British Deputy Prime Minister Nick Clegg sulked at Premier David Cameron's approach to European treaty changes at Brussels summit, thus sparking disagreements in the coalition government. The Liberal Democrats party leader said he was disappointed with the Prime Minister...
Dubai registers house prices increase According to the latest Knight Frank Global House Price Index, house prices in Dubai increased by an average of 2.3% during the last quarter of 2011, putting the city in the top ten house market...
Dubai Airports will become the first airport in the region to use the 'virtual assistant' technology to communicate important travel information to around 50 million passengers that use the airport every year. The state-of-the-art digital signage solution uses a...
A look at today’s important financial news and business updates from the Middle East region: Dubai Economic Council forecasts 4 to 5% GDP growth for 2012 Dubai’s Economic Council said the emirate’s GDP will grow by 4 to 5% this year,...
Government of Dubai declared it has no plans to restructure billions of dollars of state-linked debt next year, quashing rumours the emirate is facing new financial difficulties. ?The government is following a solid fiscal policy that strengthens the level...
A survey conducted by the UAE branch of Great Place to Work Institute has named FedEx Express as the best company to work for in the UAE. Microsoft Gulf won the second position on the top 10 chart while...
Gaddafi's last moments and brutal death at the hands of his captors has taken UAE's newspapers by storm. Gulf News published the photograph of Gaddafi's bloodied body lying in a storage freezer in a Misurata market. The paper's main headline...
The government of Dubai says it has gifted land worth around $550 million to Emiratis last year. According to the official data released by the Dubai Land Department, the emirate donated 368 plots to UAE citizens in 2011 as...
Friday saw a spike in international markets, as Asia, Europe and America felt positively about the rhetoric coming out of the EU summit. All indexes gained and rallied while there were huge gains seen on the commodity markets as...
UAE nets FDI worth $1.8bn last year The UAE’s volume of foreign direct investment (FDI) soared to $1.8 billion in 2011 while investments in the entire GCC region totalled $8.64 billion, a top Emirati economist said in a statement. Click...
A look at today’s important financial news and business updates from the Middle East region: UAE govt announces settlement, restructuring of debts held by Emiratis UAE President Sheikh Khalifa bin Zayed Al Nahyan has ordered the settlement of defaulting personal loans...
Violence in the region dominated the front pages of today's UAE papers. Renewed bloodshed in Syria and Al Assad regime's dismissal of Arab League demands were reported by Gulf News and The National. Syrian opposition has already expressed its anger...
A look at today’s important financial news and business updates from the Middle East region: Airbus suffers fresh blow as Etihad bows out on Airbus orders Airbus suffered a fresh setback when Etihad cancelled a second batch of orders worth $2.2...
Today's papers have mourned the death of Saudi crown prince with main headlines and photograph of late Sultan bin Abdulaziz Al Saud. The National reported that the UAE President Sheikh Khalifa has sent a condolence message to Riyadh and ordered...
Oman Air has also made a spectacular move to match regional rivals Emirates after the Muscat-based airlines announced an order of six Boeing 787-8s Dreamliners at the Dubai Airshow. Oman Air currently operates direct flights to 41 destinations across...
PEPSICO, COCA-COLA MIGHT LAND INTO FURTHER TROUBLE FROM CONSUMER RIGHTS WATCHDOG Soft drinks giants Pepsi and Coca Cola fear they could be forced to change the packaging of their cans to avoid further violation of the Department of Economic Development's...
DP World claimed Wednesday it has won the contract to operate Nanaimo port on Vancouver island. Dubai-based ports and shipping group and Nanaimo Port Authority said they have signed a three year agreement to run facilities that include Duke...
GAZA – The United Nations World Food Programme (WFP) began on Tuesday to distribute food to 30,000 people at six sites in Gaza– part of its regular monthly programme to 285,000 vulnerable people in the Gaza Strip. The UN food...
GLOBAL OIL PRICE HIKE RALLIES SHARES IN THE UAE The Dubai Financial Market General Index gained 2% to 1547.54 points due to oil trading above $100 per barrel amid US-Iran tensions in the region. Reports said shares of Gulf Navigation,...
The UAE and Australia have signed a pact to work together on the peaceful use of nuclear energy and lay the groundwork for potential shipments of uranium to the Gulf nation, the country's official news agency said on Wednesday. The...
Hyundai’s engineering arm scoops $1.5bn Saudi alumina project  Seoul based Hyundai Engineering & Construction has won the $1.5 billion construction contract for an alumina refinery, part of the multi-billion dollar project to develop a fully integrated aluminium complex in Ras...
A look at today’s important financial news and business updates from the Middle East region: UAE eyes June opening for pipeline bypassing Hormuz The ruler of Fujairah has told a foreign news agency that the strategic oil pipeline bypassing the Strait...
World oil prices hit multi-month lows on Wednesday, as the US dollar hit a 22-month high against euro on concerns over a possible Spanish bailout, dealers said. Brent North Sea crude touched the lowest point since 20 December after sliding...
Middle East Business News Review - A look at today’s important financial news and business updates from the Gulf, Levant and North Africa: Abu Dhabi’s Sowwah Square on the way to emerge as business, shopping hub A New York property developer...
Middle East benefitting from Asian high-sulphur gasoil demand Refiners in the Middle East are using high-sulphur gasoil to create an environmentally friendly fuel in order to feed the demand for cleaner and cheaper alternatives to petro-carbons. Click here to read...
A look at today’s important financial news and business updates from the Middle East region: UAE, Saudi promise Korea to plug Iran oil supply gap South Korean Finance and Strategies Minister Bahk Jae-wan said the UAE and Saudi Arabia have vowed...
Middle East Business News Review - A look at today’s important financial news and business updates from the Gulf, Levant and North Africa: Tehran claims US sanctions against Iran to hurt UAE domestic fuel market An Iranian newspaper report claimed US...
UAE non-oil foreign trade soars in 2011 The non-oil foreign trade sector in United Arab Emirates hit AED1.3 trillion ($350bn) in 2011 compared to AED1.1 trillion ($300bn) in previous year, registering an increase of AED200 billion ($54.54bn) with a growth...
Dubai's stock exchange slumped to more than seven-year low Sunday while the Abu Dhabi Securities Exchange (ADX) fell more than three-week low, local Gulf News reported. The Dubai Financial Market (DFM) General Index was down 0.99 per cent to...
Inspired by the Arab Spring, Americans as well as people in other countries are joining the Occupy Wall Street movement in droves. The protest which started when a few hundred people camped outside corporation offices in Wall Street, New...