Rating agency says agreement is credit-positive for Abu Dhabi’s troubled developer
Author Archives: Staff Writer
Arab uprisings
Syrian rebels ‘hold fire’, want to meet monitors
Rebel commander says trying to contact Arab League delegates urgently
New Abu Dhabi mall set for soft launch in Q1 2012
$292m Capital Mall will offer nearly 280 stores, anchored by Geant Hypermarket
Mike Tyson slams bogus promoter for Dubai visit claim
Former boxing champ says no plans to visit emirate despite reports to the contrary
Alcoa accused of bribing Bahrain officials in $400m deal
US aluminium producer paid millions to Alba and Bahrain gov’t, according to court papers
Gold heads for first quarter of losses in over three years
Spot gold ends 2011 on weak note; new year likely to be dominated by economic crisis
Aviation
Air Arabia set to receive six planes from Airbus in 2012
Low cost carrier says full delivery of order of 44 aircraft will be completed in 2016
Saudi to set bourse opening rules by Jan 15 – source
Kingdom pressing ahead with plan to open up its stock market to foreigners
Egypt crisis
Egypt eyes big rebound in tourism revenue in 2012
Tourism chief says income could rise by more than a third if security situation improves
UAE said to sign $3.49bn Lockheed missile deal
US official says UAE on board for first int’l sale of Lockheed’s new missile interceptor
Bahrain protests
Bahrain to put police officers on trial over unrest
Public prosecutor says two accused of beating detainees to death; trial to start on Jan 11
Aviation
Emirates slashes fares by up to 25% in New Year sale
Dubai carrier offers discounts on flights to over 100 cities on bookings until Jan 9
Qatar raises stake in struggling French conglomerate
Qatar Holding ups interest in Lagardere to over 10%, becomes largest shareholder
UAEFA fines Maradona for insults to rival manager
Football authority hands out $2,450 penalty and caution to high profile coach of Al Wasl
US, Saudi Arabia sign $29.4bn deal for fighter jets
New agreement includes production of 84 combat aircraft, modernisation of 70 other jets
We want to be No. 1, says Sheikh Mohammed
UAE’s Prime Minister also rejects threat to Dubai by extremists in CNN interview
Farm anger adds to India’s economic worries
Price, rather than trade policies are the unique spur to recent protests in Asia’s third-largest economy
Fears over surge in US anti-Muslim attacks
Advocacy group CAIR also urges Muslims to exercise their vote in the 2012 election
First phase of Doha retail strip to open in March 2012
The 8km long Barwa Commercial Avenue will also include Qatar’s first Chinese Dragon Mart
Nakheel
Nakheel names homeowners who haven’t paid service fees
Lists at entrance of Shoreline buildings on Palm Jumeirah contain owners of about 90% of homes
Arab uprisings
New Islamist democracies will be open for business
Islamist democratic free-market government could be one of the ultimate surprises of 2011 Arab Spring
Dubai Metro
Dubai Metro operator acquires Mubadala subsidiary
Serco’s buyout of facilities management firm JBI is part of its expansion plan in Abu Dhabi
Real Estate
Qatar’s IQ sells 34% held in local property firm
Industries Qatar sells stake for $44m amid low demand, growing supply in property sector
Eight risks that may get in Asia’s way in 2012
A worsening global environment will interrupt Asia’s path to economic dominance, says William Pesek
![Obama administration is poised to announce the $29.4bn sale of F-15 fighter jets to Saudi Arabia [Photo for illustrative purposes only]](https://www.arabianbusiness.com/wp-content/uploads/sites/3/cloud/2021/09/14/kU0tzT3P-111280686-3-800x600.jpg)
US poised to announce $29.4bn fighter jet deal to Saudi
Reports say deal will include 84 new fighter jets as Gulf state ramps up investment in military equipment
Qatar’s United Development falls to 3-week low
Developer behind Pearl Qatar is in talks to issue shares worth $43m to a state pension fund
Brent remained on track to post 13% gain for year
