MENA IPOs Raise $82.8 Million In Q1 2012

The capital raised in Q1 2012 was almost four times higher than Q1 2011, but 63 per cent lower than Q4 2011.

THE 99: Inspired Thinking

Alicia Buller has breakfast with clinical psychologist and creator of THE 99 comic, Dr. Naif Al Mutawa.

Revealed: Top 10 GCC Banks In 2011

Gulf Business rounds up the region’s top performing banks last year based on their assets values.

Omantel Posts 12.9% Q1 Net Profit Rise

The Omani telecoms company reported a net profit of $75.58 million during the first quarter of the year.

DEWA Solar Plant Attracts Global Demand

The Dubai utility received several Expressions of Interest (EOIs) from international firms for 10MW plant.

Dubai Plans To Build Undersea Hotels

Dubai’s Drydocks World has signed an agreement with a Swiss firm to build the new hotels.

Dubai’s DFSA Appoints New Chief Executive

Ian Johnston will take over from Paul Koster, who completes his term at the financial services regulator.

Nissan Infiniti Sales To Grow 25% In 2012

Exclusive: The Japanese carmaker will sell 200,000 units this year, said global executive vice president.

Qataris Spend $4,100 Per Day On Travel

Compared to the rest of the world, GCC nationals on average spend 260 per cent more on airfares.

Royal Jet Starts Luxury Travel Services

The Abu Dhabi-based private jet operator has partnered with a UK based travel firm to offer luxurious holiday packages.

Emirates May Acquire Other Airlines

Emirates Airlines will acquire other carriers at “the right time,” its chairman Sheikh Ahmed Al Maktoum has said.

Flydubai Plans To Raise Ticket Prices In 2012

The low cost carrier is planning to hike ticket prices due to increasing fuel costs, said its CEO, Ghaith al-Ghaith.

Dubai’s Hotels Post 24% Q1 Rise In Revenues

The emirate’s hotels also recorded a nine per cent rise in guest numbers during the first quarter of the year.

Riyadh Airport Expansion To Start In Q4 2012

Saudi Arabia expects the project to be completed in 2015, the General Authority for Civil Aviation has said.

Dubai Sukuk To Fund Airport Expansion

Dubai will use the proceeds from its $1.25 billion Sukuk to expand its airport, according to Sheikh Ahmed al Maktoum.

RAK Plans $250m Tourism Push In 2012

The emirate is aggressively developing its hospitality sector and aims to attract 2.5 million visitors by 2015.

MENA To See 195m Tourists By 2030

According to UNWTO, tourist arrivals in the region are set to grow seven per cent per year over the next 20 years.

GCC Visitors Flock To Munich

Last year, 80 per cent of the Gulf travellers visited the German city for medical reasons.

Tap Online, Experts Urge Hotels

Regional hotel operators must invest in new technologies to stay ahead, say industry experts.

Qatar Airways To Defer A380 Delivery

The airline’s CEO Akbar al Baker expressed concerns about wing cracks on the aircraft.

Dubai Islamic Posts 11% Q1 Profit Hike

The bank reported a net profit of Dhs245 million for the first quarter of the year.

Arab Spring Impact On UAE “Subtle”

Despite popular belief, the UAE’s hospitality sector did not benefit in a major way from the Arab Spring, said experts.

GCC May Soon Have E-Visa Platform

Jumeriah boss, Gerald Lawless, said the GCC could introduce an electronic visa platform for global visitors.

Kerzner Sells Stake in Dubai’s Atlantis

Istithmar World confirmed it has acquired a 50 per cent stake in the landmark Dubai hotel for $250 million.

Marriott To Hire 12,000 Staff

Company plans 43 more hotels and 100 per cent more jobs in the next five years.

Dubai Gets 12,000 New Hotel Rooms

The emirate will see a flood of new hotels rooms in the next three years said STR Global.

Sorouh Posts 30% Profit Rise

Abu Dhabi developer sees gains from government projects and higher rental income.

Aldar’s Q1 Profit Soars

The Abu Dhabi develop beats expectations with Dhs478 million profit for the first quarter.

Emaar Net Profit Rises 44 %

The developer’s results beat analyst expectations due to gains in retail and hospitality operations.

ENBD CIO Dugan Resigns

Gary Dugan will be joining Royal Bank of Scotland unit Coutts in Singapore, according to sources.