Saudi Arabia Fourth Largest Defence Spender In 2013

The report estimated Saudi Arabia was spending $59.6 billion, a rise of 8.6 per cent.

Emaar Regains Investment Grade Credit Rating As Dubai Booms

Without a government credit rating, Emaar’s rating is seen as an indicator of investor confidence in Dubai.

Rising Dubai Rents Boost Sharjah’s Retail Sector

Major mall developers are targeting Sharjah’s retail sector as demand surges.

Middle East To See A Surge In Chinese Investments In 2014

Around 74 per cent of Chinese investors polled said that they expected outbound M&A deals from the country to rise in 2014.

QNB Financial Services Expands Coverage To Saudi, Egypt, UAE

The brokerage is seeing increased interest in the three markets among Qatari investors.

Abu Dhabi’s Largest LuLu Hypermarket Opens In Capital Mall

The new mall is located in Mohammed bin Zayed City.

Sharjah Apartment Rents Rise 33% In Q4 2013

Apartment rents in popular areas such as Al Majaz and Al Nahda rose nearly 38 per cent in Q4 2013, a report says.

Flydubai To Launch Paid-For Meals

Passengers can order the meals – priced at around Dhs40 – through flydubai.com.

Oman To Sell 19% Of Omantel In Two Phases

The first phase is reserved for wealthy local investors and due to finish in March and the second will be open to all Omanis, say reports.

Bahrain Toughens Penalties For Insulting King

Offenders will face a jail sentence of up to seven years and a fine of up to $26,500.

What Property Can You Buy In Dubai For $7m?

A villa in Palm Jumeirah and an apartment in Dubai Marina can be yours for $7 million, according to Knight Frank.

Nakheel Awards Dhs375m Pointe Contract To Drake And Scull Unit

The Pointe, a new Dhs800 million mall on Palm Jumeirah, is scheduled for completion in 2016.

Rolls-Royce Reveals Bespoke Waterspeed Collection Sketch

Rolls-Royce Middle East reported a fourth consecutive record year in 2013, with sales up 17 per cent year-on-year.

TRA Launches Official mGovernment Portal

The portal will make various government services available on mobile phones.

DP World Consolidated Volumes Slip 3.8% In 2013

DP World said terminals controlled by the company handled 26 million TEU compared to 27.1 million in 2012.

Microsoft Appoints Insider As CEO

Indian-born Satya Nadella replaces Steve Ballmer who said he would step down in August 2013

Dubai Start-Up Qordoba Raises $1.5m For Product Development

The online content creation company hopes to scale up its offering.

National Gas Co Confirms CEO Detained In Corruption Case

Goutam Sen is allegedly being held in detention as part of a corruption probe involving Oman’s oil industry.

Qatar To Spend Up To $205bn On Infrastructure

Qatar’s budget for fiscal 2013/4 is up 17.9 per cent to 210.6 billion riyals.

Abu Dhabi Islamic Bank 2013 Q4 Profit Up 41%

The lender made a net profit of Dhs343 million in the fourth quarter compared with Dhs242.8 million in the same period in 2012.

Deyaar’s Net Profit For 2013 Up 300%

The Dubai developer increased its gross profit for the year from Dhs199 million in 2012 to Dhs307.5 million.

Saudi’s Dar Al Arkan May Repay $450m Sukuk Early

The $450 million Islamic bond is due to mature in February 2015.

Kuwait To Invest $676m In Italy

The announcement was made by Italian Prime Minister Enrico Letta, who is officially visiting the GCC.

Dubai Financial Centre Posts Double-Digit Growth For 2013

The number of active registered companies operating within the DIFC rose 14 per cent to 1,039 last year.

First Gulf Bank To Hire Investment Bankers To Grow Business

The bank has mandates for arranging loans and bonds for UAE entities totaling around $15 billion, an official said.

Hilton Garden Inn Arrives In UAE At The Double

The brace of hotels will meet the growing need for affordable accommodation in the run-up to Expo 2020

Abu Dhabi’s TAQA To Build UAE Desalination Plant

Construction is expected to start in early 2015 and commercial operations in 2017.

Trading On Dubai’s Main Stock Exchange Suspended

Trading on Dubai Financial Market (DFM) was suspended because of a system malfunction

Japan’s Tohoku Signs 15-Year LNG Deal With Qatar

Tohoku declined to provide any details on how the Qatar gas will be priced.

Islamic Bank Of Britain Gets Fresh Capital, Plans Expansion

The injection will allow IBB to grow its retail operations and develop its commercial business.