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News from the MENA region
EXCLUSIVE: Zawya close to US$40m sale
Thomson Reuters among front-runners understood to be finalising buyout of Middle East portal
Starwood to move HQ to Dubai for one month
Move is part of US hotelier’s plan to tap into growth potential in Middle East
London Islamic Bank eyes MidEast expansion
Sharia-compliant lender plans to target rich Gulf residents with UK ties
Man City boss eyes new players for Euro bid
Abu Dhabi-owned Premier League club set to strengthen squad in summer, says Mancini
Brent trades near 4-month low on Greece
Brent crude for July was down 36 cents at US$109.39 by 0332 GMT, after slipping to US$109.01
Saudis, soaring costs may keep oil above $100
Oil industry execs forecast oil price to remain in triple figures for the year ahead – survey
Bahrain seeks arrests over home-made bombs
Gulf kingdom issues warrants for 20 people as part of probe into injuries to policemen
Etihad boosts senior team to drive Australasia ops
Abu Dhabi carrier appoints former Qantas exec as it aims to grow business down under
UAE gov’t firms face $30bn debts due in 2012
IMF also says ‘significant amount of debt’ due in 2014-15; welcomes Dubai consolidation
Saudi Electricity signs $1.25bn deal for power plant
Gulf kingdom’s utility giant plans to build new power station outside the capital Riyadh
Qatar builds $3bn stake in Germany’s Siemens
Gulf state adds to global portfolio with stake in Germany’s most valuable company
Oman set to add 2,000 hotel rooms in ’12/13
Tourism chief says country seeing strong investor demand; growth of niche resorts
‘No major changes’ at Man City, says chairman
Khaldoon Al Mubarak says improvements to squad will only be made in ‘manageable way’
IMF sees Kuwait using all oil savings by 2017
International Monetary Fund says fund will be exhausted at current level of spending
Iran slams Saudi-Bahrain union plan
Gulf Arab countries held a summit in Riyadh on Monday to establish a closer union
Kuwait Twitter trial set to start on May 21
Kuwaiti man charged with defaming Prophet Mohammed, rulers on social media site
UAE close to finalising new bankruptcy law
Justice Minister says draft of legislation should be ready by the end of this year
Bahrain regulator orders cuts to telecom charges
TRA issues order setting new charges in bid to improve competition, lower prices
Iran sanctions have modest impact on Dubai
Dubai Economic Council chief says global ban has so far had limited impact on trade
Saudi eyes $107bn investment on electricity
Top oil exporter says it has revised up its estimates for power projects spend
Abu Dhabi’s Man City wins Premier League title
Last-ditch comeback against QPR secures first league title for more than 40 years
Dubai Investments posts 6.3% rise in Q1 profit
Conglomerate says it is reviewing opportunities to divest some of its businesses
IMF concerned about Kuwait finances – cenbank
Kuwait’s recent wage hikes raise concerns about sustainability of its public finances
Brent slips towards US$111 on euro zone worries
Brent crude fell 46 cents to US$111.80 a barrel by 0300 GMT after settling at US$112.26 on Friday
Abu Dhabi’s ADIB sees profit growth ‘subdued’
Abu Dhabi Islamic Bank posts $83.7m net profit for the first three months of the year
REVEALED: The best performing hotel investments
Ernst & Young study counts down the region’s best performing cities in terms of hotel investments
Dubai at start of new boom, says official
Dubai SME chief sees ‘new frenzy’ of shop openings, mall expansions in emirate
Saudi Arabia’s inflation rate slows in April
Gulf kingdom’s rate edges down to 5.3% as cost of food and beverages declines
REVEALED: The best Arab cities for hotel investment
UK builder sees improvement in Dubai market
Balfour Beatty says liquidity improvement in Dubai bodes well for the future
Pirates hijack oil tanker off Oman coast
Owners lose contact with Greek-owned tanker carrying 135,000 MT of oil on Thursday
Prime Dubai office rents remain stable in Q1
Knight Frank says supply of commercial property continues to exceed demand in city
Qatar’s SWF takes stake in Royal Dutch Shell
Shell confirms investment; welcomes Qatar Investment Authority as major shareholder
Barclays eyes 25% MidEast revenue growth
Britain’s second largest bank also plans to hire about 100 people in the region
Abu Dhabi’s ADNH sees Q1 net profits fall
Abu Dhabi National Hotels posts $17.9m net profit, down from $22.6m in Q1 2011