Worries of a supply disruption from the Middle East pushed Brent to a record of over $128 in March
Author Archives: Staff Writer
Aviation
EXCLUSIVE: Acquiring airline stakes is “just not worth it” – Emirates boss
Sir Maurice Flanagan said the Dubai carrier has no plans to change course
Brent crude holds above $113 after 4-day drop
Changes in the euro zone political scene have shaken an already fragile outlook
Shares in Egyptian bank EFG Hermes climb on Qatari deal
The surge came after the announcement of an agreement with QInvest
SME growth in Jordan hampered by banks
Bank reluctance to lend stymies growth of industrial sector
Tourism expenditure in Saudi Arabia reached $22bn in 2011
Reports shows 24 million tourists visited Kingdom last year
China to help Iran build electric vehicles
It’s hoped the new buses and minibuses will help cut air pollution, Press TV said
Real Estate
Oman “a safe haven” for regional investors
The Wave sees a 17 percent lift amid Arab Spring uprisings
Kuwait’s Global Investment 2011 net loss narrows
It is the third straight year that Global has reported an annual loss
nasair to lease four new aircraft to boost route network
Low cost airline also eyes smaller planes to tap Saudi domestic market
UN says housing, job woes fuelling Arab unrest
Population of Arab cities to reach 436.6m by 2050, increasing demand for services
Kuwaiti telco Zain’s Q1 profit up 2%
Zain, which operates in seven countries, made a Q1 net profit of US$255m
Dubai’s Al Habtoor Group buys Le Meridien Budapest
Sale of 218-bedroom hotel in Hungarian capital is likely worth US$80m
Dubai Financial Market Q1 profit up on higher trading
Firm made a first quarter net profit of US$3.3m in quarter ending March 31
Qatar Rail will award metro deals next year
Gulf state will use metro network to transport fans during 2022 World Cup
Bahrain to spend US$15bn on developing oil, gas
Gulf state will splash out on developing crude oil and natural gas over 20 years
Kuwait’s Gulf Oil wants 350,000 bpd by 2014-15 – KUNA
Target fits in with Kuwait Petroleum Corp’s goal of 4m bpd by 2020
Drydocks World restructuring hits Singapore snag
Legal proceedings over US$2.2bn debt hit by court challenge over rig-building deal
Canada’s Ithaca Energy sets deadline for bids
Newspaper reported that Kuwait’s national oil company walked away from talks
S Korea says UAE, Saudi promise more oil
Korean finance minister said last week country would reduce imports from Iran
MidEast oil supply reliable – Qatar energy min
Oil production in the region remains reliable, says Gulf state’s energy minister
New Dubai trade licenses up 27% in Q1
Strong growth in number of new tourism firms pushes increase in new licenses
Etihad cancels second batch of Airbus orders
Carrier cut its order tally for the 350-seat A350-1000 wide-body in April, data from Airbus shows
Bahrain documentary prompts Twitter feud
Pro and anti government activists wage war over Al Jazeera documentary
Struggling Shuaa Capital’s Q1 loss narrows
Dubai investment bank said Q1 loss pared to US$2.31m on back of cost cutting
Toyota recalls thousands of cars in the UAE
Dubai’s Al-Futtaim Motors says recall applies to vehicles made 2006-2008
Only Saudi women allowed work in cosmetic shops from June 30
Authorities claim the decision will not reduce jobs for men in the retail sector
ENBD’s Islamic arm plans $500m sukuk sale in 2012
Jamal bin Ghalaita expects to merge with Dubai Bank before the end of 2012
Starwood to open 40 new hotels in five years, plans W Dubai – The Palm
Hotelier wants to tap demand for its brand in the region by boosting portfolio
Kuwait authorities investigating suspected ‘fish kill’
Scores of dead fish have been found along Kuwait Bay, sparking rumors of polluted water
Saudi women hike to Everest base camp for breast cancer awareness
10 Saudi women want to promote healthy lifestyles and educate compatriots
Consumer lending in Saudi Arabia increases 5%
Figures show loans up to $64bn according to a Saudi Arabian Monetary Agency report
Aviation
“Lufthansa hates us with a passion” – Flanagan
The executive vice chairman said the German carrier was trying to block it in Germany
Silver: the greatest investment of this decade
Nik Kalsi excited over “most bullish chart on the face of the planet”
Hardliners should “mind their own business” – HH Sheikh Saud Bin Saqr Al Qasimi
‘Malignant’ influences would not be permitted to harm the UAE says RAK ruler
HH Sheikh Khalifa congratulates Francois Hollande
French President-elect defeats Nicolas Sarkozy with 52% of vote
Dubai index at 11-week low, Gulf markets extend decline
Worries heighten on euro zone’s ability to solve its debt crisis after French election
Arab uprisings
Saudi urges its citizens to leave Syria
Move was over “the continuing deterioration of the security situation” state media reported
Revealed: The Mideast highest paid sports stars
Turkish basketball player Mehmet Okur of New Jersey Nets tops the list
Oil extends slide after French, Greek polls
Since Friday, US crude has lost 6 percent, while Brent has dropped 4 percent
Gold edges down on firm dollar after Europe elections
Euro hits a three-month low against the dollar, Francois Hollande ousts Nicholas Sarkozy
Japan eyes guarantees for ships carrying Iran oil
EU has prohibited European insurance coverage on hull and machinery for Iranian crude shipments
Most Gulf bourses end lower on weak US data; Qatar up
Markets were rattled by soft employment numbers from the US
Revamp planned for Bahrain police – report
Reforms include introduction of forensic lab and 500 new support officers
Oman GDP grew 22.7% in 2011 – report
Non-hydrocarbon sectors including manufacturing and construction grew
Kuwait pulls Ithaca Energy bid – paper
Gulf state’s national company walks away from talks with oil and gas explorer
Fifth of firms in Dubai’s JLT are Indian
Free zone to launch road show in a bid to attract more firms from Subcontinent
S Korea-UAE trade to surpass 2011 level – minister
Korean finance minister says he expects more FDI into UAE’s non-oil sector
DIFC Investments ‘has likely sold SmartStream’
DIFCI has been grappling with a debt pile including a US$1.25bn Islamic bond
Qatar proposes to base 2012-13 budget on US$65 oil
The budget will be “much bigger” than the previous one and may be announced this month
BAE near US$800m Saudi Hawk deal – report
KSA ordered 72 Eurofighter jets and needs the Hawks to train its pilots
Air Arabia posts 12% rise in Q1 profit
Middle East’s largest no frills carrier rakes in US$12.8m profit during quarter
Former Kuwait PM quizzed in graft probe
Sheikh Nasser al-Mohammad al-Sabah’s government resigned last year
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