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.

Nakheel Launches Luxury Residences At The Palm

Prices for the 504 units on sale at the Palm Tower Residences start from Dhs1.5 million.

UAE Telco Du Q4 Profit Falls 43%

Du’s full-year profit for 2013 was Dhs1.99 billion, up slightly from Dhs1.98 billion a year earlier.

Saudi Hardware Retailer Picks HSBC’s Saudi Arm As Listing Adviser

The firm will list 30 per cent of its shares on the Kingdom’s stock exchange.

Iran And US Agree Final Nuclear Deal May Be Unreachable

As part of an interim agreement, Tehran curbed some nuclear activities for six months in return for limited sanctions relief.

Hotel Review: Ritz-Carlton, Dubai

The new Shorooq wing houses 148 rooms, while the new bar and pool offer a higher level of luxury and sophistication.

Dubai’s Mashreq Hikes Foreign Ownership Limit To 49%

Foreigners currently own two percent of the bank’s shares.

Morgan Stanley Appoints New MENA Investment Banking Head

Patrick Delivanis replaces Klaus Froehlich, who is relocating to Frankfurt for a senior investment banking role.

Air Arabia Q4 Net Profit Rises 12%

The Sharjah-based carrier made a net profit of Dhs94 million ($25.6 million) in the fourth quarter.

Saudi’s Tallest Tower To Consume 80,000 Tonnes Of Steel

Saudi Arabia’s Kingdom Tower, which is 173 metres taller than Dubai’s Burj Khalifa, is slated for completion in 2018.

UAE’s Gulf Marine Services Plans London IPO

GMS plans to sell new shares worth $100 million, as well as an undisclosed number of shares currently held by private equity backers.

Dubai’s Emaar Q4 Net Profit Up 48%, Beats Estimates

The developer, which launched several new projects last year, said its total value of sales in Dubai for 2013 was Dhs12 billion.

Pictures: Mall Of The Emirates New Fashion District Launch

The Fashion District, unveiled on Monday, is the first phase of the mall’s Dhs1billion redevelopment programme.

Mall of The Emirates Unveils Fashion District, Eyes New Hotel

The Dubai-based mall is undergoing a massive Dhs1 billion redevelopment programme.

GCC Needs To Invest In Job Creation

GCC governments should reform the education curricula and equip young job seekers to meet the demands of the private sector, a report says.

Qatar Cuts April Al-Shaheen Crude Exports On Maintenance – Sources

The number of 600,000-barrel cargoes scheduled to load in April has fallen to 13, two less than March, the sources said.

Dubai Introduces Cap For School Fees

Schools can raise their fees from five to seven per cent depending on their rating by the KHDA.

Saudi Gets First Female Newspaper Editor

Somayya Jabarti has been appointed editor in chief of the English daily Saudi Gazette.

Bahrain’s Al Baraka Islamic Bank Sees New Scope To Expand

The bank’s growth in 2014 will be fuelled by the company’s entry into the Moroccan and Libyan markets and expansion in Tunisia.

Industries Qatar Misses Estimates As Q4 Net Profit Falls 6%

Results were adversely impacted by continued significant fertiliser price deflation, the firm said.

UAE Telco Du Agrees Terms On $720m Loan Financing

Du’s new loan will replace two existing debt facilities.

Nakheel Receives Six Construction Bids For New Mall On Palm Jumeirah

A construction contract for Nakheel Mall is expected to be awarded within three months.

UAE Has Highest Ratio Of International, Local Students Among Arab States

The UAE has around 34,122 inbound students against 7,719 outbound students, according to UNESCO Institute of Statistics.

Ex-Government Officials In Oman Jailed For Abuse Of Office

The officials were sentenced to three years in jail for abuse of office.

Kuwait’s NBK Appoints Isam Al Sager As New Group CEO

Al Sager, deputy group CEO at National Bank of Kuwait, replaces Ibrahim Dabdoub who is retiring after three decades.

Zain Bahrain IPO Moves Closer With Notice In Govt Gazette

Under the terms of its licence, Zain Bahrain must sell 15 per cent of its shares in an IPO and list on the Bahrain bourse.

Egypt’s Deposed President Mursi On Trial On Terrorism Charges

Mursi is on trial in three cases and charged in two others.

Speed Limits: How Fast Can You Drive On Dubai’s Roads?

Speed limits on major Dubai roads remain largely unchanged, according to Dubai Police.