News


News from the MENA region


Nakheel said to eye tenders worth nearly $2bn in 2015

Dubai developer says it start by seeking bids in January for its Deira Island Mall project


Etihad-backed Aer Lingus rejects takeover approach from BA owner

British Airways-owner IAG is keen to gain control of the Irish airline’s slots at London’s Heathrow Airport.


Dubai’s bourse leads Gulf stock markets rebound

Dubai’s index closes nearly 10% up on Sunday to back up Thursday’s 13% advance


Dubai Duty Free reports $51m sales during anniversary event

Airport retailer offered 25% discount on range of products between Dec 17-20 to mark 31st anniversary


Bahrain energy projects not affected by oil slide – minister

Abdul-Hussain bin Ali Mirza upbeat over import terminal for natural gas and expansion of a major pipeline and refinery


Bomb blast in Bahraini village wounds 3 policemen

Interior ministry says explosion occurred in Bani Jamra, a Shi’ite village northwest of the capital Manama


Dubai’s DEWA raises annual budget to $6.2bn in 2015

State utility says it is increasing funds available for projects in bid to cope with rising power, water demand


Saudi forces kill four militants in Awamiya region

Interior ministry says troops raided militant hideout in Awamiya town and killed the four in an exchange of fire


Oman sovereign fund boosts buying of local stocks

State General Reserve Fund chief says buy-up comes after main index slides 20% from November peak


Raytheon wins $2.4bn deal for Qatar Patriot missiles system

US weapons maker will supply 10 Patriot systems to help Gulf state to beef up its defences


Dubai health chiefs close four clinics for violations

Dubai Health Authority says day-care surgery centre, a plastic surgery clinic, an aesthetics clinic and a dermatology clinic shut down


Arab education chiefs meet to debate key challenges

World Bank exec says gov’ts need to shift emphasis towards improving quality and relevance of education systems


Hyatt says new Dubai Creek hotel, apartments to launch in March

464-room Hyatt Regency Dubai Creek Heights will feature 76 luxurious suites and 405 private apartments


Nakheel said to plan restart of delayed $550m Vietnam project

Reports suggest Dubai property developer is keen to resume work on project in Quanh Ninh province


FIFA agrees to publish Qatar 2022 bidding report

Executive committee votes unanimously to publish ‘appropriate’ form of Michael Garcia’s report


Dubai’s bourse rockets 13% as oil price rebounds

Stock markets in the UAE, Saudi Arabia soar as the price of Brent jumps to nearly $63 per barrel


Saudi minister says oil price slide ‘temporary’, remains optimistic

Oil Minister Ali al-Naimi says it is difficult for Saudi Arabia and OPEC to reduce output


Dubai Tram crashes into car near JBR

Emergency services attend the scene but no damage caused in first incident involving new transport system


Kuwait says accepts Iraq request on Gulf war reparations

Iraq is seeking to defer payment of $4.6bn for one year as its economy is hit by falling oil price, war with ISIL


Kellogg outbids Abraaj for third time in race for Egypt’s Bisco

Breakfast cereal giant raises bid for snack maker, outbidding Dubai-based private equity group


FIFA investigator Garcia quits over handling of Qatar 2022 report

US lawyer cites a ‘lack of leadership’ for resignation; comes a day after FIFA dismissed his complaint over report publication


Saudi Arabia’s rulers reconsider ties to Wahhabi clergy

Ruling family increasingly view the teachings of some of its ultra-conservative clergy as a domestic security threat


Slumping oil won’t derail $500bn Gulf infrastructure plan

Rich GCC nations will deploy huge reserves to maintain a breakneck development pace


Big Gulf sell-off fuelled by credit, lax regulation

New impetus to governments in the region to improve financial regulation to reduce the credit-fuelled volatility


Saudi rebounds on spending pledge; Gulf markets stabilise

Saudi bourse jumps more than 4% but Dubai’s index closes 1.6% down as rebound is halted by fresh selling


UAE economy minister reassures investors after bourse plunge

Sultan bin Saeed al-Mansouri says ups and downs in stock markets are normal, likely to resume upward trend


Qatar oil minister says market will settle eventually

Mohammed al-Sada says OPEC and producers are closely watching declining oil prices


FIFA rejects investigator’s complaint over Qatar 2022 report

Appeal Committee says complaint by Michael Garcia over FIFA’s summary of his report is not admissible


Fitch delivers upbeat verdict on GCC banking prospects

Ratings agency says banks in smaller Gulf countries could be impacted by sustained drop in oil prices


Oil prices are now unsustainably low: Kemp

Reuters market analyst John Kemp says if prices remain at current depressed levels, almost all shale drilling activity will eventually cease


Police say Sydney cafe hostage siege is over

Media reports suggest Iranian gunman is one of two people killed as police storm Sydney cafe after stand-off


Launch of Alwaleed’s Alarab news channel delayed to Feb 1

Saudi billionaire’s new 24-hour news channel was due to begin transmission before the end of 2014


Islamist group criticises Egypt over arrest warrant for cleric

Interpol this month issued a Red Notice alert for Qatar-based Sheikh Youssef al-Qaradawi


S&P raises Aldar’s credit rating to investment grade

Standard & Poor’s is second rating agency to recognises improved financial profile of Abu Dhabi developer


Most Gulf markets stabilise as oil price slide halts

Dubai’s bourse inches up after tumbling more than 14% during two previous sessions


Dubai’s bourse rocked by biggest daily decline in six years

Dubai Financial Market tumbles 7.6%, wiping out all its year-to-date gains; Emaar, Arabtec lose 8% and 9.7% respectively


OPEC chief says oil slide ‘beyond fundamentals’

Abdullah al-Badri urges Gulf states to continue investing in exploration and production


Etihad-backed Jet launches two new Indian routes from Abu Dhabi

Abu Dhabi Airports announces start of daily flights to Goa and Lucknow