Saudia Catering Unit To Launch IPO

Saudi Arabian Airlines has got approval to list 30 per cent of its catering unit on the Kingdom’s stock exchange.

IP – GDF Suez Deny Monopoly Issues

Exclusive: Utility company International Power-GDF Suez does not face market concentration in the ME.

MENA Residents Become Richer

Survey shows majority of residents are either the same or better off than this time last year.

Bahrain Rents Slump

Residential rents in some areas have fallen to 2005/ 2006 levels, and occupancy levels have reached as low as 30 per cent.

JAFZA To Repay $2bn Sukuk Early

A majority of JAFZA’s stakeholders have consented to the early redemption of the Sukuk, due in November.

Kingdom Holding Sells $200m Hotel

Prince Alwaleed’s Kingdom Holding Company will retain its stake in the Fairmont San Francisco Hotel.

Islamist, Ex-PM Eye Egypt’s Top Spot

The Muslim Brotherhood and an ex-PM have secured the most votes in the first round of Egypt’s presidential elections.

Omani Bank IPO Attracts $1.77bn

Bank Nizwa, the country’s first Islamic bank, will be listed on the Muscat Securities Market on June 12.

ME GDP To Grow 3.8% In 2012

The forecast for Middle Eastern economies has improved since the start of the year, said ICEAW.

More CEOs Hang Onto Their Jobs

Companies have returned to pre-recession levels of CEO turnover, suggesting outlooks are stronger.

UAE’s Global Trade Ranking Drops

The country is ranked 19th in the World Economic Forum’s Global Enabling Trade Report this year.

Facebook, Banks, Sued Over IPO

Investors have accused the company of hiding weakened growth forecasts ahead of its $16 billion IPO.

MENA Banks Need Capital Boost

A new report states that 20 per cent of MENA banks need capital to meet the Basel III banking requirements.

Nationals Snap Up Qatar Property

Real estate projects in Qatar are not yet seeing an interest from global investors, say industry experts.

Bahrain To Issue $1.25bn Bond

The Gulf state plans to issue the bond in the second or third week of June, a central bank official said.

Etisalat To Cut Rates By 30%

UAE telecoms operator Etisalat will reduce international call tariffs from the second half of 2012.

Saudi Signs $3bn BAE Deal

The Kingdom’s defence ministry will be buying military aircraft from UK defence company BAE.

Eurozone Crisis Is Worst Global Risk

The OECD has warned that a worsening of the crisis could have “serious consequences” for the global economy.

Egypt Begins Landmark Election

Egyptians begin voting to elect their president in a poll believed to be the country’s first independent one.

Qatar’s Property Market Stabilises

As Cityscape Qatar begins, experts say that despite oversupply in the market, demand is catching up.

GCC Family Offices Growing

A new study shows family businesses are investing more in their corporate assets than their personal ones.

KSA Shielded From Eurozone Crisis

Saudi Arabia’s spending is on track as the Kingdom has seen limited impact from the Eurozone fallout.

TAQA Eyes Turkey Investments

The Abu Dhabi National Energy Company (TAQA) is studying energy investments in Turkey.

New Guidelines For Saudi Journalists

Journalists in the Kingdom have to be accredited by the Saudi Journalists Association, the Cabinet has said.

US Firm Plans 500 Hires In Abu Dhabi

Digital Domain Media Group is opening up an animation and visual effects studio in Abu Dhabi’s twofour54.

Dubai Duty Free Ups Loan To $1.5bn

The airport retailer has increased the size of its loan facility because of high demand, an official has said.

10 Reasons Why Dubai Is Back

Gulf Business rounds up ten indicators that show that the emirate is back on the growth trajectory.

Abu Dhabi Picks Banks For Merger

Four banks have been chosen as advisors for the proposed merger been Aldar and Sorouh, according to sources.

GCC SWFs Pull Out Of Europe

Gulf sovereign wealth funds are reducing international investment and focussing on the region, says a new study.

Drake & Scull Eyes $300m Iraq Deal

The contract will be an oil and gas project to build a pipeline in Basra, said the company’s CEO.