Facebook Buys Instagram In $1bn Deal

The social networking site confirmed that the rival photo-sharing app will not be integrated into Facebook.

QNB Posts 17.4% Q1 Net Profit Rise

Qatar National Bank recorded a net profit of $549 million during the first quarter of the year.

A Home For Everyone

Amid regional unrest, providing affordable housing for the Gulf’s growing masses has become a priority.

Dubai Duty Free Picks Banks For Loan

The airport retailer has chosen Dubai Islamic Bank, HSBC and Emirates NBD to arrange its $1.1 billion loan facility.

Oman Air Reports $285.6m Loss

The carrier said that the loss was “justified” and blamed it on the rising fuel prices.

Qatar’s Xstrata Stake Worth $2.65bn

Qatar Investment Authority (QIA) currently holds a five per cent stake in global mining and metals company Xstrata.

Arab Billionaires Worth $121.3bn

Saudi Prince Alwaleed topped the list of regional billionaires released by Forbes with a fortune of $18 billion.

UAE Banks Falling Short – Experts

UAE banks will have to stop ‘yesteryear’ practices if they are to survive future competition.

TAQA Sells Tesla Motors Stake

Abu Dhabi National Energy Company (TAQA) booked a profit of $113 million on the sale.

Deutsche Bank’s Azzam Steps Down

Top finance guru Henry Azzam leaves MENA chairman role, citing no reasons.

We Were Already Behaving Strangely

The seeds for the social media-driven Arab Spring were sown more than five years ago, says Alexander McNabb, director, Spot On PR.

Almarai Reports $64.5m Q1 Net Profit

The Saudi-based dairy company said that net profits for the first quarter of the year rose 2.9 per cent year-on-year.

SABIC Plans $100m Centre In China

The Saudi-based chemical producer is planning to build a technology research and development in Shanghai.

UAE Oil Output Hit 2.7m bpd In March

The UAE oil production was reportedly at full capacity because of the rising demand.

DIC Reaches $2.5bn Debt Deal

Dubai International Capital, the private equity arm of Dubai Holding, has reached a final agreement with creditors for restructuring its debt.

Bahrain Tops Region In Global IT Index

The UAE and Qatar also ranked high for their IT technologies on the global index compiled by the World Economic Forum and INSEAD.

A Digital Spark

The Arab Spring ignited the Gulf’s online passion and participation. And now, there’s no turning back.

Saudi Trims May Oil Prices For Asia

The Kingdom also slashed its crude prices for Europe, as oil demand weakens.

Batelco Eyes Acquisitions In 2012

The Bahraini telecoms operator hopes that new acquisitions will bring in revenues to compensate domestic losses.

Groupon Sued By Investor

The daily deals website has been facing increasing criticism from customers and investors across the world.

Heir To The Mall

The Gulf’s love affair with malls is far from over, but e-shops are making headway, writes Ryan Harrison.

Drydocks Gets Approval From 98% Of Creditors

Only one creditor has not yet accepted the $2.2 billion debt restructuring plan proposed by the Dubai-based shipbuilding unit.

BAE Signs Saudi-Eurofighter Deal

The British defence contractor said that it had signed a contract to build 48 Typhoon aircraft for the Saudi Arabian air force.

New $1bn Islamic Bank In Doha

Saudi Arabia’s Islamic Development Bank and Dallah Albaraka Group have signed an agreement with Qatar to set up the new bank.

Kuwaiti Tweeter Denies Blasphemy

A Kuwait man accused of insulting the Prophet Mohammad on Twitter has said that his account was hacked.

ME Airlines See 23% Rise In Passengers

The strong performance of regional airlines in February this year, suggests that the region has now “fully recovered,” said IATA.

Foreign Access To Saudi Bourse Will Be Slow

The opening up of the Kingdom’s stock market to foreigners will be gradual, Saudi Arabia’s capital market regulator has said.

Majority Of UAE Workers Expect Pay Rise

According to a new survey, 63 per cent of employees in the UAE expect a wage hike in the next 12 months.

Poor Service Fails GCC Banks

While regional banks are reporting good growth rates, customer service has to improve, warns a new study.

Etihad’s Revenues Soar In Q1 2012

The Abu Dhabi -based carrier recorded a 28 per cent year-on-year rise in revenues during the first quarter of this year.