UAE’s BinHendi Hospitality Expands Partnership With PepsiCo

PepsiCo SSFL will supply its premium salty snack in all BinHendi food and beverage outlets across the UAE.

Emirates Steel Cuts Banks, Pricing As Loan Oversubscribed

The loan, which refinances an existing $1.1 billion facility, attracted commitments from lenders worth more than $5 billion.

Bahrain Fund Mumtalakat Plans No Bonds In 2014, To Pay Off Small Loan

Mumtalakat had $7.1 billion of assets under management at the end of September and holds stake in 40 firms in Bahrain’s non-oil sector.

Soccer-Qatar 2022 World Cup Committee Denies Wrongdoing

Britain’s Daily Telegraph newspaper reported on Tuesday that a company under the control of Mohamed Bin Hammam paid $1.2 million to Jack Warner.

GCC’s Uber Wealthy On An Investment Spree – Survey

Around 90 per cent of the GCC’s high net worth individuals are more focused on wealth generation than preservation.

Marjan Island Resort And Spa Opens In Ras Al Khaimah

The 302-room resort, a member of Preferred Hotels & Resorts, combines Arabian and Andalusian themes

Emaar Reveals Details About 2,000-Seat Opera House In Dubai

Located in the upcoming Opera District, the multi-format venue will host operas, concerts, art exhibitions, film and sports events.

Saudi Says Spat With Qatar Won’t Be Solved Unless Doha Changes Policy

Saudi, the UAE and Bahrain recalled their ambassadors from Qatar on March 5, citing policy differences.

Flydubai To Start Daily Moscow Flights

Low-cost carrier’s move sees capacity stack up between Dubai and Moscow

Mohamed Alabbar to acquire stake in YNAP from Richemont

Emaar Plans Dubai, London Listing For Retail Unit

Dubai’s largest listed property developer has said it would list 25 per cent of its shopping malls and retail unit.

Kuwait’s Gulf Bank Names Cesar Gonzalez-Bueno New CEO

Bueno replaces Michel Accad who resigned in October last year.

2022 World Cup: Qatar Allegedly Paid Millions To Ex-FIFA Official

New documents reportedly claim former FIFA executive Jack Warner received $1.2 million from a Qatari company in December 2010.

UAE To Assist In Search For Missing Malaysia Airlines Flight

Two search and rescue aircraft from the UAE’s Armed Forces will join the search for MH370, which vanished on March 8 with 239 people on board.

Jumeirah Group Signs Deal To Manage Luxury Apartments In China

Situated in an upscale hotel district in Guangzhou, the project is scheduled to open in 2015.

Etisalat’s Egyptian Unit Considers Stock Market Listing

The company said previous preparations for an IPO had been put on hold because of the political climate.

Emaar Launches BLVD Crescent, New Project In Downtown Dubai

The development features two towers and includes 300 residential units.

Coutts Exec Dugan Resigns To Join NBAD As CIO -Sources

Prior to joining Coutts, Dugan was CIO of Dubai’s Emirates NBD.

Dubai Emaar’s Retail Spin-Off Plan Won’t Affect Rating – S&P

Emaar’s strong reputation with investors for delivering projects, plus the fact it has collected healthy deposits on the off-plan developments, meant it was very cash-rich.

Qatar Sells May Al-Shaheen Crude At Lowest Premiums Since Oct 2011

Refineries across Asia typically shut for maintenance in the second quarter, reducing crude demand.

Dubai World Trade Centre Awards Dhs375m Deal To Al Futtaim Carillion

Under the contract, Al Futtaim Carillion will carry out the first phase delivery of the Dubai Trade Centre District project.

Pakistan Central Bank Blocks Kuwait’s Noor From Selling Meezan Bank Stake

Pakistan’s central bank stated the prospective buyer had not met its standards for suitability.

Philips To Acquire 51% Of Lighting Firm In Saudi For $235m

The acquisition of General Lighting Company will create a new joint venture, Philips Lighting Saudi Arabia.

Majid Al Futtaim To Invest Dhs750m In VOX Cinemas Expansion

VOX plans to open five new cinemas in addition to its existing project pipeline.

Saudi Arabia’s Food Inflation Rate Drops To 4.6% In February

Saudi Arabia’s food inflation rate in February was the lowest since November 2012.

UAE Sets Up New Medical Institute To Boost Healthcare Sector

The cabinet endorsed the establishment of the UAE National Institute for Medical Specialisations to improve training facilities in the country.

Dubai’s DME Signs Pact With Japan’s TOCOM To Develop Energy Contracts

The collaboration will help the bourses offer energy products such as liquefied natural gas and electricity.

Deyaar’s Newly Launched Atria Project Sold Out ‘Within Hours’

The project registered Dhs500 million in sales during the opening hours of the launch.

Saudi C.Bank: China Yuan Good Diversifier, But Far From Reserve Currency

Saudi Arabia’s central bank reserves, the vast majority of which are believed to be in U.S. dollars, grew to a record $718 billion in January.

UAE, Abu Dhabi Extend $20bn Of Dubai Debt

The debt is being rolled over for five years at a one per cent annual interest rate, WAM said in an official statement.

Majority Of UAE Firms To Hire 10 Staff Over Next Three Months

Receptionists, accountants and human resource professionals are the most sought after groups among the employers in the UAE.