Saudi Aramco's crude oil output in 2011 rose to 9.1 million barrels per day from 7.9 million a year earlier. This was revealed in the oil giant's 2011 Annual Review, titled Aiming Higher. It was released yesterday. Writing in the review, Ali Al-Naimi,

Dubai SME, the agency of the Department of Economic Development (DED) mandated to develop the small and medium enterprise (SME) sector, recently organised two seminars to help entrepreneurs learn about the best means of securing funds to support business

Passenger traffic at Dubai International, the world’s fourth busiest hub for international passengers and freight, crossed the 4.5 million mark for the fourth consecutive month, according to the April traffic report issued by Dubai Airports today.

AL MASAH Capital Limited announced Sunday the joining of Al Hail Holding and Global Development Group (GDG) to its current shareholders of the company. Al Masah Capital is a MENA focused alternative investments asset manager with special focus on social

Majority of residents in Saudi Arabia believe that their financial situation is either the same or better now as it was 12 months ago, though they believe that the Kingdom’s economy has remained the same, the latest Consumer Confidence Index conducted by

The GCC construction industry will witness a pick-up in project activity toward the second half of the year until 2013 with contract awards to reach a high of $150 billion, experts said at the recently concluded Arabian World Construction Summit 2012.

The insurance industry in the Gulf region is not likely to see major consolidation over the coming two years due to “comfortable” capitalisation of domestic insurers and “little” shareholder pressure. But foreign risk cover providers may enhance their

Infrastructure upgrade is likely to get a sizeable outlay in Qatar’s budget for 2012-13, which is expected to be announced in the next few days. Indications are that the next budget, the largest ever, will take $65 per barrel as the base oil price as

HSBC has launched “Mena bonds and sukuks platform” offering relatively easy access for the bank’s retail customers in Qatar. The offer provides a “comprehensive” wealth management proposition to HSBC customers and allows them to achieve a more balanced

Saudi Arabia is a huge market with vast potential open to investors, according to Siddeek Ahmed, chairman and managing director of Eram Group that has 30 companies in 10 countries. “The Kingdom is the largest economy in the Middle East, having liquid

TransOman Conference 2012, the premier Transport, Shipping and Logistics event, was inaugurated today, 28th May 2012, by HE Dr. Ahmed Bin Mohammed Bin Salem Al Futaisi, Minister of Transport and Communications at the Grand Hyatt. "TransOman brings

Bahrain-based Manara Developments is committed to work in close partnership with the public sector to continuously seek and develop affordable housing solutions in the Kingdom, its managing director said. Dr Hasan Al Bastaki expressed his gratitude to

Flydubai has signed with Pembroke, a wholly owned subsidiary of Standard Chartered, an eight-year sale and leaseback agreement representing financing of $172 million for two Boeing 737-800NG aircraft. The agreement follows the request for proposal (RFP)