GCC Shouldn’t Delay Single Currency– Qatar Official

The Gulf countries should learn from the Euro experience but create a monetary union soon, a Qatari central bank official has said.

UAE’s Agthia Posts 38% H1 Profit Rise

The food and beverage company made a net profit of Dhs56 million during the first half of the year.

Azerbaijani Bank Plans Qatar Presence

International Bank of Azerbaijan, the country’s largest lender, hopes to start operating in Qatar in the first quarter of 2013.

Branson Reveals Virgin’s London Tour Guide

The famous entrepreneur discloses his favourite places in the city, just in time for the Olympics.

GCC Not Yet ‘Luxury Tourist Hub’

Luxury retailers in the region need to innovate to attract savvy customers, says a new study by BCG.

Deutsche Bank: “Sukuk Premium Disappeared”

The Islamic premium no longer exists says one banking professional, stimulating greater issuance and longer tenors.

Etisalat May Take Majority Stake In Mobily

UAE’s leading telecoms company may also look to raise its stakes in other affiliates with high population markets.

Emirates In Alliance Talks With Qantas

Dubai’s flagship carrier is closer to a tie-up with the Australian airline, sending Qantas shares up eight per cent.

Dubai Rents Rise 2% In Q2

Average residential rents for both villas and apartments in the emirate increased during Q2 2012, says new study.

Dubai’s Aramex Q2 Profit Rises 14%

The logistics firm said weakness in Egypt and investment costs in new African operations weighed on its results.

Etisalat Posts 17% Rise In Q2 Profit

The UAE- based telecoms company made a net profit of Dhs1.9 billion mainly due to increased international revenues.

DIFC Benefits From “Safe Haven” Status

The Dubai International Financial Centre (DIFC) economy posted a ‘GDP’ of $3.13 billion in 2011, up seven per cent from 2010.

Abraaj Capital Exits IHH Healthcare Amid IPO

The region’s biggest investment firm leaves as the healthcare provider launches third biggest offering of the year.

Dubai’s DEWA Says No Plans For Bond

The utility company is not planning to issue a bond despite a drop in borrowing costs, its CEO has said.

Vodafone Qatar Reports Narrower Q1 Loss

The Qatari operator made a first quarter loss of $32.49 million, an improvement on the $32.6 million Q1 loss last year.

Zain Buys Further Stake In Saudi Unit

The Kuwaiti telecoms operator now owns 37 per cent of Zain Saudi following a weak response from other shareholders.

Top UAE Lenders Beat Q2 Estimates

Three of the country’s largest banks have all posted positive results with First Gulf Bank reporting a 14 per cent profit rise.

ADCB Q2 Profit Beats Estimates

Abu Dhabi Commercial Bank posted a net profit of Dhs733 million for the second quarter of the year.

PineBridge Opens New MENA HQ In Bahrain

The new office of the global asset management company will be headed by ex-Mumtalakat CEO, Talal Al Zain.

Dubai Starts Tenancy Registration At Post Offices

Residents can now complete residential and commercial tenancy contract registration at select post offices.

Abraaj Names New CEO For Aureos

The private equity firm announced that Tom Speechley, senior partner at Abraaj, will take over as the CEO of UK-based Aureos.

National Bank of Abu Dhabi Posts 2% Q2 Profit Rise

NBAD, the largest bank by market value in the UAE, saw second quarter profit grow on higher net interest income.

Saudi Taxis To Be Monitored By Ministry

Taxis in the Kingdom will be been banned from picking up passengers on the streets, the transport ministry has said.

First Gulf Bank Q2 Net Profit Up 14%

The UAE-based bank made a net profit of Dhs1.02 billion during the period, beating analysts’ forecasts.

Regional SWFs Look Inward

As GCC SWFs begin to invest closer to home, the West may find itself with an increasingly empty begging bowl.

Luxury Goods Market To Grow 15% In Middle East

As Tiffany & Co. announce a new JV in the region, a global report says the luxury goods market is growing.

Safco Plans 33.3% Bonus Share Issue

Saudi Arabian Fertilizers Co (Safco) has also proposed a SAR6 dividend for the first half of 2012.

UAE Has No Plans To Issue Bonds

Finance Minister Sheikh Hamdan says the country will fill any gap “from its own resources.”

Wataniya In 49% Q2 Profit Drop

The Kuwaiti telecoms operator reported a loss of 37.3 million dinars compared to the same period last year.

RAKBank Posts 13.5% H1 Profit Gain

The UAE-based lender reported a net profit of Dhs668.7 million for the first half of the year.