Indian carrier to launch daily flights to Doha on Jan 21 amid growing demand.
Author Archives: Staff Writer
Qatar economy seen growing by 7.5% to 2013
New report says growth will peak in 2010 with 13.3% expansion predicted.
Saudi stock market regulator acts over insider dealing
Capital Market Authority imposes sanctions on five people for stock price manipulation.
Burj Khalifa
Arabian heights
Dubai has made a habit of boldly going where no country has before. But the Burj Dubai is still a quantum leap apart, says Joanne Bladd.
Sweet success
As a growing number of highly-skilled pastry chefs take up positions in the region’s kitchens, the Middle East is fast becoming a hub of culinary innovation and intriguing design. Ben Watts speaks to pastry chefs to find out what’s fuelling the dessert explosion.
Bahrain’s GFH takes $300m Dubai project provision
Islamic lender begins revamp of business model to improve service to investors.
GMMOS acquires marine co MMPL
Stanford plans to expand its presence in 2010 with new offices in India and Africa.
Gulf markets calm as year end approaches
Experts predict a better 2010 for Middle East region as bourses register marginal gains and falls.
Rents & Renting
Dubai sets limit for rent increases for 2010
Decree issued by Dubai ruler in bid to improve stability in battered real estate market.
Dubai moves to protect Amlak, Tamweel creditors
UPDATE 1: Ruler sets up judicial panel to review legal claims related to firms.
Dubai stock market to lag region in 2010
Oversupply of real estate and debt will drag market, while Abu Dhabi seen as success – report.
Sheikh Mohammed among top 50 people of the decade
Dubai ruler named as one of the ‘Fifty faces that shaped the decade’ in FT list.
Burj Khalifa
Burj Dubai metro station set to open on Jan 4
Station will be 11th to start ops on Red Line, coincides with opening of world’s tallest tower.
GFH’s $3bn Tunisia project moves ahead
Work is set to commence in September 2010 after land purchase agreement signed.
UAE slaps ban on Kazakhstan sheep, goat products
Ministry orders temporary restriction on imports amid chicken pox disease fears.
ENOC eyes self service move in early 2010
Emirates National Oil Co says plan follows pilot project at 10 service stations last year.
Kuwait Gulf Oil Co eyes $1.14bn spend in 2010 – report
MD reveals company’s spending plan on oil and gas projects for next year.
Construction begins on Waha Land’s Almarkaz project
Contractors leveling land on Abu Dhabi-based project to enable infrastructure work to commence.
RAK Properties awards $108m worth of Mina Al Arab deals
Contracts have been awarded to DTC, Al Tameer and AAA Contracting.
Abu Dhabi Duty Free posts 12.7% revenue rise
Airport’s retail arm exceeds AED500m in 2009, further expansion planned in 2010.
Emaar gains 2.2% as Dubai index ends higher
UPDATE 7: Agility performance weighs on Kuwait index, while Oman, Bahrain advance.
Moody’s cuts ratings of Abu Dhabi Commercial Bank
Ratings agency cites lender’s ‘weakening’ asset quality amid rising pace of loan defaults.
Bounced cheque panel to start hearing cases in Jan
Dubai’s new judicial committee set to resolve issues in record time – official.
UAE signs $171m deal for Black Hawk helicopters
United Technologies Corp’s Sikorsky unit will convert 14 helicopters to UAE specifications.
Iran confirms arrest of Dubai TV journalist
Reda al-Basha will be freed if found he had permission to work in Tehran.
Qtel set to deliver new customer services in Q2 2010
Senior official says new strategy set to improve performance to customers.
UAE hotels suffer 28% drop in revPAR in Nov
Latest data shows occupancy rate also down by nearly 9% compared to Nov 2008.
Market leader
Manaf Alhajeri, the general manager of Kuwait Financial Centre ‘Markaz’ explains how the company has become one of the leading investment banking institutions in the Arab region.
Petrofac collation wins $9.7bn Turkmen gas contract
New contracts signifies Turkmenistan’s attempt to move away from Russian market.
ISDB capital position ‘very strong’ – Standard and Poor
Bank’s strong ratings supported by total assets and maturites exceeding liabilities.
du launches e-bill for home customers in UAE
The paperless billing system allows customers to view and pay bills online.
Saudi Arabia to build 8,143 new housing units
Saudi Arabia to build new housing units in order to accomodate its rising population.
UAE to sell nuclear power and export more oil
UAE’s nuclear power plants may also be used to export electricity to countries nearby.
Saudi SABIC goes private on $2.67 bn bond issues
The agreement with PIF was signed due to stock crisis and a regional investor climate.
Dubai rally ends, most Gulf markets end lower
Majority of the Gulf markets ended lower due to end of year quiet trading.
Abu Dhabi assures Moody’s of financial assets
ADIA’s financial assets estimated to be ‘double the value of the emirates GDP’.
Dubai ruler issues new law on corruption
Perpetrators face up to 20 years in jail under new regulations – Sheikh Mohammed.
UAE to provide more support for SMEs next year
UAE Minister of Economy says gov’t committed to boosting performance of SMEs.
Air Arabia announces extra Dammam flights
Sharjah-based carrier will add seven extra flights to Saudi city from January 17.
Etihad to increase Abu Dhabi-Beirut service
Airline will increase flights to 18 a week from Jan 1, to meet demand.
Dubai licence plate auctioned for AED1.52m
A total of AED14m was raised at the latest Roads and Transport Authority auction.
Total value of Mideast IPOs sees big drop in 2009
Regional markets raised $2.06bn this year compared to $12.46bn in 2008 – Ernst & Young.
Investor confidence picking up after Dubai debt woes
Quick recovery made by the UAE Index indicates resilience of the market – Shuaa.
Cricket
Dubai Sports City to host ICC World Twenty20 Qualifier
Dubai International Cricket Stadium will now host 11 out of 17 qualifying matches.
Dubai second most popular travel spot for young Brits
Over a quarter of all British youth are set to visit the emirate over the next decade.
Abu Dhabi real estate sales rise in Oct/Nov
Latest Landmark Advisory report shows little change in UAE capital property prices.
ADNOC to cut production in February
ADNOC says cuts at its various plants will range from 10-15%, in-line with OPEC decision.
Kuwait to restart operations at Shuaiba refinery
Operation will resume gradually after the refinery was shut down on Dec 26.
Christmas Day bomber studied in Dubai
Nigerian bomber quit before completing degree at Dubai’s Wollongong.
Bahrain: phones getting busier
Batelco and Zain are set to face increased competition in the coming year, says Oliver Cornock.
Saudi index ends lower, extends losses
UPDATE 4: Blue chips lead gains in Oman, MSI ends higher amid decent volumes.
Gulf’s first awake brain surgery performed in UAE
Patient recovering well after tumour removed while they were awake in Abu Dhabi.
Sheikh Mansour denies bid to buy Real Madrid
Source close to Man City owner says reports are ‘unfounded and lacking in credibility’.
Airport police swoop on largest passenger drugs haul
Man arrested for smuggling 2kg of cocaine through Dubai airport in his luggage.