The Kuwaiti telecoms operator made a net profit of $255 million during the first quarter of this year.
UAE’s luxury watch retailer Ahmed Seddiqi & Sons has acquired Abu Dhabi-based jewellery chain, Al Manara.
The Gulf carrier reduced its Airbus A350 order, cancelling aircraft worth $2.3 billion at current list prices.
Hotels in the Saudi Arabian city saw average occupancy rates of 81 per cent during the month.
The Gulf states have assured South Korea that they will make-up for any shortfall of oil supply from Iran.
The international hotel operator is planning to add 13,000 new rooms to the region by 2017.
Dubai-based Shuaa Capital reduced losses by 67 per cent year-on-year in the first quarter of the year.
Cosmetics and perfume shops in the Kingdom will only be allowed to employ women staff from June 30.
UK defence firm BAE is close to signing a deal to sell up to 30 Hawk aircraft to Saudi Arabia, according to reports.
The low cost carrier recorded a net profit of Dhs49.2 million during the first quarter of the year.
Dubai’s Mall of the Emirates will host Prada’s third biggest store worldwide and American pancake house IHOP.
An Arabtec consortium is in final talks for a $3 billion contract to expand Abu Dhabi’s international airport.
The airport is increasing measures to cater to the rising number of visitors from the Gulf.
The capital raised in Q1 2012 was almost four times higher than Q1 2011, but 63 per cent lower than Q4 2011.
The Gulf countries are discussing means to improve regional security issues.
The Omani telecoms company reported a net profit of $75.58 million during the first quarter of the year.
The Dubai utility received several Expressions of Interest (EOIs) from international firms for 10MW plant.
Dubai’s Drydocks World has signed an agreement with a Swiss firm to build the new hotels.
Ian Johnston will take over from Paul Koster, who completes his term at the financial services regulator.
Compared to the rest of the world, GCC nationals on average spend 260 per cent more on airfares.
The Abu Dhabi-based private jet operator has partnered with a UK based travel firm to offer luxurious holiday packages.
Emirates Airlines will acquire other carriers at “the right time,” its chairman Sheikh Ahmed Al Maktoum has said.
The low cost carrier is planning to hike ticket prices due to increasing fuel costs, said its CEO, Ghaith al-Ghaith.
Exclusive: Libyan economy minister wants to follow the UAE’s country model to attract foreign direct investment.
Kuwait’s government has proposed wage increases of up to KD330 per month for private sector workers.
The emirate’s hotels also recorded a nine per cent rise in guest numbers during the first quarter of the year.
Saudi Arabia expects the project to be completed in 2015, the General Authority for Civil Aviation has said.
Dubai will use the proceeds from its $1.25 billion Sukuk to expand its airport, according to Sheikh Ahmed al Maktoum.
The emirate is aggressively developing its hospitality sector and aims to attract 2.5 million visitors by 2015.
Last year, 80 per cent of the Gulf travellers visited the German city for medical reasons.
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