Petrochemical firms in the Gulf Cooperation Council (GCC) region increased their total production capacity to more than 115.994 million tons in 2011 compared to 102.075 million tons in 2010, an increase of 13.5 percent, a report issued by The Gulf

Emirates Steel has been awarded a Quality System Certificate (QSC) as a Material Organization (MO) from the American Society of Mechanical Engineers (ASME) for the manufacture of concrete reinforcing bar (rebar). The Company is the fourth rebar

Fitch Ratings has rated Islamic Development Bank's (IDB) issuance of $800 million Trust Certificates due June 26, 2017 issued by IDB Trust Service, under its $6.5 billion Trust Certificate Issuance Programme (TCIP) at AAA. The TCIP benefits from a

The Central Bank of Bahrain (CBB) emphasised on its readiness to work and co-operate with banks operating in the Kingdom for the improvement and development of banking and customer services in a fast and secure environment. Speaking at a meeting of

Qatar Airways and the Qatar Olympic Committee announced a strategic partnership with the National Airline named Official Sponsor of the Qatar Olympic Team. Twelve Qatari athletes are set to compete in the London Games this summer, thus making up the

Saudi Arabia's M3 money supply growth eased to a 17-month low of 7.7 per cent year-on-year at the end of May, after an 8 per cent rise in the previous month, central bank data showed on Tuesday. Bank lending to the private sector decelerated slightly to

Given the weak economic fundamentals across the globe and spreading eurozone debt crisis, petrochemical prices are expected to remain under pressure over the next few months, barring a few like methanol and ammonia, Al Rajhi Capital said in its report on

The three months ending March-2012 witnessed an increase in profitability of GCC companies, the Kuwait based analyst firm Global Investment House said in its assessment of the performance of listed companies and Gulf bourses for the first quarter. Total

Bahrain-based Gulf International Bank's (GIB) long-term and short-term foreign currency ratings have been reaffirmed by Capital Intelligence at A and A1 respectively, while the bank's financial strength rating is also maintained at BBB+. All ratings have

Abu Dhabi Investment Authority, or Adia, which is one of the biggest sovereign wealth funds, said its long-term annualised returns lowered in 2011 due to the economic crisis that made financial markets plunge. In US dollar terms, the 20-year annualised

Saudi Arabia is showing no sign of changing its policy of high oil output to support global economic growth, despite a fall in crude prices below $90 a barrel for the first time in 18 months. Gulf and Western government sources in contact with Saudi

Abu Dhabi has okayed the construction of a 1500 megawatt power plant in Mirfa on build own and operate basis, to boost exports of electric power to energy deficit emirates. In its last session the Abu Dhabi Executive Council chaired by General Shaikh

The number of trade licences issued by the Department of Economic Development, or DED, in May 2012 reached 1,542, an increase of 14 per cent over the same period in 2011. The tourism sector accounted for the highest increase in number of licences at 57