Microsoft Acquires Nokia’s Phone Business For $7.2bn

The transaction is expected to be completed in the first quarter of 2014.

Ex-Merrill Lynch Banker Sets Up Boutique Consultancy In Dubai

Ziad Awad, a veteran investment banker with nearly 20 years of experience, is setting up Boardroom Metrics Arabia.

Majid Al Futtaim To Raise $1.5bn Loan To Refinance Debt

The mall operator will use the $1.5 billion facility to replace revolving loans totalling $1 billion.

Aramco Extends Bidding For Ras Tanura Clean Fuels Project

Bids are now due by Oct. 20, pushed back from Sept. 8, for the multi-billion-dollar project.

Qatar Airways Starts Chengdu Flights

The Chinese city’s large industrial development zone is likely to funnel in corporate travellers

Hilton Opens Second Hotel In Abu Dhabi

Hilton Capital Grand will aim to attract business and leisure travellers in the upcoming peak season

Dubai Shares Fall On Syria Ballistic Object Report

The index, which fell as much as 5.2 per cent is now down 2.6 per cent.

US Fuels Tension By Deploying Warships Near Syria – Russia

Five U.S. destroyers and an amphibious ship are in the Mediterranean.

Wyndham Group To Open TRYP Hotel In Dubai

Based in Tecom, the new hotel is expected to open by 2016 and will have around 672 rooms.

UAE’s Built Assets Worth $1 Trillion

The average built asset wealth per person across Qatar, Saudi Arabia and the UAE is $112,842, the study found.

Franklin Templeton Launches New GCC Bond Fund

The new fund will provide investors access to the GCC’s growing bond market.

UAE Business Activity Growth Flat In August

UAE companies saw output growth accelerate to 56.6 points in August, the highest level since February.

Emirates Resumes Tripoli Flights After Two Years

Emirates’ resumption is a positive sign but logistical challenges remain

Qatar Bolstering SWF Team To Diversify Portfolio

The $100 billion-plus sovereign fund is scouting for opportunities in Asia and the United States.

Gold Extends Losses As Delay In Syria Action

The metal saw some upside last week as a U.S. strike on Syria seemed imminent.

Bahrain Sovereign Fund Mumtalakat Signs $250m Loan Refinancing

The new credit facility covers about half of a $500 million five-year loan which the fund had signed in August 2008.

USS Nimitz Carrier Group Sails Into Red Sea

Barack Obama on Saturday backed off imminent strikes by the destroyers off the coast of Syria until Congress had time to vote its approval.

Dubai To Sell Fontainebleau Hotel In Miami To Turnberry

Dubai World paid $375 million for a 50 per cent stake in Fontainebleau Miami Beach in 2008.

UAE Telcos Suspend Three Million Mobile Subscriptions

Etisalat and du are suspending services of subscribers who have not registered their SIM cards on time.

1,000 New Jobs Created In Dubai’s DIFC In H1 2013

Dubai International Financial Centre currently has 979 registered companies with a total workforce of 15,000.

Syria Asks The United Nations To Stop US Strike

The US accuses the Syrian government of killing over 1,400 people in a chemical gas attack.

Etihad Launches New In-Flight Child Care Programme

Etihad’s Flying Nanny programme aims to assist families during long-haul flights.

Deyaar And Dubai Properties Launch New Tower In DIFC

The 48-storey residential tower is part of the group’s Central Park project in the DIFC.

Dubai’s Drake Wins $113m Louvre Abu Dhabi Museum Contract

The mechanics, engineering and plumbing contract was awarded by a joint venture led by Arabtec Holdings.

Attackers Torch Saudi Religious Police Building

No one was injured in the incident, which reportedly occurred at dawn on Saturday.

Woman Who Threatened To Bomb Dubai Building Detained

An Uzbek woman threatened to blow-up the Dubai Public Prosecution building on Sunday following a personal dispute.

Arab States Urge Action Against Syrian Government

The League of foreign ministers also said those responsible for the chemical gas attack should face trial.

GM Sees Auto Industry Slowing In Turbulent Middle East

The US carmaker expects the industry to continue growing at four to five per cent per year.

Saudi Arabia Says It Backs US Strikes If Syrian People Do

The US is preparing strikes against the Syrian government, blaming it for a chemical gas attack that killed hundreds of civilians.

Employee Relocation Will Cut Over-Supply In Abu Dhabi’s Property Market

Abu Dhabi’s residential property market could see new demand as the deadline for employee relocation ends today.