EXCLUSIVE: GE’s Immelt Increases Gulf Footprint, Cuts Slow-Growth Operations

GE CEO Jeff Immelt says the firm will cut jobs globally but inject $1 billion into Saudi Arabia.

UAE Central Bank Extends Lending Cap By Six Months – NBAD

The central bank introduced caps for loans made to local governments and their entities in April this year.

Qantas CEO: No Alternative To Emirates Deal

Dubai and Australia’s flagship airlines are waiting on the results of a competition watchdog’s ruling ahead of their planned alliance.

Gulf States Must Tackle Muslim Brotherhood Threat

UAE’s foreign minister has said the Brotherhood does not believe in the nation state or the sovereignty of the state.

Viva Approaches Banks For $400m Loan

The Kuwaiti telecoms operator is looking for funding to help boost network capabilities and improve its current services.

National Bank Of Abu Dhabi To Expand Islamic Banking

NBAD is looking to reap 10 per cent of its operating income from Islamic banking by 2020, up from three per cent currently.

Alwaleed’s Kingdom To Book Gain From Land Sale In Q3

Kingdom Holding sold the plot in Riyadh for $66.6 million.

Saudi Almarai Q3 Profit Up 4.7%

The dairy producer’s third quarter revenue rose 27 per cent to SAR2.7 billion.

Etihad Eyes Asia And India Partnerships

Abu Dhabi’s flagship airline is looking at more minority stakes to further expand its global reach, says CEO.

Dubai Duty Free Eyes $1.6bn Sales By Year-End

The airport retailer saw sales increase 10 per cent year-on-year during the first nine months of 2012.

The Emir Of Kuwait Dissolves Parliament

The decision by Sheikh Sabah al-Ahmad al-Sabah offers hope of new parliamentary elections.

Qatar National Bank’s Q3 Profit Up 10.5%

Qatar’s indicator for sector performance in the region reports a 15 per cent rise in net profit for first nine months of the year.

Alwaleed’s Kingdom Holding Plans Up To $500m Loan

The proceeds will be used to refinance existing debts, said sources.

Qatar’s Barwa To Sell $4.4bn In Assets To Repay Loans

The assets being sold include land in Qatar and the Barwa New Cairo project in Egypt.

Etihad Airways Q3 Revenues Up 19%

Passenger revenues were boosted by code sharing and partnerships.

Dubai’s Ruler Approves Canal Expansion

His Highness Sheikh Mohammed bin Rashid Al Maktoum has given the green light on the $411 million Business Bay project.

Saudi Says IMF’s 2016 Deficit Forecast Is ‘Doomsday Scenario’

The IMF said its base scenario envisaged a fiscal deficit of 0.6 per cent of GDP by 2016.

Qtel To Buy KIA’s Stake In Wataniya

The Qatari telecoms operator is to own almost all of Kuwait’s Wataniya network as Kuwait Investment Authority sell up.

Barclays Replaced By National Bank of Fujairah On UAE Rate Panel

UK-based Barclays quit the panel in July.

Violators Should Be Punished – Dubai Properties Group CEO

Property developers not complying with the laws and rules set by Dubai’s RERA should face strict penalty, says Khalid Al Malik, DPG’s group CEO.

Kuwait Central Bank Cuts Discount Rate To 2%

The move is expected to boost Kuwait’s banking sector.

Cityscape: Dubai Builders Revive Shelved Plans

Developers are upbeat about recovery in Dubai’s property market.

LIVE: Updates From Cityscape 2012 Day 3

Gulf Business brings you all the news from Dubai’s main property event.

Cityscape: IP Global To Open New Middle Eastern Offices

The property investment firm is eyeing offices in Oman and Qatar after the region accounts for 18 per cent of London’s purchases.

Dubai’s Shuaa Hopes To Break-Even In 2013

The investment bank’s shares are down 93 per cent from a 2008 peak.

Cityscape: Off-Plan Buying Back In Dubai’s Property Market

Experts say that the off-plan market is much better regulated now compared to pre-financial crisis.

Qatar Islamic Bank Launches $750m Sukuk

Order books for the deal reportedly hit over $6 billion ahead of launch.

LIVE: Updates From Cityscape 2012 Day 2

Gulf Business brings you all the news from Dubai’s main property event.

Cityscape: Damac Says All Projects On Track, Plans Further Expansion

The company has no plans to launch an IPO, but may do so in the future.

Dubai Residential Property Market Up 62%

Master communities such as Palm Jumeirah and Downtown make up 62 per cent of all transactions in Q3.