce and Industry (DCCI) recently hosted a workshop in partnership with Google to assist Chamber members’ efforts to strengthen their online presence and reach among potential customers. The event, held at Dubai Chamber’s premises, was the first in a series of workshops aimed at familiarising companies with the Google My Business solution, ...

Dubai / Emirates Business Gulf Petrochem Group (GP) has successfully raised $150 million from a group of international and local financial institutions based in the GCC. In an environment of continued low global oil prices, the financing will be used to support the group’s activities around the world. The borrowing will take the form of an 8 year term loan ...

DUBAI / WAM Dubai Investments has reported net profit of AED480 million for the six month period ended June 30th, 2017, compared to AED516 million in the same period last year. The company’s total assets grew to AED16.42 billion and the total income during the period was AED1.28 billion. The results include 8 percent growth in rental income to AED459 ...

DUBAI / Emirates Business The World Economic Forum (WEF) has released its Digital Evolution Index (DEI) for 2017, classifying the UAE as a “stand out” country with an overall score of 3.22, which makes it the most advanced market in the Arab world and 22nd on a global level. Stand Out countries are “highly advanced digitally, and exhibit high momentum.” ...

DUBAI / Emirates Business Passenger numbers at Dubai World Central (DWC), Dubai’s second airport, grew by more than 35 percent in the first half of the year, according to the traffic report issued by operator, Dubai Airports. DWC welcomed 554,993 passengers in the first half of 2017 compared to 410,278 passengers during the first six months last year, a growth ...

ABU DHABI / WAM The UAE stock markets started the first session of the week on a slight rise, with some traders offsetting their options in the build-up to the closure of July accounts. In Sunday’s trading, the banking and real estate sectors drove the market slightly high, with traders still waiting for leading property companies to reveal their H1 ...