Etihad Says Jet Deal Deadline Extended Until Aug End

The Abu Dhabi carrier is awaiting Indian regulatory approval to acquire a $379 million stake in Jet Airways.

UAE’s Etihad To Acquire 49% Stake In Serbia’s JAT Airways

Under the deal signed with the Serbian government, Etihad will provide a $40 million loan facility to JAT.

DFG Sells 30.5% Stake In Malaysia’s Bank Islam

The sale transaction worth $550 million concluded on July 31.

BAE Sees Multi-Billion Dollar Saudi Jet Deal Agreed In Second Half

BAE has been locked in pricing negotiations with Saudi Arabia over the Gulf state’s order of 72 jets since 2007.

UAE Cooling Firm Tabreed’s Q2 Net Profit Jumps 37%

The Dubai-listed firm posted a net profit of Dhs79.4 million in the second quarter of the year.

Iftars, Suhours Boost Dubai Hotel Revs During Ramadan

With hotels battling the double dampener of Ramadan and summer, firms are boosting their coffers through iftar and suhour offerings.

Saudi’s Prince Alwaleed Loses UK Court Battle Over Gaddafi Jet

A British court ordered the Prince to pay a $10-million commission to Daad Sharab, who brokered the sale of the jet.

Eid Holidays Announced For UAE’s Private Sector

Private sector employees will either get a break from August 8-9 or August 9-10, depending on the sighting of the moon.

Qatar Dreamliner Returns To Service After 10-Day Hiatus

The Qatari airline said that the 787 jet was out of service for what it described as a “minor” technical issue.

Dubai Receives 5.58 Million Tourists In H1 2013

Visitor numbers from Saudi Arabia rose by 31.6 per cent during the first half of the year, said DTCM.

Dubai’s New Design District Attracting International Designers

The emirate’s recently launched project is receiving strong interest from designers, design academies and boutique hotels, says developer.

Bahrain Petroleum Says Hydrocracker Back On After Brief Outage

The unit had been shut down to work on a gas compressor.

Budget Carrier Jazeera Profit Soars By 95%

The airline recorded passenger growth of 4.1 per cent, along with a load factor of 70 per cent in H1 2013.

UAE’s Abraaj Group Exits Investment In Ghana’s HFC Bank

The investment firm sold its stake in HFC to Republic Bank, an independent Caribbean bank, for an undisclosed sum.

Rights Group Condemns Lashing, Jailing Of Saudi Blogger

Raif Badawi, who started the ‘Free Social Liberals’ website to discuss the role of religion in Saudi Arabia, was sentenced on Tuesday.

MENA CEOs Confident About UAE and Saudi Growth

Despite a bullish outlook on sales growth by MENA CEOs, employment levels are expected to remain flat with businesses adopting a cautious approach.

Abu Dhabi Energy Firm TAQA Swings To Q2 Loss

TAQA’s results were weighed down by derivatives and hedging exposures and a slump in income from its oil and gas business.

DP World Says H1 Consolidated Volumes Down 5.7%

The port operator’s volumes dropped in Asia, Europe and the Middle East.

Kuwait’s Ruler Pardons People Convicted Of Insulting Him

Dozens of Kuwaitis have been charged with insulting Emir Sheikh Sabah al-Ahmad al-Sabah, especially online.

IMF Warns Dubai On Debt, Surging Property Prices

Dubai property prices have soared around 35 per cent from a year ago in June, according to estimates, triggering fears of another bubble.

Eid Holidays Announced For UAE’s Government Sector

Government offices will be shut from Wednesday, August 7.

Ooredoo Q2 Net Profit Soars 44% To $253.5m

The Qatari telecoms firm saw increased revenue from the group’s units in Iraq and Indonesia.

Saudi Website Editor Sentenced To Seven Years In Prison, Lashes

Raif Badawi started the “Free Saudi Liberals” website to discuss the role of religion in Saudi Arabia.

Indians Invest Dhs8bn In Dubai’s Property Market In H1 2013

Foreign investments in Dubai’s real estate market increased 73 per cent from H1 2012 to reach Dhs32 billion.

Dubai Issues Decree To Repay Investors In Cancelled Property Projects

The emirate is setting up a special legal committee to settle disputes related to projects officially cancelled by RERA.

Jet Rotana To Operate Thrice Weekly Flights from Abu Dhabi To Dubai

Tickets for a roundtrip between the emirates are priced at Dhs150.

UAE Online Job Postings Fall 31% Annually – Monster

Healthcare job opportunities in the UAE were up by eight per cent from last year but chemicals industry jobs plunged 14 per cent.

Saudi’s $22.5bn Metro Project Aims To Shift Economy Beyond Oil

Six rail lines carrying electric, driverless trains and extending 176 kilometres in Riyadh are to be completed by 2019.

Bahrain’s Investcorp Annual Profits Surge 56%

Investcorp made a net profit of $104.9 million in the 2013 fiscal year ended in June.

Salini Impregilo Team Wins $6bn Saudi Metro Project

The firm’s attributable net income from the deal will equal around 29 per cent of the $4.9 billion estimated for civil works.