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StanChart Senior CEO Shankar Quits In Latest Management Change

V. Shankar has resigned as CEO of Europe, Middle East, Africa and Americas after 13 years at the bank.

HSBC Bank Oman Completes Sale Of India Assets To Doha Bank

Shareholders of Doha Bank, Qatar’s fifth-largest lender by assets, approved the purchase in December 2014.

Qatari Investors To Pay $5bn For 49% Shandong Dongming Petchem Stake

The cash will be used to finance a number of projects that Shandong is currently working on.

Pakistan Defence Team Heads To Saudi To Discuss Support

Pakistan, an ally of Saudi Arabia, has yet to commit itself publicly to military support to Riyadh’s campaign in Yemen.

Lee Kuan Yew, Founding Father Of Modern Singapore, Dies At 91

Lee, a British-educated lawyer, is credited with building Singapore into one of the world’s wealthiest nations on a per capita basis.

Dubai’s DP World Signs Deal To Develop Ports, Logistics Industry In Maldives

The Dubai-based ports operator said it will help Maldives develop infrastructure, logistics and transport links.

Sri Lanka Says Rajapaksa Officials Stashed Over $2bn In Dubai

The funds represented about of fifth of the total amount of so-called ‘black money’ that the authorities suspect was illicitly stashed abroad.

Majority Of UAE Filipinos Prefer Property Investment In Metro Manila – Survey

An increasing number of Filipinos in the UAE are opting to buy property in their home country.

Hong Kong: Back In Business

Hong Kong will come back stronger from the pro-democracy protests that spooked investors in 2014, experts say.

ISIL Says Australian Teenager Carries Out Suicide Attack In Iraq

The Australian government said it is verifying whether 18-year-old Melbourne teenager Jake Bilardi has been killed.

Two Malaysians Identified In ISIL Beheading Video From Syria

Mohd Faris Anuar and Muhamad Wanndy Muhammad Jedi, aged 20 and 25 respectively, were identified as the men involved in the beheading of a Syrian man.

Abu Dhabi, Japanese Firms In $300m Steel Pipe Venture

The facility, at Abu Dhabi’s Khalifa industrial zone, will produce 240,000 tonnes of sour grade steel pipes.

Saudi Arabia, South Korea Sign MoU On Nuclear Power

The MoU calls for South Korean firms to help build at least two small-to-medium sized nuclear reactors in Saudi.

Emirates To Launch Daily Service To Bali From June

The new non-stop service will begin from June 3, with Bali becoming Emirates’ 148th global destination.

Emirates’ Partner Qantas Reports First-Half Profit As New Strategy Gathers Speed

The airline’s turnaround strategy includes stripping costs, freezing capacity and slashing 5,000 jobs.

Oil Rises To $59 As Saudis Say Demand Growing

Oil fell on Tuesday after a bigger-than-anticipated rise in U.S. crude oil stocks.

Qatar-Japan Consortium To Study Projects In Turkey’s Afsin Elbistan

The grouping will evaluate projects in the Turkish region including the development of lignite power plants.

Malaysia’s MSM Scraps Pact With Dubai’s Al Khaleej To Build Sugar Refinery

Due to the fact that the project is of “national interest”, MSM decided to build it without a partnership, it said.

UAE Looks East, Eyes Larger Trade With China

The UAE looks to grab a larger share of trade with China, outwitting its Gulf peers.

Chinese Firm OPPO Launches ‘World’s Thinnest Smartphone’ In UAE

The OPPO R5, priced at Dhs1,899, measures 4.85mm and comes with a 13MP camera.

Kalyan Jewellers To Invest Dhs400m In GCC This Year, Open 12 New Stores

The Indian jewellery retailer currently operates nine outlets in the UAE and three in Kuwait.

Sony To Cut 1,000 Jobs In Smartphone Business – Nikkei

The cuts are in addition to the 1,000 jobs Sony said it would eliminate in its mobile unit in October, Japan’s Nikkei reported.

Malaysia Airlines Website Targeted By Hacker Group “Cyber Caliphate”

In a statement, MAS said the website was not hacked, but that users were redirected to a hacker website.

Japan Condemns Apparent ISIL Execution, Demands Hostage Release

Japanese Prime Minister Shinzo Abe called the apparent killing of Haruna Yukawa “outrageous and impermissible.”

Obama, World Leaders Head To Saudi Arabia To Offer Condolences

Russia’s PM Dmitry Medvedev, UK’s PM David Cameron and French President Francois Hollande are also visiting Saudi to offer condolences.

Twitter Buys Indian Mobile Marketing Start-Up ZipDial

Bengaluru-based ZipDial gives clients phone numbers for use in marketing campaigns.

Samsung Talks To BlackBerry About $7.5bn Buyout – Source

The Korean firm is looking to gain access to BlackBerry’s valuable patent portfolio.

Saudi Arabia, Tajikistan To Join Beijing-Backed Development Bank

The entry brings the total number of founder nations intending to join the $50-billion bank to 26, officials said.

Emirates To Start A380 Flights To Perth

Emirates set to be first airline to fly the A380 to Perth next summer

Police Storm Sydney Cafe To End Hostage Siege, Three Dead

Authorities have not publicly identified the gunman, but a police source named him as Man Haron Monis, an Iranian refugee.