Main headlines

June 30, 2013

Media and Publishing was significant performing sectors, advancing 0.66 percent to close the day at 2,829.56.
06:00 GMT

The Saudi stock market was in the red yesterday, dropping slightly by 0.17 percent.

June 27, 2013

Lebanese-Canadian Bank
11:21 GMT

The Lebanese-Canadian Bank has reached a $102 million settlement with the U.S. government over allegations it took part in a scheme to launder drug money and other funds for terrorists.

Etisalat
11:19 GMT

Thirteen companies including Abu Dhabi-based Etisalat and Turkey's Turkcell have expressed interest in buying Dubai Holding's 35 percent stake in Tunisie Telecom, a government official said on Wednesday.

Bank Sohar
11:18 GMT

Fitch Ratings has affirmed Oman-based Bank Sohar's Long-term Issuer Default Rating (IDR) at 'BBB+' with a Stable Outlook.

Zain Building
11:17 GMT

Loss-making telecom operator Zain Saudi has gained more time - until July 31 - to repay a $2.4 billion Islamic loan due on Wednesday, the company said in a bourse statement.

Authority is studying all civil aviation services that are not currently available in Oman
11:16 GMT

The sultanate will have at least one low-cost carrier (LCC) by the first half of 2014 with the possibility of more licences being awarded, according to Salim Nasser Said al Aufi, chief executive officer of the Public Authority for Civil Aviation.

Aerial view of Mohammad Bin Zayed City
11:12 GMT

A Dh75 million Traffic Control System (TCS) has been installed in Mohammad Bin Zayed City in the capital, the Department of Transport (DoT) announced today.

Emaar's Dubai Mall
06:00 GMT

UAE shares failed to hold on despite a strong rebound on Tuesday. The world stocks and bonds gained for the second day on Wednesday, lifted by healthy US data.

Smartphones
06:00 GMT

Oman is the fastest growing market for smartphones in the GCC region with 65 per cent users switching to these devices, according to Ashrf Fawakherji, vice-president, Middle East, for Huawei.

June 26, 2013

The Abu Dhabi Fund for Development has signed a memorandum of understanding with Morocco
13:11 GMT

The Abu Dhabi Fund for Development has signed a memorandum of understanding with Morocco for a $1.25 billion grant to be used for the provision of key services.

An artist's impression of the Dubai Palm Jumeirah managed by Viceroy.
13:10 GMT

China State Construction Engineering Corporation Middle East (CSCECME) on Tuesday announced that it will invest in Skai Holdings’ Dh3.67 billion ($1 billion) Viceroy Dubai Palm Jumeirah project.

The proceeds from the issuance will be used to fund the purchase of Islamic financing
11:07 GMT

Cagamas Berhad, the National Mortgage Corporation, announced the issuance of MYR 500 million three-month Islamic Commercial Papers (ICPs), while the proceeds from the issuance will be used to fund the purchase of Islamic financing from the financial system.

S2 is 54 percent owned by Abu Dhabi National Energy Co (TAQA)
10:59 GMT

Abu Dhabi's Shuweihat 2 (S2) power plant has mandated six banks to help arrange a potential bond issue, lead arrangers said on Tuesday.

Bahrain parliament
10:53 GMT

Bahrain's state spending is expected to jump 11 percent this year, by more than originally planned, after its parliament approved 174.2 million dinars ($462 million) in additional expenditure, official data showed.

Nakheel tower
10:47 GMT

Dubai's state-owned property firm Nakheel, is in talks with banks to refinance loans worth 8 billion dirhams ($2.2 billion) that are due in 2015, the chairman of the company said on Wednesday.