Emirates Group records Dh2.31b net profit

Despite fundamental challenges, company garnered revenue of Dh67.4b, up 17.8% from previous year

India moves to steady rupee as trade gap falls

Mumbai India's central bank moved to boost dollar supply, stepping up the fight to steady the rupee as the nation's trade deficit narrowed for a third month after higher duties curbed gold imports.

Aldar projects remain on track

Abu Dhabi: Al Muneera and Al Zeina, two beachfront residential developments at Al Raha Beach which are owned and managed by Aldar Properties, will be fully ready for handover to owners and tenants by the end of the second quarter, said Mohammad Al Za'abi, the company's director of estates, during a media tour of the properties in Abu Dhabi yesterday.

BMW recalls nearly 6,900 cars in UAE

Dubai: BMW is recalling nearly 6,900 5- and 6-Series cars in the UAE manufactured between 2003 and 2010 to correct a defect with the battery cable cover located in the trunk.

CME to push for more DME users

Dubai: The CME Group said yesterday that it will employ its expertise and resources to gain increased regional producer participation in the Dubai Mercantile Exchange, the premier international futures and commodities exchange in the region.

India rupee rises on hope of fund flows

Mumbai: India's rupee strengthened the most in two months after the Federal Reserve signalled it will keep US borrowing costs near zero, boosting demand for higher- yielding assets.

Dubai recovery softens regional blow

Dubai: Political unrest in Syria, Egypt and Bahrain affected business for developer Majid Al-Futtaim (MAF) in 2011, but positive results in Dubai helped soften the blow, the firm's chief executive said yesterday.

Flydubai denies it will take passengers at Dubai World Central early 2013

Dubai Flydubai and civil aviation officials have denied reports that the low-cost carrier will begin passenger operations through Dubai World Central airport by 2013.

Aldar and Sorouh in merger talks

Dubai: Abu Dhabi's two major property developers Aldar Properties and Sorouh Real Estate said they have started talks on a possible merger which could create a new entity with Dh13.61 billion in assets based on the net value of their combined assets as of December 31, 2011.

China remains the main mover for oil outlook

Dubai: China's thirst for crude is set to continue to dominate the global oil market in the face of waning European and US demand, a news agency editor said yesterday.

Richard Mably, editor of Commodities and Energy at Reuters, said that there had been virtually no growth in markets such as the EU and US and that all eyes were on China, the Middle East and India for growth this year.