Aabar raises Arabtec Stake

The move makes the Abu Dhabi-based sovereign wealth fund one of the largest shareholders in Arabtec.

UAE Bank Deposits Rise

Total bank deposits in the UAE reached Dhs1,069.7 billion at the end of December 2011, according to the central bank.

Saudi Foreign Trade To Grow

The kingdom’s foreign trade revenue amounted to SR1300 billion in 2011 and is set to rise by 14 per cent this year.

Korea Gets UAE Oilfields Stake

A Korean consortium has signed a deal with ADNOC to acquire a 40 per cent stake in three oilfield projects in the UAE.

New Commissioners At Kuwait’s CMA

Kuwait’s controversy-ridden stock market regulator, Capital Markets Authority (CMA), has appointed three new commissioners.

UAE Warns About Herbal Products

The health ministry has said that many herbal products may contain harmful drugs and are also packed in unhealthy conditions.

Saudi Raises Crude Prices For Asia

Saudi Arabia has increased the price of its Arab Light crude oil for customers in Asia by $1.25 a barrel for April.

DFM Sees Rising Activity

The value and volume of shares traded on the Dubai Financial Market increased in February.

UAE Residents Unhappy With Pay

Many people in the country are dissatisfied with their current financial position, according to a Bayt.com-YouGov survey.

RBS Ends Tie-Up With Rasmala

Royal Bank of Scotland said it no longer requires equity research on Middle Eastern companies from Dubai’s Rasmala Investment Bank.

IPIC Signs $850mn Loan

Abu Dhabi’s International Petroleum Investment Company is refinancing the $850 million, three-year loan it signed in February 2009.

Shopping Festivals Bring In Tourists

Hotels in Dubai and Jeddah saw occupancy levels rising in January 2012, according to TRI Hospitality Consulting.

Drydocks To Offer $2.2bn Debt Plan

Dubai’s Drydocks will present its restructuring plan for its $2.2 billion loan facility next week.

UAE’s Non-Oil Trade Rises

The country’s non-oil trade reached Dhs759.8 billion during the first ten months of 2011.

Kingdom Holding Plans Bond Sale

The Saudi company owned by Prince Alwaleed bin Talal plans to tap debt markets through sale of either conventional or Islamic bonds.

Standard Chartered Sees UAE Growth

While the bank’s income from the country rose seven per cent last year, expenses also increased by six per cent.

Noor Islamic Has Ended Ties With Iran

Dubai-based Noor Islamic Bank clarified that it has ended all business relations with Iranian banks.

US Targets Dubai Bank Over Iran

Noor Islamic Bank has reportedly been forced to cut off its banking business with Iran by the US Treasury.

Mumtalakat Head Quit Over Differences

The head of Bahrain’s sovereign wealth fund reportedly resigned because of differences with the board.

New System To Check Prices In UAE

The Ministry of Economy will now be able to monitor the flow of essential goods and their prices across the country.

$293mn Boost For Saudi SME’s

The Saudi Industrial Development Fund has reportedly approved 13 loans to start nine new projects in the kingdom.

Lacoste Builds ME Brand Presence

The brand hopes to increase its regional visibility by continuing to sponsor events like the Dubai Duty Free Tennis Championship.

Abraaj Consortium Eyes Viking

The UAE-based private equity firm is holding talks to acquire Viking, an integrated oilfield service company.

Almarai May Increase Pepsi JV Stake

The Saudi dairy company is currently in talks Pepsico to up its 48 per cent stake in IDJ, their joint venture firm.

UAE Traffic Fatalities Drop In 2011

The number of people killed in traffic accidents fell by 12.8 per cent last year, according to the interior ministry.

Mumtalakat Head Resigns

Talal Al Zain is leaving Bahrain’s $9 billion sovereign wealth fund to set up an investment firm.

Mannai’s 2011 Profits Soar

The Qatari conglomerate saw net profits for the year increase by 21 per cent year-on-year to reach $76.6 million.

ABC Islamic Bank Nets $8.1mn Profit

ABC Islamic Bank announced a net profit of $8.1 million for 2011, based on lower provisioning.

Investcorp Close To Selling US Mall

The mall is part of a mixed-use development project located in Bellevue, Washington, that Investcorp invested in five years ago.

Nomura To Offer Tadawul Access

The Japanese bank has received approval to offer foreign investors access to Saudi Arabia’s bourse.