The United Arab Emirates (UAE) has the world’s slowest mobile download speed and its neighbour, Saudi Arabia, is not much better, coming in a close second-to last, according to research carried out by the internet search giant Google.

The emirates have an average speed of 26.7 seconds, with Saudi Arabia offering a mere 21.2 seconds, making the two Gulf nations the world’s ninth and 10th slowest, and barely comparing to the next slowest, Thailand with 17.4 seconds.

Al Yah Satellite Communications Company PrJSC, “Yahsat”, has announced the successful launch of its second satellite Y1B. The launch took place at the Baikonur Cosmodrome, Kazakhstan on April 24th, 2012, at 2:18 am Abu Dhabi time.

TransAD officials announced the tazi fare changes earlier this month, setting higher starting fees and per-kilometre rates. They also announced a decrease in the fee for booking a taxi through the call centre, from Dh5 to Dh3 during the day and Dh4 at night.
“We are encouraging the public to always reserve taxis,” said Mohamed Hussain Al Hosani, TransAD’s director of franchise and licensing. “We’re trying to decrease taxis just roaming in the streets without business.”

Al Jazira lifted the President's Cup for the second successive season last night — but unlike last year's easy win they had to sweat it out before posting a 3-1 victory over Bani Yas.

After playing second fiddle for much of the first half, it was their Brazilian star Ricardo Oliveira who gave them a crucial 2-1 lead at a time when Bani Yas were pressing hard. Oliviera's low free-kick pierced the defensive wall and found the near corner. That 71st-minute strike settled the nerves for Caio Junior's side before Ahmad Dada blasted home a third in the final minute.

In line with its continuing growth and rise in profits, First Gulf Bank PJSC, (FGB), the leading financial partner of choice in the UAE, today announced that it has witnessed yet another successful quarter for the period of Q1 2012. The bank stated that it recorded a Net Profit of AED 935 million, a 7% increase compared to the same period in 2011.

FGB’s strong business fundamentals and sound policies are the key drivers behind generating consistent positive results. The bank’s core strategy continues to focus mainly on efficiently managing the balance sheet, on applying wise risk standards and on maintaining strong marketing momentum while enhancing simultaneously operations in all divisions locally and overseas.

Aabar Investments PJSC, which dropped a $1.74 billion offer for Arabtec (ARTC) Holding PJSC two years ago, awarded a 222 million-dirham contract ($60 million) to a unit of the Dubai builder as it raises its stake in the company.

Arabtec Construction LLC won the contract to build a residential tower in Abu Dhabi, Arabtec said in a statement to the Dubai bourse today. “With the recent award to the company in Dubai and others expected in Dubai and Abu Dhabi, the United Arab Emirates’ is still an important market for the company,” Arabtec Construction Chief Executive Officer Greg Christofides said in the statement.

The Abu Dhabi Municipality is renaming Sowwah Island as Al Maryah Island.

Al Maryah Island occupies a unique location in the midway between the current business area of Abu Dhabi, and the forthcoming futuristic projects at Al Reem Island, Mina Zayed and the new cultural district at Saadiyat Island. The step aims to showcase the economic & urban importance of the area in keeping with its geographical location and historical background.

The renaming of the Island comes in the context of the continued attention to embed the true heritage values and cement the pillars of the public legacy, besides culminating the areas with deeply rooted historical values along the UAE. It also echoes the efforts made to revive the districts and regions to measure up to the sweeping development drive seen by Abu Dhabi City in all walks of social, economic and urban life.