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UAE TO RELEASE FIRST GOLD COIN BY MARCH END The Dubai Multi-Commodities Centre (DMCC) announced the UAE's first gold coin, bearing the portrait of President Sheikh Khalifa Bin Zayed Al Nahyan, will be available for distribution by the end of...
The front pages of today's Khaleej Times and Gulf News are dominated by a picture of former US President George W. Bush and current US President Barack Obama standing with their wives at the memorial at Ground Zero for...
Downtown Dubai’s cultural district to include opera house, art gallery Sheikh Mohammad bin Rashid Al Maktoum, ruler of Dubai and also the UAE’s vice president and prime minister, announced plans on Wednesday of establishing a cultural district in downtown Dubai...
Glencore Intl, the world's largest publicly traded commodities supplier, has agreed to buy copper and zinc giant Xstrata for AED 227.7 billion ($61.99bn) in what is seen as the world's biggest mining takeover. The Switzerland-based company, which enjoys major...
Middle East Business News Review – A look at today’s important financial news and business updates from the Middle East and North Africa ENEC to construct nuclear power reactors near Abu Dhabi UAE’s nuclear regulator has given green signal to the...
Qatar Airways and Airbus patched up their differences to seal a dramatic deal that confirmed the order for five A380 super jumbos and 50 A320neos along with another 30 options. Insiders said the deal stalled on the third day...
Middle East Business News Review – A look at today’s important financial news and business updates from the Gulf, Levant and North Africa: Cathay heals Airbus’ Etihad cancellation heartbreak with $4.2bn order Cathay Pacific announced on Tuesday it planned to place...
A look at today’s important financial news and business updates from the Middle East region: ILO warns of worsening Arab youth unemployment ‘crisis’ More than a quarter of young people in the Middle East and North Africa region are unemployed, according...
A spokesperson for Dubai International Capital, on condition of anonymity, announced the investment fund has reached a deal with creditors to renegotiate terms on $2.4 billion worth of debt. DIC is part of Dubai Holding conglomerate, an entity controlled...
Abu Dhabi's Masdar and Spain's Sener have agreed to invest up to $5 billion on the 60/40 Torresol Energy joint venture that seeks the construction of concentrated solar power plants across three continents. According to Enrique Sendagorta, President of...
Today’s top business news from the Middle East and North Africa: IMF says Saudi may post small budget deficit in 2016 amid global recession The International Monetary Fund (IMF) said on Wednesday it expects oil rich Saudi Arabia, which has been running...
Middle East Business News Review:  Top Business News from the Middle East & North Africa GCC nations have great interest in missile defence systems - Lockheed Martin Saudi Arabia and other Gulf countries have shown interest in buying the most advanced...
Today’s top business and economy news from the Middle East and North Africa: UAE govt approves deficit-less 2013 federal budget The United Arab Emirates Prime Minister Sheikh Mohammed bin Rashid Al Maktoum announced on Tuesday the government has approved a deficit-less 2013...
Today’s top business and economy news from the Middle East and North Africa: UAE invests $200 million in Azerbaijan projects The UAE Deputy Economy Minister Mohammed Ahmed Bin Abdul Aziz Al Shihhi said during a joint business forum in Baku on...
According to the Scotsman, Scotland's First Minister Alex Salmond is expected to sign a deal with Masdar, Abu Dhabi's green city project at the sidelines of World Energy Future Summit in the UAE capital later this month. The agreement...
Middle East Business News Review – A look at today’s important financial news and business updates from the Gulf, Levant and North Africa: UAE, Qatar rank among top 50 Global Innovation Index countries Qatar and The United Arab Emirates are leading...
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...
ME AIRLINES RECORD DOUBLE DIGIT GROWTH IN JANUARY According to an International Air Transport Association (IATA) statement, Middle Eastern airlines posted 14.5% growth in January, by far the best performance in the world. "The year started with some hopeful news...
According to Reuters, Dubai Investments recorded quarterly losses of AED61.4 million ($16.72 million) when its manufacturing businesses received hit by political uprisings in Libya and Syria last year. The conglomerate recorded a profit to the tune of AED117.4 million...
