Gold Drops As Investors Await Central Banks Meeting

The precious metal rose to $1,676.45 an ounce on Monday, it’s highest in over four months.

Egypt’s President Rules Out Currency Devaluation

Mohamed Mursi confirms there will be no new taxes and will look to investment to fix the country’s economy.

Best Gadgets for the Corner Office

Gulf Business lists the gadgets you need to have if you’re about to step into the corner office.

Bahrain’s Gulf Air Posts 6% Rise in H1 Revenue

Bahrain’s loss-making national carrier announced that revenues and passenger numbers rose during the first half of the year.

Kuwaiti Firm Alleges Carlyle Sold Fund Without Licence

Kuwaiti investment firm NIG is now seeking approval for its lawsuit against Carlyle to be heard in Kuwait rather than the US.

Saudi Aramco Says Virus Damage Fixed; Oil Output Unaffected

A virus infected about 30,000 of the oil producer’s workstations in mid-August, forcing the company to cut off external communications.

Zain Confirms Vodafone Roaming Talks

The Kuwaiti-network is expected to agree a non-equity deal with the operator giant to share its network.

Arab Bank Board Appoints New Chairman

Jordan’s largest lender has elected Sabih al-Masri to head the bank after the sudden resignation of Abdel Hamid Shoman.

UAE Residents Find Online Banking “Safe”

According to a new survey in the UAE by Western Union, 76 per cent of the respondents find internet banking safe.

Yemen’s Aden Port To Cancel DP World Deal -Official

The two parties will use international arbitration if they are unable to reach an agreement, says official.

Saudi Arabia Plans Metro System In Jeddah

The metro system, the third one planned in the Kingdom, is estimated to cost around $9.3 billion.

Top 10 Performing Banks In The GCC

Saudi Arabia’s banks post bumper profit growth and lead the region’s banking recovery.

Apple Awarded Over $1bn In Samsung Case

A California jury ruled that Korean manufacturer Samsung had infringed six of Apple’s patents for mobiles.

NBAD Ranked Middle East’s Safest Bank

The National Bank of Abu Dhabi comes highest in the region for world’s safest banks; Europe take top five spots.

World Oil Supply Tightens In Last 2 Months – EIA

Global oil inventories in countries other than Iran fell about 1.2 million barrels per day in July and August.

Kuwaiti Husband And Wife Kidnapped In Lebanon

Couple abducted after Lebanese army steps up security as kidnap threats target Gulf visitors.

Palestine Bank Comes To Dubai

BoP will launch its Dubai office in 2013 to serve 200,000 Palestinians.

Kindle Comes to India

Amazon launched a Kindle store in India and is set to sell the Kindle e-reader.

Exclusive: Chairman Says Nakheel Back On Track

In a rare interview, Ali Rashid Lootah tells Gulf Business that the property empire is out of the abyss and into the black.

The Top 50 Banks In The GCC

The region’s banks witnessed a moderate recovery last year with continued overall gains expected for 2012.

Etihad Starts Daily Flights To Tokyo, Casablanca

Abu Dhabi’s flag carrier announces daily services will begin early next year.

Dubai Higher Committee approves allocation of 2000 residential land plots

Dubai Property Value Drops In H1

The net value of properties assessed by the Dubai Land department dropped 26 per cent year-on-year.

Gold Hits Highest Since Early May

Gold rose above $1,660 an ounce on signs that the US Federal Reserve is likely to launch monetary stimulus soon.

Biggest Banks In Kuwait

Banks are slowly recovering from the 2008 fall out but the impact of a major government spending spree is yet to be fully realised.

Biggest Banks In The UAE

Higher capitalisation and new profits in the UAE are threatened by the Eurozone and weak global growth.

Biggest Banks In Saudi Arabia

Strong government regulation and hefty public spending have buoyed the Kingdom’s banking sector.

Biggest Banks In Qatar

Massive public spending and impressive GDP growth saw a bumper year for Qatar’s banking sector.

Biggest Banks In Oman

Increased consumer lending and new banks will put the country on a solid footing this year.

Biggest Banks In Bahrain

Bahrain faces sluggish growth and a rise in non-performing loans due to the fallout from political unrest.

Top GCC Banks By Profits

Higher GCC banking profitability was driven by improvement in margins, faster asset expansion and expanding fee income in 2011.