Gulf States Buy Stake In Virgin Mobile’s Middle East Unit

Richard Branson’s Virgin Group and GIC will be the joint largest shareholders in Virgin Mobile Middle East & Africa.

Abu Dhabi In Nearly $7bn Oil Investment In Malaysia

The emirate has signed an agreement for a petroleum storage facility in Malaysia’s Johor state.

Emirates Sends A380 Signal To Mauritius

Special service marks island’s 45th anniversary of independence – and serves as a capacity-raising hint from the airline

UAE Consumer Confidence Lowest In The GCC

The country scored much lower than the other Gulf states on the latest MasterCard Index of Consumer Confidence.

Dusit Gears Up For Regional Expansion

Its second Dubai property falls under the rapidly growing dusitD2 brand, which targets young and successful business and leisure travellers

Obama Meets Arab American Leaders Before Middle East Trip

Obama met about 10 leaders on Monday to seek input for his meetings in the region.

UK Government Promotes London As Islamic Finance Hub

More than $34 billion worth of Islamic bonds have been issued through the London Stock Exchange.

Nomura’s EMEA CEO To Leave Bank

John Phizackerley had previously said he planned to beef up staffing at the lender’s Dubai office.

GCC Tourists Spend Dhs2,440 Per Head In The UK

Visitors from Qatar and Kuwait were found to be the biggest spenders.

Qatar Picks Sarkozy To Lead Wealth Fund

France’s ex-President would take a non-executive role to help direct where to invest $650 million.

Qatar Says No More Aid To Egypt For Now

Qatar has been a key source of foreign aid to Egypt since its 2011 revolution giving $5 billion.

Gold Bounces From 2-Week Low As Stimulus Seen To Continue

Better-than-expected US jobs data helped push spot gold up 0.2 per cent to $1,580.66 an ounce.

Abraaj Buys Stake In Palestinian Games Firm

UAE-based Abraaj Capital invests undisclosed sum in Anoud Games through its Palestine Growth Capital Fund.

Lebanon’s Revised 2013 Budget Sees $3.48bn Deficit

The revised version cuts spending by more than $1 billion from an earlier draft budget.

Arab Spring Brings New Buyers For Bulletproof Cars

There is no shortage of rich individuals and governments who suddenly feel they need a little extra protection.

Pétanque Passion Comes To Dubai

The French game is quickly gaining appeal all over the world.

Logistics Firm DHL Announces Dhs100m Dubai Facility

The new facility is expected to open in the third quarter of 2014.

Shared 2022 World Cup Is ‘Crazy’ – UAE Soccer Chief

UEFA president Platini has suggested Qatar shares the 2022 World Cup throughout the Middle East and moves it outside of Summer.

UAE’s Etisalat Sees 2013 Revenue Of Up To $9.4bn

The asset disposals are expected to result in a net gain of $151 million for DP World and help boost its capital levels.

UAE-US Trade Up 34.6% In 2012, Hits Dhs91bn

The UAE’s imports from the US equalled around $22.57 billion, up roughly $6.7 billion over 2011.

Lyon Targets Daily Flight To Dubai

The city of Lyon is in talks with the UAE to boost tourism and green tech trade.

VOX Cinemas In Middle East Expansion

The chain has opened a new venue in Dubai’s Mercato Mall as it attempts to become the region’s largest operator.

Rosetta Stone To Open First Middle East Office

The global language-learning company is to set up shop in Dubai, amid several new school announcements at GESS.

Dow Hits Record High, Surges Over 126 Points

The gains came as investors poured money into blue-chip stocks on signs of an improving US economy.

Kenya Airways To Fly Dubai-Hong Kong

New route provides some competition for Emirates and follows recent codeshare agreement with Etihad

Special Report: GCC Luxury Watch Market

Strong growth projections, new models and boutique openings signal a rosy 2013 for luxury watches.

Oil Falls On Slowing Chinese Economy, Ample US Supply

U.S. crude has fallen around $8 per barrel over the last month.

Court Rules Kuwait Venture To Pay $2.48bn To Dow Chemical

Kuwait’s Petrochemical Industries Co (PIC) pulled out of a $17.4 billion joint venture deal in late 2008.

WEF Energy Report Leaves Out OPEC Members

The top 50 list of countries adjusting to future energy sources does not include any OPEC states.