Abu Dhabi Will Issue New Hotel Licences

The emirate will not stop issuing new hotel licenses as previously reported by local media, but will be selective in the number it grants.

Sharjah Wooing Tourists

More than 1.5 million tourists visited the emirate last year, and the city is putting in several efforts to attract more visitors in the future.

Starting Out

Dania Saadi reports on the new wave of entrepreneurs spreading across the Gulf, boosted by growing funding opportunities.

OPEC Pumps Record Volumes

Despite demand worries, OPEC oil production reportedly reached 30.97 million bpd in February, the highest since November 2008.

17 GCC Billionaires Make Forbes List

The region’s representatives on Forbes’ annual list of the World’s Billionaires have a combined net worth of $65.4 billion.

Dubai Lynx Awards Announced

P&G was named advertiser of the year, while Y&R Dubai bagged the advertising agency of the year award.

NMC Plans London IPO

Healthcare provider NMC hopes to raise $250 million through the listing, and plans to use the funds for further expansion.

A Tale Of Two Hotels

Dubai will soon welcome two large hotels located in close proximity. But will they be able to co-exist and attract enough demand?

Al Baker Backs Boeing, Airbus

The outspoken head of Qatar Airways has expressed support for the planemakers as they struggle to resolve production flaws.

Hilton Eyeing MENA Growth

The hotel group has 15,000 rooms under development in the MENA region and is planning further expansion.

ENBD Issues First CNY Bond

The 750 million renminbi bond, which matures in 2015, was 5.7 times oversubscribed, the bank said.

Freeze On Bahrain’s Expat Tax May Continue

The parliament has voted to extend the suspension of the tax on foreign workers for another two years, according to reports.

ME Sukuk Volumes To Reach $14bn

The issuance of Islamic bonds in the region could reach over $14 billion this year because of increasing investor demand, according to HSBC.

Drake & Scull Wins India Contract

The utilities unit of Drake & Scull International has won the Dhs100 million contract to set up a water system for a thermal power station in India.

Bahrain Eyes Gas Imports From Russia

The Gulf state is initially planning to import the equivalent of around 3 million tonnes a year of LNG from Russia’s Gazprom.

STC Eyes Local Partner

The Saudi Arabia-based telecoms operator is keen to build a domestic partnership with a mobile virtual network operator.

ME Unrest To Affect Global Asset Prices

Regional unrest might affect China’s oil input, which in turn will have a drastic impact on global asset prices, said hedge funds guru Marc Faber.

Du’s Profits Fall On Royalty Fees

The telecoms operator reported a net profit excluding royalty of Dhs1.8 billion in 2011, a 47.8 per cent rise over the previous year.

Aabar raises Arabtec Stake

The move makes the Abu Dhabi-based sovereign wealth fund one of the largest shareholders in Arabtec.

UAE Bank Deposits Rise

Total bank deposits in the UAE reached Dhs1,069.7 billion at the end of December 2011, according to the central bank.

Saudi Foreign Trade To Grow

The kingdom’s foreign trade revenue amounted to SR1300 billion in 2011 and is set to rise by 14 per cent this year.

Korea Gets UAE Oilfields Stake

A Korean consortium has signed a deal with ADNOC to acquire a 40 per cent stake in three oilfield projects in the UAE.

New Commissioners At Kuwait’s CMA

Kuwait’s controversy-ridden stock market regulator, Capital Markets Authority (CMA), has appointed three new commissioners.

Saudi Raises Crude Prices For Asia

Saudi Arabia has increased the price of its Arab Light crude oil for customers in Asia by $1.25 a barrel for April.

DFM Sees Rising Activity

The value and volume of shares traded on the Dubai Financial Market increased in February.

UAE Residents Unhappy With Pay

Many people in the country are dissatisfied with their current financial position, according to a Bayt.com-YouGov survey.

Regional NOCs Going Global

National oil companies that are globalizing must be prepared to face complicated, international risks.

RBS Ends Tie-Up With Rasmala

Royal Bank of Scotland said it no longer requires equity research on Middle Eastern companies from Dubai’s Rasmala Investment Bank.

Reviving Ghosts Of The West

Gulf retail groups are resurrecting dying Western brands, but they face unchartered risks.

IPIC Signs $850mn Loan

Abu Dhabi’s International Petroleum Investment Company is refinancing the $850 million, three-year loan it signed in February 2009.