Qatar LNG Producer Rasgas Office PCs Hit By Virus

The company confirmed that operational systems both onsite and offshore are secure and that production is not affected.

Qatar Telecom Repays $3bn Loan Facility

The state-owned operator repaid the five-year syndicated term loan from existing funds.

Qatar-Barclays Payments Face Fraud Probe

Fees from Qatar Investment Authority paid to the British bank are being scrutinised by the UK’s Serious Fraud Office.

Yemen Says Saudi To Donate $1bn To Support Currency

The money will be placed in the Yemeni central bank and will support the country’s economic recovery, a Yemeni minister said.

Qatar Has Highest Construction Costs In ME

The increasing volume of activity in the build-up to the 2022 FIFA World Cup has pushed up costs in Qatar, says study.

UAE Healthcare Firm NMC’s H1 Profit Jumps 21%

The company made a net profit of $27.5 million in the first six months of the year.

DP World’s H1 Profit Flat, Cites Global Climate

The Dubai-based port operator made a profit of $247 million in the first half of the year.

ENOC Announces 40 New Petrol Stations For KSA

The Kingdom’s own oil company responds to worsening revenue in the Gulf with new stations.

EXCLUSIVE: Phil Broad Resigns From Jumeirah Restaurants

Exclusive: The managing director of the successful chain is joining the InterContinental Hotels Group.

Dubai Court Approves Drydocks $2.2bn Debt Plan

The Dubai World Tribunal formally approved the restructuring of shipbuilding unit Drydocks World.

UAE To Boost Oil Production Capacity

The country plans to increase crude oil production capacity to 3 million barrels per day over the next few months.

Nakheel Refunds $57m To Investor Who Bought Three Islands

Dubai World tribunal orders Nakheel to repay Shokat Mohammed Dalal the sum he paid to reserve three islands on The World in 2008.

Saudi Deals Boosted US Arms Sales To $66.3bn In 2011

The Kingdom bought weapons worth $33.4 billion from the US last year, says new report.

Bahrain’s Gulf Air Posts 6% Rise in H1 Revenue

Bahrain’s loss-making national carrier announced that revenues and passenger numbers rose during the first half of the year.

Kuwaiti Firm Alleges Carlyle Sold Fund Without Licence

Kuwaiti investment firm NIG is now seeking approval for its lawsuit against Carlyle to be heard in Kuwait rather than the US.

Saudi Aramco Says Virus Damage Fixed; Oil Output Unaffected

A virus infected about 30,000 of the oil producer’s workstations in mid-August, forcing the company to cut off external communications.

Zain Confirms Vodafone Roaming Talks

The Kuwaiti-network is expected to agree a non-equity deal with the operator giant to share its network.

UAE Residents Find Online Banking “Safe”

According to a new survey in the UAE by Western Union, 76 per cent of the respondents find internet banking safe.

Yemen’s Aden Port To Cancel DP World Deal -Official

The two parties will use international arbitration if they are unable to reach an agreement, says official.

Saudi Arabia Plans Metro System In Jeddah

The metro system, the third one planned in the Kingdom, is estimated to cost around $9.3 billion.

Oman Growing, But Diversification Is Vital

The county is estimated to post a GDP growth rate of six per cent in 2012, according to a study by Kuwait Finance House.

Etihad Starts Daily Flights To Tokyo, Casablanca

Abu Dhabi’s flag carrier announces daily services will begin early next year.

Dubai Higher Committee approves allocation of 2000 residential land plots

Dubai Property Value Drops In H1

The net value of properties assessed by the Dubai Land department dropped 26 per cent year-on-year.

Biggest Banks In Kuwait

Banks are slowly recovering from the 2008 fall out but the impact of a major government spending spree is yet to be fully realised.

Biggest Banks In The UAE

Higher capitalisation and new profits in the UAE are threatened by the Eurozone and weak global growth.

Biggest Banks In Saudi Arabia

Strong government regulation and hefty public spending have buoyed the Kingdom’s banking sector.

Biggest Banks In Qatar

Massive public spending and impressive GDP growth saw a bumper year for Qatar’s banking sector.

Biggest Banks In Oman

Increased consumer lending and new banks will put the country on a solid footing this year.

Biggest Banks In Bahrain

Bahrain faces sluggish growth and a rise in non-performing loans due to the fallout from political unrest.

Qatar Buys 22% Stake In China’s CITIC Capital

CITIC, partly owned by China’s sovereign wealth fund, did not give financial details of the investment.