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ACC wins $1.7bn Reem Island contract |
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 Abu Dhabi property developers Sorouh Real Estate and Tameer Holding Investment have awarded a contract worth Dh6.2 billion ($1.69 billion) to Arabian Construction Co to build a flagship project on Abu Dhabi's Reem Island.
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Emivest rebrands SSAC, eyes aviation sector |
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 Emirates Investment and Development Company (Emivest), the majority shareholder of Sino Swearingen Aircraft Corp (SSAC), has rebranded the US-based firm to Emivest Aerospace Corporation signalling its latest foray into aircraft manufacturing sector.
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Rare ME crystal ewer fetches $5.6m |
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 A 1,000-year-old carved rock crystal ewer, one of only seven known surviving examples, has fetched 3.2 million pounds ($5.6 million) at a London auction, Christie's said.
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Dubai Duty Free sales grow 27pc |
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 Dubai Duty Free sales went up 27 per cent to Dh2.8 billion ($780 million), in the first nine months of 2008 against the same period a year ago, a report said.
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Abu Dhabi Government-owned Tourism Development and Investment Co (TDIC) plans to launch resorts projects worth up to 10 billion dirhams ($2.72 billion) this year and next year.
The Gulf region is likely to see more power shortages and blackouts as regional utilities struggle to deal with fast-rising power demand, Moody's Investor Service said.
Swiss drugmaker Roche said a study showed its top-selling cancer drug MabThera delayed disease progression in patients with relapsed or refractory Chronic Lymphocytic Leukaemia, or CLL.
The Advanced Technology Investment Company (ATIC) of Abu Dhabi is investing $2.1 billion in a new company formed by the California-based Advanced Micro Devices (AMD) and ATIC.
Government-owned Dubai Properties said on Tuesday it plans to almost double its projects portfolio to over Dh1 trillion ($272.3 billion) and could announce a development in the Indian subcontinent this year.
Bank Muscat, Oman's largest lender, posted a 44.3 percent increase in third-quarter net profit on Wednesday to RO32.3 million ($83.88 million).
The UAE capital's housing woes are expected to ease in three to four years as projects are completed to supply new housing units, a top Abu Dhabi government official said.