Middle East Business News Review – A look at today’s important financial news and business updates from the Gulf, Levant and North Africa: Booming LNG income triples Qatar budget surplus Qatar’s booming revenues from liquefied natural gas more than tripled budget...
FNC poll registration ends as women, young persons dash to get registered as candidates Today's front pages of leading Emirati newspapers are dominated by the electoral activity as registration process came to an end on Wednesday. Gulf News published the photograph...
Middle East Business News Review - A look at today’s important financial news and business updates from the Gulf, Levant and North Africa regions of the Middle East: UAE, GCC economy to witness robust growth despite geopolitical challenges The UAE will...
Today’s top business news from the Middle East and North Africa: Oman announces desalination plants worth $400m An Omani government official announced on Thursday there are plans in place to build three desalination plants at a cost of about $400 million...
Today’s top business news from the Middle East and North Africa: Dubai to refinance maturing debt by issuing bonds Dubai finance chief said on Monday plans are in place to issue a bond to refinance part of AED6.5 billion ($1.8 billion) of...
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...
UAE VOWS TO PROTECT CONSUMERS FROM COKE, PEPSI PRICE VIOLATIONS Hashem Nuaimi, head of Consumer Protection Department the Ministry of Economy, vowed to pull Coca-Cola and Pepsi cans off the shelves as both beverage companies violated consumer protection rules. "Pepsi...
Middle East Business News Review – A look at today’s important financial news and business updates from the Gulf, Levant and North Africa: Turkish hotel chain unveils Middle East, including UAE, expansion plans  Turkish luxury hotel chain Rixos unveiled plans to...
Today’s top business and economy news from the Middle East and North Africa: Top UAE banker says Islamic finance ethical model for global banking A top UAE banker said on Sunday Islamic finance can be an ethical and sustainable business model...
The UAE cabinet, chaired by Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and ruler of Dubai, has approved plans that allow companies from across the GCC to open branches in the country...
COKE, PEPSI GIVEN 30 DAYS TO REMOVE UNLAWFUL CANS Officials of the Consumer Protection Department of the Ministry of Economy have issued a month long ultimatum to remove all 300ml cans from hotels, restaurants, stores, and other places or face...
Middle East Business News Review – A look at today’s important financial news and business updates from the Middle East and North Africa Dubai diamond trade hits $39bn in 2011, up 12% The total value of Dubai’s diamond trade, including rough...
Middle East Business News Review:  Top Business News from the Middle East & North Africa UAE banks gain from European banks’ withdrawal Banks in the United Arab Emirates are filling the gap left by European institutions pulling back from the country’s...
Emirates Airlines stole the Dubai Air Show on Sunday by placing a record-breaking order worth $18 billion that will see the inclusion of 50 Boeing 777s. Other option orders include 20 more 777s that will cost the Dubai flag...
Today’s top business and economy news from the Middle East and North Africa: UAE records $9.9bn fiscal surplus in 2011 The United Arab Emirates’ finance ministry said on Monday the state recorded a budget surplus of AED36.2 billion ($9.9 billion) in...
Today’s top business news from the Middle East and North Africa: Abraaj joins hand with US govt to launch $400m Middle East private equity fund Abraaj Capital, a leading Middle East private equity firm, announced it is going to set up a...
The United Arab Emirates has been ranked fifth in the world in terms of government spending efficiency in the 2011-12 Global Competitiveness Report of the World Economic Forum. The report highlighted the UAE's efficient and transparent performance in terms...
A look at today's financial news and business updates from the Middle East region: UAE minister expresses concern over threats to regional shipping The UAE’s economy minister expressed his concerns over persistent piracy, volatile oil prices and threats to shut down shipping...
Today’s top business and economy news from the Middle East and North Africa: Abu Dhabi included in the Global Cities list The fifth edition of Cities of Opportunity released by Price Waterhouse Cooper and the Partnership for New York City has...
Today’s top business news from the Middle East and North Africa: Economy to grow faster than IMF forecast: UAE Central Bank The Central Bank of the United Arab Emirates said the federation’s economy has shown “sustained resilience” and is likely to...