#World

UAE’s Hormuz Bypass Opens

The new pipeline is expected to end the UAE’s dependence on the shipping route that Iran has threatened to block.

Brent Prices Hit 18-Month Low

Poor outlook for the US economy and rising supply pushed oil prices to around $92 per barrel on Thursday.

Dubai Draws Lebanese Tourists

The number of Lebanese visitors staying at Dubai’s hotels rose two per cent year-on-year during Q1 2012.

Jumeirah Eyes Indian Market

The luxury hotel chain group has specific discussions going on in Mumbai and Delhi, its chairman has said.

Four Seasons To Open Dubai Resort

The Canadian hotel operator announced that it will open its first resort in Dubai by mid-2014.

Brent Touches 17 Month Low

Oil prices briefly fell below $95 a barrel on Tuesday on Eurozone worries, but bounced back again.

Top MENA Picks For Retailers

The UAE ranks highest in the region for global retail expansion, says a report by A.T. Kearney.

World Markets Up On Greek Results

The pro-bailout party has won the elections in Greece, ensuring that the country stays within the Eurozone.

Portugal Not To Exit Eurozone

Country will not become the next Greece, says Her Excellency Cecilia Meireles, Portugal’s Minister of Tourism.

Kuwait To Invest $150m In Asian IPO

Kuwait Investment Authority is reportedly planning to invest in Malaysia’s IHH Healthcare’s $2 billion IPO.

Ben Ali Gets 20-Year Jail Term

Tunisia’s ousted president has been sentenced to jail in absentia for inciting violence and murder.

Dubai Retailers In Chinese Push

Luxury retailers in the emirate are hiring Cantonese and Mandarin speaking staff to cater to Chinese visitors.

Most Expensive Cities In MENA

Beirut beats Abu Dhabi to reach the regional top spot on Mercer’s global cost of living study.

Saudi Eyes Joint Grid With Turkey

The Kingdom’s cabinet has approved authorities to hold discussions with Turkey for a joint electricity grid.

MENA Stocks Could Double By 2014

Arqaam Capital says that the regional corporate bond market will also grow substantially by 2014.

Mubarak’s Health “Very Critical”

Former Egyptian president Hosni Mubarak is in a critical condition and needs urgent care, his lawyer has said.

Brent Prices Drop Below $97

Concerns about the Eurozone debt crisis pushed crude oil prices towards its lowest so far this year on Tuesday.

ME Airlines To Post $400m Profit

Regional airlines are expected to see profits drop in 2012 because of the Eurozone crisis, says IATA.

Oil Prices Reach Above $102

The $125 billion aid package received by Spain to boost its banks has revived oil demand hopes.

Spain Receives 100bn Boost

Eurozone ministers have agreed to lend the amount to help Spain revive its struggling banks.

India’s SpiceJet Starts Dubai Route

The Indian budget carrier will have direct daily services connecting Delhi and Mumbai to Dubai.

Tanzania Eyes UAE Investors

The African country has invited the UAE to invest in industries relating to oil and gas exploration.

Nasdaq Reimburses Facebook Claims

The stock exchange will pay $40 million to investors hit by technical glitches during Facebook’s IPO debut.

UN Issues Eco-Warning

Over-consumption and globalisation are leading to unprecedented levels of eco-damage, says the UNEP.

Qtel Raises Asiacell Stake

Qatar Telecom will pay $1.47 billion to increase its stake in Iraqi operator Asiacell to 60 per cent.

MENA English Speakers Earn More

English speakers in the region can earn three times more than those who don’t speak the language, says study.

Etihad Buys Virgin Australia Stake

Abu Dhabi-based Etihad buys a four per cent stake in the Australian airline for an undisclosed price.

Emirates Launches Vietnam Route

Dubai-based Emirates Airline has begun a non-stop daily flight service to Ho Chi Minh City.

Soros: 90 Days To Save Euro

Billionaire investor George Soros warns European authorities to act quickly or risk the Euro collapsing.

HSBC Gets Nod For Oman Merger

The European lender has received approval to merge its Omani business with Oman International Bank.