DUBAI / Emirates Business Emaar Development PJSC, the UAE build-to-sell property development business majority-owned by Emaar Properties PJSC recorded a growth in net profit during full-year (January to December) 2017 by 30 percent to AED2.74 billion ($747 million), compared to the net profit of AED2.11 billion ($575 million) in year 2016. Total revenue for FY 2017 was AED 8.86 billion ...

DUBAI / Reuters Banks in the United Arab Emirates are hopeful of recovering some funds in 2018 from the multibillion-dollar collapse of Saudi Arabia’s Saad Group and Ahmad Hamad al-Gosaibi & Bros Co (AHAB) nearly a decade ago, a senior banking official told Reuters. The two conglomerates defaulted in 2009 in Saudi Arabia’s biggest financial meltdown, leaving international and regional ...

DUBAI / WAM Hussain Nasser Lootah, Director-General of Dubai Municipality has announced that the municipality will launch a satellite aimed at collecting data and is capable of monitoring the UAE from space. He made the announcement while speaking at the opening session of the second day of World Government Summit. Lootah said the satellite will be capable of determining different ...