A look at today's important financial news and business updates from the Middle East region: UAE Finance Minister rules out income tax imposition The UAE’s finance minister has rebuffed reports the government has plans of imposing income tax on individuals or...
Middle East Business News Review – A look at today’s important financial news and business updates from the Middle East and North Africa Qatar more expensive to build than the UK – report Despite a fall in construction costs over the...
Today’s top business and economy news from the Middle East and North Africa: UAE's First Gulf Bank inks $900m loan deal First Gulf Bank, the second-largest lender by market value in the UAE, has signed a three-year $900m loan with a...
The UAE newspapers widely commemorated the 10-year anniversary of the terror attacks on the US which occurred on 11 September 2001. The front page of The National on Sunday carries an image of two Black American women sobbing just moments...
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...
A photograph of the President Sheikh Khalifa bin Zayed Al Nahyan receiving rulers as well as top ranking officials of the UAE features on the main pages of Khaleej Times as well as Gulf News. The National, however, has...
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 launched a AED12 billion ($3.26 billion), 1000 megawatt solar energy project that will be fully funded by the Dubai Supreme Council of Energy, Saeed Al Tayer, vice chairman of the energy body said while speaking to newsmen. He...
Today’s top business and economy news from the Middle East and North Africa: ADNOC to retain current UAE oil concession structure Abu Dhabi National Oil Co (ADNOC) director general announced on Sunday the company will present the current structure of its...
Emirati newspapers unanimously carried the statement of UAE Vice President Sheikh Mohammad in which he called on voters to elect good and competent candidates in a civilised and democratic manner. Gulf News called the polls a 'new chapter' in UAE...
Ageing population boosting demand for UAE Islamic savings products Sharia compliance is the key factor driving savings decisions by United Arab Emirates nationals, where an ageing population is expected to boost demand for Islamic savings products, a top Dubai-based National...
Today's newspapers reflect the regional disturbances in Syria, Libya and Yemen. Gulf News reported signs of civil war in Syria after troops loyal to Baathist regime pounded the rebel-controlled town of Rastan and claimed taking control of it after heaving...
Etihad Airways announced it has broke even its 2011 target by posting a AED51.4 million ($14 million) profit. The UAE's flag carrier reported a pre-interest and tax full-year earning of AED503.21 million ($137 million) while generating AED15.06 billion ($4.1...
QTel repays $3bn loan facility Qatar Telecom (Qtel) said in a bourse statement on Thursday it has repaid a $3 billion loan facility using existing funds. According to Thomson Reuters data, bookrunners Barclays, BNP Paribas, DBS and RBS facilitated the five-year syndicated term loan...
A look at today’s important financial news and business updates from the Middle East region: Etihad secures 4% stake in Virgin Australia; Eyes further expansion Abu Dhabi’s flagship carrier announced on Tuesday it has acquired a 4% stake in Virgin Australia...
A look at today’s financial news and business updates from the Middle East region: Dubai shows impressive performance in The Wealth Report 2012 Dubai found a place amongst world’s fastest growing cities in importance for high net worth individuals (HNWIs). For quality...
Today’s top business and economy news from the Middle East and North Africa: Global Ports purchases DP World stake in Far East port DP World, the world’s third-largest port operator, said on Monday it has sold its 25% stake in container...
A look at today’s important financial news and business updates from the Middle East region: Global crisis not going to hurt local banking: UAE central bank The UAE central bank announced the country’s banks won’t be adversely impacted by the turmoil...
Middle East Business News Review – A look at today’s important financial news and business updates from the Middle East and North Africa GCC to emerge as solar energy hub in near future Solar energy will dominate the upcoming renewable energy...
Middle East Business News Review – A look at today’s important financial news and business updates from the Middle East and North Africa Dubai leads Middle East hotel industry June performance The Middle East North Africa region posted a positive performance...
Today’s top business and economy news from the Middle East and North Africa: Emirates to buy 100 777s if Boeing builds new model Emirates, the world's largest airline by international passenger traffic, is likely to order 100 planes or more from...
Today's newspapers have discussed the global riots against the elite in great detail. "The 99% cry for change" Khaleej News' main headline declared along with a large photograph of a half naked protestor hurling a tear gas canister towards police...
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...
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...
A look at today's financial news and business updates from the Middle East region Dubai tops Middle Eastern financial centres index The UAE’s financial centres have improved their economic standing but still lag behind in the list of global economic hubs....
A look at today’s important financial news and business updates from the Middle East region: Goldman Sachs, other intl banks to advise on Aldar, Sorouh merger Reports coming from Abu Dhabi on Monday said four international banks have been selected as...
Enoc joining hands with Saudi fuel retailer to open outlets in kingdom Emirates National Oil Co (Enoc) announced on Tuesday it is joining hands with Saudi fuel retailer Aldrees to build at least 40 service stations in the kingdom. The...
Middle East Business News Review – A look at today’s important financial news and business updates from the Middle East and North Africa Qantas seeking Emirates ‘lifeline’ – report Australian flag carrier Qantas said on Thursday it is holding talks with...
The massive earthquake in Turkey has grabbed headlines of today's newspapers. Khaleej Times said as many as 1,000 people are feared dead when a powerful earthquake measuring 7.2 on Richter scale hit the scenic city of Van and surrounding districts...
Middle East Business News Review – A look at today’s important financial news and business updates from the Gulf, Levant and North Africa: Ras Al Khaimah retail economy growing despite tough competition Retailers in Ras Al Khaimah (RAK) are hoping for...