Dubai Needs Affordable Shopping Malls

Retail must accommodate middle-class tourists’ needs as their numbers rise, say experts.

Kuwait’s Global Sees Creditors Reject $1.7bn Restructuring Plan

Global Investment House looks at legal options as it undergoes its second debt restructuring in three years.

Drake & Scull Wins Contracts Worth $87 Million

The Dubai firm secures contracts in Saudi Arabia and the UAE ahead of Q3 profit announcement.

Telco Mergers On The Rise As Market Intensifies

Telecoms companies in the GCC continue to seek control and profits by bulking up their presence in foreign firms.

World’s Tallest Hotel Opens In Dubai

The 355-metres tall JW Marriott Marquis Hotel opens its first tower, adding 804 rooms to Dubai.

UAE’s Crescent Petroleum To Enter Libya, Lebanon

The company is also looking to expand investment and production in Iraq, its CEO says.

UAE Toughens Law On Internet Dissent

Any person who “derides or damages” the reputation of the state or any of its institutions online will be imprisoned.

Abu Dhabi Rents Drop 6% In Q3 2012

Residential rents in the emirate continue to fall but still remain higher than Dubai, says new report.

Gulf Air Restructures Fleet To Save $2.5bn

Tough economic conditions and Bahrain unrest push Gulf Air to reduce fleet.

Qatar National Bank Close To SocGen Egypt Deal

Trading on shares is suspended as the French bank is close to selling its asset to QNB.

US To Overtake Saudi As Top Oil Producer – IEA

Forecasts suggest the States will achieve self-sufficiency in oil and gas and become an exporter by 2030.

Nokia Launches Lumia 920 In Middle East

The new Windows Phone 8 enabled handset has made its official debut in the region.

Air Arabia Posts 126% Rise In Q3 Profit

The low-cost carrier reported a net profit of Dhs226 million in the third quarter.

Dubai Is Not Worried: Sheikh Ahmed

The emirate sees no need to recapitalise the support fund that helps state-linked bodies, said Sheikh Ahmed, head of the Supreme Fiscal Committee.

Qataris Biggest Luxury Spenders In ME

Residents in Qatar spend up to $5,000 per month on luxury goods, says new report.

Emirates Profit Surges 104% As Passenger Yield Grows

The world’s largest Arab carrier witnessed a turnaround in profits in the first half of 2012 despite continued fuel price pressures.

Bahrain’s GIB Picks Banks For Dollar Bond

Gulf International Bank picked JP Morgan Chase, NBAD, Barclays, Standard Chartered and Societe Generale to arrange the deal.

MENA Traders’ Repayment Fears On Global Economy

A report by HSBC shows exporters in the region are worried buyers will fail to settle transactions in coming months.

NRI Investments In Indian Real Estate Up 6%

Recent study shows that the depreciating rupee continues to provide a big boost for UAE-based Indian expats.

Saudi Arabia Allows Rights Trade On Stock Market

The move comes as the Kingdom prepares to open its stock market to direct investment by foreign institutions.

The Rise Of Low-Cost Carriers

The might of incumbent airlines has been tested in recent times by the growth of low-cost carriers. But do Middle East players have anything to worry about?

ADIPEC Round Up – BP, ADNOC And Saudi Announcements

A round up of the day’s news and gossip from the region’s largest oil and gas event.

Dubai’s Commercial Property Sector Picks Up In Q3

Commercial demand is increasing in areas like DIFC and Downtown Dubai, says new report.

IMF Warns GCC To Cut Spending, Diversify

GDP growth in the GCC region is expected to slow to 3.75 per cent in 2013 as oil production stalls, says IMF.

Qatar Holding Invests In The Chernin Group

Qatar’s investment vehicle puts a rumoured $100 million into the Peter Chernin-owned media company.

Dubai’s Shuaa Capital Q3 Loss Narrows

The investment bank which has been through three CEOs in the past year posts Q3 loss of $3.78 million.

Exclusive: GCC Construction Market Down Says Drake & Scull’s Tabari

Lack of capital funding and collection of payments continue to plague the construction industry says UAE construction tycoon.

Arab Spring Economies To Recover Slowly – IMF

Weak demand in Europe and other regions will continue to weigh on the Arab Spring states.

REVEALED: Top 10 GCC Hotel Launches In 2012

As the Gulf’s hospitality industry grows, international and local hotel brands are ramping up their presence in the region.

UAE Frees Hundreds Of Emirati Debtors From Jail

The country has released 290 people convicted of bouncing cheques, reports official WAM news agency.