Swimming Downstream

The Gulf is refining its billion-dollar petrochemicals agenda to supply value-added products across the globe.

Emirates Begins Flights To Portugal

The new route could increase the number of tourists from the UAE to Portugal to more than 100,000.

DIFC Unit Repays $1.25bn Sukuk

DIFC Investments raised money through a syndicated facility to help repay the Islamic bond.

Another False Start?

It’s unclear whether a recent surge in Islamic finance activity will lead to much-needed change.

Kuwait To Invest $150m In Asian IPO

Kuwait Investment Authority is reportedly planning to invest in Malaysia’s IHH Healthcare’s $2 billion IPO.

Bahrain Mulls Social Media Law

Officials say new laws are needed to prevent misuse of social networking tools in the country.

Dubai Is World’s 8th Popular City

Abu Dhabi is the world’s fastest growing destination while Dubai tops the popularity list in the ME.

Dubai Retailers In Chinese Push

Luxury retailers in the emirate are hiring Cantonese and Mandarin speaking staff to cater to Chinese visitors.

Emirates To Repay $550m Bond

Dubai’s flagship airline will not refinance the sukuk and is expecting to repay the amount in full.

Camel Milk Up 20% Per Year

Camelicious’ umbrella company has revealed huge growth in sales since its inception.

JAFZA Prices $650m Sukuk

The seven-year Islamic bond was launched at a profit rate of seven per cent, arranging banks said.

Emirates On Recruitment Drive

Flagship airline group seeks to recruit more nationals and promote Emiratis into management roles.

Saudi Eyes Joint Grid With Turkey

The Kingdom’s cabinet has approved authorities to hold discussions with Turkey for a joint electricity grid.

Vote On Bahrain’s Triple Bank Merger

Capivest, Elaf Bank and Capital Management House are in talks to form one new bank with larger assets.

New UAE Stock Ownership Rules

The market regulator has implemented new rules on stock ownership in a bid for greater transparency.

MENA Stocks Could Double By 2014

Arqaam Capital says that the regional corporate bond market will also grow substantially by 2014.

Brent Prices Drop Below $97

Concerns about the Eurozone debt crisis pushed crude oil prices towards its lowest so far this year on Tuesday.

ME Airlines To Post $400m Profit

Regional airlines are expected to see profits drop in 2012 because of the Eurozone crisis, says IATA.

UAE Banks May Exclude Bonds

The central bank has said it may allow banks to ignore lending limits when dealing with state-linked entities.

Kingdom Holding Picks Banks

Saudi Prince Alwaleed’s Kingdom Holding has reportedly chosen two banks to manage its debut bond.

Du Offers Fastest UAE Service

The mobile operator plans to launch a 4G broadband service, four times faster than it’s current speed.

Dubai Properties Gets New Board

Dubai Properties Group’s new board will set up its long-term business strategy and oversee implementation.

Oil Prices Reach Above $102

The $125 billion aid package received by Spain to boost its banks has revived oil demand hopes.

Fast Talk For Infiniti

Nissan vice president Andy Palmer spills the beans on Infiniti’s race to beat Audi, BMW and Mercedes.

Friendi Secures Virgin Deal

The Dubai-based operator has agreed a partnership with Richard Branson’s Virgin Group, extending into South Africa.

Dana Gas Re-Shuffles Board

The UAE energy firm has announced a new chairman as it looks to repay a $920 million sukuk.

Spain Receives 100bn Boost

Eurozone ministers have agreed to lend the amount to help Spain revive its struggling banks.

India’s SpiceJet Starts Dubai Route

The Indian budget carrier will have direct daily services connecting Delhi and Mumbai to Dubai.

Tanzania Eyes UAE Investors

The African country has invited the UAE to invest in industries relating to oil and gas exploration.

Saudi Cuts Oil Output In May

The Kingdom pumped 9.8 million barrels per day last month, down 300,000 bpd from April.