After a successful 20 year partnership with Al Habtoor motors, Aston Martin is parting ways, as part of a strategic expansion plan in the Middle East and North Africa to emphasize the company as a maker of luxury products...
A filing by First Gulf Bank (FGB) shows that it has ended ties with its Libyan unit, First Gulf Libya Bank (FGLB), after political unrest in the country and its investment in the unit has been classified as "available...
Abu Dhabi's First Gulf Bank sets up a new $3.5 billion Islamic bond programme, according to a London Stock Exchange filing, paving the way for the lender?s first sukuk sale. The UAE's second largest lender by market value said that...
Dubai closed a $800 million financing deal with lenders based on securitizing road toll receipts, London-based Middle East Economic Digest (MEED), reported on Tuesday. The loan, which will be used to fund infrastructure projects, received a strong response from lenders,...
Emirates is investing in a wide-body jet fleet including 90 Airbus SAS A380 Super-jumbos worth $34bn at list prices and financing the planes isn't a concern as it's fully funded through July 2012. The Airbus A380 superjumbo jet is with...
? Etisalat? and the Smartphone company ?EMS? has joined hands to develop a new Mobile Application Store for Blackberry customers. Launching initially in Tanzania where Etisalat operates underneath the name Zantel, the move is a first for Sub Saharan...
Saudi billionaire Prince Alwaleed bin Talal said he has no plans of selling his share at News Corp .?No change, my investment is strategic, not thinking of selling anything,? he told Reuters by telephone. ?The crisis does not make...
UAE is under review for a potential upgrade to an emerging market status by Standard & Poors, an executive said, a coveted status seen boosting foreign fund inflows to the region. The Gulf countries are currently classified as "frontier" by...
Arabtec Construction, a wholly owned subsidiary of Arabtec Holding, the contractor behind Burj Khalifa, led momentum on the Dubai Stock Exchange as Arabtec Construction gained its highest point in two months. The ban on Riad Kamal, a chief executive officer...
Lagoona, a Darwish Malls development, is set to welcome its first visitors beginning August 2011. With 128,000 sq m of space, Lagoona is Qatar?s newest retail avenue offering Qatar residents and the region?s an assortment of lifestyle brands. With August...
Saudi Arabian Fertilizers Co (Safco) said its quarterly net profit fell 13 percent, missing analysts expectations for the second straight quarter. Safco made 790 million riyals ($210.7 million) in the second quarter, compared with 907.2 million riyals in the prior-year...
GCC Infrastructure & Finance 2011 will be held from 27-28 September 2011 at the Royal Horseguard, London. The two day seminar is a unique opportunity to discuss, debate, and promote investment opportunities in three important dynamic sectors?power and water, transport,...
Tyco International Ltd. completes acquisition of 75 percent stake in UAE-based KEF Holdings. KEF Holdings is an integrated valve manufacturer and provide steel castings to oil and gas, chemical, mining, and power industries. With this investment, Tyco gets a platform...
Bank of Sharjah, which was the first Middle Eastern financial institution to borrow from the loan market following the global financial crisis, has mandated banks for a two year money deal. It is refinancing the $150m one year loan it...
Once one of the poorest Gulf nations, is now one of the richest in the region, given to the exploration of large oil and gas fields since the 1940?s. Wealth is not the only factor that has kept Qatar...
The recharge scams have become a nuisance for phone users in the UAE. Between December 2010 and April this year, several people lost huge amount of money. While victims blamed the telephone companies, the phone companies pointed fingers at banks....
The Enforcement Directorate (ED) has been slapped a 7,100 crore penalty on Etisalat DB India for violating the Foreign Exchange Management Act (FEMA). The firm is issued a show cause notice for not reporting funds from abroad to the Reserve...
Dubai the once business hub and God of dream projects in real estate market in now facing a serious catastrophic break down. Property prices in Dubai is dropped upto 48 percent since last year and another 20percent is expected...
Dubai Naturalisation and Residency Department (DNRD) is awaiting approval from the UAE Federal National Council (FNC) regarding full resolution details about the 3-year property visa. Emirates 24l7 reports that Brigadier Obaid bin Suroor, Deputy Director of DNRD, told? that the...
According to an annual survey of 125 countries, Qatar has been named the most innovative economy in the Gulf region. Qatar has got ahead of the race beating China and India, the world?s two largest emerging economies, as shown...
Incredible growth opportunities for UAE's Conferences and Events Industry Special to ArabianGazette.com: by Shveta Pathak Ludhiana, an industrial city located in the North of India, is home to some of the top names in the business world- Munjals of the two...
A top Saudi representative to the international labour body has suggested that expat workers who have been living in Gulf countries for 25 years or more should be granted free iqamas (work/residency permits) or permanent resident status outside the...