Iran bank governor quits
Economic shake-up continues as central bank governor Ebrahim Sheibani resigns after weeks of speculation.

Korek shows interest in Iraqna
Kurdish operator is in talks to buy Iraqi assets of Egypt's Orascom, plans $1bn expansion across country.

Qatar drops Oman oil price link
Oman will no longer be used as a reference after switch to the Dubai Mercantile Exchange.

Yemen to join GCC by 2015
Country is gearing up to restructure economy as it prepares for WTO, GCC membership, minister says.

Does Dubai need 100% foreign ownership for companies?
Each week Arabian Business invites you to have your say on a popular issue.

Strong response for Galfar IPO
Oman's biggest construction firm says share offer has generated an 'overwhelming response' from investors.

Al-Rajhi issues $595mn sukuk
Cement company is to sell Islamic bonds to finance regional investments including new plants.

Arabtec: Yet to win racecourse deal
UAE developer denies report it and Malaysia's WCT are to build horse-racing course in Dubai.

50 die in Yemen storms
Floods and thunderstorms have destroyed homes and farms across the country since the beginning of August.

Omantel rules out Kuwait licence bid
Omani telco says it has no plans to compete for a stake in the third mobile operator being set up in Kuwait.

Aconex wins Dubai metro deal
Australian firm to supply online information management service to the Purple Line section of Dubai's under development metro.

Nokia recall costs Matsushita up to $172m
Japanese firm agrees to cover the replacement costs of Nokia's 46 million battery recall.

Emirates ups Shanghai flights
The airline is to increase flights between Dubai and Shanghai with a second daily service planned for 2008.

Week in Pictures