Local News

  Dubai / Emirates Business Front camera functionality is becoming just as important as having an effective rear-facing camera, and is rapidly climbing up the UAE smartphone shopper priority list, according to the country’s value-driven mobile brand, ‘Four’. In an era where selfies have become an integral part of the smartphone experience, a trend bolstered by the availability of photo-based ...

  Dubai / Emirates Business Aramex (DFM: ARMX), a leading global provider of comprehensive logistics and transportation solutions, today announced its financial results for the second quarter of 2016. Aramex’s Net Profits increased by 36% to AED 125.7 million, up from AED 92.5 million in Q2 2015. Revenues were also up 17%, to AED 1,105 million compared to AED 946 ...

  Dubai / Emirates Business Marka PJSC (DFM: MARKA), the first public stock retail operator in the UAE, has announced the launch of the first Vicolo restaurant in the UAE. Pioneering an Italian street food concept, the restaurant, a home-grown concept conceived by the Marka Hospitality Team, will open in Dubai Design District (d3). The inception of Vicolo will pave ...

  ABU DHABI / Emirates Business The 5 Star Marriott Al Forsan Hotel is slated to open in Abu Dhabi later this year. A management agreement was signed between, H.E. Saif Mohammed Al Hajeri, Chairman, Al Forsan Holding, and Mr. Alex Kyriakidis, President and Managing Director of Marriott International, Middle East and Africa in Abu Dhabi. The hotel is located adjacent ...

  ABU DHABI / WAM Under the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the Crown Prince’s Court has launched an education initiative to be included in school curricula and courses in the form of a subject entitled, “Moral Education”, in cooperation and ...

  DUABI / EMIRATES BUSINESS Emaar Malls, the shopping malls and retail business majority-owned by global property developer Emaar Properties (DFM: EMAAR), has reported first-half (January to June) 2016 net profit of AED 987 million (US$ 269 million), 17 percent higher than the net profit of AED 845 million (US$ 230 million) during the same period last year. Revenue for ...

  ABU DHABI / WAM Emirates Telecommunications Group Co. (Etisalat Group) reported a consolidated net profit (after federal royalty) of AED 2.3 billion for the second quarter of 2016, a 51 percent year-on-year rise. “The increase in profit is attributed to lower finance costs, incurring forex gain during the period as compared to forex loss in the same period last ...

  DUBAI / Reuters The quality of real estate loans in the United Arab Emirates has continued to improve despite sliding home prices, the International Monetary Fund said, in a sign that the UAE is coping better with a real estate downturn than it did in the last slump seven years ago. The quality of loans to households – a ...

  DUBAI / WAM As part of its pioneering role in energy, environment and district cooling, Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, will participate in the Water, Energy, Technology, and Environment Exhibition (WETEX 2016). To be organised by DEWA under the directives of Vice President and Prime Minister of and Ruler of Dubai, ...

  Dubai / Emirates Business Dubai Islamic Bank (DIB), the first Islamic bank in the world and the largest Islamic bank in the UAE by total assets, on Wednesday announced its 1st half results for the period ended June 30, 2016. Figures released on Wednesday show that Group net profit increased to AED 2,004 million, up 11% compared with AED ...