Kuwait’s PM Says Welfare State Is “Unsustainable”

The International Monetary Fund has repeatedly warned against rising government spending in OPEC member Kuwait.

Kuwait Bourse To Launch Derivatives Trading Next Year

A Kuwaiti investment firm has already expressed interest in trading options.

UAE Declares Nov 2 As Islamic New Year Holiday

Private sector employees will now resume work from Sunday, November 3.

Qatar Airways To Begin Flights To DWC, Sharjah

Starting from 1 March 2014, the carrier will fly twice daily flights into both destinations.

Air Arabia To Expand Into China

CEO Adel Ali predicts a minimum five new routes a year as the low-cost carrier flies into its second decade

UAE Banks Federation Announces Inaugural Conference

The Middle East Banking Forum will be held on 26 November, and attract top tier representatives from regional and international lenders.

Bahrain’s Arab Banking Corp Names Kawan As Permanent CEO

Khaled Kawan replaces Hassan Ali Juma, who retired from the bank in July

Arab States Import Brazilian Coffee Worth $117.6m From Jan-Aug

The South American nation exported 46 tonnes of coffee to the Arab region during the first eight months of 2013.

Saudi Electricity Company Posts Slight Drop In Q3 Net Profit

Profit fell to SAR2.853 billion in the three months ended Sept. 30

Zain Saudi Q3 Net Loss Narrows, But Misses Forecasts

The telecoms operator made a net loss of SAR421 million in the three months to Sept. 30

UAE To Help Egypt Build Wheat Silos To Hold 1.5m Tonnes

The silos will form part of the UAE’s recently announced $4.9 billion aid package to Egypt

Saudi Women Say They Will Keep Pushing For Right To Drive

Activists posted 12 films on YouTube said to be of women driving on Saturday

Emaar Launches $3bn Project In Iraqi Kurdistan

The “Erbil Downtown” project is due to be completed in three stages over a period of around five years

UAE Approves Higher Federal Spending For 2014

UAE Prime Minister Sheikh Mohammed said that half of the federal budget of Dhs46 billion will go for development and social benefits

Dubai Hotels Surge Ahead As Doha Hotels Slow Down

As Dubai hotels continue to cash in on strong demand, room rates in Doha are falling due to stiff price competition.

GCC Automotive Aftermarket Worth Billions

The Middle East is one of the world’s fastest-growing markets for automotive products.

Dubai World Central Faces Emirates Hub ‘Conundrum’

Dubai Airports’ strategic focus now shifts to second phase operations now the new airport is open to passengers

British Prime Minister Voices His Support For Dubai Expo 2020

David Cameron, Prime Minister of the UK, gives his reasons for why the emirate should host the expo.

UAE’s Financial Advisory Businesses Buck Global Trend

Nearly three out of four UAE financial advisers are in a growth phase, a study found.

Bahrain In Early Stages Of Bank Merger Wave

The tiny kingdom’s banking industry was hit hard by the global financial crisis and, since 2011, by political unrest.

SABIC’s 2014 Outlook Improving With Q3 Profit Rise

The company’s sales in the third quarter rose nine per cent to 48.8 billion riyals over the same period in 2012.

Western Expats Rank UAE As Ideal Residence

Despite high levels of expenditure on luxury, UAE-based western expats were also found to be spending on investments.

The Business Of Securing The Web – Kaspersky Interview

Garry Kondakov, chief sales, marketing & support officer at internet security firm Kaspersky Lab, talks increased IT security awareness, B2B and B2C trends and expansion plans in the Middle East.

Oman’s Renaissance Unit Prices $350m Debut Bond

The five-year offering carried a coupon of 8.625 per cent

Pictures: Dubai’s New Al Maktoum International Airport

Al Maktoum International Airport at Dubai World Central begins passenger services on October 27.

LIVE: Launch Of Passenger Flights At Dubai’s New Airport

Al Maktoum Airport at Dubai World Central welcomes inaugural passenger flight today.

Bahrain Defends Use Of Teargas Following Criticism

The Gulf state has reportedly has plans to buy 1.6 million canisters of the material.

Dubai’s Ruler Approves New Jumeirah Corniche Project

The project will include the development of the emirate’s longest corniche, stretching across 14 kilometres.

US Judge Narrows Masreq Claims Versus ING Over Investment Losses

Dubai-based Mashreq alleged ING Groep NV lost over $40 million of its money by investing it in “toxic” securities.

UAE’s First Gulf Bank Acquires 100% Stake In Islamic Finance Firm

FGB raised its ownership from 40 per cent to 100 per cent in Aseel Islamic Finance