Saudi Index Falls 10% Since April

The Kingdom’s Tadawul index has dropped on global economic fears and political instability in the Eurozone.

Doha’s New Heart Takes Shape

Peter Shaw-Smith takes a walk through Msheireb Downtown, Qatar’s billion-dollar city centre project.

Facebook To Increase IPO Size

The social networking site reportedly plans to float an additional 85 million shares in its IPO.

Oil Prices To Stay Over $100: Experts

A fall below that level will lead to a cut in Saudi’s oil output and force high-cost oil projects to shut down.

Greece’s Exit Will ‘Rattle’ GCC

If Greece leaves the Euro next month the impact will be indirect but significant for the Gulf, say experts.

Revealed: Top 5 Real Estate Gainers

Gulf Business reveals the top five UAE real estate firms based on profit gains in the first quarter of the year.

Dubai Villas Record Rent Rise

Average lease rates for villas in the city increased by three per cent during the first quarter of the year.

Saudi’s IDB Plans Up To $1bn Sukuk

Islamic Development Bank plans to issue the Islamic bond in June this year, its chairman has said.

Oman Eyes 2,000 New Hotel Rooms

The Gulf state will add a plethora of new hotel and resort rooms across the country by 2012-2013.

Agility Q1 Profit Falls 8.1%

The Kuwaiti logistics firm made a net profit of $25.4 million during the first quarter of this year.

Virgin To Allow Calls On Flights

Passengers travelling with the airline will now be able to make and receive calls on their mobile phones.

HSBC Launches Dhs1bn SME Fund

The bank said that it expects loans to the UAE’s SME sector increasing by 20 per cent this year.

Drake & Scull Q1 Profit Drops

The UAE-based construction firm posted a 15.6 per cent drop in its first quarter net profit.

New Bankruptcy Law In UAE By 2012

The final draft of the UAE’s new bankruptcy law will be ready by the end of this year, the Justice Minister has said.

Union Properties Posts Profit Drop

The Dubai property developer announced that net profit for the first quarter of the year dropped 72.7 per cent to Dhs22 million.

Man City’s Rich Rise To Glory

Abu Dhabi shelled out close to $1 billion on Manchester City’s Barclays Premier League title, writes Neil Churchill

Invest AD JV Plan $100m Fund

A joint venture between US-based Paladin Capital Group and Invest AD plans to launch a $100 million MENA fund.

Bahrain To Open New Dragon City

Chinese firm Chinamex is building a multi-million-dinar Chinese-themed retail shopping mall in Manama.

Have I Got News For You

As Sky News Arabia and Al Arab add to the region’s existing basket of Arabic news channels, can they gain marketshare?

Aabar Clarifies Arabtec Stake

Aabar said that it had only raised its stake in Arabtec to 20.7 per cent and not 53 per cent as previously reported.

IEA Warns Of High Oil Prices

High oil prices “pose a real threat to the economic recovery” says the International Energy Agency.

Dubai Plans New Safari Project

The Dhs150 million project will replace the existing zoo and will also include a butterfly park and golf courses.

Kuwait’s Finances Concern IMF

The IMF questions Kuwait’s fiscal stimulus and warns of the sustainability of public finances.

ADIB Q1 Profit Up 5.8%

Abu Dhabi Islamic Bank reported that revenues rose 7.3 per cent to reach Dhs874.8 million during the period.

Dubai: The Shopper’s Paradise

As malls in Dubai announce massive expansion plans, experts express no concerns and say shoppers will come.

Dubai Investments Posts Q1 Profit Hike

The Dubai investment conglomerate recorded a revenue drop of three per cent during the period.

RAK Airport Q1 Visitors Up 58.5%

The airport is increasing passenger capacity from 250,000 to two million in the next 12 to 18 months.

New Saudi Airlines Launch By Q1 2013

Saudi’s GACA says new international airline licences will be operational by April next year.

Saudi Eyes $100 Per Barrel Oil Price

The Kingdom’s oil minister Ali al-Naimi said that an oil price of $100 per barrel would be “great.”

Qatar Buys Stake In Shell Oil

Qatar Investment Authority has reportedly acquired between three to five per cent of oil major Royal Dutch Shell.