UAE Mall Developer Picks Banks

Majid Al Futtaim has begun choosing banks to arrange investor meetings ahead of a second bond issue.

Rents Rise In Riyadh and Jeddah

Residential rents rose between four to 13 per cent in the two Saudi Arabian cities, says a new study.

Dubai’s Daman Sells 22.7% Stake

The investment company, which plans to launch an IPO, raised Dhs100 million from the sale.

JAFZA Repays $2.04bn Sukuk

The free zone has repaid the Islamic loan five months early and consequently received a rating upgrade from Fitch.

Tracking Qatar’s Next Move

Qatar’s government is hoping that its nascent non-oil sector will keep the economic engine running.

Qatar Buys French Luxury Hotels

Qatar plans to buy four hotels from Starwood for around $940 million, according to French media reports.

UAE’s Hormuz Bypass Opens

The new pipeline is expected to end the UAE’s dependence on the shipping route that Iran has threatened to block.

Gulf Seen Muted After MSCI Move

The UAE and Qatar have not been upgraded to emerging markets status by index compiler MSCI.

Brent Prices Hit 18-Month Low

Poor outlook for the US economy and rising supply pushed oil prices to around $92 per barrel on Thursday.

Dubai Draws Lebanese Tourists

The number of Lebanese visitors staying at Dubai’s hotels rose two per cent year-on-year during Q1 2012.

KSA IPOs Strong Despite Outlook

Although the stock market is down 14 per cent from this year’s high, investors are positive on earnings.

Gulf Banks Eye European Rivals

Regional banks are on the prowl to snap up Middle Eastern arms of European banks looking to sell.

Arkan Gets Dhs1.4bn Loan

The construction company will use the amount to refinance existing debt and fund expansion.

Emirates Plans To Lease Aircraft

Dubai’s flagship airline is looking at plans to lease aircraft in a deal with DNA2 and Goldman Sachs.

Jumeirah Eyes Indian Market

The luxury hotel chain group has specific discussions going on in Mumbai and Delhi, its chairman has said.

Kuwaiti Royal Sues UBS For $21.4m

The Suisse bank returns to court today in lawsuit over alleged failure of payment in $10.7 billion Zain deal.

UAE Not Pressured To Issue Bonds

The country has adequate financial resources to bridge its budget gap, a senior minister has said.

Four Seasons To Open Dubai Resort

The Canadian hotel operator announced that it will open its first resort in Dubai by mid-2014.

Landmark Enters Healthcare

The retail and hospitality conglomerate moves into the healthcare industry with the launch of medical clinics.

Brent Touches 17 Month Low

Oil prices briefly fell below $95 a barrel on Tuesday on Eurozone worries, but bounced back again.

ENOC Unit Gets $100m Financing

The amount will be partly used to construct a fuel pipeline from Jebel Ali to the Dubai Airport.

DSI Wins Dhs96m Oman Deals

UAE contractor Drake & Scull International has secured a series of MEP contracts in Oman.

Top MENA Picks For Retailers

The UAE ranks highest in the region for global retail expansion, says a report by A.T. Kearney.

Qtel Announces New Group COO

The Qatar-based telecommunications firm promotes Ahmed Al-Derbesti to chief operating officer.

Fitch Cuts HSBC VR Rating

The rating agency has cut the bank’s Middle Eastern arm’s rating from BBB+ to BBB, due to flat NPL ratio.

Facebook Buys Facial Recognition

The world’s biggest social network acquires the company behind the ‘tagging’ of photos for $60 million.

Bahrain Plans Bond Roadshows

The Gulf state is starting investor meetings this week for a planned dollar-denominated bond issue.

A Growing Love Affair

Travellers from the GCC love all that Europe has to offer in terms of shopping, medical treatments and good weather.

Dubai’s Tamweel Eyes Sukuk Issue

The Islamic mortgage lender picks ADCB, Emirates NBD and UBS for meetings on asset-backed Sukuk.

Emirates Repays $550m Sukuk

The Dubai-based airline announced that it has repaid its Islamic bond on maturity date.