#World

Abu Dhabi To Exit Daimler

Abu Dhabi’s investment fund Aabar is reportedly looking to exit its its stake in the German carmaker.

Qatar Lends Tunisia $500m

The five-year loan will boost Tunisian government finances, according to its central bank.

Revealed: The World’s Top Ten Retail Nations

The UAE is the world’s second most popular country for global retailers, according to property adviser CBRE.

UAE Urges Iran To End Island Standoff

The UAE Foreign Minister has said that the dispute with Iran concerning Abu Mousa could spiral into an international issue.

Nokia Has 46% ME Handset Share

Nokia leads handset sales, but Apple secures top spot for mobile advertising impressions.

Mubadala To Manufacture Parts For Boeing

This is the first time Boeing has signed a direct outsourcing deal for parts production in the Arab region.

World Bank Picks New President

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

QNB Buys Stake In Libyan Bank

Qatar National Bank has acquired a 49 per cent stake in Libya’s Bank of Commerce and Development for an undisclosed sum.

Saudi Denies Reports of Sweden Arms Plant

The Kingdom stressed that it has not signed any deal with Sweden to help build a weapons factory in Saudi.

GCC States Plan Meet Over Disputed Island

The meeting in Riyadh will discuss the dispute between the UAE and Iran over Abu Musa island, sources said.

Oil Market Fundamentals Easing: IEA

Increasing output from OPEC and slow global demand are easing fundamentals, said the International Energy Agency.

Bahrain Grand Prix Doubts Persist

Despite officials confirming that the race is Bahrain is still on, many teams expect it to be called off amid security concerns, say reports.

QIA Plans $10bn Indian Investment

Qatar Investment Authority said it is looking to invest $10 billion in India, but is waiting for policies to change in the country.

Sheikha Lubna Eyes China Investment

The two countries are set to strengthen bilateral trade ties, according to the UAE Minister of Foreign Trade.

Drake & Scull Won Dhs1.3bn Deals In Q1

The UAE-based construction company will eye major contracts in Qatar this year.

Facebook Buys Instagram In $1bn Deal

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

Qatar’s Xstrata Stake Worth $2.65bn

Qatar Investment Authority (QIA) currently holds a five per cent stake in global mining and metals company Xstrata.

GCC Produces Record Aluminium Supply

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

Arab Billionaires Worth $121.3bn

Saudi Prince Alwaleed topped the list of regional billionaires released by Forbes with a fortune of $18 billion.

TAQA Sells Tesla Motors Stake

Abu Dhabi National Energy Company (TAQA) booked a profit of $113 million on the sale.

Formula One’s FIA Monitoring Bahrain

The International Automobile Federation (FIA) said that it was keeping a close watch on the escalating violence in Bahrain ahead of the grand prix on April 22.

SABIC Plans $100m Centre In China

The Saudi-based chemical producer is planning to build a technology research and development in Shanghai.

UAE Oil Output Hit 2.7m bpd In March

The UAE oil production was reportedly at full capacity because of the rising demand.

Bahrain Tops Region In Global IT Index

The UAE and Qatar also ranked high for their IT technologies on the global index compiled by the World Economic Forum and INSEAD.

New System To Protect Indian Contract Workers

The new process, jointly introduced by the UAE and India, aims to improve transparency in the recruitment of workers.

Saudi Trims May Oil Prices For Asia

The Kingdom also slashed its crude prices for Europe, as oil demand weakens.

Groupon Sued By Investor

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

Drydocks Gets Approval From 98% Of Creditors

Only one creditor has not yet accepted the $2.2 billion debt restructuring plan proposed by the Dubai-based shipbuilding unit.

BAE Signs Saudi-Eurofighter Deal

The British defence contractor said that it had signed a contract to build 48 Typhoon aircraft for the Saudi Arabian air force.

ME Airlines See 23% Rise In Passengers

The strong performance of regional airlines in February this year, suggests that the region has now “fully recovered,” said IATA.