Two Bahraini Banks In Merger Talks As Consolidation Picks Up

The merger between Al Salam Bank and BMI Bank will create a lender with assets of around BD1.7 billion.

LATEST: Canadians Still Require Visas To Enter UAE

The Canadian visa waiver announced earlier this year has still not come into effect, confirmed embassies.

Kenya Airways Starting Abu Dhabi-Nairobi Flights In July

The service will be operated in conjunction with Etihad following the signing of a reciprocal codeshare agreement in February.

Arabtec’s $650m Rights Issue To Open On June 9

Arabtec had said in March that the fundraising was part of a five-year expansion plan.

Qatar Airways Receives Three Airbus Freighters

The new aircraft will be deployed on flights to Amsterdam, Amman, Cairo, Colombo and Chennai

Qatar Petroleum To Buy Into Total’s Congo Exploration

QPI will contribute specifically to the French company’s Moho North oil project.

Qatar Sovereign Fund Buys Stake In Russian Bank VTB

Qatar Holding, along with Azerbaijan’s SOFAZ and Norges Bank Investment Management, invested $479-639 million each in VTB.

Carrefour Sells Stake In Middle East Venture To MAF For $683m

Majid Al Futtaim Hypermarkets operates 50 hypermarkets and 44 supermarkets under the Carrefour name.

Sheikh Mohammed Announces New ‘M-Government’ Project

The new structure for Dubai’s government is to be implemented in two years’ time and will be “the Government of the future”.

New GCC Tobacco Tax Could Lead To Illegal Trade

Ministers in the region are deliberating a 100 per cent increase in duty on tobacco products.

Emirates Expands Colombo Services

Additional three services a week from June 30 will be operated by B777-300ER aircraft.

Oman Air Orders Three Airbus A330 Aircraft

The order, which will bring Oman Air’s A330 fleet to a total of 10 aircraft, is thought to be worth around $720 million.

Kerry Hails Tentative U.S. Arms Sale To Oman

The U.S. Secretary of State met Oman’s defence minister in the Sultanate on Wednesday to oversee the $2.1 billion deal.

Abu Dhabi Lender ADCB To Price Subordinated Bond

Early price talk for the 10-year deal, which is not redeemable for five years, was released at 230 basis points over five-year midswaps.

Dubai Contractor Arabtec Says Workers End Strike

Thousands of workers stayed away from work from Saturday to demand higher wages.

Abu Dhabi’s Man City And New York Yankees In New MLS Team

Sheikh Mansour-owned City will be the majority partner in New York City Football Club along with the biggest name in baseball, the Yankees.

Qatar’s Doha Bank May Sell Bonds To Raise Capital – CEO

The lender had said in January that it would hike its paid-up capital by 50 per cent.

Solar Power Brightens Oman Oil Output Prospects

The Gulf State has commissioned the Middle East’s first solar enhanced oil recovery (EOR) project.

Bahrain’s Batelco Says CEO Leaves, Former Boss Steps In

Sheikh Mohamed bin Isa al-Khalifa has been temporarily replaced by long-serving Peter Kaliaropoulos

REVEALED: The Biggest Banks In Qatar

Taken from the Gulf Business Top 50 Banks, these are the biggest banks in Qatar by 2012 total assets.

Dubai Is World’s Fourth ‘Hottest’ Retail Market

The emirate welcomed 25 new retailers last year, says new study by CBRE.

IMF: Dubai Will Meet Debt Obligations

The International Monetary Fund’s regional report warns unemployment figures and diversifying economies are still an issue.

Kuwaiti Oil Service Workers On Strike Over Pay

Over 1,000 of around 1,400 staff at Oil Sector Services, owned by Kuwait Petroleum Corporation, have been gathering in a union building.

Qatar National Bank To Start India Operations

The state-owned lender expects to begin operations in the third quarter under the name of QNB India Private Limited.

Aramco Awards Midyan Gas Project To India’s L&T

The project, estimated to be worth less than $300 million, is due to come online in mid-2016.

Dubai’s Drake And Scull Wins $461m Saudi Tower Contract

The twin-tower residential and commercial development will be built in Jeddah’s Corniche area.

Dubai’s Arabtec Says Projects Unaffected By Labour Strike

Thousands of workers have been on strike since Saturday demanding higher pay.

Air Arabia Signs $350m Financing Deal With Gulf Banks

Deal with Qatar National Bank S.A.Q. and Commercial Bank International covers part of a larger order for 44 A320s placed with Airbus in 2007

Gulf Capital To Raise $360m From Islamic Loan

The funds raised will partly be used to buy a new vessel, refinance debt and pay investors dividends.

UAE Announces June 6 Private Sector Holiday

The UAE’s ministry of Labour issued a circular confirming the holiday to mark Isra Wal Miraj.