Kuwait Issues Smoking Ban

Smoking cigarettes and shisha in most public places will now be punishable by law.

Kuwait’s Central Bank Governor Resigns

Sheikh Salem Abdul-Aziz al-Sabah blamed a rise in public spending for his decision.

Mashreq Loans $80mn To Gulf Air

The struggling Bahraini carrier will use the amount to meet its medium-term capital needs.

Saudi Blogger Deported From Malaysia

The columnist fled Saudi Arabia after his comments on Twitter caused an outrage in the kingdom.

SABIC, Sinopec In $5.3bn Contract

The two companies are in negotiations to build a methanol complex in Trinidad and Tobago.

Etihad Reports $14mn Net Profit

This is the first time that the UAE airline, started eight years ago, has recorded a profit.

Batelco Sells STel Stake

The Bahraini telecoms operator will receive $174.5 million, the same amount that it paid to purchase the stake in the Indian firm.

US Firm Wins $8.2bn Qatar Contract

Colorado-based CH2M Hill has won the FIFA World Cup construction management contract.

Dhs2.1bn Surplus For Dubai Municipality

The civic body said that cost-cutting measures were implemented to achieve a budget surplus in 2011.

Damas Hires Nomura For Deal

Doha-based Mannai is planning to buy 58.8 percent of Damas in a deal estimated to be worth around $445 million.

Dolphin Raises $1bn From Bond Sale

Abu Dhabi’s Dolphin Energy will use the proceeds to meet its refinancing needs.

DGCX Volumes Rising

Dubai Gold and Commodities Exchange saw volumes increasing 95 per cent year-on -year in January.

Saudi Ready To Up S Korea Oil Supply

Saudi Arabia might increase crude oil supplies to South Korea as Seoul looks for alternatives to Iranian oil.

Consumer Confidence Drops

Confidence decreased substantially in Saudi Arabia during the last quarter of 2011, according to Nielson.

Emirates Eyes $517mn Loan

The airline is planning an Islamic loan facility to fund two of its planes, according to reports.

UNB’s Q4 Net Profit Drops

The Abu Dhabi lender’s profits fell 19.2 per cent to Dhs135 million during the fourth quarter of 2011.

The National Investor Sheds Workforce

Abu Dhabi-based investment firm may shed more than half of its staff.

Etisalat May Sell African Towers

The telecoms operator might also share infrastructure facilities with other carriers.

Citi To Increase Dividends

Prince Alwaleed, Citigroup’s biggest individual shareholder, said that he expects the bank to increase dividends this year.

World’s Tallest Tower In Dubai

Tameer Princess Tower is the highest residential building on earth at 414 metres.

UAE, Qatar Stop Trade Finance To Iran

The move follows the stringent financial and trading sanctions imposed by the US and EU on Iran.

UAE To Cap Credit Card Interest Rate

The UAE’s central bank is reportedly planning to limit credit card interest rate at 18 per cent annually.

Qatar’s GDP Grew 19% In 2011

According to the IMF, Qatar’s economy is expected to grow six per cent in 2012.

MAF Launches $400mn Sukuk

The mall operator is undertaking several new projects across the Middle East this year.

Oman Plans 230km Gas Pipeline Project

The pipeline will supply gas to the town of Duqm and is estimated to cost around $200- 220 million to build.

Bahrain’s Gulf Air To Downsize

The airline’s CEO said that it was unlikely that the struggling carrier would be dissolved or sold.

NBK Posts Flat 2011 Profits

The Kuwaiti bank reported a net profit of KD302.4 million in 2011 compared to KD301.7 million in 2010.

Saudi Can Cover Oil Shortages

The kingdom’s oil minister has said that rising domestic demand will not affect crude oil exports.

UAE To See 4% Growth in 2012

According to the country’s Economy Minister, the Arab Spring has spurred growth in the UAE.

QIA To Buy Credit Suisse London HQ

Qatar’s sovereign wealth fund is expected to acquire the property in a “few weeks.”