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.

GCC’s Biggest Banks By Assets

The top 50 banks’ consolidated assets grew by a higher 9.1 per cent in 2011 to $1.2 trillion, compared to 6.8 per cent in 2010 and four per cent in 2009.

Egypt Requests $4.8bn IMF Loan

The country made a formal loan request to the International Monetary Fund during a visit to Cairo by IMF chief Christine Lagarde.

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.