Sprinter beats Asafa Powell in 9.87 secs in showpiece event at Diamond League meeting
Author Archives: Staff Writer
Eyecare firm launches gold contact lenses in MidEast
South Korea’s InnoVision says it sees strong demand in region for new gold eye products
Rothschild to cut MidEast staff by more than half
Sources say financial advisory firm to make cuts in face of dwindling deal volumes
Etisalat’s Nigeria unit fined more than $2m
Subsidiary operator penalised for failing to meet minimum service standards in African country
Bahrain protests
US to resume some military sales to Bahrain
State Department says it is still concerned about ‘unresolved human rights issues’
Barclays eyes 25% MidEast revenue growth
Britain’s second largest bank also plans to hire about 100 people in the region
Pirates hijack oil tanker off Oman coast
Owners lose contact with Greek-owned tanker carrying 135,000 MT of oil on Thursday
Qatar’s SWF takes stake in Royal Dutch Shell
Shell confirms investment; welcomes Qatar Investment Authority as major shareholder
Abu Dhabi’s ADNH sees Q1 net profits fall
Abu Dhabi National Hotels posts $17.9m net profit, down from $22.6m in Q1 2011
Real Estate
Prime Dubai office rents remain stable in Q1
Knight Frank says supply of commercial property continues to exceed demand in city
Saudi Arabia keen on African farm investments
Gulf kingdom urges companies to invest as it seeks to secure supplies of food imports
Oil prices likely to stay high, says IEA
International Energy Agency says global geopolitical risks will maintain lofty price
Facebook IPO already oversubscribed – source
Institutional investors indicate demand for more shares than Facebook has available
Qatar’s QNB said to seek $1.85bn loan refinancing
Qatar National Bank, the Gulf state’s largest bank, in talks with banks, say sources
Moody’s upbeat on Oman banking sector
New report says banking system remains stable; expects Oman economy to grow by 5%
Qatar eyes new bid for athletics championship
Officials said to be mulling options to host 2019 edition after failed bid last year for 2017 event
Gold heads for worst weekly fall since March
Investors fail to shake off worries about Europe’s debt crisis, impact on global growth
Brent crude slips below $112 amid Euro deadlock
Renewed worries about fate of debt-laden euro zone clouds outlook for global oil demand
Ramadan month seen starting on July 21
UAE astronomer makes fasting month prediction; says Eid Al Fitr set to fall on Aug 19
Ex-Kuwaiti PM cleared in graft probe – lawyer
Sheikh Nasser al-Mohammad al-Sabah exonerated on all charges, says law firm
Aviation
India’s Jet Airways to expand Dubai services
Extra flight added to Dubai-Mumbai route as it looks to strengthen Indo-Gulf presence
Sky News Arabia inks EPL football TV deal
New MidEast news channel signs agreement to show highlights of English Premier League
Aviation
Emirates urges Boeing to move fast on new 777
Dubai’s flagship airline says it is ‘little bit exasperated’ by time taken on aircraft upgrade
Egypt gets US$1bn from Saudis; clearing IMF hurdle
Egypt has asked the IMF and other donors for loans to help it plug a balance of payments deficit
Qtel eyes US$1bn commercial paper programme – sources
Operator issues proposal last month to explore options concerning possible programme
Arab TV talk shows need to be “ethical”
Panels at a media forum hit back at the growth of verbal abuse and violence
In UAE, horses are big business as well as passion
As the oil-rich Gulf economies boom, the hobbies of its wealthy local populations tend to become big business
Qatar picks five banks for sovereign sukuk – sources
Qatar sent a request for proposals to banks in April, the sources said
Oman OIB holders approve exiting India, Pakistan
Shareholders approve closure or sale of businesses in Subcontinent
Top business leaders to headline Arabian Business Forum
Sixth Arabian Business Forum to focus on how Arab companies compete globally
Clinton pushes Bahrain Crown Prince on human rights
US Secretary of State met with Bahraini royal to discuss Arab Spring reforms
Dubai hovers at three-month low; Qatar down
Dubai’s index eases 0.1 percent to 1,524 points, trimming year-to-date gains to 12.8 percent
Kuwaiti lawmakers mull female judge ban
MPs propose bill that would exclude women from becoming judges, prosecutors
GCC states mull 50% tax on soft drinks, cigarettes
Health minister propose levy in order to control consumption, reports say
Volkswagen drives 72% MidEast sales rise
Europe’s second largest car maker sold 2,894 cars in the Middle East in Q1
Aus firms eye wedge of MidEast dairy market – minister
Minister says dairy producers are leading country’s trade push into the region
Oman Royal Cavalry to perform for UK queen’s jubilee
Gulf state’s cavalry will join 800 performers from around the world for royal event
Emirates profit slumps 72% as fuel bill surges
Profits sag despite revenue at Arab world’s largest carrier rising 14.9% to US$17bn
UAE’s Taqa Q1 net soars on assets sale
State-owned Abu Dhabi utility made a profit of US$145.5m for the quarter
UAE telco du posts 62% profit hike
Dubai operator said net income for three-month period rose to US$181m
Merger is out of our hands, says Gulf Air
Carrier says no closer to deal with Bahrain Air despite recording heavy financial losses
Brent rises on Greece bailout payment, technicals
Trading was choppy all day with oil finding balancing news of a North Sea oilfield shutdown
Gold falls below US$1,600 on eurozone uncertainty
Bullion hit a four-month low of US$1,579.30, its lowest since January 3
Jordan denies claims it plans to depeg from US dollar
“The dollar has served the country well,” the central bank governor said
Qatar seeks proposals for debut sukuk
Banks have already been sent requests for proposals
Aviation
Emirates in new push for German landing slots
Dubai airline brandishes study that contradicts claims that it would hurt Lufthansa
Hong Kong hotel group eyes MidEast growth
Swiss-belhotel International Hotels and Resorts targets Saudi Arabia, Oman and Iraq
Kuwait to launch new trading system on May 13
Gulf’s fourth largest bourse seeks to improve volumes, says director general
Euro judges reject Abu Qatada’s deportation appeal
Radical cleric described as Bin Laden’s right hand man in Europe loses human rights appeal
Dubai to monitor quality of all energy drinks
Municipality lab chief pledges ‘periodic checks’ on quality and safety of energy drinks
NY’s Times Sq to get Abu Dhabi makeover
UAE capital moves into one of world’s busiest pedestrian streets in tourism push
Abu Dhabi’s House of Fraser to open in Feb 2013
Franchise owner Retail Arabia Int’l says UAE store will be 100,000 sq ft, across four floors
Bahrain to celebrate US culture at event
Gulf state, currently in political turmoil, will celebrate Hollywood, basketball and cars
Etihad to start flights to Ethiopia from November
Abu Dhabi carrier will also start operations to Indian city of Ahmedabad