Emirates' Finance Chief exclaimed this Saturday exclaimed that Dubai will be able to recover from the latest troubles easily. He added that much restructuring will not required. His statement came in the wake of a request being sent to him for extending the repayment of the debts by an inv4estemrn company.

The UAE Oil Ministry is unlikely to trigger a meeting before October, of the Organization of Petroleum Exporting Countries (OPEC), because the oil market is going through a “correction” of prices. It has been spotted that the oil souk is now “well supplied” and that the costs are being set by the “market force”.

After Emaar Properties posted a triple increase in quarterly profit, it helped Dubai’s share indices to close at the highest level in the last week. The company has the maximum weightage in the share market. The index was further boosted by rising oil prices which moved to $ 85 per barrel.

Emaar’s shares gained the maximum in the last two weeks. Dubai Islamic Bank PJSC, which is the region’s biggest Islamic lender increased by 3.1%. 

An official revealed that hundreds of millions of dirhams in subsidies would be saved by the United Arab Emirates, if gasoline prices matched international markets. UAE state news agency WAM announced that the UAE's state-run fuel retailers plan to increase gasoline prices by 11% this week.

Saudi Basic Industries Corp. is revealed to be in hopes that its Sharq, Yansab and Tianjin plants may pose a positive impact on the petrochemical manufacturer as of the second quarter of this year, its chief executive revealed on Sunday.

In addition, he posted that the expansion of Ibn Rushd would begin with the production in the 2012-2013, he told a news conference.

Today, a senior health official disclosed that the UAE has witnessed an increase by 10 per cent in 2009 over 2008 in the Pharmaceutical and medicine manufacturing plants increased.

A five-day visit to the Emirates was recently completed by an International Labour Organization (ILO) expert team. The visit aimed at evaluating the Wage Protection System and look into its suitability as an international model.