The UAE government on Thursday announced the launch of the Middle East Forum for Small and Medium Enterprises (MEFSME). This launch came in the wake of a directive by His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

Inflation in Saudi Arabia is expected to touch a four-year high in 2012 with high rents driving the general price index upwards.

The latest survey conducted by the Dubai Department of Economic Development (DED) revealed that businesses across Dubai continue to be positive about growth and revenues in the second quarter, with a majority of employers intending to retain their employees.

UAE banks are currently the strongest financial institutions among the Gulf oil producers in terms of capital adequacy.

Developer Sorouh Real Estate said yesterday that they were working on an evaluation process for a potential merger with Aldar Properties.

Tamouh, developer of Abu Dhabi’s Reem Island, expects to deliver its City of Lights project comprising 13 buildings including one commercial tower by 2014.

A Western study showed that Dubai is steadfastly moving towards a complete recovery and is expected to lead real growth in the UAE economy in 2013.

Dubai is ready to launch a dual-tranche sukuk, or Islamic bond, to raise at least $1 billion, the issue arrangers said on Tuesday.

The Abu Dhabi Municipality declared that the total real estate transactions, including mortgage and sales, touched Dh43 billion in 2011, increasing 5 per cent from the previous year.

Top officials at Nakheel said on Thursday that the developer had plans to spend at least Dh1 billion on retail projects over the next few years.