Qatar Plans New Harrods Hotels

Qatar Holding is planning to open Harrods branded hotels in Malaysia, Paris and New York.

UAE Looks East For Oil Partners

New foreign partners, mainly from the Far East, are being targeted as stakeholders of the future.

Exclusive Interview: Abdul Aziz Al Ghurair, Mashreq CEO

Abdul Aziz Al Ghurair is the man behind Mashreq, the UAE’s largest privately owned bank. In a rare interview he opens up to Alicia Buller on the greed culture that engulfed the UAE’s
banks and lurched the industry into crisis.

Qatar Airways Plans Saudi Carrier

Qatar Airways is keen to launch an airline in the Kingdom, but is worried about excessive fuel charges.

DP World sells Adelaide Port

The Dubai-based port operator sold its 60 per cent stake to Australian firm Flinders.

Etisalat Gets New Chairman

Eissa Al Suwaidi has been appointed as the new head of the UAE telecoms company, replacing Mohammad Omran.

QE2’s Glamorous Plans Scaled Back

New plans unveiled for the former cruise ship leave her floating in Port Rashid rather than off Palm Jumeirah.

Saudi Approves Mortgage Law

The long-awaited mortgage law is expected to help solve the Kingdom’s critical housing problem, say experts.

Dubai Airport Visitor Traffic Up

Number of visitors to Dubai’s International Airport climbs with a big increase from flydubai’s new Russia service.

UAE Car Dealer To Invest Dhs900m

Al Nabooda, the distributor of Porsche, Audi and Volkswagen in Dubai, plans major investment push.

Qatar Plans $4bn Sukuk

The Gulf state is reportedly setting up two companies through an official decree to issue the Islamic bonds.

Indian Remittance Tax Unclear

UAE exchanges say there is still no clarity regarding the Indian government’s proposed service tax on remittances.

Gulf Oil Prices Drop In June

Crude oil across the region is down as caution in China has knock-on effect for global oil prices.

Dubai Rents Rise Between 6-9%

Average apartment rents increased six per cent and villa rents rose nine per cent in Q2 2012, says Asteco.

GCC IPOs Pick Up In Q2 2012

Four IPOs, valued at over $1.1 billion were issued in the GCC during the second quarter of 2012.

Bahrain Bank Merger Gets Nod

Shareholders of Capital Management House, Capivest and Elaf Bank approve the three-way merger.

Tourists To Abu Dhabi Rise 12%

The number of guests in the emirate’s hotels reached 192,374 during May this year, official statistics show.

Future Dewa Bills On Facebook

Future utility bills may be displayed on social networks as government sectors look to improve communication.

Emirates Adds Saudi Flights For Ramadan

The airline will fly 73 extra flights to Jeddah and Medinah Al Munawarrah from July 20 to September 1.

Dubai Property Market Most Open

The UAE city is ranked as having the most transparent real estate market in the MENA region.

Saudi Aramco To Sell Unit For $1.3bn

The oil giant signs agreement to sell its Vela marine unit to Saudi National Shipping Company.

UAE Firms May Go On Credit Card Strike

Restaurants and shops consider rejecting premium credit cards as Network International hikes fees.

Flydubai Launches Basra Route

Flights to Basra, the low-cost airline’s fifth destination in Iraq, are scheduled to start next month.

Arabtec Group Wins $2.9bn Deal

The Arabtec consortium, that includes Greek and Turkish firms, will build a terminal at the Abu Dhabi airport.

Betting On Libya’s Future

The demise of Gaddifi has unleashed a treasure trove of opportunity, but one that’s fraught with risk.

Nestle To Offer 800 Jobs In Dubai

The Swiss company is opening a Dhs500 million manufacturing plant in Dubai World Central.

Tycoon Nears Deal for Drydocks’ Stake

A firm linked to billionaire Robert Kuok is set to take a stake in Drydock’s Southeast Asia operations, say sources.

Brent Dips Below $93

Key concerns about the European debt crisis offset worries about tighter North Sea supplies.

Qtel Bids For Wataniya Stake

The Qatar-based telecoms operator plans to buy the remaining majority stake in Wataniya for $1.9 billion.

Former Alkhair CEO Found Guilty

Majid Al-Refai will serve four years in jail for a number of crimes during his tenure as CEO of Bank Alkhair.