The chairman of Emirates airline says the Dubai-based carrier is in talks with Boeing and Airbus for additional planes.

Middle East tension is driving demand for military hardware at the Dubai Air Show which opened on Sunday, but recession means fewer orders for civilian jets.

Babylon, Sinbad, the Garden of Eden — war-scarred Iraq touted its attractions for tourists Tuesday, as it sent a delegation to a major industry fair for the first time in a decade.

Dubai's Finance Department says the city-state has repaid a US$1 billion Islamic bond in the latest sign it is chipping away at its formidable debt pile.

Iraq on Tuesday finalized a deal with a British-Chinese consortium to develop its biggest oil field, a deal marking a milestone moment in the OPEC nation's push to lure foreign investors sorely needed to revamp its battered oil sector.

The Baghdad International Fair opened its doors on Sunday for the first time since 2002 as Iraq searches for investors to rebuild its moribund economy after years of violence and sanctions.

Gulf states plan to launch their monetary council, a precursor for a joint central bank, in 2010 but the planned single currency may be delayed, the Saudi central bank chief said on Sunday.

The Dubai government is planning to meet with potential investors in Europe, Asia and the Middle East this week as it tries to dig itself out from under at least US$80 billion in state-linked debt.

In the run-up to a major investment conference in Washington, traders at Iraq's stock exchange pitched their ideas for where foreigners should put their money for the best return — banks and hotels.

Kuwait's development minister says the government will revive the US$14 billion project to build its fourth oil refinery, which was scrapped in March on corruption allegations.