#World

New iPad Out In UAE

Apple’s third generation iPad is finally available in select locations across the UAE.

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.

Arab Spring Hits Investor Confidence

The regional unrest will continue to dampen investor confidence in the Middle East this year, according to a survey by the CFA Institute.

Tunisia Eyes Islamic Finance

The Tunisian government has set up a working group with Islamic finance experts to study its development in the country.

Dubai CFOs On Hiring Spree

The majority of financial executives in Dubai are planning to increase staff this year, according to a survey.

Investcorp Buys US Properties

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

SAP To Invest $450mn In MENA

The global software firm is planning to hire 500 new employees and open more offices in the region.

Qapco, Taiwan’s CTCI Sign Deal

Qatar Petrochemical Company has awarded construction contracts worth QR604 million to expand its ethylene plant.

Dubai Mulls Essex House Hotel Sale

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

GCC Oil And Gas Reserves Worth $65trn

The region’s hydrocarbon reserves account for almost a third of the world’s reserves, says QNB Capital.

StanChart Seeks Saudi Licence

The bank has reportedly applied for a full commercial banking licence to expand its operations in the kingdom.

KIA Gets China Stock Market Quota

Kuwait’s sovereign wealth fund has obtained approval to initially invest up to $300 million in China’s securities market.

OPEC Pumps Record Volumes

Despite demand worries, OPEC oil production reportedly reached 30.97 million bpd in February, the highest since November 2008.

17 GCC Billionaires Make Forbes List

The region’s representatives on Forbes’ annual list of the World’s Billionaires have a combined net worth of $65.4 billion.

NMC Plans London IPO

Healthcare provider NMC hopes to raise $250 million through the listing, and plans to use the funds for further expansion.

Al Baker Backs Boeing, Airbus

The outspoken head of Qatar Airways has expressed support for the planemakers as they struggle to resolve production flaws.

Hilton Eyeing MENA Growth

The hotel group has 15,000 rooms under development in the MENA region and is planning further expansion.

ENBD Issues First CNY Bond

The 750 million renminbi bond, which matures in 2015, was 5.7 times oversubscribed, the bank said.

ME Sukuk Volumes To Reach $14bn

The issuance of Islamic bonds in the region could reach over $14 billion this year because of increasing investor demand, according to HSBC.

Drake & Scull Wins India Contract

The utilities unit of Drake & Scull International has won the Dhs100 million contract to set up a water system for a thermal power station in India.

Bahrain Eyes Gas Imports From Russia

The Gulf state is initially planning to import the equivalent of around 3 million tonnes a year of LNG from Russia’s Gazprom.

ME Unrest To Affect Global Asset Prices

Regional unrest might affect China’s oil input, which in turn will have a drastic impact on global asset prices, said hedge funds guru Marc Faber.

Korea Gets UAE Oilfields Stake

A Korean consortium has signed a deal with ADNOC to acquire a 40 per cent stake in three oilfield projects in the UAE.

Saudi Raises Crude Prices For Asia

Saudi Arabia has increased the price of its Arab Light crude oil for customers in Asia by $1.25 a barrel for April.

RBS Ends Tie-Up With Rasmala

Royal Bank of Scotland said it no longer requires equity research on Middle Eastern companies from Dubai’s Rasmala Investment Bank.

IPIC Signs $850mn Loan

Abu Dhabi’s International Petroleum Investment Company is refinancing the $850 million, three-year loan it signed in February 2009.

UAE’s Non-Oil Trade Rises

The country’s non-oil trade reached Dhs759.8 billion during the first ten months of 2011.

ME Airlines See Rise In Traffic

Airlines in the region posted a 14.5 per cent year-on-year increase in January this year, according to the IATA.

Standard Chartered Sees UAE Growth

While the bank’s income from the country rose seven per cent last year, expenses also increased by six per cent.

Noor Islamic Has Ended Ties With Iran

Dubai-based Noor Islamic Bank clarified that it has ended all business relations with Iranian banks.