Dubai Telco Du Gets $1.17bn In Refinancing, Fresh Loans

The deals include a $720 million package and agreements with Standard Chartered Bank and DBS Singapore.

Revealed: Top 10 Billionaires In The GCC

Saudi billionaire Prince Alwaleed again ranks first in the region on Forbes’ annual list of the world’s billionaires.

Le Royal Méridien Abu Dhabi To Unveil New Lobby

Hub designed to promote guest interaction, showcase arts and offer day-and-night F&B

UAE Officer Among Three Policemen Killed In Bahrain Blast

A bomb detonated during a protest in a village west of the capital Manama.

Cybercrime Hits Financial Firms Hardest – Survey

Some 45 per cent of financial firms were victims of fraud last year, PwC’s 2014 global economic crime survey showed.

DMC, DIC Land Prices Rose Around 30% In 2013 – TECOM CEO

Land prices in areas such as Studio City rose 15 to 20 per cent.

Oman Targets Big Rise In Gas Output Over Next 5 Years -Official

Oman aims to raise gas output to an average of 120 million cubic meters per day (mcm/d) over the five-year period from 2014 through 2018, according to an official.

Kuwait Fines Ahli Bank Chairman $5.3m Over Insider Trade

The Court of First Instance fined Ahmed Yousef Behbehani after a complaint by the Capital Markets Authority (CMA).

UAE’s Aramex Wants Gulf Customs Rules Amended To Aid E-Commerce

The current regulations only allow small shipments, such as parcels sent by online retailers, to be cleared by customs.

Dubai’s Al-Futtaim Wins Control Of Kenyan Motor Firm CMC

The 91 per cent acceptance means Al-Futtaim will hold 533 million shares in CMC, which distributes Ford, Suzuki and Volkswagen vehicles among other brands in the region.

Foreigner Killed At Workers’ Holding Facility In Saudi Arabia

Saudi Arabia is holding thousands of foreign workers who failed to correct irregularities in their work visas before an amnesty expired in November last year.

UAE’s Al Noor Hospitals Targets Home Growth In 2014, As 2013 Profit Edges Up

Revenue for the group, which operates three hospitals and 12 clinics in the UAE, rose 12.5 per cent year-on-year to $365 million in 2013.

Majid Al Futtaim Launches First Community Mall In Dubai

The mall will be built in phases with the first phase measuring almost 300,000 square feet.

Etihad Reports $62m Profit In 2013

The airline benefited from a 30 per cent increase in partnership revenues, to $820 million, as its equity alliance stable rose to seven airlines.

Etihad CEO Gives 50-50 Chance For Alitalia Deal

Talks between the airlines intensified last month and sources close to the matter said Etihad might be interested in buying a stake of up to 40 per cent in the Italian carrier.

Etihad CEO Says At Final Phase Of Due Diligence On Alitalia

Etihad would have to be convinced that Alitalia could be moved to profitability, the Abu Dhabi airline’s CEO James Hogan told reporters.

Flydubai Profit Soars By 47%

The low-cost airline announced full-year 2013 net profit of Dhs222.8 million.

Oman’s Bank Muscat Plans $1.3bn Islamic Bond Programme

The bank will seek shareholder approval for its sukuk programme at a meeting on March 19 and regulatory approval thereafter, local media reported.

Oil Jumps Over $2 As Ukraine Mobilises For War

Continued tensions in Ukraine have caused energy prices to rise and financial markets to decline.

Bahrain Eyes External Sharia Audits For Islamic Banks

Regulators around the world are increasing their scrutiny of Islamic finance, including the boards of sharia scholars who rule on whether activities follow religious principles.

Al Maha Wins Oman Air Fuel Supply Deal, Shell Loses

Shell Oman Marketing Company previously supplied half of Oman Air’s fuel at Muscat airport.

SAP MENA Expands Mobility Unit, Signs Deals With STC, Etisalat

The enterprise solutions provider signed deals with STC and Etisalat at the Mobile World Congress.

Air Arabia Prepares For RAK Take-Off

Low-cost carrier about to step into the aviation breach following RAK Airways’ closure

Kuwait’s 84-Year Old Emir Undergoes Minor Surgery

KUNA gave no details on the surgery, but said Sheikh Sabah would remain in hospital for “the normal period of recuperation”.

Saudi Aramco Names Saadan Senior VP Of Finance And Strategy

Saadan joined Aramco in 1980 and has worked as vice-president of corporate planning and chief executive of the Aramco-Exxon Mobil refinery in Yanbu.

Abu Dhabi Hotel Guests Up 36% In January

Guests numbers at Abu Dhabi hotels reached 276, 970 during January with hotels earning Dhs522 million in revenues.

Siemens Wins $253m Qatar Power Station Contract

The firm will construct nine turnkey substations for Qatar General Electricity and Water Corporation’s phase 11 expansion.

Oman To Replace 480 Public Sector Expat Workers In Civil Services

Around 114 expatriate employees in civil services have been replaced to date while the remaining 480 positions will gradually be given to Omanis by 2015, an official said.

Etihad Airways Starts Double-Daily New York Flights

The Gulf carrier will initially operate the extra flights on two three-class Boeing 777-300ERs, leased from partner Jet Airways, and from May 1, Jet Airways will take over the service

Nakheel To Auction More Plots In Jumeirah Park On Strong Demand

The developer said that it will auction off residential plots ranging from 7,750 to 8,700 square feet on March 4.