From $83 a barrel in early August prices have declined sharply by nine percent.
Stories by Staff Writer
ADNOC reissues gasoline tender trade
Month long refinery shutdown in October and not in November as expected earlier.
Repos for sukuk planned to expand Shariah market
IIFM wants to introduce repos that don’t violate the religious ban on interest.
ACC to build Jordan’s tallest building
Abu Dhabi contractor inks $93m contract for 50-story Amman hotel.
Iranian fighter crashes near nuclear plant
F-4 jet comes down north of Bushehr, plant to start ops this week.
Schlumberger, Halliburton lead the race for Khafji
Winning company to provide services including directional drilling at Khafji oilfield.
UAE inflation slows for first time in five months
Housing cost is little changed from a year ago after rising an annual 0.9% last month.
Facebook ‘dislike’ scam doing the rounds
Security expert warns the rogue Facebook application is spreading virally.
Mobile tariffs in Arab countries 80% higher than OECD
Study also find price of broadband in region is three times higher than Europe.
BlackBerry ban
UAE sees ‘good progress’ in RIM Blackberry talks
‘It’s very straightforward. It’s not anything regarding censorship’ – official.
EFG Hermes to buy 65% stake in Lebanese lender
Egypt’s largest investment bank to buy stake in Crédit Libanais for $542m.
Microsoft’s Kinect to hit EMEA stores Nov 10
Microsoft to sell the European version of Kinect for 149.99 euros ($192.1).
Marubeni, Int’l Power to open $2.8bn UAE site
2,000-MW F2 plant in Fujairah to use natural gas from Dolphin Energy.
TDIC, Abu Dhabi Islamic Bank sign home financing deal
The offer, effective immediately, will be in addition to existing finance deals – TDIC.
Suspect ship seen before Japan tanker blast – media
There is a possibility the small ship launched an attack – Japan’s Transport Ministry.
Qatar Mini sales triple in H1 – report
Mini sales rise 200% in first half of 2010, making it the biggest selling small car in the country.
Emaar boosts Dubai but market remains muted
UPDATE 2: Dubai’s benchmark index DFM made its largest gain for two weeks.
Aviation
Citigroup cuts Air Arabia price target to AED1.15
Citi cuts share price target, earnings estimates for budget carrier on poor Q2.
Dubai’s Hard Rock Café to include world’s largest guitar
Once open, the Festival City outlet will be the largest outside North America.
BA to increase Gulf winter schedule capacity by 3%
British carrier plans to deploy larger Boeing 777-300 aircraft on Gulf routes by September.
Mediaquest poised to buy ailing Dubai publisher
EXCLUSIVE: The Media Factory said to be in talks with rival – source close to deal.
Oman’s Galfar eyes India and Libya expansion
Contractor’s Indian operation has won three projects; eyes some port projects.
Qatari bank in deal with London’s LMBS for staff training
Commercialbank unveils plans to to fast-track its staff nationalisation.
28 new entries in Expat Power list 2010
Total of 14 nationalities in this year’s list, working in 13 sectors across six GCC states.
Mission Impossible: Ghost Protocol
Mission Impossible IV in discussions to film in Dubai
Paramount Pictures reportedly in the emirate for talks about Tom Cruise blockbuster.
UAE gold investors tricked by fakes
Several tons of gold imported by traders into the UAE from Africa has turned out to be fake – report.
UAE plans embassies in Africa and Latin America
With over 77 embassies overseas, the UAE is battling a shortage of diplomatic staff.
Bahrain broadband prices halve in two years
Regulator says more work needed on leased line tariffs, high-speed broadband.
UAE cinema box office set to slump by 70% in Ramadan
Lack of major releases and traditional slump in attendances to hit revenues.
UAE’s Deyaar may abandon $101m Flamingo project
‘Master developer may not complete the related infrastructure,’ firm says in a report.
Bahrain’s ‘Pearl Route’ heritage site to cost $27m
Work on the 2km Muharraq street project is set to begin in January 2012.
More UAE petrol price hikes this year – report
Official says cost will keep rising until fuel stations can make a profit.
BA eyes potential in the Iraqi market – CEO
British carrier sees demand in Iraq but says firm plans are still ‘under review’.
UAE ministry targets lower Ramadan food prices
Consumer protection team fines five vendors during inspection at Dubai market.
Concerns mount over French halal meat procedures
Between 40-80% of halal meat estimated to not meet standards.
Welcome to the Expat Power 50
Welcome to the second annual Expat Power 50, the list of the most influential expatriates living and working in the Gulf today. Over the following pages we profile the 50 names making the biggest difference to the region they now call home – business leaders who have come to the Gulf and are playing a huge role in helping shape its future.
‘Micky’ Jagtiani Gulf’s most influential Indian
Landmark group head among the ten Indians in GCC’s 50 most influential expats’ list.
Finance chiefs star in Expat Power list
Total of 11 expats from the sector make the list; Banking & Finance figures monopolise top slots.
Refined design
Lebanon’s latest landmark, Le Gray hotel Beirut, is setting new standards for hotel interiors in the region, says Fida Slayman.
The right ingredients
Top beverage professionals met up at the InterContinental Hotel Dubai Festival City this month, to share some honest advice on exactly what it will take to bring the Middle East bar industry up to international standards.
Takin’ care of business
Taking over the helm of Sound & Stage has felt a bit like being entrusted with someone’s baby – or perhaps in this case, their spanking-new kit.
Oman air force buys 3 planes from Lockheed, Airbus
No financial details of the deal have been provided as yet by the GCC member.
Acquisitions and Divestitures
Qatar Holding dealmaker tops Expat Power List
Anthony Armstrong takes the top spot; 28 new entries in this year’s list.
The resurrection
After the hurt of his near miss at last year’s Open, Lee Westwood turned negatives into positives, disappointment into hope, defeat into victory and reeled off a remarkable run of results to finish 2009 on top of the European Tour tree. Now, with the Claret Jug up for grabs at the ‘Home of Golf,’ his renaissance would be complete if he converts Open Championship anguish into joy, writes Mike Wilson.
The Road to disaster
Perhaps the most famous par-4 in the world, the already tough 17th hole at St Andrews has been lengthened and will definitely play a pivotal role in determining the eventual champion, says Joy Chakravarty.
The beauty is a beast
Henrik tells us why he is glad the next US Open will not return to Pebble Beach before 2019.
UITP Congress 2011 preparations in full swing
Organising committe is pulling out all plugs to ensure the event’s success.
RIM to provide Indian government partial access
Many countries have asked for access to its messenger service over fears of misuse.
2011 Bahrain Grand Prix to be held on old track
Stars appreciate the move after the experimental track proved a damp squib.
Middle East supertanker rents extend advance
Market has risen after owners rejected unprofitable cargoes and constrained supply.
English Premier League
Blackburn bidder says $156m ready for transfers
Founder of Bahrain’s Western Gulf Advisory has set aside $486m to invest in club.
ADCB launches 500mn ringgit bond sale
Deal is aimed at being a good source of ‘five year funding’ for the bank.
UAE says it’s checking Iran ties comply with UN
Intelligence cooperation, law enforcement and export controls scrutinised.
UAE firms looking at Iraqi oil industry – ambassador
‘There are indicators that the UAE will have a place in the petroleum and energy sector.’
