Aramco, Pertamina Sign Petro Deal

Aramco signed an initial deal with Indonesia’s state energy firm, PT Pertamina, to look into building a petrochemicals project in Indonesia

The Islamic And Conventional War

In the battle for customers during the recession, conventional and Shariah-compliant banks have sharpened their game.

Al Arab To Adopt New Voice

Prince Alwaleed says his upcoming Arabic news channel will stand out from the competition.

Saudi Arabia’s Lost Cities

The New Economic Cities announced six years ago are yet to begin contributing to Saudi’s economy.

Emaar 2011 Profit Falls 27%

The company’s net profit in Q4 2011 increased by 161 per cent year-on-year.

Brent Falls On Greece Woes

Brent crude slips to $118 as a final decision on Greece’s bailout package faces a possible delay.

MENA Gains Momentum

The region’s finances are back on track said the London Business School in Dubai.

ENBD Q4 2011 Profit Fall

The bank reported that net profit for the full year increased by six per cent from 2010.

A damp 2011 For GCC IPOs

Issuers and investors remained wary of volatility in the capital markets, according to PwC.

QNB Prices $1bn Bond

The bond was five times oversubscribed and received orders from more than 270 investors globally.

Dubai Will Support State Entities

The Dubai government will continue to help government-related bodies, says Sheikh Ahmed bin Saeed al-Maktoum.

Oman MoH Signs Deals Worth $3.9mn

The agreements were signed between Oman’s health ministry and Oman LNG.

Kuwait’s Central Bank Governor Resigns

Sheikh Salem Abdul-Aziz al-Sabah blamed a rise in public spending for his decision.

Mashreq Loans $80mn To Gulf Air

The struggling Bahraini carrier will use the amount to meet its medium-term capital needs.

Saudi Blogger Deported From Malaysia

The columnist fled Saudi Arabia after his comments on Twitter caused an outrage in the kingdom.

SABIC, Sinopec In $5.3bn Contract

The two companies are in negotiations to build a methanol complex in Trinidad and Tobago.

Microsoft Will Not Take Over Nokia

The Finnish telco partnered with Microsoft in a bid to claw back market share last year

Etihad Reports $14mn Net Profit

This is the first time that the UAE airline, started eight years ago, has recorded a profit.

Batelco Sells STel Stake

The Bahraini telecoms operator will receive $174.5 million, the same amount that it paid to purchase the stake in the Indian firm.

US Firm Wins $8.2bn Qatar Contract

Colorado-based CH2M Hill has won the FIFA World Cup construction management contract.

Eurozone Is A “Train Wreck”

Prominent economist Nouriel Roubini has predicted that the Eurozone will collapse in a few years.

Dhs2.1bn Surplus For Dubai Municipality

The civic body said that cost-cutting measures were implemented to achieve a budget surplus in 2011.

Damas Hires Nomura For Deal

Doha-based Mannai is planning to buy 58.8 percent of Damas in a deal estimated to be worth around $445 million.

Dolphin Raises $1bn From Bond Sale

Abu Dhabi’s Dolphin Energy will use the proceeds to meet its refinancing needs.

DGCX Volumes Rising

Dubai Gold and Commodities Exchange saw volumes increasing 95 per cent year-on -year in January.

Saudi Ready To Up S Korea Oil Supply

Saudi Arabia might increase crude oil supplies to South Korea as Seoul looks for alternatives to Iranian oil.

Consumer Confidence Drops

Confidence decreased substantially in Saudi Arabia during the last quarter of 2011, according to Nielson.

Emirates Eyes $517mn Loan

The airline is planning an Islamic loan facility to fund two of its planes, according to reports.

UNB’s Q4 Net Profit Drops

The Abu Dhabi lender’s profits fell 19.2 per cent to Dhs135 million during the fourth quarter of 2011.

MENA M&A Deals Rise 4%

According to Ernst &Young, deal values in 2011 dropped by 28 per cent year-on-year to reach $31.7 billion.