ME Airlines See 23% Rise In Passengers

The strong performance of regional airlines in February this year, suggests that the region has now “fully recovered,” said IATA.

Foreign Access To Saudi Bourse Will Be Slow

The opening up of the Kingdom’s stock market to foreigners will be gradual, Saudi Arabia’s capital market regulator has said.

Majority Of UAE Workers Expect Pay Rise

According to a new survey, 63 per cent of employees in the UAE expect a wage hike in the next 12 months.

Poor Service Fails GCC Banks

While regional banks are reporting good growth rates, customer service has to improve, warns a new study.

Etihad’s Revenues Soar In Q1 2012

The Abu Dhabi -based carrier recorded a 28 per cent year-on-year rise in revenues during the first quarter of this year.

Royal Jordanian In Merger Talks

The airline is struggling with rising fuel costs and increasing competition in the region.

Korea Eyes More Nuclear Plants In UAE

Korea Electric Power Corp, which is already building four nuclear power plants in the UAE, will begin talks to construct four more in the country.

Saudi Rejects Expat Tax Proposal

A majority of the Shoura Council members agreed that imposing an income tax on expatriate workers would be “untenable.”

Drydocks Files For Insolvency Protection

The move is expected to force all the creditors of the Dubai-based shipbuilding unit to agree to its $2.2 billion debt-restructuring plan.

$20m Boost For ME SMEs

RED, Abraaj’s small and mid-cap investment platform, has invested $20 million in the region so far this year.

NMC Raises $187m From IPO

The UAE-based healthcare provider listed its shares on the London Stock Exchange.

DFM Suspends Trading In Al Mazaya

Update: The Kuwaiti developer’s shares have now resumed trading on Dubai Financial Market.

Kuwait’s Bourse Suspends Trade In 19 Firms

The companies, which failed to report earnings on time, join 12 other firms suspended earlier this year.

SEC Receives $1.4bn Loan

Saudi Electricity Company will use the amount, loaned by a group of international banks, to build a power plant in Rabigh.

Abu Dhabi Seizes Dhs4m Fake Goods

The emirate’s Department of Economic Development (DED) seized more than 24,000 counterfeit products last year.

Clinton Expresses “Regret” Over UAE’s Move

The UAE has shut down the Dubai office of the National Democratic Institute, a US-funded pro-democracy group.

HSBC Buys Lloyds Assets In UAE

The acquisition includes the retail, commercial and corporate banking businesses of Lloyds in the country.

OPEC Output Rises In March

The oil supply from the OPEC nations in March this year increased to its highest level since October 2008.

Zain Confirms Dividend Issue

The Kuwait telco also said it would back a subscription by its Saudi affiliate.

Arab Multinationals Spread Wings

The GCC is among the least economically integrated regions in the world. But that is changing.

Supply Offsets Iran: Brent Nears $124

Oil edges down as US crude stocks offset Iran fears.

DP World Profit Rises to $683 Million

The UAE-founded international ports company has cut its debts.

DIB Repays $750 million Sukuk

The bank said that it repaid the five-year Sukuk from its own resources.

More Saudis Seek Unemployment Benefits

The number of beneficiaries has risen by 170 per cent from December 2011.

Saudi Plans Ambitious Nuclear Programme

The Kingdom is planning to spend more than $100 billion to establish 16 nuclear energy plants in the country.

Dubai Drydocks To Restructure $2.2bn Loan

Dubai’s ship building unit will ask its syndicated lenders to sign a lock-up agreement.

Global Shoppers Spend $497m During DSF

Interestingly, visitors from Russia were the biggest spenders in the UAE during the Dubai Shopping Festival, according to Visa.

JAFZA Eyes Loan Launch

Dubai’s Jebel Ali Free Zone is planning to launch a syndicated loan to partly refinance its $2 billion Sukuk maturing in November.

World Oil Import Bill May Hit $2trn

The International Energy Agency has warned that if crude oil prices don’t fall, oil import bills may soar to record levels this year.

Pension Fund Will Benefit UAE Expats

As officials in Dubai complete the study for an expatriate pension scheme, experts say that the move will protect workers and improve the economy.