Etihad Cancels Seven Airbus A350-1000s

The Gulf carrier reduced its Airbus A350 order, cancelling aircraft worth $2.3 billion at current list prices.

Jeddah Hotels Post 30% Profit Rise In March

Hotels in the Saudi Arabian city saw average occupancy rates of 81 per cent during the month.

UAE, Saudi Pledge More Oil To South Korea

The Gulf states have assured South Korea that they will make-up for any shortfall of oil supply from Iran.

Is The Property Market Back?

The UAE’s main property developers posted gains in Q1 2012. But are we really out of the woods?

Starwood To Open 40 MENA Hotels By 2017

The international hotel operator is planning to add 13,000 new rooms to the region by 2017.

Shuaa Capital Narrows Q1 2012 Loss

Dubai-based Shuaa Capital reduced losses by 67 per cent year-on-year in the first quarter of the year.

Air Arabia Posts 11% Hike In Q1 Net Profit

The low cost carrier recorded a net profit of Dhs49.2 million during the first quarter of the year.

Emirates Scoops Accolades At BTME Awards

The Dubai-based airline bagged four awards at the Business Traveller Middle East (BTME) Awards 2012.

Dubai’s MOE To Open 20 New Stores In 2012

Dubai’s Mall of the Emirates will host Prada’s third biggest store worldwide and American pancake house IHOP.

Arabtec Group Identified For $3bn Airport Deal

An Arabtec consortium is in final talks for a $3 billion contract to expand Abu Dhabi’s international airport.

Heathrow’s Arabic Speaker Hiring Spree

The airport is increasing measures to cater to the rising number of visitors from the Gulf.

MENA IPOs Raise $82.8 Million In Q1 2012

The capital raised in Q1 2012 was almost four times higher than Q1 2011, but 63 per cent lower than Q4 2011.

THE 99: Inspired Thinking

Alicia Buller has breakfast with clinical psychologist and creator of THE 99 comic, Dr. Naif Al Mutawa.

Revealed: Top 10 GCC Banks In 2011

Gulf Business rounds up the region’s top performing banks last year based on their assets values.

Omantel Posts 12.9% Q1 Net Profit Rise

The Omani telecoms company reported a net profit of $75.58 million during the first quarter of the year.

DEWA Solar Plant Attracts Global Demand

The Dubai utility received several Expressions of Interest (EOIs) from international firms for 10MW plant.

Dubai Plans To Build Undersea Hotels

Dubai’s Drydocks World has signed an agreement with a Swiss firm to build the new hotels.

Dubai’s DFSA Appoints New Chief Executive

Ian Johnston will take over from Paul Koster, who completes his term at the financial services regulator.

Nissan Infiniti Sales To Grow 25% In 2012

Exclusive: The Japanese carmaker will sell 200,000 units this year, said global executive vice president.

Qataris Spend $4,100 Per Day On Travel

Compared to the rest of the world, GCC nationals on average spend 260 per cent more on airfares.

Royal Jet Starts Luxury Travel Services

The Abu Dhabi-based private jet operator has partnered with a UK based travel firm to offer luxurious holiday packages.

Emirates May Acquire Other Airlines

Emirates Airlines will acquire other carriers at “the right time,” its chairman Sheikh Ahmed Al Maktoum has said.

Flydubai Plans To Raise Ticket Prices In 2012

The low cost carrier is planning to hike ticket prices due to increasing fuel costs, said its CEO, Ghaith al-Ghaith.

Dubai’s Hotels Post 24% Q1 Rise In Revenues

The emirate’s hotels also recorded a nine per cent rise in guest numbers during the first quarter of the year.

Riyadh Airport Expansion To Start In Q4 2012

Saudi Arabia expects the project to be completed in 2015, the General Authority for Civil Aviation has said.

Dubai Sukuk To Fund Airport Expansion

Dubai will use the proceeds from its $1.25 billion Sukuk to expand its airport, according to Sheikh Ahmed al Maktoum.

RAK Plans $250m Tourism Push In 2012

The emirate is aggressively developing its hospitality sector and aims to attract 2.5 million visitors by 2015.

MENA To See 195m Tourists By 2030

According to UNWTO, tourist arrivals in the region are set to grow seven per cent per year over the next 20 years.

GCC Visitors Flock To Munich

Last year, 80 per cent of the Gulf travellers visited the German city for medical reasons.

Tap Online, Experts Urge Hotels

Regional hotel operators must invest in new technologies to stay ahead, say industry experts.