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Kuwait’s Exiting PM To Select Cabinet

Analysts expect Kuwait’s ruler to dissolve the parliament in order to allow fresh elections later this year.

IBM To Expand In The ME

The global technology firm plans to increase regional hiring and open more offices in a major expansion drive.

Dubai Duty Free Gets $1.75bn Loan

The Dubai airport retailer will use funds from the international credit facility to finance on-going expansion.

Emirates Islamic Bank Prices Sukuk

The $500 million Sukuk, EIB’s second issue this year, is priced at par and is due to mature in January 2018.

Gulf Deposits In Jersey Hit $33bn

The Gulf States account for 14 per cent of the total deposits in the island, according to official data.

Hilton To Open New Hotels In Egypt

The international hotel operator plans to open one hotel in Cairo and a resort in Alexandria.

UAE Bank Deposits Drop In May

Total deposits in the country decreased by 1.2 per cent during the month to close at Dhs1.1 trillion.

Qatar Plans New Harrods Hotels

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

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.

Saudi Approves Mortgage Law

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

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.

Job Unhappiness Causes Absenteeism

Most employees in the MENA region miss work because of low satisfaction and lack of responsibility, says survey.

Indian Remittance Tax Unclear

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

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.

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.

Abu Dhabi Crown Prince Meets Obama

The crown prince and the US president discussed regional issues and global energy prices during the meet.

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.

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.

MAF Eyes $350-500m From Bond

UAE mall developer Majid Al Futtaim Holding plans to issue a dollar-denominated bond this year.

Top 10 Global Spenders In UAE

Visitors from the UK topped the list, spending almost $500 million in 2011, according to Visa.