Kuwait Nominal GDP Grew 29% In 2011, Fastest Since 2005

High crude oil prices helped to boost revenue in the country, according to official data.

First Gulf Bank Signs $900m International Loan

The UAE’s second largest lender secures loan, up from original $800 million after demand from banks.

Qatar Airways Receives First Boeing 787 Dreamliner

The Middle East’s first Dreamliner aircraft arrives in Doha.

Dubai Needs Affordable Shopping Malls

Retail must accommodate middle-class tourists’ needs as their numbers rise, say experts.

Kuwait’s Global Sees Creditors Reject $1.7bn Restructuring Plan

Global Investment House looks at legal options as it undergoes its second debt restructuring in three years.

Drake & Scull Wins Contracts Worth $87 Million

The Dubai firm secures contracts in Saudi Arabia and the UAE ahead of Q3 profit announcement.

UAE Salaries To Grow 5.1% In 2013

Employees in the UAE saw average wage hikes of 5.2 per cent in 2012, says new survey.

World’s Tallest Hotel Opens In Dubai

The 355-metres tall JW Marriott Marquis Hotel opens its first tower, adding 804 rooms to Dubai.

UAE’s Crescent Petroleum To Enter Libya, Lebanon

The company is also looking to expand investment and production in Iraq, its CEO says.

UAE Toughens Law On Internet Dissent

Any person who “derides or damages” the reputation of the state or any of its institutions online will be imprisoned.

Abu Dhabi Rents Drop 6% In Q3 2012

Residential rents in the emirate continue to fall but still remain higher than Dubai, says new report.

Gulf Air Restructures Fleet To Save $2.5bn

Tough economic conditions and Bahrain unrest push Gulf Air to reduce fleet.

US To Overtake Saudi As Top Oil Producer – IEA

Forecasts suggest the States will achieve self-sufficiency in oil and gas and become an exporter by 2030.

Air Arabia Posts 126% Rise In Q3 Profit

The low-cost carrier reported a net profit of Dhs226 million in the third quarter.

Dubai Is Not Worried: Sheikh Ahmed

The emirate sees no need to recapitalise the support fund that helps state-linked bodies, said Sheikh Ahmed, head of the Supreme Fiscal Committee.

Qataris Biggest Luxury Spenders In ME

Residents in Qatar spend up to $5,000 per month on luxury goods, says new report.

Emirates Profit Surges 104% As Passenger Yield Grows

The world’s largest Arab carrier witnessed a turnaround in profits in the first half of 2012 despite continued fuel price pressures.

Saudi King To Undergo Back Operation Next Week

King Abdullah will undergo a back operation to tighten a loose ligament in his back, the royal court has said.

Bahrain’s GIB Picks Banks For Dollar Bond

Gulf International Bank picked JP Morgan Chase, NBAD, Barclays, Standard Chartered and Societe Generale to arrange the deal.

Saudi Arabia Allows Rights Trade On Stock Market

The move comes as the Kingdom prepares to open its stock market to direct investment by foreign institutions.

ADIPEC Round Up – BP, ADNOC And Saudi Announcements

A round up of the day’s news and gossip from the region’s largest oil and gas event.

Dubai’s Commercial Property Sector Picks Up In Q3

Commercial demand is increasing in areas like DIFC and Downtown Dubai, says new report.

Qatar Holding Invests In The Chernin Group

Qatar’s investment vehicle puts a rumoured $100 million into the Peter Chernin-owned media company.

Dubai’s Shuaa Capital Q3 Loss Narrows

The investment bank which has been through three CEOs in the past year posts Q3 loss of $3.78 million.

UAE Frees Hundreds Of Emirati Debtors From Jail

The country has released 290 people convicted of bouncing cheques, reports official WAM news agency.

Saudi Arabia Says Not Aware Of Barclays Probe

US authorities are reportedly investigating whether Barclays made any improper payment to win a banking licence in Saudi.

Qatar’s QNB Issues $1bn Bond

Qatar National Bank said that the bond attracted strong investor interest and was several times oversubscribed.

First Free Sampling Store Opens In Dubai

Sample Central allows members to take products home for free in return for sharing their opinions.

Abu Dhabi Islamic Bank To Price Sukuk Thursday

The lender is set to raise $500 million from its offering after big investor interest for its debut deal.

Emirates May Buy 100 New Model Boeing 777s

The airline’s president Tim Clark has said the carrier could make its most expensive purchase ever from Boeing.