Several local and international banks come together to provide a loan facility worth USD880 million for Atlantis, The Palm.
Middle East
Qatar Airways and British Airways forge partnership on frequent flyer miles
In an announcement, Qatar Airways CEO formalized an exchange programme between Qatar Airways and British Airways.
Kuwait looks internationally for oil reserve increase
KUFPEC is looking at overseas assets to expand its oil assets and reserves. Kuwait has sought to purchase oil related properties internationally, such as as in Southeast Asia in order to meet output targets.
Abu Dhabi looks for retail kiosks investors
The Municipality of Abu Dhabi launched a new project and sought for investors in its planned installation and operation of street retail kiosks.
IMAX Corp and GFI sets revenue share agreement
Three more IMAX theaters to be built in the Middle East region. In an announcement, IMAX Corporation and Gulf Film formalized an expansion of their partnership through a revenue share agreement.
Latest News
Almarai Co would be issuing the first sukuk bond issue with four banks to be arranging the investor meetings.
The government of Afghanistan would be looking for favorable bidders for the privatization of the New Kabul Bank.
New and old investors provide USD65 million in equity investments to Kaiima Bio-Agritech. Israeli technology company Kaiima Bio-Agritech Ltd is focused on seed and breeding technology.
Al Baraka Turk bared its plans to issue more than USD 200 million in Islamic bonds late this year or early next year.
Palm Hills, the Egyptian developer wracked with intrigue and controversy from the Mubarak regime, had obtained approval from regulators as to its new share issue.
Swiss startup KeyLemon had received USD1.5 million in Series A funding from Debiopharm Investment and Swisscom Ventures.
Istithmar World announced the appointment of Ziad Makkawi as its new CEO. The state owned conglomerate of the United Arab Emirates, Dubai World, announced the completion of a USD 25 billion debt restructuring in 2011.
two sources told Reuters that Emirates would hire former Standard Chartered Plc's executive Manoj Chawla as its Chief Risk Officer.
The Dogan Group made a USD 742 million offer to purchase 53% of Digiturk, a digital pay-TV provider.
