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HAAD Issues Warning On Fake Products

The Health Authority of Abu Dhabi (HAAD) has found that many slimming products contain dangerous drugs.

Saudi To Create $6.9bn Mining City

The integrated mining project is expected to contribute around SAR15 billion to the Kingdom’s GDP per year.

Oman Owes Gulf Air $310mn

The Bahraini carrier said that the sum has been outstanding from the time Oman pulled out of Gulf Air in 2007.

DP World Eyeing $1bn Loan: Sources

The company is reportedly in talks with banks for a loan to repay its $3 billion deal that matures in October.

Abraaj Eyeing Turkey’s Calik

Dubai-based Abraaj Capital is planning to bid for Calik Holding’s media assets, according to sources.

DIFC Looks To Asia For Growth

The financial centre welcomed 56 new companies in 2011 and is eyeing companies from emerging markets.

CME, Oman Fund Raise DME Stake

The cash injection into the Dubai Mercantile Exchange (DME) has diluted the stake of Dubai Holding.

Etisalat May Restructure

The telecoms operator said it is discussing restructuring options as it struggles to stall dropping profits.

QIA Buys Credit Suisse London HQ

Qatar’s sovereign wealth fund acquired the building for an undisclosed sum and has now leased it back to the bank.

ENBD Plans Renminbi Bond Sale

The bank has mandated Emirates NBD Capital, HSBC and Standard Chartered Bank to arrange investor meetings.

MENA, Russia Trade To Grow 14%

The region’s trade with Russia, India and China is set to grow much faster than trade with developed economies.

ME’s Wealthy On The Rise

The region may even top the world in terms of growth of wealthy individuals this year, according to experts.

11.8mn Ride Dubai Metro’s Green Line

The recently inaugurated Green Line saw more than 11.8 million passengers during its first five months.

Dar al-Arkan To Repay $990mn

Saudi Arabia’s biggest property developer, Dar al-Arkan, plans to repay 3.7 billion riyals of debt this year, said CFO .

Gulf Funds Eyeing ONGC Stakes

Sovereign wealth funds from the UAE and Kuwait have reportedly agreed to buy stakes in India’s ONGC.

GCC Population To Hit 49.8mn

Greater demand for expatriate workers boosts GCC population growth.

Al Arab To Adopt New Voice

Prince Alwaleed says his upcoming Arabic news channel will stand out from the competition.

Saudi Arabia’s Lost Cities

The New Economic Cities announced six years ago are yet to begin contributing to Saudi’s economy.

Brent Falls On Greece Woes

Brent crude slips to $118 as a final decision on Greece’s bailout package faces a possible delay.

ENBD Q4 2011 Profit Fall

The bank reported that net profit for the full year increased by six per cent from 2010.

A damp 2011 For GCC IPOs

Issuers and investors remained wary of volatility in the capital markets, according to PwC.

QNB Prices $1bn Bond

The bond was five times oversubscribed and received orders from more than 270 investors globally.

Dubai Will Support State Entities

The Dubai government will continue to help government-related bodies, says Sheikh Ahmed bin Saeed al-Maktoum.

Oman MoH Signs Deals Worth $3.9mn

The agreements were signed between Oman’s health ministry and Oman LNG.

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.

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.