A multi-billion dollar industrial, tourism and urban scheme, anchored by a world-class port and dry dock complex, the Duqm Development has been conceived as a dynamo of economic growth to fuel...

Marking 30 years of successful growth, BankMuscat, the flagship financial institution in the Sultanate, yesterday unveiled its new “Vision and Management Team”, reflecting the strategy for the coming period and bringing on board several competent staff who have recorded exemplary career achievements and leadership skills. The new ‘Vision and Organisation Structure’ heralding a new era were announced at the Bank’s 2012 Leadership Summit Conference. The dynamic vision adopted by BankMuscat reflects the readiness to face future challenges. The vision statement is:

“We can do more”
Leadership means challenging everything we do, continuously. To listen, to improve and...

National Bank of Kuwait (NBK), the largest Kuwaiti bank and the highest-rated in the Middle East, reported net profits of $1,086 million (KD 302.4 million) in 2011 compared with $1,083 million (KD 301.7) in 2010.

NBK Group’s total assets stood at $48.9 billion (KD 13.6 billion), up 5.6% compared to 2010, while total shareholders’ equity rose by 4.5% Y-o-Y to $7.8 billion (KD 2.2 billion). NBK Group’s net operating income grew by 8.4% Y-o-Y reaching $1,939 million (KD 540 million).

Despite the ongoing turmoil in regional markets and the stagnant operating environment in Kuwait, NBK continued to maintain exceptionally strong asset quality indicators with NPLs/Gross loans ratio dropping...

The recently launched aggressive marketing strategy of King Fahd International Airport (KFIA) is attracting more international and regional airlines to use its facilities.
The airport has improved its facilities in the terminal building as well as in the airfield and apron areas, officials have said.

The first new airline to operate from KFIA in 2012 is the Ethiopian Airlines (ET), which is inaugurating its flight on Feb. 3.

“We are delighted to operate from KFIA three times a week, from Dammam to Addis Ababa using B737-700/800 aircraft,” said Redi Yesuf, Regional Director of ET, after meeting officials of KFIA. Yesuf was given a tour and viewing of the airport facilities.
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QInvest, Qatar’s leading Investment bank, has acquired 30.5% of Al Nakheel Agriculture and Trading Company W.L.L. and AG Middle East LLC (together the “Group"). Based in Doha, Qatar, the companies specialize in providing landscaping and related maintenance services to governmental, corporate and industrial customers.

This acquisition is the fourth private equity transaction completed by QInvest in the MENA region and is consistent with its strategy to partner with established"...

For the first time in its history, DP World’s Dubai Cruise Terminal has welcomed four mega cruise ships at the same time, underlining its ability to cater to the rapid growth of cruise tourism in the city.

The four vessels, which can carry more than 9,000 passengers, called at Port Rashid over a 24-hour period and were berthed simultaneously.

Cruise"...