#Breaking News

HLG Wins $515mn Habtoor Contract

The Habtoor Leighton Group (HLG), part of Australian firm Leighton, will work on the $1.3 bn Habtoor Palace project.

Etisalat May Restructure

The telecoms operator said it is discussing restructuring options as it struggles to stall dropping profits.

QIA Buys Credit Suisse London HQ

Qatar’s sovereign wealth fund acquired the building for an undisclosed sum and has now leased it back to the bank.

ENBD Plans Renminbi Bond Sale

The bank has mandated Emirates NBD Capital, HSBC and Standard Chartered Bank to arrange investor meetings.

Australia Launches Mega GCC Drive

Victoria’s $16.5 billion tourism industry has benefitted from Emirates’ marketing efforts, which include the Melbourne Cup

MENA, Russia Trade To Grow 14%

The region’s trade with Russia, India and China is set to grow much faster than trade with developed economies.

11.8mn Ride Dubai Metro’s Green Line

The recently inaugurated Green Line saw more than 11.8 million passengers during its first five months.

Gulf Funds Eyeing ONGC Stakes

Sovereign wealth funds from the UAE and Kuwait have reportedly agreed to buy stakes in India’s ONGC.

GCC Population To Hit 49.8mn

Greater demand for expatriate workers boosts GCC population growth.

Al Marai Launches Sukuk Roadshow

The Gulf’s biggest dairy firm by market value, plans to start a roadshow this week.

Iran Could Survive Sanctions

Tightening sanctions against Iran look set to shrink its economy but it won’t be a knock-out blow.

Al Arab To Adopt New Voice

Prince Alwaleed says his upcoming Arabic news channel will stand out from the competition.

Emaar 2011 Profit Falls 27%

The company’s net profit in Q4 2011 increased by 161 per cent year-on-year.

China Sends Syrian Envoy

China’s Foreign Ministry said it would send a senior diplomat to Syria for talks on Friday.

Brent Falls On Greece Woes

Brent crude slips to $118 as a final decision on Greece’s bailout package faces a possible delay.

MENA Gains Momentum

The region’s finances are back on track said the London Business School in Dubai.

ENBD Q4 2011 Profit Fall

The bank reported that net profit for the full year increased by six per cent from 2010.

A damp 2011 For GCC IPOs

Issuers and investors remained wary of volatility in the capital markets, according to PwC.

QNB Prices $1bn Bond

The bond was five times oversubscribed and received orders from more than 270 investors globally.

Dubai Will Support State Entities

The Dubai government will continue to help government-related bodies, says Sheikh Ahmed bin Saeed al-Maktoum.

Kuwait Issues Smoking Ban

Smoking cigarettes and shisha in most public places will now be punishable by law.

Kuwait’s Central Bank Governor Resigns

Sheikh Salem Abdul-Aziz al-Sabah blamed a rise in public spending for his decision.

Mashreq Loans $80mn To Gulf Air

The struggling Bahraini carrier will use the amount to meet its medium-term capital needs.

Saudi Blogger Deported From Malaysia

The columnist fled Saudi Arabia after his comments on Twitter caused an outrage in the kingdom.

SABIC, Sinopec In $5.3bn Contract

The two companies are in negotiations to build a methanol complex in Trinidad and Tobago.

Microsoft Will Not Take Over Nokia

The Finnish telco partnered with Microsoft in a bid to claw back market share last year

Etihad Reports $14mn Net Profit

This is the first time that the UAE airline, started eight years ago, has recorded a profit.

Batelco Sells STel Stake

The Bahraini telecoms operator will receive $174.5 million, the same amount that it paid to purchase the stake in the Indian firm.

US Firm Wins $8.2bn Qatar Contract

Colorado-based CH2M Hill has won the FIFA World Cup construction management contract.

Eurozone Is A “Train Wreck”

Prominent economist Nouriel Roubini has predicted that the Eurozone will collapse in a few years.