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Dubai Free Zone to Refund $354 Million in Fees to Spur...

(Bloomberg) -- Dubai’s main port and biggest free zone authority plans to return 1.3 billion dirhams ($354 million) in cash and bank guarantees to...
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Damac Sees Profit Sink 94%

(Bloomberg) -- Profit at Dubai-based Damac Properties plummeted in the first quarter as the company grapples with a slowdown in demand for real estate in...
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Dubai Stocks Shift From World’s Worst to Best in 24 Hours

(Bloomberg) -- Investors in Dubai’s equities might be feeling whiplash after the main index went from the day’s worst performer worldwide to the biggest...
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Careem Offers Bus Hailing to Pilgrims

(Bloomberg) -- Careem Networks FZ, the Middle Eastern ride-hailing company recently snatched up by Uber Technologies Inc., is expanding in Saudi Arabia with a...
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Dubai Islamic hires HSBC for Noor Acquisition

(Bloomberg) -- Dubai Islamic Bank PJSC hired HSBC Holdings Plc to advise on its possible acquisition of smaller rival Noor Bank PJSC, according to...
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UAE Investment Banks Arqaam and TNI Are Said to Weigh Merger

(Bloomberg) -- Dubai-based Arqaam Capital Ltd. and Abu Dhabi’s The National Investor are weighing a possible merger, according to people with knowledge of the...
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Abraaj Founder Arif Naqvi Gets Record $20 Million Bail

(Bloomberg) -- Arif Naqvi, the founder of buyout fund Abraaj Group, can be released on conditional bail of 15 million pounds ($20 million) after...
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Beware the Ferrari-Driving Instagram FX-Trader

(Bloomberg) -- A short video clip on the Molly Ramm Instagram account shows a young woman cruising down a sunbathed Dubai highway in a...
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Gulf Bank Mergers: Who’s Talking to Whom?

(Bloomberg) -- If you’re struggling to keep up with the pace of bank consolidation in the Gulf, here’s an overview of which lenders are in...
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Dubai Slams Boeing Over Its Handling of 737 Max Grounding

(Bloomberg) -- Boeing Co. was lambasted by the most powerful figure in Dubai aviation for failing to keep airlines updated on the grounding of...
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