Stronger dollar and rising US crude stocks offset Iranian threats to halt a vital oil trade route
Ajman and Sharjah introduce 50% traffic fine discount
Introduction follows similar move by other emirates to persuade motorists with outstanding fines to pay
Diego Maradona hints at taking over UAE national team
Football legend has been tipped as likely replacement for Srecko Katanec who was fired in Sept
Aviation
Revealed: cheapest air fares for New Year’s Eve getaways
See the lowest-priced air fares on 16 of the region’s popular airline routes with our quick guide
Arab uprisings
Arab League monitors see ‘nothing frightening’ in Syria
Opposition activists say government will play for time and bend the mission to its own ends
Gold posts longest slump since 2009; silver slides
Silver tumbles to three-month low as EU’s deepening debt crisis drives commodities lower
Closing Gulf ‘easier than drinking glass of water’, Iran says
Iran navy chief’s comments ratchets up fears over the world’s most important oil chokepoint
Arab uprisings
UK’s Times daily names Bouazizi person of 2011
Tunisian’s self immolation inspired uprisings that toppled Arab world’s dictators this year
UAE broadband, fixed line network sharing plan postponed
TRA had said customers would be able to choose network provider by the end of the year
Dow Chemical ‘optimistic’ over $2.5bn Kuwait claim
US-based chemical giant says Gulf state owes it at least $2.5bn for breaching agreement
Qatar says Q3 nominal GDP rose by 40% on gas output
World’s biggest exporter of LNG’s GDP rose to $45bn, says statistics authority
Telco du to create 1m new mobile phone numbers
Dubai telecom operator wins approval to launch new phone prefix of 0529 in Q1 2012
Aviation
Dubai air passengers increase by 8.9% in November
Airport operator says on course to exceed 50m passengers for first time in 2011
Saudi Telecom buys 60% stake in Saudi firm for $55m
Riyadh-based Sale is a leading retailer of mobile telephone connections in Saudi Arabia
Moody’s downgrades ratings of loss-making Shuaa
Dubai investment bank also put on review for further downgrade amid losses, instability
Real Estate
Abu Dhabi’s Aldar sells assets in $4.6bn debt deal
Abu Dhabi government buys 760 units at Al Raha Beach project, plus city centre development
Qatar Islamic Bank to buy IBQ’s Islamic assets
Deal to see IBQ’s Islamic corporate financing facilities, deposit accounts moved to QIB
Real Estate
Qatar developer’s shares halted over new investor talk
Qatar Pension Fund has offered $5.5 for stock of developer behind man-made Pearl island project
Diamond prices set to rise for next four years
Demand for precious stone may grow at double the pace of supply through 2020, analysts say
Jumeirah Group to host first Burj Al Arab beach party
Luxury hotelier to open beach overlooking one of emirate’s most famous hotels to bring in new year
UAE cenbank to accept electronic copies of cheques
Decision will mean the sorting and exchange of physical copies of cheques will end on Feb 29
Homs situation ‘reassuring so far,’ Syria monitors say
Arab League delegation is probing if Syria is keeping its promise to implement a peace plan
Bahraini lender adds Libya cenbank head as chairman
Central Bank of Libya holds near-60% stake in Manama-based Arab Banking Corporation
Large-caps help lift Saudi index; insurance stocks gain
Saudi investors make small gains as they shrug off Iran’s threat to halt oil supply via Hormuz Strait
Aviation
Abu Dhabi posts 16% air-passenger traffic growth in Nov
UAE capital records over a million passengers for the fifth consecutive month, ADAC says
Steps singer to join Dubai-based radio station
British singer Lisa Scott-Lee will become a drive time presenter on DUBAI 92 from Jan 8
Kuwait mulls law to allow self-sponsorship for expats
Move under review may only apply to those with available funds of at least $36,000
Arab uprisings
Qatar to boost Arab Spring investment in Oman
Latest $137m aid is part of GCC-wide $10bn package for Oman and Bahrain