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US Firm Plans 500 Hires In Abu Dhabi

Digital Domain Media Group is opening up an animation and visual effects studio in Abu Dhabi’s twofour54.

Facebook Listing Falls Flat

The social networking site’s IPO fizzled out on day one, dampening high expectations and expert predictions.

Facebook To Increase IPO Size

The social networking site reportedly plans to float an additional 85 million shares in its IPO.

Oil Prices To Stay Over $100: Experts

A fall below that level will lead to a cut in Saudi’s oil output and force high-cost oil projects to shut down.

EU Will Exit Crisis: White House

Europe has the “capacity and the will” to overcome its current crisis, says the White House.

Invest AD JV Plan $100m Fund

A joint venture between US-based Paladin Capital Group and Invest AD plans to launch a $100 million MENA fund.

Abu Dhabi Eyes The Big Apple

The emirate is planning a massive advertising campaign in New York’s Times Square to attract more US visitors.

Emirates May Acquire Other Airlines

Emirates Airlines will acquire other carriers at “the right time,” its chairman Sheikh Ahmed Al Maktoum has said.

World Bank Picks New President

The decision to appoint Jim Yong Kim, an American, to the top post has been criticised by developing nations.

Facebook Buys Instagram In $1bn Deal

The social networking site confirmed that the rival photo-sharing app will not be integrated into Facebook.

GCC Produces Record Aluminium Supply

Annual production in the GCC could reach five million tonnes by 2014.

Groupon Sued By Investor

The daily deals website has been facing increasing criticism from customers and investors across the world.

Clinton Expresses “Regret” Over UAE’s Move

The UAE has shut down the Dubai office of the National Democratic Institute, a US-funded pro-democracy group.

Global Shoppers Spend $497m During DSF

Interestingly, visitors from Russia were the biggest spenders in the UAE during the Dubai Shopping Festival, according to Visa.

World Oil Import Bill May Hit $2trn

The International Energy Agency has warned that if crude oil prices don’t fall, oil import bills may soar to record levels this year.

Bahrain’s Arcapita Files For Bankruptcy

The investment house filed for US bankruptcy protection after it failed to reach a $1.1 billion debt deal with creditors.

Saudi Oil Exports Rose In January

The Kingdom’s oil exports rose 143,000 barrels per day in January compared to December, according to the Joint Data Initiative.

Investcorp Buys US Properties

The Bahraini investment company has acquired a portfolio of properties in the San Francisco Bay Area for $65 million.

Dubai Mulls Essex House Hotel Sale

Government-owned Dubai Group is currently reviewing the potential sale of the Manhattan-based property.

US Targets Dubai Bank Over Iran

Noor Islamic Bank has reportedly been forced to cut off its banking business with Iran by the US Treasury.

Buffett Chooses Successor

The billionaire revealed that an unnamed individual had been selected to replace him as the CEO of Berkshire Hathaway.

US Eyes UAE For Military Aircraft Sale

The UAE has reportedly expressed interest in buying the V-22 Osprey, a tilt-rotor aircraft from the US.

Brent Falls On Greece Woes

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

US Firm Wins $8.2bn Qatar Contract

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

RIM CEOs Step Down

Jim Balsillie and Mike Lazaridis are replaced as Google and Apple take BlackBerry market share.

Facebook Extends Sharing Service

The social networking site will now let users know what their friends are doing on other sites.

McDonald’s Extends IOC Deal

The fast food giant will continue sponsoring the Olympic Games for another eight years.

Gulf Banks Shut Out US Clients

Obama’s intrusive regulations are simply too much trouble.