Emirates Signs 5-Year Sponsorship Deal With Barcelona Open

As part of the deal, the airline will have promotional rights to branding and digital elements of the tennis tournament.

YouTube Users In MENA Can Now Monetise Original Content

The video-sharing website has started its partner programme in Saudi Arabia, UAE and Egypt.

Dubai’s DEWA Says No More Sukuk Issues Before 2015

DEWA’s $1 billion Islamic bond issued in February drew very strong demand.

Qatar Airways Expands In Iraq

The new capacity raises its Iraq network to five destinations and frequencies to 20 weekly services

Dubai’s DMCC Launches Islamic Commodity Trade Platform

The platform allows trading of warehouse receipts, which represent ownership of commodities stored at warehouses.

UAE Oil Firm Lamprell Fined Dhs13.3m By London Regulator

The UK’s Financial Services Authority said Lamprell failed to inform the market of its deteriorating financial position on time.

Dubai’s DP World Posts 21% Profit Growth For 2012

The company’s profit was boosted by a $249 million gain from sale of non-core assets.

Saudi Labour Reforms Add 600,000 Private Sector Jobs

Unemployment among men last year dropped to 6.1 per cent, the lowest figure since 2000.

Dubai-Based GFH Capital In Talks To Sell Leeds United Soccer Club

GFH Capital purchased the club from majority shareholder Ken Bates at the end of last year.

US Fertilizer Firm Enters Phosphate Joint Venture In Saudi Arabia

US-based Mosaic Co plans to invest up to $1 billion in a joint venture with Saudi firms Ma’aden and SABIC.

Abu Dhabi’s Kizad On Track To Generate 150,000 Jobs

Khalifa Industrial Zone Abu Dhabi has signed deals with 50 local and international companies, says CEO.

New Sri Lankan Airport Takes Flight With UAE Low-cost Carriers

New airport aims to boost business development along eastern and southern coasts and take pressure off Colombo

Oman’s Bank Muscat To Price $500m Bond

Despite attracting more than $2.5 billion of demand so far the size of the bond will not be increased.

Abu Dhabi’s Al Hilal Bank To Issue Sukuk In Q3

The lender expects to obtain a credit rating in the coming two or three months.

Drake And Scull Wins Saudi, UAE Contracts Worth $100m

The contracts include Dhs287 million worth of work awarded by Al Rajhi Bank to construct facilities in Riyadh.

Occidental Sees $200m Q1 Hit Due To Qatar Maintenance

First-quarter sales volumes will be down by around 40,000 bpd partly due to production issues in the MENA region.

Investcorp Struggling To Sell Armacell Amid Lower Bids

Potential buyers Charterhouse, HgCapital and Pamplona were likely to submit bids 100 million euros under its price tag.

Dubai’s ICD Launches $2bn Loan Refinancing

The five-year senior unsecured financing will replace the remaining $2 billion five-year tranche of an original $6 billion loan.

Qatar’s CBQ To Buy 71% Of Turkey’s Alternatifbank

The value of the transaction is seen at around $460 million.

Qatar Not Considering Bid For Marks & Spencer – Source

Reports claimed Qatar Investment Authority was seeking a consortium for an £8 billion takeover of the British retail store.

Exclusive: Starwood Eyes Rocco Forte Hotel Abu Dhabi

Starwood confirms discussions are ongoing as market speculation increases that the striking hotel will soon be converted to a Sheraton

Ramadan In UAE To Start On July 10

The crescent moon will be seen on July 9, signaling the start of Ramadan the next day. Eid Al Fitr holiday will commence on August 9.

Trade Between Arab Region, Brazil Hits $26bn In 2012

Trade flows between the regions increased by 3.26 per cent in 2012 compared to the previous year.

Air Seychelles Records $1 Million Profit

Etihad’s 40 per cent stake in the airline a year ago has produced a financial turnaround

Dubai Developer Emaar’s 2012 Apartment Sales Double

Emaar made a revenue of Dhs2.5 billion from apartment sales last year, compared to Dhs1.1 billion in 2011.

Current Oil Prices Will Not Deter Asia Growth – Saudi’s Naimi

Naimi’s comments follow recent warnings that weak economic growth could hobble global oil demand this year.

Libya Halts Telco Management Contract – Etisalat CEO

Etisalat is keen on winning the contract to run state-owned Libyan Post, Telecommunication and Information Technology Co.

Saudi Shipper Bahri Eyeing Debut Islamic Bond

HSBC’s Saudi Arabian unit, JP Morgan Chase and Samba Financial Group are frontrunners to manage the sukuk sale.

Qatar To Increase FIFA 2022 Spending In 2013

Government spending related to the World Cup will hit almost $115 billion between now and 2022, says new study.

UAE Opens World’s Largest Concentrated Solar Power Plant

The 100-megawatt, grid connected power plant, Shams 1, will generate clean energy to power 20,000 homes in the UAE.