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| A comprehensive guide
to current and future events and exhibitions in the UAE |
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Valuable concise reference source on the UAE,
covering political system, economy, business, history and heritage,
education, women, healthcare, tourism and environment. |
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Natural history of the UAE,
covering all animals and plants recorded in the Emirates. |
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Report by National US Arab Chamber of Commerce on the UAE. Vol XV, No 3, June 2007. Includes analysis of UAE economy. |
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THE ECONOMY - BUSINESS
 2008 milestone year for Dubai Duty Free as it crosses US$1b sales mark
Posted on 06/01/2009
Award winning Dubai Duty Free (DDF) has set a new retailing benchmark, when it announced a record annual sales of Dh 3.950 million (US$1.1 billion), representing 23 per cent increase over 2007.
In addition to remarkable sales, 2008 provided DDF with major milestones in terms of growth and expansion. In the summer, the operation opened its purpose-built Head Office and Distribution Centre in Ramoul, which provides 6,000 square metres of office space and 27,000 square metres of warehousing.
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 First Gulf Bank inks US$323m finance deal with Mubadala
Posted on 05/01/2009
First Gulf bank (FGB) has signed along with five other leading regional and international banks a US$323m syndicated loan with Mubadala Development Company (Mubadala).
The twenty year loan will be used to finance the new campus of Paris Sorbonne University Abu Dhabi.
FGB will act as the mandated lead arranger providing 25% of the total project value, as well as the Onshore Security Agent and the Onshore Accounts Bank.
'His Highness Sheikh Khalifa Bin Zayed Al Nahyan, the UAE President and
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 IPO possible, but not soon: Nakheel
Posted on 05/01/2009
UAE's leading property developer, Nakheel said on Sunday that a reported US$15 billion public issue was one of the options to raise capital, but may not be imminent.
The state owned developer of Dubai's Palm Islands was responding to a report in London's Sunday Telegraph, which stated that the company was considering a dual listing on Nasdaq Dubai and in London.
"Nakheel is constantly looking at capital raising opportunities and an Initial Public Offering (IPO) is one such option, but this
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![]() Moody's UAE ratings top despite weak oil
Posted on 31/12/2008
International credit ratings agency Moody's yesterday assigned its top sovereign rating for the UAE despite the recent steep decline in international oil prices.
The rating agency has retained long-term foreign and local currency issuer ratings of the UAE federal government at Aa2 with a stable outlook in its latest annual credit report.
"Our determination of government bond ratings reflects four primary rating factors: economic strength, institutional strength, government financial
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![]() KFSME provided Dh246m fund to 154 projects in 08
Posted on 30/12/2008
The Khalifa Fund to Support and Develop Small '&' Medium Enterprises (KFSME) has granted a total of Dh 246 million in funds for 154 projects during the year 2008.
A report released by the Fund yesterday said that the year 2008 saw a gesture by General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces, who issued directives to raise the Fund's capital from Dh 300 million to Dh 1 billion.
After its inception in June 2007, the KFSME
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 ADMA OPCO awards US$21m contract to Metito
Posted on 30/12/2008
Abu Dhabi Marine Operating Company (ADMA OPCO) yesterday said it has awarded an engineering, procurement and construction (EPC) contract on Das Island worth US$21 million to Metito. Das Island is the centre of the UAE's offshore oil industry, lying in the heart of the Arabian Gulf, approximately 140 km north-west of Abu Dhabi.
The island serves as the export terminal for ADMA OPCO's oil from their offshore fields and for liquefied natural gas produced by the Abu Dhabi Gas Liquefaction Company
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![]() UAE's facilities management sector value expected to cross US$ 10 billion by 2012
Posted on 25/12/2008
Sungwon OBO, a member of Makateb Holding, the first Office Building Operator Company in the world, has announced that it continues to generate strong business leads as the facilities management (FM) industry in the UAE remains upbeat with a projected value exceeding US$10 billion by 2012 despite the current global financial crisis.
