Nike Unveils McIlroy Sponsorship In Abu Dhabi

The golfing star has split from previous sponsor Jumeirah and joins Tiger Woods.

Obama Meets New Saudi Minister At White House

The President of the United States met with Prince Mohammed bin Nayef to discuss security issues.

Saudi Names New Governor For Oil Region

Prince Saud bin Nayef is the new governor of Eastern Province, taking over from Prince Mohamad bin Fahad bin Abdulaziz.

Riyad Bank Q4 Profit Misses Forecasts

The Saudi lender reported a rise of 4.1% in net with full year growth of 10.1 per cent.

Qatar Flying Dreamliner To Munich, Zurich And Frankfurt

Four European routes now feature the aircraft, which remains the subject of an FAA review

China To Join UAE-Based IRENA

The International Renewable Energy Agency (IRENA) now has 160 participating countries.

Doha Bank Sells Shares To Increase Capital

The Qatari bank will hold a local rights issue as it plans to match the capital levels of its peers.

Morgan Stanley To Trim Dubai Staff Amid Global Cuts

The bank plans to slash 1,600 jobs globally to reduce costs.

Dubai Airport’s Terminal 1 To Receive Upgrade

Once the refurbishment of Terminal 1 is complete next year, it will be linked via a new elevated train system to Concourse D, which is currently under construction.

New UAE Mortgage Rules Seen Positive For Banks

The UAE central bank reportedly plans to issue broad regulations for the housing mortgage industry this year.

Rotana Eyes Bahrain Recovery

Operator maintains that while occupancies in Bahrain have reduced year on year, business opportunities remain.

Abu Dhabi Plans 5,000 New Jobs For Emiratis In 2013

The Abu Dhabi Executive Council has announced a Dhs330 billion financial injection to fund various projects and initiatives in the emirate.

Mobily Awards $256m Contracts To Ericsson, Huawei

The Saudi operator accounted for 41 per cent of Saudi telecom revenue in the first nine months of 2012.

Oil Revenue Puts Kuwait’s Budget Surplus At $52bn

Total revenue for April-November was 21.6 billion dinars while spending reached a mere 6.9 billion dinars.

UAE Central Bank Plans Broad Mortgage Rules By Mid-2013 – Sources

The new regulations are expected to include the mortgage caps introduced by the central bank late last year.

QNB Posts 11.1% Rise In 2012 Net Profit; Plans To Hire Thousands

Qatar National Bank, the Gulf state’s biggest lender, made a record net profit of QAR8.3 billion last year.

Kuwait Investment Authority Had $261bn Assets In 2012

Kuwait’s Future Generations Fund is a nest egg for when the economy suffers shocks.

Qatar Airways Sells Cargolux Stake To Luxembourg

Qatar Airways bought the 35 per cent stake last year and sold it back for the original price of $117.5 million.

UAE’s TAQA Buys Stake In India Hydro Plant

The Abu Dhabi National Energy Company has acquired an interest in Himachal Sorang Power Limited for an undisclosed sum.

Kenya Sees 96.3% Rise In UAE Visitors

A total of 32,865 people arrived in Kenya from the UAE in the first ten months of 2012.

Saudi’s Kingdom Holding Completes $80m Land Sale

The company made a profit of SAR185 million on the sale of the land located near Riyadh.

Eastern Mangroves Opens Dhs55,000-a-night Suite

Luxury two-floor facility targets government ministers, VIPs and celebrities.

Dubai’s DFM Up 20% In 2012

The Dubai bourse was the GCC’s best performing stock market.

France’s Hollande In UAE Visit For Total

The French President will meet Sheikh Khalifa bin Zayed al-Nahayan to help Total win a $10 billion deal.

UAE Expected To Invest Millions In Serbia

The UAE will sign a deal next week concerning Serbia’s weapons industry worth $132 million.

Qatar Calls For Arab Force In Syria

Sheikh Hamad bin Jassim al-Thani said Arabs “must think seriously” about resolving the crisis.

Dubai Economy Bets On Superjumbo Air Travel Boom

The emirate has just opened the world’s first airport terminal purpose-built to handle Airbus A380 planes.

Tiger Woods Excluded From Qatar Masters

Qatar Golf Association refuses to meet the former world number one’s $3 million fee.

Crescent Petroleum Supports Dana Gas Restructuring

Abu Dhabi-listed Dana reached an agreement with creditors to amend terms of a $920 million Islamic bond.

Etihad Sees Busiest Day For Passengers

The Abu Dhabi airline set a new record for the number of people it carried in a single day.