Sisters Beauty Lounge has opened its second branch it the UAE’s capital, bringing its total number to six
Author Archives: Staff Writer
UK to expand Bahrain military presence
Contract awarded for $9.7m expansion of Royal Navy’s Middle East HQ
Saudi intensifies corruption crackdown
More than 400 cases of negligence relating to vital projects forwarded to higher authorities
Kuwait to scrap controversial sponsor system
Responsibility for recruiting foreign workers will be given to new gov’t body in bid to reduce visa fraud
Work on Saudi’s 1km Kingdom Tower to start April
Jeddah tower will eclipse Dubai’s Burj Khalifa as world’s tallest building when complete
Chinawhite founders hit back in spat over Dubai launch
Tit-for-tat over opening of iconic London club in Dubai takes new turn with founders backing move
Gold rebounds from near six-week low
Gold bounced on Wednesday from weakest level since mid-February
Brent rises above $107 on supply concerns, strong US data
Promising data from top consumer United States also supported prices
Ten days added to UAE school calendar
Ministry of Education says cutting Christmas break to two weeks will bring UAE in line with international standards
Bahrain protests
Policemen injured by bomb on Bahrain highway
Bahrain has experienced unrest over past three years by majority Shi’ite Muslims
Kuwait to let foreign banks open more branches
Analysts doubt many banks will take advantage of offer unless government accelerates investment projects
Facebook to buy virtual reality goggles maker for $2bn
Acquisition comes hot on the heels of $19 billion deal for messaging service WhatsApp
Qatar dismisses Iraqi charges that Doha funds ‘terrorism’
Qatar’s Emir Sheikh Tamim bin Hamad al-Thani reacts to accusations from Iraqi PM
Nakheel reveals plans for two more malls in Dubai
Developer says malls at Jumeirah Village Triangle and Circle will offer total of 1.5 million sq ft of retail space
UAE’s Mubadala, France’s CDC launch $413m investment fund
New vehicle will invest in a wide range of sectors in France; will mainly target equity stakes in private companies
Aviation
Air Arabia to use tried and tested model in Ras Al Khaimah
Air Arabia signed an agreement last month to become the official carrier for Ras Al Khaimah. Group CEO Adel Ali reveals that airlines’ existing high tourism routes will probably be targeted
Reach for the stars
Marriott International has just opened the tallest hotel in the western hemisphere and the first double decker hotel in the US. It’s also the model for a roll-out of dual pack Courtyard and Residence Inn hotels and an example of how strong brands can be flexible when it comes to art and design. Marriott International president and CEO Arne Sorenson and the hotel owner, Harry Gross of G Holdings, reveal why this New York City skyscraper is such a special addition to their portfolios
Bahrain’s Batelco plans bonds buy-back in 2020
State-run telco says it will use excess liquidity from scrapped acquisition to lower debt servicing costs
Saudi Hanco consortium buys rental firm Byrne
Saudi, Bahrain firms ink $163m agreement to buy equipment leasing company
Egypt crisis
UN says mass Egyptian death sentences contravene international law
United Nations voices concern over sentences handed down to 529 member of Muslim Brotherhood
Obama aims to soothe Saudi fears with Riyadh visit
US President set to visit Gulf kingdom on Friday, months after top Saudis objected to Middle East policy
Etihad gets final nod to seal Air Serbia stake deal
Abu Dhabi airline says it has now received gov’t and regulatory approvals for agreement
British ‘It’ girl Alexa Chung in Fashion Forward line-up
TV presenter and former model will take part in a Q&A session during season 3 of Dubai fashion event
Deutsche Bahn joins Etihad Rail in UAE railway JV
Etihad Rail DB will manage operations for the first stage of the planned $11bn railway project
Dubai Int’l records 11.7% passenger growth in February
Double-digit passenger traffic growth continues for the seventh consecutive month at Dubai aviation hub
Kuwait’s Emir calls on Arab states to end rifts
