Main headlines

February 27, 2014

On Monday, both Arabtec and Kharafi declined to comment.
15:45 GMT

On Wednesday, Arabtec said: “The company denies that it will acquire Kharafi National.”

“Net income turned into a JD39.9 million loss on December 31, 2013,” the company’s disclosure showed.
15:39 GMT

“At the forefront of the set criteria that determine route profitability are the traffic, the operating expenses and the required fleet operated on these routes,” it added.

The 88.5 meter-long superyacht Nirvana will be at this year's show (Courtesy of Superyacht News)
14:00 GMT

The Dubai International Boat Show is set to launch this weekend with over 750 companies registered to participate.

There are 1,600 companies in the freezone (Courtesy of Arabian Business)
13:00 GMT

Dubai Airport's Freezone Authority saw a 42 percent increase in its revenues last year.

Egypt's public business sector will now be handled by the ministry of foreign trade and industry rather than the investment ministry (File Archive/AFP)
10:00 GMT

With the recent resignation of Egypt's government, Cairo's current reshuffling may affect investment practices and business in new ways.

The UAE Energy Minister, Suhail bin Mohammed Faraj Faris Al Mazrouei, and Japan’s Minister of Economy, Trade and Industry, Toshimitsu Motegi, signed a MoU on the peaceful use of nuclear energy in the UAE
08:45 GMT

General Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Japan’s Prime Minister, Shinzo Abe, on Wednesday witnessed the signing ceremony of a number of agreements and Memoranda of Understanding (MoUs).

“We are trying to learn from some of the things in the past and trying to get it right this time around,” he added.
03:55 GMT

“We have engineered a new strategy to stabilise the company and restore our customers’ confidence in BlackBerry,” said John Chen, executive chairman and CEO at BlackBerry.

The companies participating at the show stand to gain a unique vantage point to reach out to vibrant markets across the GCC region, including the Middle East, North Africa and South and East Asia region.
00:24 GMT

The show has attracted more international and local exhibitors’ participation than ever before with over 170 companies showcasing latest innovations and development in the aviation sector.

Al-Waleed has been featured in Bloomberg’s Billionaires Index with a personal fortune of $30.5 billion as of Feb. 25, 2014.
00:16 GMT

In 2013, Alwaleed announced that he was severing ties with the Forbes Billionaires list.

February 26, 2014

Bahrain is hoping to model its hi tech farming on Singapore's urban farming program (Courtesy of CNN)
16:00 GMT

Bahrain is planning to model Singapore's hi-tech farming system that reduces reliance on imported food with very few land and water resources.

More than 6.4 million passengers passed through Dubai International Airport in January 2014 alone (Shutterstock)
13:34 GMT

Dubai International Airport reported a monthly record of 6.4 million passengers in January.

Lexus sales have increased in the MENA region due to the company's emphasis on design excellence, say top Lexus representatives (Courtesy of Motor Authority)
13:00 GMT

Lexus announced this week that sales in the Middle East increased nearly 20 percent in 2013.

Fuel and related energy sources have forced Gaza to increasingly rely on solar power as their main energy source (File Archive/Shutterstock)
11:52 GMT

Palestinians in the Gaza Strip are now turning to solar power as they grapple with energy shortages.

Most of the firms are going for small- and medium-size office spaces
08:38 GMT

Downtown Beirut’s office space ranked the 24th most expensive in the world in 2013, according to a report from consultant firm Cushman and Wakefield.

The target for that particular region (Middle East & Asia Pacific) numbers well into the 25 plus units across the range
08:28 GMT

Executive business jet buyers in the Middle East will continue to hold significant purchasing power in 2014 as traditional markets in Europe and North America look to bounce back.