Etisalat To Shut Down India JV

The decision follows the ruling of an Indian court to cancel 122 telecoms licences in the country amid a corruption scandal.

Dubai Raises $675mn For Tram Project

The proceeds from the dual-currency loan will be used to fund the first phase of the Al-Sufouh project.

ILF Engineers Wins DEWA Contract

DEWA has awarded ILF Engineers a consultancy contract for two solar projects, including its $3.26 billion energy park.

Abu Dhabi Hotel Demand Is A ‘Concern’

The capital emirate’s initial plans are being redrawn with much longer completion dates announced.

Al Jaber CEO To Be Replaced: Sources

Abu Dhabi-based Al Jaber Group may hire a new CEO as part of a $1 billion restructuring plan, according to sources.

$100mn Boost For Saudi’s Al Raya

Levant Capital and Citi Venture Capital International have acquired a major stake in the Al Raya supermarket chain.

Oman Owes Gulf Air $310mn

The Bahraini carrier said that the sum has been outstanding from the time Oman pulled out of Gulf Air in 2007.

DP World Eyeing $1bn Loan: Sources

The company is reportedly in talks with banks for a loan to repay its $3 billion deal that matures in October.

Abraaj Eyeing Turkey’s Calik

Dubai-based Abraaj Capital is planning to bid for Calik Holding’s media assets, according to sources.

DIFC Looks To Asia For Growth

The financial centre welcomed 56 new companies in 2011 and is eyeing companies from emerging markets.

CME, Oman Fund Raise DME Stake

The cash injection into the Dubai Mercantile Exchange (DME) has diluted the stake of Dubai Holding.

UAE Digital Banking Rises

Google found nearly half of the UAE uses the web for online banking and research.

HLG Wins $515mn Habtoor Contract

The Habtoor Leighton Group (HLG), part of Australian firm Leighton, will work on the $1.3 bn Habtoor Palace project.

Etisalat May Restructure

The telecoms operator said it is discussing restructuring options as it struggles to stall dropping profits.

QIA Buys Credit Suisse London HQ

Qatar’s sovereign wealth fund acquired the building for an undisclosed sum and has now leased it back to the bank.

ENBD Plans Renminbi Bond Sale

The bank has mandated Emirates NBD Capital, HSBC and Standard Chartered Bank to arrange investor meetings.

Australia Launches Mega GCC Drive

Victoria’s $16.5 billion tourism industry has benefitted from Emirates’ marketing efforts, which include the Melbourne Cup

Abraaj Acquires Aureos Capital

The transaction is set to create the world’s largest SME focused private equity group.

ME’s Wealthy On The Rise

The region may even top the world in terms of growth of wealthy individuals this year, according to experts.

11.8mn Ride Dubai Metro’s Green Line

The recently inaugurated Green Line saw more than 11.8 million passengers during its first five months.

Dar al-Arkan To Repay $990mn

Saudi Arabia’s biggest property developer, Dar al-Arkan, plans to repay 3.7 billion riyals of debt this year, said CFO .

Gulf Funds Eyeing ONGC Stakes

Sovereign wealth funds from the UAE and Kuwait have reportedly agreed to buy stakes in India’s ONGC.

DIFCI Hires Advisors For $1.25bn Bond

The DIFCI bond is in the spotlight as investors weigh Dubai’s refinancing risks in 2012.

Egypt Signs $3.2 bn IMF loan

Egypt expects to sign the IMF loan next month and will receive one-third of the funds immediately upon signing, said minister.

Aramco, Pertamina Sign Petro Deal

Aramco signed an initial deal with Indonesia’s state energy firm, PT Pertamina, to look into building a petrochemicals project in Indonesia

The Islamic And Conventional War

In the battle for customers during the recession, conventional and Shariah-compliant banks have sharpened their game.

Al Arab To Adopt New Voice

Prince Alwaleed says his upcoming Arabic news channel will stand out from the competition.

Saudi Arabia’s Lost Cities

The New Economic Cities announced six years ago are yet to begin contributing to Saudi’s economy.

Emaar 2011 Profit Falls 27%

The company’s net profit in Q4 2011 increased by 161 per cent year-on-year.

Brent Falls On Greece Woes

Brent crude slips to $118 as a final decision on Greece’s bailout package faces a possible delay.