Arab Bank chairman quits over CEO dispute

Abdel Shoman, chairman of Jordan-based Arab Bank, reportedly resigned after a disagreement with key shareholders.

Hikma H1 Revenues Up 34.8%

Hikma Pharmaceuticals delivers a strong first half performance in 2012.

Al Ain Dairy Eyes Global Expansion

Regional dairy producer is approaching the international market and commencing production of camel milk products.

Gulf States Warn Citizens To Leave Lebanon Immediately

The UAE, Saudi Arabia and Qatar have all told their residents to leave the country amid threats of kidnappings.

EFG-Hermes Q2 net profit down 66%

The Egyptian investment bank posted a net profit of $4.4 million as revenues from its brokerage operations declined.

Islamic Finance Body Plans Scholar Accreditation

A Malaysia-based association of Islamic scholars is planning to develop a global code of ethics to improve standards in the industry.

Standard Chartered Reputation ‘Damaged’ After Fine

Standard Chartered may have settled its Iran regulatory dispute for $340 million but investors remain wary.

Brent Ends At Three Month High On US Data

Brent oil futures ended at a fresh three-month high on Tuesday as strong US retail sales, tighter North Sea crude supplies and speculation about economic stimulus outweighed weak euro zone data

The Highest Offices in the World

Gulf Business brings you a list of the tallest towers from across the world.

Emirates Resumes Flights To Libya

The Dubai-based airline will begin operating flights to Tripoli from October 29.

Yemen To Export Jet Fuel As Refinery Output Resumes

The Aden refinery resumed production after halting operations for nine months because of attacks on the country’s main oil pipeline.

Precious Gold Steady; Platinum Discount At Record

Gold edged up on Monday, extending its winning streak into a seventh session as expectations rose of more stimulus measures from central banks around the world.

Mursi Orders Military Chief To Retire

Two of Cairo’s most highly-ranked generals have been told to step down from their positions, on orders of the president.

Top Ten Salaries in the Middle East

Sales and marketing managers take home the region’s highest pay packets

5 minutes with… Carsten Schaeffer, VP Lufthansa EMEA

A quick catch up with the regional boss of the Germany’s national carrier.

Qatar Deposits $2bn To Support Egypt

The Gulf state is aiming to provide a much needed boost to support Egypt’s declining economy.

Apple Drops YouTube App In New Software

Next generation iPhones and iPads will no longer have Google’s YouTube app pre-installed in the software.

Standard Chartered Questions New York Action

New York’s top bank regulator has threatened to revoke the bank’s state licence over alleged Iran ties.

Saudi Grants Licence To Chinese Bank ICBC

The Kingdom’s cabinet has given a licence to the Industrial and Commercial Bank of China (ICBC) to open one branch in Saudi.

Standard Chartered May Lose NY Licence Over Iran Ties

New York’s top bank regulator has accused the UK-based bank of hiding $250 billion in transactions tied to Iran.

Exclusive: US Ambassador On Middle East Turmoil

American Ambassador to the UAE Michael Corbin speaks to Ian Fairservice and Alicia Buller about his hopes for Middle East economic stability.

Middle East Airlines Post Strong Growth Rates

Carriers in the region saw passenger demand increase by over 18 per cent year-on-year in June, says IATA.

Egypt Invites IMF Officials To Resume Loan Talks

A $3.2 billion loan from the International Monetary Fund will help Egypt handle a balance of payments crisis.

Saudi Leads Rise in M&A Deals

Saudi Arabia led the region’s M&A activity in July with two mega deals, followed by Jordan and Oman.

The Gulf’s Top Five Offices

Gulf Business takes a look at the region’s coolest offices:

OPEC Oil Output Drops In July On Iran

Supply from OPEC members fell by 450,000 barrels per day (bpd) in July to 31.2 million bpd, a survey has found.

Olympics: Saudi Judo Athlete Allowed To Wear Hijab

Wojdan Shaherkani had refused to take part in the judo competition if she was not permitted to wear the hijab.

Arab Bank Posts 10% Rise In H1 Net Profit

The Jordanian bank saw increased profits due to lower provisions and a rise in operational income.

Saudi CEOs Earn Highest Salary

Where is the best place to make your millions in the region? Gulf Business ranks the GCC states in order of highest earning potential.

Egypt’s EFG Hermes Confident Of QInvest Deal By October

The Egyptian Financial Supervisory Authority had rejected the decision, asking EFG to provide additional information.