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Saudi Posts 5.9% Q1 GDP Growth

The Kingdom’s GDP growth during the first quarter of 2012 reduced slightly compared to the fourth quarter of last year.

Bank Of Palestine Launches In Dubai

Exclusive: Palestine’s largest bank to launch Dubai office in 2013 to serve 200,000 Palestinians.

Oman LNG Eyes 20% Output Rise

The company currently produces around eight million tonnes of liquefied natural gas a year.

Saudi Domestic Tourism To Grow

Official statistics reveal that local tourism in the Kingdom will grow five per cent during summer this year.

Dubai Stops ‘One Cheque’ Rents

A new survey finds that most landlords in Dubai now allow tenants to pay in two or four cheques.

Qtel Raises Asiacell Stake

Qatar Telecom will pay $1.47 billion to increase its stake in Iraqi operator Asiacell to 60 per cent.

Islamic Finance Innovation “Slow”

The Islamic finance industry needs to create new and diverse products to grow, says Noor CEO Hussain Al Qemzi.

Microsoft Warns Of Flame Virus

The American computer giant has warned Middle East PC users of the virus penetrating the region.

MENA English Speakers Earn More

English speakers in the region can earn three times more than those who don’t speak the language, says study.

Etihad Buys Virgin Australia Stake

Abu Dhabi-based Etihad buys a four per cent stake in the Australian airline for an undisclosed price.

Emirates Launches Vietnam Route

Dubai-based Emirates Airline has begun a non-stop daily flight service to Ho Chi Minh City.

UAE Confirmed As IRENA HQ

The country has signed a ‘permanent headquarters’ agreement with the renewable energy agency.

UAE Cuts 2012 GDP Growth Forecast

The UAE’s GDP will grow at around three per cent this year, the country’s economy minister has said.

DIFC Unit Gets $1.04bn Loan

DIFC Investments has secured a five-year syndicated loan to repay its Sukuk maturing this month.

Saudi Plans SAR1bn Projects

The Kingdom has approved municipal projects worth SAR1 billion to be implemented across the country.

HSBC Gets Nod For Oman Merger

The European lender has received approval to merge its Omani business with Oman International Bank.

Etihad Launches Brazil Flight

The Abu Dhabi-based airline announced that it will operate daily flights to Sao Paulo from June next year.

Saudi Unlikely To Cut Oil Supply

Despite oil prices falling below $100 a barrel, Saudi Arabia will not cut supplies anytime soon, say experts.

Abu Dhabi Airport Posts 22% Growth

Over 1.2 million travellers passed through the Abu Dhabi International airport during April 2012.

Nakheel Posts Q1 Profit

The Dubai-based developer’s first-quarter revenue rose 159 per cent to Dhs1.35 billion in the first quarter of the year.

DIFC Unit To Sign $1bn Loan

The loan will be partly guaranteed by the Dubai government, according to sources.

ME Airlines See 16% Growth

Passenger demand in the region grew 16 per cent year-on-year in April, according to the IATA.

Abu Dhabi Bank Opens UK Branch

Abu Dhabi Islamic Bank’s UK branch, located in an upscale development, hopes to target wealthy Gulf clients in Britain.

Top 10 IPOs In The GCC

Gulf Business rounds up the top IPOs issued in the region in terms of capital raised, as revealed by Ernst and Young.

Facebook Has 45m MENA Users

The social networking site has opened an office in Dubai to try and boost advertising revenues from the region.

Qatar Arrests Five Over Mall Blaze

Five management staff from the Villagio Shopping Mall have been detained over the incident that killed 19 people.

Kuwait’s Global Posts Q1 Loss

Kuwait’s Global Investment House saw its net loss narrow to $39.3 million in the first quarter of 2012.

UAE Issues Midday Work Ban

The ministry of labour has said that outdoor workers will get a two and a half hour midday break from June 15.

Qatar Safety Questioned

A day after a shopping mall blaze killed 19 people, two more fires have broken out in the country.

Saudi Issues Travel Warning

The Kingdom has warned its citizens not to travel to Yemen due to increasing insecurity in the country.