The decision to appoint Jim Yong Kim, an American, to the top post has been criticised by developing nations.
National Bank of Kuwait reported a 0.3 per cent rise in Q1 profits year-on-year.
Global fashion store will launch 14 more regional stores this year.
Property prices in the city are hitting early 2008 levels, and the rental market is also positive, says a new report.
The Dubai-based developer reported a net profit of Dhs1.3 billion for 2011.
Formula One teams taking part in the Bahrain Grand Prix will not be at risk, circuit chairman Zayed Al Zayani has said.
Bank Muscat, Oman’s largest lender by market value, posted a net profit of $86.7 million for the first quarter of the year.
Saudi Basic Industries Corporation will be distributing a dividend of SR5 per share to shareholders for 2011.
The travel firm had to cancel a similar sale two years ago due to a lack of demand.
Mashreq bank chairman Abdul Azuz Al Ghurair is also vice chairman of DIFC’s higher board of directors.
Digital experts have slammed the practice of hiring fake users to ‘like’ a page.
Qatar National Bank has acquired a 49 per cent stake in Libya’s Bank of Commerce and Development for an undisclosed sum.
Dubai’s financial court is revving up efforts to become the home to international dispute hearings.
The Kingdom stressed that it has not signed any deal with Sweden to help build a weapons factory in Saudi.
The bank plans to distribute 55 per cent of its 2011 net profit to the ministry of finance, reported WAM.
Increasing output from OPEC and slow global demand are easing fundamentals, said the International Energy Agency.
The Abu Dhabi-based investment company attributed the loss to negative fluctuations in its financial investments.
Dubai-based builder Arabtec has nominated four top Aabar executives to its board.
Never before has social media so dramatically shaped the behaviour of businesses in the Gulf, writes Ryan Harrison.
Qatar Investment Authority said it is looking to invest $10 billion in India, but is waiting for policies to change in the country.
Oman plans to issue sovereign bonds worth OR200 million this year, but is waiting for the right time, according to officials.
Al Rajhi Bank, SABB, Saudi Hollandi Bank and Banque Saudi Fransi recorded a rise in net profit during the first quarter of the year.
The new system will help in the trading of financial instruments such as derivatives and Sukuks.
The UK-based telco sets its sights on the region’s young and growing population.
A Kuwaiti court ruled that the man’s comments on Twitter caused sectarian divisions in the country.
The UAE-based construction company will eye major contracts in Qatar this year.
The social networking site confirmed that the rival photo-sharing app will not be integrated into Facebook.
Qatar National Bank recorded a net profit of $549 million during the first quarter of the year.
Amid regional unrest, providing affordable housing for the Gulf’s growing masses has become a priority.
The airport retailer has chosen Dubai Islamic Bank, HSBC and Emirates NBD to arrange its $1.1 billion loan facility.
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