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Gulf Air this week appointed COO Björn Näf to act as president and chief executive following the shock resignation of Andre Dose (pictured). Airline's chairman says ex-president did not fall out with board, despite reports to the contrary.
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Gulf companies have made foreign acquisitions worth more than $40 billion since the beginning of this year, a figure that could rise to over $60 billion if Qatar's $21.3 billion takeover of UK supermarket giant J Sainsbury goes ahead. (Leon Neal/AFP/Getty Images)
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Dubai's Istithmar this week said it could consider launching Barneys New York in markets such as China and the Middle East if it completes a deal to buy Jones Apparel Group's luxury retailer. (Mario Tama/Getty Images)
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Russia has no chance of finishing Iran's first nuclear power station before autumn 2008, a year behind schedule, it said this week. Russia has used the Bushehr nuclear plant as a lever in relations with Tehran. (Behrouz Mehri/AFP/Getty Images)
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The region's first and largest low-cost carrier Air Arabia this week announced a whopping 342% increase in net profits for the first half of 2007. The airline – who raked in $31.3mn in H1 – also began trading its shares on the Dubai Financial Market (DFM) last week.
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New Zealand's government said this week it will look at whether Dubai's proposed purchase of Auckland International Airport is in the nation's best interests when deciding whether to approve the acquisition. State-owned Dubai Aerospace Enterprise has offered to pay up to $2.08 billion for a controlling stake in New Zealand's main airport.
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The UK's largest sporting retail brand Lillywhites is set to open four flagship stores across the UAE, it revealed this week. Retailcorp, the retail arm of Dubai World investment company Istithmar, has signed a master franchise agreement to bring the renowned London-based sports department store to the Emirates.
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Saudi Arabian Airlines (Saudia) is in discussions with Boeing this week over the purchase of the US aircraft manufacturer's latest 787 Dreamliner. If Saudia does place an order, it will be the fifth Arab carrier to opt for the fuel-efficient aircraft, along with the UAE, Etihad, Royal Jordanian and Qatar Airways.