Damac Launches Paramount Project In Riyadh

Damac Towers by Paramount Hotels & Resorts will offer 215 units of serviced residences, from one to three-bed apartments.

Private Banking Special: Khaled Sifri, Emirates Investment Bank

Founded in 1976, EIB changed its strategy away from pure asset management to a wealth management platform offering private and investment banking services to a broader client base.

Dubai’s Revamped Al Ghurair Centre To Open On Oct 1

The Deira-based mall will feature over 130 new stores including Marks & Spencer, Mango and Omega.

Arabtec Hikes Worker Salaries By 20% Following Wage Strike

Arabtec has raised the salaries of 36,000 workers across its projects nationwide.

Oman Air And Bank Muscat Launch Visa Credit Card

Co-branded card is designed to reward and enhance loyalty among frequent flyers

Emirates Opens VIP Lounge At Bernabéu Stadium

Exclusive lounge enables guests to unwind before, during and after games.

Airbus Exec: Asian, Gulf Banks Fill Void In Plane Finance

Airbus has recently raised its 20-year jet demand forecast, saying the world needed to double its fleet to meet demand.

Bahrain Jails 50 For Ties To Anti-Government Group

Bahrain has seen almost daily protests by members of the Shi’ite majority since February 2011.

Nakheel Sells Homes Worth $125m In New Project

Dubai has been recovering from a real estate crisis and property prices have begun to rebound.

Dubai Stock Market Surges To 5-Year High On Heavy Buying

Dubai’s benchmark advanced 1.2 per cent to 2,771 points, its highest finish since November 2008

71% MENA Employers Influenced By Candidates’ Social Networks

A survey has found that 42 per cent of companies always research a new employee on the internet before hiring them.

Dubai Only City That “Deserves To Win Expo 2020”- Senior Official

The Expo 2020 winning bid will be announced in November this year.

Tax Breaks For Dubai’s Three And Four Star Hotels

The tax exemption, covering the 10 per cent municipality fee, will extend to applications over the next three years.

3,200 UAE Students Enrolled In UK Universities

The UAE’s booming private education sector has attracted many UK universities to setup affiliate campuses in Dubai.

Qatar GDP Growth Slows Marginally To 6% In Q2

GDP rose 0.6 per cent from the first quarter, according to the Ministry of Planning and Statistics.

Qatar First Bank Says CEO Mansour Resigns

Ahmad Mehsari from Qatar Islamic Bank will take over as the bank’s acting chief executive.

Egypt Received $7bn Of Promised $12bn In Gulf Aid

Egypt has received $3 billion from the UAE and $2 billion each from Saudi Arabia and Kuwait

Abu Dhabi Airport Sees 18.5% Rise In August Passenger Traffic

Over 1.5 million passengers passed through the emirate’s airport in August.

GCC Capital Expenditure To Rise By 8.2% In 2013

GCC states’ expenditure on rail schemes, expansion of power generation plants and housing projects is expected to boost capital expenditure in 2013.

Saudi Cleric Says Women Who Drive Risk Damaging Their Ovaries

A campaign calling for women to defy the ban in a protest drive on October 26 has spread rapidly online.

Government Debts Affect Dubai’s Business Confidence

According to the IMF, Dubai’s total debt stands at $142 billion, or around 102 per cent of its GDP.

Etisalat-Vivendi’s Maroc Tel Stake Talks Extended

Vivendi in July entered into exclusive negotiations with Etisalat to sell its majority holding stake in Maroc Telecom for 3.9 billion euros in cash.

Bank Dhofar CEO Resigns Amid Merger Talks

Bank Dhofar has appointed Abdul Omar Al-Ojaili as its acting chief executive, replacing Anthony Mahoney.

Oman May Issue Sovereign, Islamic Bonds In 2014

Oman aims to develop its fledgling Islamic finance industry with a debut issue of sukuk by the government.

Egypt’s Transitional Government Phase To End By Spring

The Egyptian army ousted Mursi, a Muslim Brotherhood leader, on July 3 after mass protests against his one-year rule.

UAE Moving Away From Cash-Based Society

A MasterCard study has found the UAE has one of the fastest changing payments systems.

UAE’s Food Imports From Victoria Up 66%

Major food exports from the Australian state include dairy, meat, fresh fruit and vegetables

UAE’s First REIT Plans IPO On Nasdaq Dubai

Emirates REIT, formed in 2010, has income-generating assets worth 770 million dirhams.

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Arab Monetary Fund In $117m Loan To Jordan

Jordan was hit by a financial crisis last year as foreign aid fell and welfare payments soared.

Emirates Has “Work To Do” On Boeing 777X Price Negotiation

Emirates is the largest operator of Boeing’s twin-engined 777 jetliner and is looking at a more fuel efficient version to introduce around 2020.