Blackrock Says Cut Exposure To UAE Stocks On Signs Of Excess

The fund’s largest equity investments include Emaar Properties and London-listed UAE firm NMC Health.

Gulf Islamic Banks’ Extra Product Costs Shrinking, Study Finds

The cost gap for Gulf banks rated by S&P seems to be narrowing to as little as 30 basis points in the first half of 2013 from a high of 110 bps in 2009.

Oman’s Sale Of 19% Of Omantel To Start Next Week

The government will offload 142.5 million Omantel shares, reducing its holding to 51 per cent from 70 per cent.

Dubai Taxis To Accept Card Payments From February

An extra charge of Dhs2 will be levied on all credit and debit card payments while Nol card users will incur a Dhs1 charge.

Saudi Airlines Secures $1.9bn Loan To Fund Planes

The loan will finance the delivery of the next 17 aircraft on order for the carrier.

Emirates Plane Causes Scare In Melbourne After Smoke Emerges From Tyres

Engineers found the smoke to be the result of a common occurrence caused by a warm tyre, the airline said.

Private Equity And SWF Investments Rising In MENA

The region witnessed a strong rise in deal value and volume, aided by rising business confidence and improved liquidity.

Three Adagio Aparthotels Gear Up For UAE Launch

Accor is tapping into region-wide demand for long-stay accommodation

Bahrain’s Batelco To Take Control Of Kuwaiti Internet Firm

Batelco will buy 46 per cent of Qualitynet from Ali al-Ghanim & Sons for an undisclosed fee.

Saudi Telecom To Screen First-Day Movie Releases For TV Customers

At present Saudis must wait six to nine months after films are released in cinemas to watch them on local pay-television.

London’s Lord Mayor Concerned Over Lack Of Women In Top Jobs In The GCC

Ambassador for the UK’s financial sector wants to see more women at senior management and board level.

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