Arabtec To Hire “Thousands”

The Dubai developer also said that its funding needs have eased, and that it has no plans to renew talks with Aabar for a stake sale.

Saudi Oil Exports Rose In January

The Kingdom’s oil exports rose 143,000 barrels per day in January compared to December, according to the Joint Data Initiative.

Sorouh Elects New Chairman

The Abu Dhabi property developer, which is eyeing a possible merger with Aldar, replaced its chairman last week.

Ecclestone: “Nobody’s Going To Shoot”

F1 boss says there won’t be violence at Bahrain race and protests should be peaceful.

Arab Spring Hits Investor Confidence

The regional unrest will continue to dampen investor confidence in the Middle East this year, according to a survey by the CFA Institute.

Kuwait Airways Strike Costs $1mn

The strike caused by the carrier’s employees over a pay hike led to the cancellation of 10 flights within a four-hour period.

UAE To Reduce Debts Of Nationals

The central bank has instructed lenders to find means of reducing the debt burden of UAE nationals.

GCC Banks Need Better Services

While banks in the region are returning to pre-crisis levels of profit, they have to improve efficiency, says AT Kearney.

Tunisia Eyes Islamic Finance

The Tunisian government has set up a working group with Islamic finance experts to study its development in the country.

Aldar, Sorouh Dealings “Transparent”

The merger talks between the two Abu Dhabi-based developers are in compliance with corporate governance, a senior official has said.

UAE To Grow 2.3% In 2012

The International Monetary Fund said that the UAE’s GDP growth would be moderate this year as economic recovery continues.

UAE Spa Industry Tops $10bn

The region has witnessed a growing shift towards the wellness experience.

UAE Could Launch $1bn Bond In 12 Months

The UAE will issue its first federal sovereign bond between 12 and 18 months after it is prepared.

Dubai CFOs On Hiring Spree

The majority of financial executives in Dubai are planning to increase staff this year, according to a survey.

Dubai Bank Ratings Removal Requested

Emirates NBD requests withdrawal of Dubai Bank’s Fitch and Moody’s ratings.

GCC To Produce 10% Of World Aluminium

Investment in the GCC’s aluminium industry has reached $14 billion to date.

ADX Denies Trade Inquiry

The Abu Dhabi Securities Exchange has denied reports that it’s going to investigate trading patterns of Aldar and Sorouh.

Investcorp Buys US Properties

The Bahraini investment company has acquired a portfolio of properties in the San Francisco Bay Area for $65 million.

Will Morocco Join The GCC?

There has been no consensus on Morocco joining the elite bloc as yet, but could this be the beginning of a beautiful friendship?

ENBD May Lay Off 15% Of Staff

According to sources, the UAE-based bank is planning to let go of its employees to cut costs. The bank has refused to comment.

SAP To Invest $450mn In MENA

The global software firm is planning to hire 500 new employees and open more offices in the region.

Qapco, Taiwan’s CTCI Sign Deal

Qatar Petrochemical Company has awarded construction contracts worth QR604 million to expand its ethylene plant.

Dubai Mulls Essex House Hotel Sale

Government-owned Dubai Group is currently reviewing the potential sale of the Manhattan-based property.

GCC Oil And Gas Reserves Worth $65trn

The region’s hydrocarbon reserves account for almost a third of the world’s reserves, says QNB Capital.

StanChart Seeks Saudi Licence

The bank has reportedly applied for a full commercial banking licence to expand its operations in the kingdom.

Aldar, Sorouh Eye Merger

The UAE-based property developers are discussing ways to merge in a government-backed tie-up.

KIA Gets China Stock Market Quota

Kuwait’s sovereign wealth fund has obtained approval to initially invest up to $300 million in China’s securities market.

Saudi Inflation Rises

The kingdom’s annual inflation rate reached a 14-month high in February mainly because of increasing food and housing costs.

Abu Dhabi Will Issue New Hotel Licences

The emirate will not stop issuing new hotel licenses as previously reported by local media, but will be selective in the number it grants.

Sharjah Wooing Tourists

More than 1.5 million tourists visited the emirate last year, and the city is putting in several efforts to attract more visitors in the future.