Impact Of Saudi Labour Crackdown Spreads Through Economy

Nearly one million foreign workers are estimated to have left Saudi Arabia between last March and November.

UAE’s CBI Seeks Shareholder Nod For $300m Rights Issue

The lender, 40 per cent owned by Qatar National Bank, is aiming to raise Dhs1.1 billion through the issuance of 787.9 million shares.

UAE Sets Rules For Covered Warrants

The conditions include a licensing regime for issuers of covered warrants and disclosure requirements.

National Bank Of Fujairah’s Net Profit Rises 28.6% In 2013

The bank’s profit rose for a fourth consecutive year, owing to its robust business performance.

Saudi Arabia Tenders To Buy 660,000 Tonnes Of Wheat

Saudi has become a major importer of wheat since abandoning plans for self-sufficiency in wheat in 2008.

Saudi Binladin’s Construction Products Arm Plans IPO This Year

The IPO listing is expected to take place before June this year, according to the company’s CEO.

Dubai Exports Opens New Mumbai Office

The Dubai Exports office in India is expected to boost the visibility of goods and services from Dubai.

UAE Banks Warned To Help Write Off Citizens’ Debts

Under the Debts Settlement Fund initivate, banks are required to waive 50 per cent of Emirati debtors’ loans.

Dubai’s Emaar Quietly Replaces CEO Low Ping

The firm appointed Abdulla Lahej as her replacement, industry sources said.

Emirates To Operate Double Daily A380 Services To Moscow

The airline’s second jumbo A380 jet will begin services to the Russian capital from August 1, 2014.

Kuwait’s Shuaiba Oil Refinery Still Shut After Power Cut

The Mina Abdullah and Mina Ahmadi refineries have restarted but are not expected to return to full production until Friday.

Dubai’s DEWA Opens Dhs500m Warsan Complex And Al Qusais Control Centre

The new centre will maintain the required electricity reserve for emergency cases and monitor quality indicators and network performance.

Emirates Steel Seeks $1.3bn Loan To Refinance Debt, Buy Assets

The deal is expected to cut the costs of a loan which was signed in 2010.

UAE Using Too Much Energy, May Increase Prices – Oil Minister

Consumption in the country is double or triple the average of the world, Suhail bin Mohamed Al Mazrouei said.

Helicopter Crashes On Dubai’s Palm Jumeirah Island

The two passengers on board sustained “moderate to critical injuries” confirm officials.

Qatar’s First IPO Since 2010 Fully Subscribed

Mesaieed Petrochemical Holding Co, a unit of state-owned Qatar Petroleum, raised QAR3.2 billion.

Boeing, UAE Join To Produce Aviation Biofuel From Desert Plants

The research partnership comes after findings that desert plants fed by seawater will produce biofuel more efficiently than other well-known feedstocks.

Kuwait Investment Firm KIPCO Plans Up To $500m Bond Sale

The company has hired a group of international banks to help arrange the sale.

Saudi’s SABIC Expects To Enter US Shale Market This Year

SABIC CEO Mohamed al-Mady said the investment would be in downstream operations.

Saudi Minister Says No Role For Syria’s Assad In Transition

In a speech to an international conference on Syria, Prince Saud called for the withdrawal of all foreign forces from Syria.

Etihad’s Hogan To Join Virgin Australia Board

The role will include attending several board meetings each year in Australia.

National Bank Of Kuwait Q4 Net Profit Drops 48%

BK reported a full-year profit for 2013 at $844 million, down from the $1.08 billion recorded for 2012.

Dubai Retailer Majid Al Futtaim Plans To Invest $2.3bn In Egypt

The company expects to complete construction of its ‘Mall of Egypt’ project near Cairo by the end of 2015.

Dubai’s Arabtec Expands, Opens New Headquarters In Belgrade

The new office will help the company expand its presence in the wider Balkan region.

BAE Systems Says Making Progress On Saudi Price Talks

BAE lost a potential $10 billion deal to sell 60 Eurofighter jets to the UAE late last year.

UK Offers Support To Qatar For 2022

Ambassador Nicholas Hopton dismissed criticism Qatar has faced in preparation for hosting the event.

Omega Dubai Ladies Masters Deemed A Success

The Omega Dubai Ladies Masters golfing tournament continues to raise Dubai’s sporting profile.

Etihad Announces Codeshare With New York’s JetBlue Airways

Etihad will codeshare on 40 JetBlue routes within the U.S. with further codeshares planned for later in the year.

DEWA Plans No Bond Issues In 2014 – CEO

DEWA has a $1 billion bond maturing in April 2015.

Abraaj Group Acquires Majority Stake In Turkish Dairy Firm

Abraaj’s investment will help Yörsan Group grow both domestically and internationally.