A look at today’s important financial news and business updates from the Middle East region: Etihad claims 3% stake in Irish flag carrier Reports coming from Ireland suggest Etihad Airways has formally acquired a 2.98% stake in Aer Lingus as part...
Opec output hits the highest since 2008 despite lowest Iranian supply in two decades A Reuters survey revealed that Opec output in April has hit its highest since 2008. The rise in output was mainly due to the rise in...
A look at today’s important financial news and business updates from the Middle East region: Dubai Health Authority signs MoU with Mubadala Healthcare Dubai Health Authority (DHA) and Mubadala Healthcare signed a Memorandum of Understanding (MoU) to collaborate pertaining to areas...
A look at today’s important financial news and business updates from the Middle East region: Investors show strong interest in Dubai’s Sukuk bonds The Government of Dubai announced on Thursday it would be raising $1.25 billion in two 5 and 10...
A look at today’s important financial news and business updates from the Middle East region: Dubai Airports reports 15.4% rise in March passenger traffic Dubai Airports, home to the world’s fastest growing airline Emirates, said passenger traffic registered an increase of...
A look at today’s important financial news and business updates from the Middle East region: Dubai govt. direct debt registers significant drop A Dubai government’s bond prospectus suggested its direct debt dipped 1.6% at the end of March from May last...
A look at today’s important financial news and business updates from the Middle East region:  Middle East Markets Report: VIDEO   UAE banks continue to be the largest asset base in the Middle East UAE Central bank's latest report says that the total...
A look at today’s important financial news and business updates from the Middle East region: Sharjah marks Earth Day by launching Reverse Vending Machines Sharjah is ready to launch 10 Reverse Vending Machines (RVD) which will be placed in different locations...
A look at today’s important financial news and business updates from the Middle East region: International VoIP calls in UAE soon, says Etisalat executive UAE telecoms operator Etisalat announced it will offer Internet-based phone calls by the end of the second...
A look at today’s important financial news and business updates from the Middle East region: UAE to introduce new laws banning exotic pet keeping The government of UAE announced on Tuesday it will be taking practical steps, including new legislation, to...
A look at today's important financial news and business updates from the Middle East region: Etihad Rail delegation returns from Europe after reviewing security standards A delegation of Etihad Rail, the developer and operator of the UAE’s railway network, has returned...
A look at today's important financial news and business updates from the Middle East region: Dubai business registrations increase 17% in March ’12 More than 1,500 licences for businesses were issued during the month of March, a 17% increase compared to...
A look at today's important financial news and business updates from the Middle East region: ATIC invests $2.4m into semiconductors research centre The Advanced Technology Investment Company (ATIC), a wholly-owned subsidiary of Mubadala Development Company is setting up research centre in...
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...
A look at today's important financial news and business updates from the Middle East region: Dubai eGovernment launches Supply2Dubai official procurement portal Dubai eGovernment, the Department in charge of supervising eTransformation in Dubai, has launched Supply2Dubai, the official Procurement Portal of...
A look at today's financial news and business updates from the Middle East region Abu Dhabi sells Tesla stake for $133m profit State-owned power supplier Abu Dhabi National Energy (TAQA) announced it has sold its 7% stake in US electric carmaker...
A look at today's financial news and business updates from the Middle East region UAE Vice President promises more happiness for citizens The UAE’s vice president and ruler of Dubai has announced ambitious investment plans that will give a boost to...
A look at today's financial news and business updates from the Middle East region UAE the happiest country in the Middle East – UN report A United Nations report has ranked the UAE as the happiest place in the Arab World. The...
A look at today's financial news and business updates from the Middle East region Abu Dhabi-Dubai rail link to be completed by 2016 An Arabic language UAE newspaper said on Wednesday a multi-billion inter-Emirates rail network project will link the country’s...
A look at today's financial news and business updates from the Middle East region: 63% of UAE employees expect salary raise in next 12 months: Bayt.com/YouGov MENA Survey The latest MENA Salary Survey conducted by Bayt.com, the Middle East’s number one...
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...
A look at today's financial news and business updates from the Middle East region YouTube launches UAE version Google announced the launching of a UAE version of YouTube for users in the seven emirates on Sunday. The new YouTube.co.ae domain came amid...
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...
A look at today's financial news and business updates from the Middle East region: UAE allocates $43.38m for eGovernment transformation A top UAE official announced the government has allocated AED159.36m ($43.38m) for Emirates eGovernment between 2012-2014 as part of a major...
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....
UAE biggest arms importer in ME region – report According to a report released by a report by the Stockholm International Peace Research Institute (SIPRI), the UAE stands as the largest importer of arms in the Middle East over the...
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...
Abraaj Capital eyes India for investment, expansion Abraaj Capital, the Middle East’s largest private equity firm, has announced plans to expand further in India. Dubai-based Abraaj joined hands with Sabre Capital, a leading private equity firm in India, to form...
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...
UAE central bank directs lenders to reconsider Emiratis’ loans Lenders in the UAE have been directed by the country’s central bank to help reduce the debt burden of Emirati nationals. Some bankers are suggesting banks to write off certain personal...
Dubai Maintains Position as Middle East’s Automotive Hub Dubai continues to maintain its position as the Middle East’s automotive hub, following the extremely successful Commercial Vehicles Middle East (CVME) exhibition this month. Click here to read in detail. Water guzzling GCC...
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...
UAE oil reserves to drop by 5.8bn barrels in next 4 years Increased production is set to bring decline to the UAE's proven oil and gas reserves over the next few years, a recent report revealed. Click here to read more. Emirates’ executive...
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...
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...
S KOREA TO HELP UAE BUILD 4 MORE NUCLEAR REACTORS According to a South Korean newspaper report, the UAE is seeking to place orders for four new nuclear power generators in addition to the four already under construction. “I heard...
DUBAI TOURISM FIGURES UP BY 10% According to official figures released by Dubai Department of Tourism and Commerce Marketing (DTCM), the number of tourists visiting Dubai rose by 10% to a total of 9.3 million last year while the number...
UAE REGISTERS HUMAN DEVELOPMENT INDEX IMPROVEMENT The United Nations Development Programme's (UNDP) Human Development Index has placed the UAE on the 30th position out of 187 countries, three positions up from 2010 UNDP Report. The Index is a comparative measure...
UAE INVESTMENT COMPANY BAGS OWNERSHIP OF US CHIP MAKER Advanced Technology Investment Company, a hi-tech investment fund owned by Abu Dhabi's Mubadala, has assumed control of Globalfoundaries after buying the remaining minority stake from leading Silicon Valley chip maker Advanced...
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...