Qatar Buys 22% Stake In China’s CITIC Capital

CITIC, partly owned by China’s sovereign wealth fund, did not give financial details of the investment.

Glencore’s Bid For Qatar’s Xstrata Wavering

New ratio demand leaves the commodity giant at a loss as potential mining deal looks close to collapse.

India’s Jet Airways Introduces Sharjah-Mumbai Route

The Indian carrier will also resume services to Kuwait and Bahrain from Kochi in its winter schedule.

Etihad Increases Virgin Australia Stake To 6.1%

The Abu Dhabi-based carrier bought over $10 million worth of Virgin shares to raise its stake from 5.1 per cent last month.

Oil Rises On Eurozone Hopes, Supply Worries

Investors are optimistic that the European Central Bank will take action to ease Spanish and Italian borrowing costs.

China’s Domestic Growth To Fuel Gulf Oil Demand

Despite fears of a China slowdown, long term urbanisation will spell growth, says Chris Tedder, research analyst at FOREX.com

UAE Banks Cash In On Euro Disaster

Fears of a Euro lending shortage appear overblown as local banks grow their loan books.

Job Opportunities In The UAE Bleak

New consumer confidence survey reveals there are few jobs currently available in the country.

Qatar Luxury Group Buys Stake In Anya Hindmarch

The Qatari-owned investment company increases its luxury goods portfolio with British fashion brand.

Abu Dhabi Food Prices Rise 3.3% During Ramadan

The biggest hikes were recorded in the prices of fish, vegetables and meat, according to official statistics.

Apple Becomes Most Valuable Company Ever

With a market capitalisation of around $623 billion, the tech giant is now the world’s most valuable public firm.

Brent Inches Up Toward $114; Eurozone Policy Eyed

Brent crude prices are rising on supply concerns stemming from Middle East tensions and maintenance issues in the North Sea.

False Records Issue Is Key To Standard Chartered Case

The false records cases could be easier to prove than money-laundering.

Oil Prices Inflate As Speculators Bet On Stimulus

An expected stimulus from the US Federal Reserve, instability in the Middle East and a fall in North Sea output are all spurring oil prices.

Starting The Revolution Express

With the GCC expected to spend $79 billion in the next 10 years on railways, metro and tram projects, this development is being heralded as a transport revolution.

Bullish Outlook For MENA Banks

Banks in the region are benefiting from high profit margins and government support, says new report.

Arab Bank chairman quits over CEO dispute

Abdel Shoman, chairman of Jordan-based Arab Bank, reportedly resigned after a disagreement with key shareholders.

UAE Banks Told To Extend Loan Maturities For Citizens

The UAE Central Bank has told lenders to reschedule citizens’ loans by more than 48 months.

RAK Airport Passengers Up By 78.3%

RAK Airport sees influx of European and Russian tourists.

Qatar Inflation Rises To Record 2.2 % In July

Qatar inflation rose to its highest level so far this year in July, driven by furniture, textiles and home appliances.

Hikma H1 Revenues Up 34.8%

Hikma Pharmaceuticals delivers a strong first half performance in 2012.

Qtel Gets Regulatory Nod To Buy Wataniya Stake

Qatar Telecom has received approval from Kuwait’s Capital Markets Authority to buy a stake in Wataniya for $2.2 billion.

Gulf Air Resumes Iraq And Iran Flights

Bahrain’s flag carrier will restart routes into both countries from next month.

Al Ain Dairy Eyes Global Expansion

Regional dairy producer is approaching the international market and commencing production of camel milk products.

Gulf States Warn Citizens To Leave Lebanon Immediately

The UAE, Saudi Arabia and Qatar have all told their residents to leave the country amid threats of kidnappings.

EFG-Hermes Q2 net profit down 66%

The Egyptian investment bank posted a net profit of $4.4 million as revenues from its brokerage operations declined.

Islamic Finance Body Plans Scholar Accreditation

A Malaysia-based association of Islamic scholars is planning to develop a global code of ethics to improve standards in the industry.

UAE Unveils New Online Property Auction

Asteco partners with real estate auction website to provide new solution for UAE property owners.

UAE Awards Nuclear Fuel Supply Contracts Worth $3bn

The contracts have been awarded to six international companies including Rio Tinto and France’s Areva.

Drake & Scull Q2 Net Profit Drops 42%

The contracting company said that higher finance costs for acquisition and contracts provisioning led to the fall in profit.