Saudi Ready To Up S Korea Oil Supply

Saudi Arabia might increase crude oil supplies to South Korea as Seoul looks for alternatives to Iranian oil.

Consumer Confidence Drops

Confidence decreased substantially in Saudi Arabia during the last quarter of 2011, according to Nielson.

Emirates Eyes $517mn Loan

The airline is planning an Islamic loan facility to fund two of its planes, according to reports.

UNB’s Q4 Net Profit Drops

The Abu Dhabi lender’s profits fell 19.2 per cent to Dhs135 million during the fourth quarter of 2011.

The National Investor Sheds Workforce

Abu Dhabi-based investment firm may shed more than half of its staff.

Etisalat May Sell African Towers

The telecoms operator might also share infrastructure facilities with other carriers.

Citi To Increase Dividends

Prince Alwaleed, Citigroup’s biggest individual shareholder, said that he expects the bank to increase dividends this year.

World’s Tallest Tower In Dubai

Tameer Princess Tower is the highest residential building on earth at 414 metres.

UAE, Qatar Stop Trade Finance To Iran

The move follows the stringent financial and trading sanctions imposed by the US and EU on Iran.

UAE To Cap Credit Card Interest Rate

The UAE’s central bank is reportedly planning to limit credit card interest rate at 18 per cent annually.

Qatar’s GDP Grew 19% In 2011

According to the IMF, Qatar’s economy is expected to grow six per cent in 2012.

MAF Launches $400mn Sukuk

The mall operator is undertaking several new projects across the Middle East this year.

Oman Plans 230km Gas Pipeline Project

The pipeline will supply gas to the town of Duqm and is estimated to cost around $200- 220 million to build.

Bahrain’s Gulf Air To Downsize

The airline’s CEO said that it was unlikely that the struggling carrier would be dissolved or sold.

NBK Posts Flat 2011 Profits

The Kuwaiti bank reported a net profit of KD302.4 million in 2011 compared to KD301.7 million in 2010.

Saudi Can Cover Oil Shortages

The kingdom’s oil minister has said that rising domestic demand will not affect crude oil exports.

UAE To See 4% Growth in 2012

According to the country’s Economy Minister, the Arab Spring has spurred growth in the UAE.

QIA To Buy Credit Suisse London HQ

Qatar’s sovereign wealth fund is expected to acquire the property in a “few weeks.”

Oman May Sell Crude To Sri Lanka

The country is scrambling to find an alternative to its threatened primary supply from Iran, Oman’s oil minister has said.

Batelco Records 8% Fall In 2011 Profits

The Bahraini firm saw its subscriber base increase by 20 per cent year-on-year in 2011.

Kuwait Partners With Total for China JV

The $9 billion refinery project in China is expected to produce 300,000 barrels per day of crude oil.

Kuwait To Privatise Stock Exchange

The move will make the bourse the second publicly traded stock exchange in the region.

Bahrain Airshow Nets Deals

The signing of $930 million worth of trade deals at the Bahrain International Airshow has raised expectations for 2014.

GCC Tourists Boost Abu Dhabi

Abu Dhabi has recorded its most successful year ever in terms of hotel guest arrivals with some 2,111,611 visitors.

Kingdom Budget Surplus

Saudi Arabia almost doubles income forecast, announcing a budget surplus of $81.6 billion for 2011.

Saudi, Spain Sign $8.2bn Rail Deal

The Spanish consortium won the bid to build the second phase of the HHR.

Qatar Acquires Two Raffles Hotels

Qatar Nationals Hotels Company took over properties in Paris and Singapore.

Bearish 2011 For UAE Stock Markets

The value of shares traded reached its lowest level since 2004.

$2bn Boost For Oman’s Solar Power

Swiss and German investment funds are undertaking the project.

SMEs Fight for Funding

As the UAE climbs into steady recovery, is it any easier for small businesses to access bank lending?