Drydocks Files For Insolvency Protection

The move is expected to force all the creditors of the Dubai-based shipbuilding unit to agree to its $2.2 billion debt-restructuring plan.

$20m Boost For ME SMEs

RED, Abraaj’s small and mid-cap investment platform, has invested $20 million in the region so far this year.

DFM Suspends Trading In Al Mazaya

Update: The Kuwaiti developer’s shares have now resumed trading on Dubai Financial Market.

Kuwait’s Bourse Suspends Trade In 19 Firms

The companies, which failed to report earnings on time, join 12 other firms suspended earlier this year.

SEC Receives $1.4bn Loan

Saudi Electricity Company will use the amount, loaned by a group of international banks, to build a power plant in Rabigh.

A Wing And A Prayer

Strata, Abu Dhabi’s aerospace parts manufacturer has become a worldwide name in just two years.

HSBC Buys Lloyds Assets In UAE

The acquisition includes the retail, commercial and corporate banking businesses of Lloyds in the country.

OPEC Output Rises In March

The oil supply from the OPEC nations in March this year increased to its highest level since October 2008.

Zain Confirms Dividend Issue

The Kuwait telco also said it would back a subscription by its Saudi affiliate.

Arab Multinationals Spread Wings

The GCC is among the least economically integrated regions in the world. But that is changing.

Supply Offsets Iran: Brent Nears $124

Oil edges down as US crude stocks offset Iran fears.

DP World Profit Rises to $683 Million

The UAE-founded international ports company has cut its debts.

DIB Repays $750 million Sukuk

The bank said that it repaid the five-year Sukuk from its own resources.

The Great Iraq Threat

Saudi Arabia is right to be concerned about the rise of new hydrocarbon superpowers, writes Yadullah Ijtehadi.

Saudi Plans Ambitious Nuclear Programme

The Kingdom is planning to spend more than $100 billion to establish 16 nuclear energy plants in the country.

Tracing The Money Trail

As private investors from the GCC divest large portions of their wealth offshore, Aarti Nagraj investigates where the money is headed.

Dubai Drydocks To Restructure $2.2bn Loan

Dubai’s ship building unit will ask its syndicated lenders to sign a lock-up agreement.

Global Shoppers Spend $497m During DSF

Interestingly, visitors from Russia were the biggest spenders in the UAE during the Dubai Shopping Festival, according to Visa.

JAFZA Eyes Loan Launch

Dubai’s Jebel Ali Free Zone is planning to launch a syndicated loan to partly refinance its $2 billion Sukuk maturing in November.

World Oil Import Bill May Hit $2trn

The International Energy Agency has warned that if crude oil prices don’t fall, oil import bills may soar to record levels this year.

Pension Fund Will Benefit UAE Expats

As officials in Dubai complete the study for an expatriate pension scheme, experts say that the move will protect workers and improve the economy.

REVEALED: Top 10 Digital Companies To Watch

Gulf Business lists 10 companies to keep an eye on as they move the region’s digital industry forward.

Ex-Mumtalakat Head Joins PineBridge

Talal Al Zain, who recently resigned from Bahrain’s sovereign wealth fund, has been appointed as the CEO of PineBridge’s MENA operations.

RBS Shares Rise After Abu Dhabi Takeover Talks

Britain is reportedly holding talks with Abu Dhabi to sell a part of its stake in Royal Bank of Scotland.

UK No.1 Internet-Based Economy

The internet contributes more to the UK economy than any G20 country.

Windows 8 Set For Debut

The much anticipated Windows 8 is expected to go sale in October.

Mubadala Buys $2bn Stake In Brazil’s EBX

The move marks the first significant direct investment by the Abu Dhabi fund in Brazil and Latin America, it said.

Dubai Rents Rise In 2012

The rental rates for apartments and villas rose by one per cent in Q1 2012 compared to Q4 2011, according to Asteco.

UAE Mulls Uniform Corporate Tax Rate

A study is being conducted to check the economic impact of the move, which will introduce a single tax rate across the seven emirates.

ME Holds $500m In Start-Up Funds

Regional investors are ready to provide up to half a billion dollars to promote new businesses in the Middle East, say industry experts.