Abu Dhabi Launches New Port, May Compete With Dubai

The multi-billion dollar Khalifa Port can handle 12 million tons of general cargo annually in the first phase.

Barclays Appoints Jenkins To Fill Diamond’s Shoes

The banking group appoints a new chief executive to repair its damaged reputation following the Libor scandal.

Qatar LNG Producer Rasgas Office PCs Hit By Virus

The company confirmed that operational systems both onsite and offshore are secure and that production is not affected.

Top Start-up Funds In The Middle East

With entrepreneurship in the region witnessing an unprecedented boom, funding options are also on the rise.

China’s ICBC Posts Strong H1 Growth In ME

ICBC ME posted a pre-tax profit of $36 million in the first half of the year, up 157 per cent from H1 2011.

Qatar Telecom Repays $3bn Loan Facility

The state-owned operator repaid the five-year syndicated term loan from existing funds.

Qatar-Barclays Payments Face Fraud Probe

Fees from Qatar Investment Authority paid to the British bank are being scrutinised by the UK’s Serious Fraud Office.

iPhone Struggles In China

Apple is used to being a market leader, but the hugely lucrative Chinese market is proving elusive.

Qatar Has Highest Construction Costs In ME

The increasing volume of activity in the build-up to the 2022 FIFA World Cup has pushed up costs in Qatar, says study.

DP World’s H1 Profit Flat, Cites Global Climate

The Dubai-based port operator made a profit of $247 million in the first half of the year.

ENOC Announces 40 New Petrol Stations For KSA

The Kingdom’s own oil company responds to worsening revenue in the Gulf with new stations.

EXCLUSIVE: Phil Broad Resigns From Jumeirah Restaurants

Exclusive: The managing director of the successful chain is joining the InterContinental Hotels Group.

G7 Urges Higher Oil Output, Warns On Reserves

Finance ministers of the G7 nations said that the West was ready to tap oil reserves to offset rising prices.

Apple Seeks Bans On Samsung Phones

Days after its court victory, the world’s most valuable company has filed a lawsuit against the South Korean brand, targeting 28 of its devices.

Dubai Court Approves Drydocks $2.2bn Debt Plan

The Dubai World Tribunal formally approved the restructuring of shipbuilding unit Drydocks World.

Is This The iPhone 5?

The rumour mill is going into frenzy as the much anticipated launch date of the iPhone 5 nears.

UAE To Boost Oil Production Capacity

The country plans to increase crude oil production capacity to 3 million barrels per day over the next few months.

Nakheel Refunds $57m To Investor Who Bought Three Islands

Dubai World tribunal orders Nakheel to repay Shokat Mohammed Dalal the sum he paid to reserve three islands on The World in 2008.

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.