Sheikh Sabah makes plea at start of summit in Kuwait as Gulf states fall out over foreign policy issues
Qatari regulator censures RBS over training standards
Qatar Financial Centre Regulatory Authority reprimands banking giant over ‘training and competency’ standards
Hotel giant IHG plans luxury project in Muscat
InterContinental Hotels Group says work on new project will be completed by the end of 2016
Italian tycoon says to appeal Leeds Utd deal decision
Gulf-owned English football club in limbo after Football League blocks Massimo Cellino in bid to buy majority stake
Millennium & Copthorne plans to triple Middle East hotels
UK-based international hotelier says it will increase Middle East portfolio to 50 by 2017, including entering Saudi Arabia
First Gulf Bank prices debut A$250m Kangaroo bond
This is only the fourth Kangaroo bond from a Middle Eastern bank, and follows new issue from National Bank of Abu Dhabi
Qatar well-placed to meet Asian LNG demand, says RasGas CEO
Energy firm chief says confident it can continue to deliver reliable supplies to meet growing needs of Asia
Saudi won’t give my children citizenship, says Shoura Council member
Thuraya Obaid reportedly criticises Gulf kingdom for snub because she is married to a foreigner
Islamic law enshrined in UK legal system
Guidance on writing Shariah-compliant wills denies women equal share of inheritance
Saudi developer launches sales unit
Cayan Group is best known as the developer behind Dubai Marina’s ‘twisted’ Cayan Tower
PineBridge buys 50% of Turkish rehab chain
MidEast unit of New York investment manager buys up stake in Romatem
North America pushes Abu Dhabi’s TAQA into 2013 loss
Energy giant suffered non-cash impairment related to value of its oil and gas holdings
Dubai Financial Market
Dubai bourse seen steady after Monday drop
Traders confident previous day’s pull-back will not be beginning of more sustained correction
Deadly Qatar explosion caused by pizza oven
Gas leak led to explosion in Turkish restaurant in Doha that killed 11 people
Gold off one-month low, but US rate hike fears cap gains
Some gold investors have turned bearish after comments last week from Janet Yellen
Brent slips toward $106.50 on soft US, China manufacturing
Surveys showed manufacturing activity in the United States slowed in March
One dead, another missing after ship fire off Sharjah
Three remaining crewmen also suffered serious burns after cargo ship caught fire and sank
Saudi MERS death toll climbs to 64
Ministry of Health confirms 86-year old man died from the virus, which originated in the kingdom
Branson confirms cruise liner plans
Virgin Atlantic founder Richard Branson seeking investors for $1.7bn project
UAE’s Etihad to sponsor US soccer league
Abu Dhabi carrier is currently the primary sponsor of England’s Manchester City
Gulf owners upset after Leeds Utd stake sale is blocked
GFH Capital voices disappointment after deal with Italian businessman is stopped by the Football League
UAE set to approve new companies law soon
Economy Minister says UAE President will ratify law which aims to improve transparency
Saudi Arabia approves new fund to invest in manufacturing
Move is part of Gulf kingdom’s efforts to diversify its economy away from oil dependency
Dubai PE firm expects to close $270m deals in 2014
Ithmar Capital currently has portfolio of six companies including Abu Dhabi’s Al Noor Hospitals
Dubai unveils vision to become No 1 medical tourism choice
Health chiefs outline strategy to 2020; to target $707m revenues from Russian, South Asian and GCC clients
UAE launches research hub to aid economic growth, jobs
The Centre for Economic Growth is collaboration between private sector and business school INSEAD
Qatar awards road contracts worth $1.16bn
Joint venture QDVC-Bin Omran secures deals to design and build roads by Qatar’s public works authority
First Gulf Bank names bankers for debut Kangaroo bond
Abu Dhabi bank mandates ANZ, HSBC and Nomura for first move into Aussie dollar market
Saudi Arabia bans popular Islamic cartoon The 99
Kingdom issues ban on cartoon, based on the 99 attributes of Allah, which has had success in more than 20 countries