RAK National Bank Posts Profit Growth
Despite current market conditions, The National Bank of Ras Al Khaimah reported that their first-quarter profits advanced 13 per cent. The net profit rose to Dh160.37m (US$43m), or 17 fils a share, from Dh142m in the first quarter of 2008.
Operating income for the bank, also known as RAK Bank, rose 21 per cent to Dh366m.
“Despite [...]
Dubai Ruler confirms economy is firm
Dubai's ruler says the emirate's economic foundation is firm and is dismissing suggestions that the city-state is faltering because of the global meltdown.
Sheik Mohammed bin Rashid Al Maktoum made the comments during an online exchange with local and international Arab news outlets. The online question-and-answer session, posted over the weekend, was Sheik Mohammed's first such [...]
Dubai tourism defies global financial crisis
April 22nd 2009
Gulf emirate’s tourism rose by 8.3 percent in 2008 despite global economic fallout.
DUBAI – Dubai tourism grew by eight percent last year despite the global financial crisis, the glitzy city-state's tourism department said on Monday.
It said the number of tourists rose to 7.5 million in 2008, compared with 6.95 million in [...]
Rakeen completes reclamation of USD 1 billion Al Marjan Island development in
Yesterday, 6th April, Rakeen, one of Ras Al Khaimah’s most dynamic property developers and master planners, and the real estate development arm of the Ras Al Khaimah Government, announced that it has recently completed reclamation work of the USD 1 billion Al Marjan Island, the first man-made island in the emirate of Ras Al Khaimah [...]
BA unveiled ’09 schedule, with 35% increase to Middle East routes
April 3rd 2009
British Airways' biggest-ever regional summer schedule comes at a time when several leading regional and global carriers have reduced seasonal schedules to combat the current economic downturn. However, the airlines commercial manager of the Middle East, Paolo De Renzis said the region was vital in its long term strategy growth.
Running from 29th [...]