Dubai Raises $675mn For Tram Project

The proceeds from the dual-currency loan will be used to fund the first phase of the Al-Sufouh project.

Al Jaber CEO To Be Replaced: Sources

Abu Dhabi-based Al Jaber Group may hire a new CEO as part of a $1 billion restructuring plan, according to sources.

$100mn Boost For Saudi’s Al Raya

Levant Capital and Citi Venture Capital International have acquired a major stake in the Al Raya supermarket chain.

Oman Owes Gulf Air $310mn

The Bahraini carrier said that the sum has been outstanding from the time Oman pulled out of Gulf Air in 2007.

DP World Eyeing $1bn Loan: Sources

The company is reportedly in talks with banks for a loan to repay its $3 billion deal that matures in October.

Abraaj Eyeing Turkey’s Calik

Dubai-based Abraaj Capital is planning to bid for Calik Holding’s media assets, according to sources.

DIFC Looks To Asia For Growth

The financial centre welcomed 56 new companies in 2011 and is eyeing companies from emerging markets.

CME, Oman Fund Raise DME Stake

The cash injection into the Dubai Mercantile Exchange (DME) has diluted the stake of Dubai Holding.

Etisalat May Restructure

The telecoms operator said it is discussing restructuring options as it struggles to stall dropping profits.

QIA Buys Credit Suisse London HQ

Qatar’s sovereign wealth fund acquired the building for an undisclosed sum and has now leased it back to the bank.

ENBD Plans Renminbi Bond Sale

The bank has mandated Emirates NBD Capital, HSBC and Standard Chartered Bank to arrange investor meetings.

Abraaj Acquires Aureos Capital

The transaction is set to create the world’s largest SME focused private equity group.

ME’s Wealthy On The Rise

The region may even top the world in terms of growth of wealthy individuals this year, according to experts.

Gulf Funds Eyeing ONGC Stakes

Sovereign wealth funds from the UAE and Kuwait have reportedly agreed to buy stakes in India’s ONGC.

DIFCI Hires Advisors For $1.25bn Bond

The DIFCI bond is in the spotlight as investors weigh Dubai’s refinancing risks in 2012.

Egypt Signs $3.2 bn IMF loan

Egypt expects to sign the IMF loan next month and will receive one-third of the funds immediately upon signing, said minister.

The Islamic And Conventional War

In the battle for customers during the recession, conventional and Shariah-compliant banks have sharpened their game.

MENA Gains Momentum

The region’s finances are back on track said the London Business School in Dubai.

ENBD Q4 2011 Profit Fall

The bank reported that net profit for the full year increased by six per cent from 2010.

A damp 2011 For GCC IPOs

Issuers and investors remained wary of volatility in the capital markets, according to PwC.

QNB Prices $1bn Bond

The bond was five times oversubscribed and received orders from more than 270 investors globally.

Dubai Will Support State Entities

The Dubai government will continue to help government-related bodies, says Sheikh Ahmed bin Saeed al-Maktoum.

Oman MoH Signs Deals Worth $3.9mn

The agreements were signed between Oman’s health ministry and Oman LNG.

Kuwait’s Central Bank Governor Resigns

Sheikh Salem Abdul-Aziz al-Sabah blamed a rise in public spending for his decision.

Mashreq Loans $80mn To Gulf Air

The struggling Bahraini carrier will use the amount to meet its medium-term capital needs.

SABIC, Sinopec In $5.3bn Contract

The two companies are in negotiations to build a methanol complex in Trinidad and Tobago.

Etihad Reports $14mn Net Profit

This is the first time that the UAE airline, started eight years ago, has recorded a profit.

US Firm Wins $8.2bn Qatar Contract

Colorado-based CH2M Hill has won the FIFA World Cup construction management contract.

Eurozone Is A “Train Wreck”

Prominent economist Nouriel Roubini has predicted that the Eurozone will collapse in a few years.

Dhs2.1bn Surplus For Dubai Municipality

The civic body said that cost-cutting measures were implemented to achieve a budget surplus in 2011.