Leveraging the healthy growth prospects, Sungwon OBO announced that it aims to achieve a growth of between 15% to 20% within the next 3 years, pointing out that
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 Tariq Al Qasimi discusses business cooperation with Texas Governor
Posted on 25/12/2008
On a visit to Texas, Sheikh Tariq Bin Faisal Al Qasimi, Chairman of Emirates Investments Group (EIG), has received a certificate of appreciation from Andy Wambsganss, Mayor of Southlake, Texas, in recognition of his outstanding business contribution on the international level.
A meeting was also held between Texas Governor Rick Perry and Sheikh Tariq Bin Faisal Al Qasimi, during which they discussed existing investment opportunities in the state and the potential for bilateral cooperation.
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 Mubadala, ADEC completes PPP project
Posted on 24/12/2008
Mubadala Development Company and the Abu Dhabi Education Council (ADEC) announced that they have completed the non-recourse financing of the Paris-Sorbonne University Abu Dhabi public-private partnership (PPP) project.
A syndicate of international and regional banks is providing US$323 million debt package with 20-year tenure to this PPP project.
The transaction successfully closed oversubscribed through mandated lead arrangers First Gulf Bank, Bank of Tokyo-Mitsubishi, BNP Paribas, Calyon,
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 Aldar’s war chest to see it through
Posted on 24/12/2008
With access to a Dh30bn (US$8.1bn) war chest, Abu Dhabi's Aldar Properties said it is committed to delivering key projects over the next few years, even as it reviews future developments with an eye toward market conditions.
Construction is progressing on projects including Yas Island, where the Formula 1 racetrack is expected to be ready in time for the Abu Dhabi Grand Prix next November.
Several commercial towers will completed over the next two to four years, including at least three on
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 Ducab customers to benefit from lower prices in 2009
Posted on 24/12/2008
Customers who place new orders for their projects will benefit from lowered prices in 2009, said a senior official at Ducab.
"Though copper prices have gone down, we have to manage prices on the way down as we did when they went up. But these prices will translate into cheaper cable prices. So for people who are still building, they will get new prices when they place new orders," said Andrew Shaw, Managing Director at Ducab.
A private limited cable manufacturing company, Ducab is jointly
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 UAE economy remains sound: VP
Posted on 16/12/2008
The UAE economy has been and is still sound and the government and other competent authorities are handling the fall out of the global financial crisis with patience and wisdom, Vice President and Prime Minister of the UAE and Ruler of Dubai H. H. Sheikh Mohammed bin Rashid Al Maktoum affirmed yesterday.
Sheikh Mohammed considered during talks with visiting Chairman of the US Senate Finance Committee Senator Max Baucus the world financial order as 'integral' and 'one spirit in one body'.
He
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 UAE has no liquidity problems, says Al Suweidi
Posted on 16/12/2008
The UAE has no liquidity problems, said Sultan bin Nasser Al Suweidi, Governor of the UAE Central Bank.
The UAE Central Bank chief attributed the current global credit crisis to high inter-banks lending rates.
Al Suweidi predicted a slight decline in UAE's economic growth as compared to high growth rates in the previous years.
"The impact of the current global financial crisis will be felt severely next year across the globe", Al Suweidi told reporters here today.
Al Suweidi said that the
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![]() Dubai gets US$8b finance from Citi
Posted on 15/12/2008
Citigroup Incorporated has arranged more than US$8 billion (Dh29.3 billion) finance for various Dubai government entities in recent months, the global banking group said.
"This is in line with our commitment to the UAE market in general, and reflects our positive outlook on Dubai in particular," said Citi's chairman, Sir Win Bischoff in a statement.
Officials familiar with Citi's recent deals with Dubai entities said the amount is an aggregate of about half a dozen deals Citi did with
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![]() UAE is Japan's second largest crude supplier
Posted on 01/12/2008
Japan's imports of UAE crude oil reached 26.6 million barrels during last October, representing 22.4 percent of the country's total imports of crude oil.
According to a statistical report released by Japanese Ministry of Economy, Trade '&' industry, Saudi Arabia emerged as Japan's largest crude supplier during October with 38 million barrels, followed by the UAE, Iran, Qatar and Kuwait respectively.
The report said that Japan's crude imports dropped during that month to 118.9 million barrels,
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