#World

Etihad’s Revenues Soar In Q1 2012

The Abu Dhabi -based carrier recorded a 28 per cent year-on-year rise in revenues during the first quarter of this year.

Royal Jordanian In Merger Talks

The airline is struggling with rising fuel costs and increasing competition in the region.

Korea Eyes More Nuclear Plants In UAE

Korea Electric Power Corp, which is already building four nuclear power plants in the UAE, will begin talks to construct four more in the country.

Saudi Rejects Expat Tax Proposal

A majority of the Shoura Council members agreed that imposing an income tax on expatriate workers would be “untenable.”

$20m Boost For ME SMEs

RED, Abraaj’s small and mid-cap investment platform, has invested $20 million in the region so far this year.

NMC Raises $187m From IPO

The UAE-based healthcare provider listed its shares on the London Stock Exchange.

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.

HSBC Buys Lloyds Assets In UAE

The acquisition includes the retail, commercial and corporate banking businesses of Lloyds in the country.

OPEC Output Rises In March

The oil supply from the OPEC nations in March this year increased to its highest level since October 2008.

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.

Ex-Mumtalakat Head Joins PineBridge

Talal Al Zain, who recently resigned from Bahrain’s sovereign wealth fund, has been appointed as the CEO of PineBridge’s MENA operations.

RBS Shares Rise After Abu Dhabi Takeover Talks

Britain is reportedly holding talks with Abu Dhabi to sell a part of its stake in Royal Bank of Scotland.

UK No.1 Internet-Based Economy

The internet contributes more to the UK economy than any G20 country.

Mubadala Buys $2bn Stake In Brazil’s EBX

The move marks the first significant direct investment by the Abu Dhabi fund in Brazil and Latin America, it said.

ME Holds $500m In Start-Up Funds

Regional investors are ready to provide up to half a billion dollars to promote new businesses in the Middle East, say industry experts.

Arab Spring Surge in EU Asylum Seekers

More than two million people left their MENA homes due to the 2011 unrest.

First Gulf Lends $350mn to AKT

The UAE lender’s loan will help Indonesian coal producer AKT to meet its working capital needs.

UAE Hotels See 80% Occupancy

The occupancy rate for hotels in February reduced by 2.4 per cent year-on year, according to STR Global.

Twitter Boasts 140 Million Users

The micro-blogging site, which is celebrating its sixth birthday, is now seeking to find the right revenue model.

Accor To Hire 4,000 Staff In ME

The hotel group targets to have 100 hotels either operating or under construction in the region by 2015.

ME IT Spend To Grow 6-8% In 2012

EXCLUSIVE: Regional IT spend will grow at double the global rate, according to EMC global CFO.

Kingfisher To Stop International Flights

India-based Kingfisher Airlines, which operates daily flights to Dubai, said that it was cancelling all its international routes.

China, GCC To Boost Trade

High-level ministers from the GCC countries and China have held meetings and decided to increase economic and trade relations between their regions.

Etisalat, Emirates, STC Top ME Brands

Apple tops the global top brands list, which also includes the three entries from the GCC.

NBAD Launches $750mn Bond

The five-year dollar bond is being issued under the National Bank of Abu Dhabi’s $5 billion programme.

Etisalat Offers 3G In Afghanistan

The UAE based telecoms operator said that it was the first operator to provide 3G services in the country.

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.

Infosys Boss: India Growth Will Hit 9%

EXCLUSIVE: India will regain momentum in spite of challenges, said K. V. Kamath, chairman of Infosys and ICICI Bank.

Investcorp Acquires UK Education Group

The Bahraini investment group has taken over the GL Education Group, a UK-based education solutions provider.