France’s Alstom Wins $227m Saudi Steam Turbine Deal

The company will supply four 720MW steam turbine generator sets for the Shuqaiq power plant.

Barclays Called Reckless Over $511m Payments To Qatar Investors

The payments were made under “advisory service agreements” linked to Barclays’ emergency fundraising with Qatari investors.

Qatar-Egypt LNG Supply Talks On Hold As Summer Peak Passes

Qatar agreed in May to donate five cargoes of liquefied natural gas (LNG) to Egypt.

UN Confirms Chemical Weapon Use In Syria Attack

U.N. chemical investigators confirmed the use of sarin nerve agent in an August 21 poison gas attack.

Prince Alwaleed To Retain Twitter Stake, Sees IPO By Early 2014

The Saudi billionaire invested $300 million in the social media giant in late 2011.

Wealthy Individuals To Be Main Buyers Of Zain Iraq IPO – CFO

The telecoms operator is looking to raise more than $1 billion through its IPO next year.

Serbia Seeks To Borrow Up To $3 Billion From UAE – Official

The money will be used to repay “the most difficult debts” and regurgitate the economy, said Serbia’s deputy prime minister.

Occidental Seeks Buyers For Stake In Middle East Unit

Sources say the company could sell 30 per cent to 40 per cent of its Middle East business unit.

US, Russia Agree On Syria Weapons, Obama Says Force Still Option

The accord demands that Syrian President President Bashar al-Assad account for his secret stockpile within a week.

Syria’s Chemical Weapons; Decades To Build, Years To Destroy

Syria’s stockpile is believed to be spread over dozens of sites and include research and development centres, some of them underground.

Ex-Barclays Team Plans London-Based Islamic Asset Firm

Arabesque is due to open to investors in the first quarter of 2014 and will focus on value-based investment strategies.

Kuwait To Transfer $2bn Aid To Egypt

Kuwait’s state news agency said the package would comprise a $2 billion central bank deposit, a $1 billion grant and $1 billion in oil products.

StanChart Appoints MENA CEO As Head Of Islamic Arm

Christos Papadopoulos will lead the bank’s expansion in sharia-compliant banking.

ME Insurance M&A Activity At All Time Low

Transactions in the Middle East between July 2012 and June 2013 dropped to nine deals as compared to 13 in the previous year.

Gulf Arab States Still Want Deterrent Action Against Syria

Bahrain’s Sheikh Khaled bin Ahmed al-Khalifa was speaking at the start of a meeting of foreign ministers from the six GCC countries.

Apple Launches iPhone 5S And $99 iPhone 5C

The new phones will be available in the US from September 20.

UAE Salaries To Increase 5% In 2014

Salaries in Saudi Arabia are expected to increase on average by six per cent, while Oman and Kuwait’s pay rises will grow by 5.6 per cent.

Top 10 Most Expensive Construction Markets

Qatar tops the list as the most expensive construction market in Middle East.

UAE’s Abraaj Invests In Morocco’s Steripharma

Investment will help pharmaceutical manufacturer Steripharma to step up its exports to the private sector of North and sub-Saharan Africa.

iMENA Invests $8m In Hellofood For ME Expansion

iMENA Holdings and Rocket Internet have partnered to invest in the regional operations of Hellofood, a global food ordering service.

Cebu Pacific Air Gears Up For Dubai Launch

Low-cost airline has taken delivery of its second A330 which will be deployed on the the carrier’s first long-haul flight to Dubai from October

Obama Sees Possible Breakthrough In Syria Weapons Proposal

Russia has proposed that Syria hand over its chemical weapons for destruction, which could avert planned U.S. military strikes.

Saudi Diplomat Kidnapped In Yemen Asks Family To Stage Protests

Militants seized Saudi vice consul Abdullah al-Khalidi in the southern Yemeni port city of Aden in March 2012.

Qatar To Convert $2bn Egypt Central Bank Deposit Into Bonds

Qatar sent Egypt $3 billion in May of which it converted $1 billion into three-year bonds.

Dubai’s Al Futtaim Offers $86m For Kenyan Car Retailer

Gulf Arab companies are boosting their investments in Africa lured by the continent’s untapped resources.

UAE Ranked Happiest Arab Country, 14th Overall

A study finds the United Arab Emirates is a happier country than the United States and the United Kingdom.

GCC Real Estate Industry Heats Up Amidst Strong Competition

Local firms have to raise standards as they face increasing competition from international property developers, says new report.

Apple iPhone 5S – Leaks And Rumours

Leaked pictures have fuelled speculation that the phone will have a built-in biometric fingerprint scanner.

UAE Builds $2m Mosque In Dundee, Scotland

The mosque, funded by the Al Maktoum foundation, is the first of its kind in Dundee.

Dubai’s DAE Ends Merger Talks With BBA

The companies were holding talks to merge certain parts of their businesses.