Main headlines

May 8, 2013

Nasair has recorded a 20 per cent increase in passenger numbers since the beginning of the year
05:30 GMT

Nasair, a low-cost carrier based in Saudi Arabia, is set to go public as the airline prepares for an initial public offering (IPO), a top official said.

Transgulf Investment makes OMR 2.334 profit in Q3
04:30 GMT

Omani investors lifted trading on the Muscat Securities Market as they net bought 7.7 per cent of the total value and the general index closed flat at 6,191.47.

May 7, 2013

A vessel transporting Iranian oil
14:08 GMT

A€“ Croatian oil and gas company, INA, has withdrawn from a project for developing an oil block in Iran.

Central Bank of Bahrain
13:41 GMT

The Central Bank of Bahrain (CBB) announced yesterday (Monday: 6 May 2013) that this week’s BD35 million issue of Government Treasury Bills has been oversubscribed by 297%.

One of Emarat's stations in UAE
13:34 GMT

Abu Dhabi: Emarat will not expand its fuel retailing business in Dubai in the foreseeable future as the company feels its existing filling stations in the emirate are more than adequate to meet customer needs.

A photo of an old train in Egypt
11:03 GMT

The Egyptian Railways is one of the most popular modes of public transportation in Egypt with around 800 million passenger miles annually. Most of this network connects the Nile Delta with Cairo and Alexandria.

The tourist expenditure in the retail sector remained the highest with a $1.4 billion
10:41 GMT

Visitors to the UAE spent around $4.7 billion via their Visa cards last year, a 17.1 per cent increase compared to the previous year.

Qatar Airways' inaugural passenger flight to Chicago is welcomed by a traditional water salute at Chicago O'Hare Airport on April 10, 2013 in Chicago, Illinois.
06:13 GMT

Qatar Airways is preparing to open business in Saudi Arabia as one of two operators that won in December licenses to serve the Kingdom’s domestic market.

Not content with a Ferrari FF or Lamborghini Aventador, Dubai Police now use a rare Aston Martin One-77.
05:30 GMT

Not content with a Ferrari FF or Lamborghini Aventador, Dubai Police now use a rare Aston Martin One-77.

May 6, 2013

Bahrain Electricity and Water Authority during a press conference announcing the launch of the project
13:45 GMT

Bahrain Electricity and Water Authority (EWA) has announced the launch of the largest utility-based IT project in the Kingdom’s history aimed at Accelerating its move towards smart grid and smarter energy and water services.

Dubai World Central
13:00 GMT

Investments in the Dubai World Central projects reached Dh22 billion to date, according to Khalifa Al Zaffin, executive chairman of the Dubai Aviation City Corporation, who did not provide a breakdown of the spending.

An illustration of the 747-8 Freighter from Boeing
12:36 GMT

Etihad Airways has signed a multi-year Aircraft, Crew, Maintenance and Insurance (ACMI) agreement with Atlas Air Worldwide to provide the UAE flag carrier with its first Boeing 747-8 Freighter.

Emile Habib of Gulf Related with Yasir Abu Sulayman of NCB and senior executives.
11:55 GMT

Gulf Capital announced yesterday that it had signed a SR 450 million ground-breaking financing facility deal with National Commercial Bank (NCB). The ten-year facility will help finance Gulf Related’s first real estate development in the Kingdom.

Sheikh Mohammed Al Maktoum looks on during Super Saturday at Meydan Racecourse on March 9, 2013 in Dubai, United Arab Emirates.
11:19 GMT

Dubai government reaffirmed its commitment to deal with the repayment obligations and said the emirate redeemed Dh3.3 billion bonds due last month on maturity date, according to a statement issued on Sunday by the Dubai media office.

A branch of Emirates Islamic Bank
10:52 GMT

The bank recorded strong growth in net profit and net income compared to its first quarter in 2012