Business News

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Air Arabia reported a 30 per cent jump in year-on-year profit, to record AED 662 million for 2017. Revenue at the low-cost carrier was flat, indicating that the increase in profit was down to greater efficiencies. Air Arabia’s profit margin was 17 per cent – way ahead of the industry average of less than 5 […]

Emirates signed a contract for 20 additional A380 aircrafts and 16 options, firming up the MoU that was announced in January. The total agreement for 36 aircraft is valued at US$16 billion based on latest list prices. The deal, which consists of 20 double-deckers with an option for 16 more, is valued at more than […]

Rental yields are continuing to be consistent and healthy across the UAE, despite the continued fall in prices across most communities. That’s according to a new report from Propertyfinder Group, which found no more than a percentage point change in most areas in Q2 and Q3 of 2017. Villa rentals in The Springs command a […]

Oman has imposed a temporary ban on hiring expats for 87 private sector jobs. The six-month ban will include industries like media, information technology, marketing, insurance and aviation. According to local media reports, the ban came into effect following the issuance of ministerial decree 2018/38, which was issued by the Ministry of Manpower (MoM) on Sunday. […]

Around 707 healthcare projects, worth over AED 223 billion are currently taking shape in the GCC region. That’s according to the research firm BNC Network’s latest report, which shows that 445 of these are hospital projects (worth AED 190.47 billion), while the rest are medical clinics or research centres (worth AED 33 billion). The bulk […]

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