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.

Jumeirah Ends Relationship With Rory McIlroy

The world’s number one golfer parts ways with the Dubai hotel group as Nike beckons.

Abu Dhabi’s TAQA Buys 50% Interest In US Wind Power Project

The acquisition of the 205.5MW Lakefield wind project in Minnesota is expected to close in Q1 2013.

Tiger Woods To Begin Season In Abu Dhabi

The former world number one will compete for the $2.7 million prize at the Abu Dhabi Golf Club on January 17.

Emirates NBD Islamic Unit In Rights Issue

Dubai’s biggest bank will offer 1.5 billion shares at Dhs1 each between January 25 and February 3.

UAE Produced 2.8m BPD Of Oil In December

Oil minister Mohammed al-Hamli said he hopes production capacity will reach 3 million bpd this year.

Qatar Airways’ Al Baker Dismisses Dreamliner Concerns

The carrier’s chief executive has said he is not worried by the latest faults to affect Boeing’s 787 aircraft.

Dubai Announces Drive To Develop Islamic Business

The emirate plans to form a committee to work on six major initiatives under the project.

Saudi’s Shura Council To Appoint 15 Women Members

The Kingdom’s Shura Council is expected to announce the names next week, says report.

Etihad Profits From South China Exports

Etihad Cargo announces new direct weekly freighter operation from Abu Dhabi to Guangzhou.

UAE Discussing Rafale Jets With France

The on-off negotiations over 60 fighter jets have been ongoing for several years.

Further Problems For Boeing Dreamliner Aircrafts

Two more 787s have been grounded after mechanical problems and fuel leaks.

Accor Targets KSA Mid-Market Growth

Accor’s latest contract targets underserved sector

Qatar Considers Helping Build Turkish LNG Plant

A feasibility study is currently being carried out on the proposed project.

Oman Plans To Merge State Pension Funds

The Gulf state aims to merge eight state-run pension funds to improve efficiency.

Gulf Airlines Battle For Polish Business

Gulf carriers are looking to capitalise on national carrier LOT’s precarious commercial situation, and others regionally