The state-controlled Abu Dhabi Investment Council owned Al Hilal Bank, having 14 braches, took a major step to increase its presence in the Central Asia. The bank opened its new branch in Kazakhstan becoming the first Islamic bank to have full-fledged branch in the country.

Earlier, the Financial Markets Authority in the Central Asian Republic of Kazakhstan gave its nod to the bank for opening its branch in the resource rich country. The new bank, fully owned by Al Hilal Bank, would have capital of $36 million according to the information provided by the lender.

Qatar Airways is expanding its operations in a big way in South East Asia which shall include upgrading of its aircraft equipments and increasing the frequencies.

Earlier Qatar Airways had announced adding of five new routes during the first half of 2010.

Roads have been cleared for the Bank of Nova Scotia to open its branch in Dubai, for dealing primarily in precious metals. The bank has been recently awarded license by the Dubai Financial Services Authority which has paved a way for the Toronto-based bank to have a branch in Dubai's international financial center.

Dubai-based Emirates Airline plans to roll out flights to cosmopolitan Dutch city Amsterdam from May 1, 2010. The aviation major is likely to announce flights to more destinations in coming months excluding already announced three destinations earlier this year.

Emirates NBD, leading UAE based largest bank by assets, has informed that it envisages to increase its private banking business, primarily in Singapore.

The sources informed that Due to economic uncertainity, private banking worldwide is in flux, with some key global lenders leaving the field as others seek to spread out and balance volatile investment banking revenues with the steadier income flows from services to the super rich

Sama Airlines, leading Saudi-based low-cost carrier intends to acquire 20 airplanes over the coming four fiscals from either Boeing or Airbus.

The sources informed that the privately held firm presently runs a fleet of seven Boeing 737-800 aircraft.

Sama, which operates short-haul flights to 16 destinations within Saudi Arabia as well as Egypt and Jordan, was established in 2005 and started flights in 2007.

Jazeera Airways, Kuwait's lading budget airline, wants to set up a new hub in 2010 with the aim to enhance its market share in the Middle East as well as North Africa region.

Without revealing the exact date and place of new hub, the airline officials stated in a communiqué that the Jazeera Airways will establish two new sectors in the coming month as the carrier will depart to Abu Dhabi and Assiut on October 1 and 26 respectively.

At present, Jazeera Airways runs a fleet of 10 Airbus A320s to 24 destinations in 13 countries.