Dubai's multi-billion dollar building projects are back, five years on from the property bust that left countless building unfinished. CNBC's Hadley Gamble reports.» Read More
DUBAI, April 20- Saudi Basic Industries Corp reported a dip in its quarterly earnings on Sunday as its chief executive said a shortage of natural gas was limiting its domestic growth, making expansion abroad vital.
*Stance does not mean deal is off- UAE- based source. ROME, April 17- Etihad Airways has toughened its stance on conditions for investing in Italy's struggling Alitalia in continuing negotiations between the airlines, sources close to the matter said on Thursday.
DUBAI, United Arab Emirates— Abu Dhabi's Mubadala state investment company says profits last year tripled to roughly $395 million on the back of a strong performance from international investments. Mubadala's mandate is to diversify Abu Dhabi's oil-rich economy.
DUBAI, April 17- Amina al-Rustamani, a member of a prominent UAE family, raised eyebrows among friends and relatives when she started her career in Dubai 13 years ago as an electrical engineer, becoming one of few females in the Middle East to enter the profession.
*CEO says Israel is holding Palestinian economy hostage. *Israel imposed economic sanctions on Palestinians last week. DUBAI, April 15- The boss of a telecoms company accused Israel of using sanctions to hold the Palestinian economy hostage after the Jewish state stopped his firm from importing equipment to launch services in Gaza.
ABU DHABI, United Arab Emirates— King Juan Carlos of Spain began a visit to the Persian Gulf region on Monday by telling United Arab Emirates officials that deepening ties with their oil-rich country was a top priority, highlighting the role wealthy Arab states could play in shoring up the battered Spanish economy.
Dubai International, which handled 66.4 million passengers in 2013, making it the world's second busiest airport for international passenger traffic after London's Heathrow, will cut flights by 26 percent for an 80- day period, Dubai's airports authority said on Sunday.
DUBAI, United Arab Emirates— Officials say Dubai airport, the Mideast's busiest, will undergo a major runway overhaul starting next month that will see more than a dozen airlines shift flights to another airport in the city. The work begins May 1 and runs through July 20.
ABU DHABI, United Arab Emirates— The United Arab Emirates finance minister said Sunday that officials are finalizing a new law to boost entrepreneurship with broad incentives, part of a wider push to create jobs for a burgeoning young population.
ABU DHABI, April 13- State-owned Abu Dhabi Ports Co expects a surge in shipping traffic towards the end of this year as work on major infrastructure projects in the United Arab Emirates capital gathers pace, the company's chief executive said.
DUBAI, United Arab Emirates— Dubai could soon have some new roller coasters to go with its man-made islands and the world's tallest skyscraper. Newspapers in the Middle Eastern emirate reported Sunday that local property developer Meraas Holding has reached a deal with Six Flags Entertainment to build a theme park in the city's largely industrial outskirts.
KHOBAR, Saudi Arabia, April 9- Major Saudi Arabian construction firm Abdullah A. M. Al-Khodari Sons expects labour reforms to keep weighing on its bottom line for a few more years, but the situation will start improving in the second half of 2014, its chief executive said.
ALBANY, N.Y., April 8- New York's highest state court has ruled that a lawsuit by the Algosaibi family conglomerate, claiming that a Saudi billionaire who married into the family committed a $150 million fraud, should be heard in Saudi Arabia.
*Defaulters Ecuador, Greece prepare bonds; Pakistan, Zambia raise 10- yr cash. *After Q1 bond issuance tops $100 bln, second wave of riskier emerging credits.
*Dubai needs international financial support for growth plans. Over a dozen top Dubai officials and executives met about 100 representatives of financial powerhouses including Deutsche Bank, Nomura Holdings and Fidelity Investments for the emirate's first big investor roadshow since the crisis.
ABU DHABI, April 7- Etihad Airways is still negotiating commercial terms for a potential investment in Alitalia and is close to extending its partnership with Air Berlin, the chief executive of the Abu Dhabi airline said on Monday.
ABU DHABI, April 7- Etihad Airways' chief executive said on Monday that the airline was close to sealing the next phase of its partnership with Air Berlin and that it was still in due diligence over a possible tie-up with Alitalia.
*Delta's 49 pct in Virgin, Etihad's 29 pct in Air Berlin eyed. *Air Berlin says Etihad does not control it.
LONDON, April 3- Kuwait's billionaire al-Kharafi family is looking to sell Americana, one of the Middle East's largest food companies, and has hired bankers to explore a deal, four sources familiar with the matter told Reuters.
DUBAI, April 3- Investment Corp of Dubai, the emirate's sovereign wealth fund, has bought a stake in global hotel management firm Kerzner International from investors including the family of South African casino tycoon Sol Kerzner. Kerzner International, originally founded by Sol Kerzner, manages the Atlantis and One& Only resort chains.