Dubai Informer

Abu Dhabi National Oil Company (ADNOC Distribution) has denied reports published in local newspapers regarding a new increase in gasoline prices assuring that no official of the company has spoken on the issue. ADNOC, in a statement today, said that this is completely false news and that it is essential to investigate the accuracy of [...]

Dubai Financial Market (DFM) announced today that its listed local public joint stock companies have recorded a 100% compliance regarding the disclosure of Q2-2010 results within the deadline of 45 days from the end of the period. The total number of UAE public joint stock companies listed at DFM which disclosed their second quarter results [...]

Damas International Limited (Damas), announced today its financial results for the 12 months ending March 31, 2010, demonstrating the strength of its core operations despite challenging conditions facing the gold and jewelery sector worldwide. For the 12 months ending March 31, 2010, Damas reported a net profit of AED 9.7 million before considering the impact [...]

The value of equities traded on NASDAQ Dubai rose by 52 per cent in the first six months of 2010 to 728 million dollars, from 479 million dollars in the same period of 2009. Equities volumes fell by 10 per cent to 1.58 billion shares in the same period, from 1.75 billion. Measured by percentage [...]

Dubai World has been held responsible for the collapse of Dubai’s finances for a long time. Now Dubai World warned that lenders, aside from the government’s own support fund, would face a “significantly” worse deal if its debt restructuring plan fails and it is forced to seek liquidation, according to the debt restructuring plan outlined [...]

The statistics produced by Dubai Customs last May showed a growth of 16% in non-oil trade between Dubai and outside world amounting AED 228.2 billion during the first 5 months of the current year as compared to AED 197 billion in the same period last year. The data issued by the Statistics department at Dubai [...]

The UAE came 19th on the world’s list of exports in 2009 with exports totaling Dh664 billion, according to a report by the World Trade Organization (WTO). The UAE’s global ranking according to the WTO has advanced to the 19th place in 2009 on the list of the most important countries in commodity exports, moving [...]

Dubai Electricity and Water Authority (Dewa) stated that it has signed Dh522.5 million worth of contracts with suppliers for system upgrades and maintenance. The investment is in step with Dewa’s plans to upgrade and overhaul its capabilities in efforts to meet growing utilities demand, it said in a statement. Contracts signed with different suppliers aimed [...]

The Dubai Electricity and Water Authority (Dewa) mystery shopper survey recorded an increase of 91 per cent in the quality of services and transactions offered to the public last May in comparison with April, while the efficiency and speed of transactions increased by 84 per cent. The employee behavior and customers’ interaction showed an increase [...]

All systems are go for trading of Nasdaq Dubai’s listed equity stocks on the Dubai Financial Market platform with the Dubai Financial Services Authority (DFSA) giving its final approval. Clearing, settlement and custody functions for Nasdaq Dubai equities will also migrate to the DFM’s systems. Under the outsourcing, Nasdaq Dubai’s equities will remain listed on [...]

The UAE Telecommunications Regulatory Authority (TRA) has confirmed that both telecom operators in the country, Emirates Telecommunications Corporation (etisalat) and Emirates Integrated Telecommunications Company (du), are technically ready to open their fixed-line networks to competition. Both operators will be able to now provide all fixed-line services, telephone and internet services, and in the near future [...]

After the success of the Camel Burger in Dubai, the UAE is planning to export camel milk after the European Commission (EU) has given its green light to its plan on safety and quality of camel milk, billing it as ‘’good’’ and falls in line with health and food standards applied in the European Union, [...]

Dubai Holding Commercial Operations Group, a real-estate and hospitality company owned by the emirate’s ruler, reported a full-year loss of AED22.8bn ($6.2bn) after property prices plunged in the Gulf’s trade and tourism hub. The loss attributable to the shareholders compares with the year-earlier profit of AED10bn ($2.72bn), Dubai Holding Commercial said in a statement to [...]

The former chief executive of Islamic lender Tamweel and three other officials were handed jail terms by the Dubai criminal court on Sunday, following a corruption probe aimed at boosting transparency in the Gulf Arab emirate. Adel al-Shirawi, who was dismissed as Tamweel chief executive in 2008, was found guilty of accepting bribes and profiting [...]

The Ministry of Foreign Trade has issued an analytical study on the nature of investment and trade relations between the United Arab Emirates and the Federal Republic of Germany. The study examined the current opportunities that are available to develop these relations in light of the advances both countries are witnessing in various sectors. The [...]

Emirates Integrated Telecommunications Company, known as du, on Tuesday announced that net profit before royalty for the first quarter of 2010 had more than quadrupled, compared to the same period last year. The country’s second telecom operator said profit was AED 194m versus AED 47m in Q1 2009. Compared to the previous quarter, net profit [...]

Dubai Financial Market announced today that the value of shares bought by foreign investors, or non-UAE nationals, during last week (2 – 6 May) reached Dhs475.3m comprising 40.5% of the total value of stocks traded during the period. The value of stocks sold by foreign investors during the same period reached Dhs496.9m comprising 42.4% of [...]

An analysis study conducted by the Ministry of Foreign Trade in the United Arab Emirates has revealed that the UAE is the second, globally, after Uganda in the re-export of Sugar Cane with an overall quantity of 15.1 Million Tons / Annually according to United Nations statistics from 2008. The study, which was conducted by [...]

Etisalat today announced its condensed consolidated interim financial results for the first quarter of 2010. In its filing, Etisalat announced Net Profits of Dh 1,994 million. Compared to the same period last year, net revenues increased by Dh 379 million (5%) from Dh 7,566 million to Dh 7,945 million. Earnings Per Share in the first [...]

Today the Dubai Government has confirmed that it will pour 9.500.000.000 US$ (yes, that’s 9.5 Billion US$) into Dubai World. This is one part of the Dubai World restructuring plan which will also allow work on Nakheel projects to continue. 8 Billion US$ of this money will be used for Nakheel, only 1.5 Billion US$ [...]