Singapore's manufacturing sector suffered a year-on-year decline of 9.6 per cent in output in November, fresh figures compiled by the Economic Development Board (EDB) revealed.

Excluding biomedical output, manufacturing production slipped 13.5 per cent last month from the corresponding period of last year.

Dubai based Drake & Scull International posted healthy growth beating the forecasts made by analysts. The growth is attributed to diversification and expansion by the firm in regional markets other than the United Arab Emirates
(UAE).

Dubai Investments, in which sovereign fund Investment Corporation of Dubai (ICD)owns an 11.5-percent stake, has announced financial figures for the second quarter, reporting 30 per cent decline in its net profit. The UAE based conglomerate said that it would secure additional financing for expansion of business during the remaining period of current financial year.

The Ministry of Foreign Trade (MoFT) recently released figures related to the automobile segment of the country. Country’s automotive market grew by 19.7 per cent in 2010 to $11.1 billion as compared to $9.2 billion reported during the corresponding period last year.

UAE budget carrier Air Arabia performed well during the second quarter despite challenging period and soaring tickets price regime. The firm reported 2 per cent increase in its Q2 net profit beating the projections of analysts.

The carrier earned a net profit of $13.9 million as compared to 50 million dirhams during the corresponding period last year. Air Arabia’s Q2 revenue rose 22 percent to 592 million dirhams from 485 million dirhams.

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has announced its financial figures for the second quarter of current financial year, reporting an impressive growth of 10 per cent in its net profit that stood at Dh552 million compared to Dh301 million in the same period of 2010.

DIB’s net profit increased by 50 per cent in the second quarter of 2011 if figures are compared quarter-on-quarter basis.

Abu Dhabi's Union National Bank has announced its financial results reporting fall in its full year and fourth quarterly results. UNB Q4 net profit stood at $46m much below the street estimates. The decline is due to sharp rise in provisions for bad loans weighed on Abu Dhabi's Union National Bank.