Facebook Acquires Messaging Service WhatsApp For $19bn

The social networking site says the move is aimed at accelerating growth in both the companies.

Kuwait Airways Signs Contract To Buy 25 Airbus Jets

The order includes 10 A350-900 and 15 medium-haul A320neo airliners.

Saudi Arabia Jails Seven Men For Demonstrating

The men had been also convicted of chanting slogans against the Kingdom.

Saudi Arabia, Malaysia Exchanges To Boost Islamic Finance Ties

An agreement will see the exchanges share expertise and develop human capital.

Nakheel Says Retailers Book 40% Of New Mall On The Palm

The developer confirmed that 120 retailers have booked spaces at Nakheel Mall.

Mashreq, Visa Launch 2014 FIFA World Cup Branded Cards

The branded credit and debit cards will introduce a new rewards programme for users.

Bahraini Man Sentenced To Death Over Policeman Killing

Six others were sentenced to life imprisonment for the killing of a policeman after a protest last year.

BAE Systems Agrees Pricing On Saudi Eurofighter Deal

The original contract had to be renegotiated after Saudi requested more advanced weaponry and equipment for the Typhoon fleet.

Iran, World Powers Work Out Details Of Nuclear Talks In Vienna

The negotiations could help defuse years of hostility between energy-exporting Iran and the West and open up major business opportunities for Western firms.

StanChart Singapore Head To Join Bahrain-Based Arab Banking Corp

Ray Ferguson joins the ABC Group after working with Standard Chartered for 28 years.

Dubai’s Inflation Rate Edges Up In January

Dubai’s inflation rate rose month-on-month by 0.49 per cent in January, driven by housing and utility costs.

UAE Firm Eyeing ‘Big’ IPO On Nasdaq Dubai In 2014

The new listing could revive the struggling platform, says senior lawyer.

Dubai Agrees Roll-Over Of $10bn Crisis Debt To UAE – Sources

The emirate borrowed the money five years ago and the debt is due to mature next month.

Abu Dhabi Rents Shoot Up In Q4 2013

One-bedroom units in the emirate recorded the highest rise in rates as rents rose by 11 per cent in the last quarter.

Kuwait Telco Wataniya Q4 Profit Jumps 46%

Wataniya made a net profit of 18.4 million dinars ($65.3 million) in the three months to December 31, 2013.

Dubai’s Arabtec Says Its Unit Wins $272m Kazakh Contract

The Abu Dhabi Plaza development in Kazakhstan is under construction by a joint venture of Arabtec and Consolidated Contractors Co.

Shell Sells Australian Downstream Oil Assets For $2.2bn

Abu Dhabi Investment Council and Dutch-owned oil trader Vitol have reportedly bought Shell’s downstream Australian assets.

Babyshop To Open 15 New UAE Outlets By 2016

The kids’ retail store, part of the Landmark Group, currently operates 40 stores in the UAE.

Qatar Airways To Launch Business Class Flights To London

Doha carrier will be first Gulf carrier to operate a purely business class service on the high-density route

Kuwait’s KIPCO Q4 Net Profit Up 75%, Helped By Pay-TV Asset

Net profit in the three months to the end of December was 14 million Kuwaiti dinars ($49.7 million).

Emaar, Abdul Latif Jameel Create JV To Develop Projects In Saudi

The new entity, called Emaar Jameel, will focus on developing integrated real estate projects in the Kingdom.

Du Looks To Buoyant UAE Economy For Future Growth

The telecom operator currently claims 46.4 per cent of mobile subscribers in the UAE.

Dubai’s Property Market Sees Strong International Investor Interest

Along with domestic buyers, Dubai’s real estate market is recording a rise in institutional investors.

Different Arab money

Islamic Development Bank Picks Banks For Potential Sukuk

Islamic Development Bank (IDB) has picked seven lenders to arrange meetings with fixed income investors.

Saudi Utility Starts Power Output From Ras Al Khair

Power production at Ras Al Khair was expected to start in late 2012 but was delayed by construction issues.

Saudi To Lend $57.8m To Pakistan For Hydro Power Project

The Kingdom will also provide Pakistan a credit facility of $125 million for the import of urea.

Qatar’s Doha Insurance Gets Shareholder Nod For $120m Rights Issue

The plan will see 24,260,000 new shares offered to shareholders at a price of QAR18 per share.

Oman To Replace 100,000 Expats In Private Sector Jobs

The Sultanate is looking to reduce its expat work force to 33 per cent from its current level of 39 per cent, a senior official said.

New Abu Dhabi Finance Centre Appoints DFSA COO As Advisor

Jan Bladen has been appointed executive adviser and programme lead at Abu Dhabi Global Market.

Saudi Arabia’s MERS Death Toll Reaches 60

The latest casualty to succumb to MERS virus in Saudi Arabia was a 22-year old man, according to health authorities.