Main headlines

December 24, 2013

Competition has grown steeply in the Saudi telecom sector. (Image credit: Shutterstock)
07:36 GMT

The Saudi telecom sector growth is set to experience a slowdown after three years of impressive organic growth,

Emirates Airline has finalised paperwork on its $23 billion order for 50 Airbus A380s that was announced at the Dubai Airshow last month.
03:55 GMT

The airline previously said it expects to take delivery of half of this order before the first quarter of 2018.

The first hurdle will be launching direct flights that reportedly only see’s 49,000 passengers travel annually between the two countries.
03:55 GMT

Oman is joining other Gulf Cooperation Council (GCC) countries in unrestricted air travel to the United States with the signing of a new US deal.

December 23, 2013

The dissolved People’s Assembly had approved a law that would increase compensations for the families of martyrs from EGP 30,000 to EGP 100,000 before it was disbanded.
19:05 GMT

Around 670 of martyrs’ families and 3,200 of the injured have already received compensations.

Those barred from a GCC country for legal reasons or those who have already been deported would not be considered for the unified visa.
15:38 GMT

GCC countries are planning to launch a European-style Schengen visa by mid-2014 to allow Gulf-based expats and foreign businessmen to move easily across the borders of the six-member bloc.

The sale coincides with Facebook’s inclusion in the Standard & Poor’s 500 Index, an event that triggers demand from index funds and other institutions that need to purchase the stock.
14:43 GMT

Zuckerberg is the 22nd-richest person in the world, according to the Bloomberg Billionaires Index, with a net worth of $26.9bn.

Saudi Arabia's planned spending in 2014 represents a 4.3 percent increase from 2013 (File Archive/Shutterstock)
13:24 GMT

Saudi Arabia has set a record-high government budget of $228 billion (855 billion riyals) for 2014

Abraaj is partnering with American University of Sharjah for the women entrepreneurship initiative (Courtesy of Gulf News)
13:14 GMT

UAE-based Abraaj Group has established a $1.36 million women entrepreneurship fund to support 10 up and coming female leaders annually.

Trade between the UAE and China has seen constant growth in the past years. (Image credit:
09:26 GMT

Chinese companies have expressed their keen interest in setting up their base of operations in Dubai, according to a top official of Jafza.

Affordable housing is a large and untapped segment. (Image credit: Shutterstock)
08:28 GMT

Arabtec Holding, one of the Middle East’s largest construction companies, is heading into the real estate development with the launch of a new property subsidiary.

Qatar is in the midst of an infrastructure boom. (Image credit: Shutterstock)
07:58 GMT

With more than $200 billion worth of major projects due to be awarded in the years to 2030, Qatar remains one of the three top markets for companies doing business in and with the Middle East region.

Bader Alamoudi has been named chief executive of JP Morgan’s Saudi Arabian business, the statement said.
03:55 GMT

The move was part of a wider trend in the kingdom to tap senior executives from leading global financial institutions to run key state entities

"We encourage citizens to take part in this investment and also to await other opportunities in the pipeline," he said.
03:55 GMT

Qatar plans to conduct initial public offers of shares worth 50 billion riyals ($13.7 billion) in its stock market over next 10 years,

December 22, 2013

The offer is likely to attract solid demand, considering the strong performance of the Qatar market.
17:58 GMT

Mesaieed Petrochemical Holding Co, a unit of state-owned energy giant Qatar Petroleum, will launch a 3.2 billion-riyal ($880 million) initial public offering of its shares in the local market next month.

Plaza Premium Lounge Management Limited (PPLML) will oversee the renovation, management and operation of Abu Dhabi's airport lounges (Courtesy of The Moodie Report)
13:05 GMT

Abu Dhabi airport lounges will be under renovation to ensure that passengers have access to everything from showers and WiFi to conference rooms and new VIP facilities.