Drake & Scull’s Q3 Profit Misses Forecasts

The Dubai company reported a net profit of Dhs23.8 million for Q3, compared with a profit of Dhs3.9 million in the corresponding quarter in 2012.

UAE Begins Trial Of Egyptians, Emiratis Over Brotherhood Ties

Twenty Egyptians and 10 Emiratis are charged with setting up an illegal branch of the Muslim Brotherhood in the UAE.

UK Businessman Accused Of Corrupt Bahrain Payments

Victor Dahdaleh is accused of making corrupt payments of over $63 million to the former chairman of Alba.

New Qatar Spending Rules To Avoid State Debt Overload

Qatar’s planned spending over the next decade could destabilise the economy by inflating real estate prices and saddling companies with excessive debt.

Revealed: Top 5 Companies In Saudi Arabia 2013

The biggest businesses in the Kingdom, valued by market capital.

Canada Backs Dubai’s Expo 2020 Bid

Canada is the latest addition to Dubai’s growing list of supporters for its Expo bid.

Qatar Airways Launching Hangzhou Flights

Airline prepares to launch its seventh Chinese destination in 10 years.

Emirates Starts Sialkot Services

Dubai carrier is eyeing a wide range of export opportunities.

Oman Property Developer Sells Country’s First Sukuk

Oman began to introduce Islamic finance last year, becoming the last of the six Gulf Cooperation Council states to do so.

Etisalat Buys 53% Stake In Maroc Tel For $5.67bn

Etisalat will pay Vivendi 3.9 billion euros for the stake, plus a further 300 million euros in 2012 dividends from Maroc Telecom

Saudi Business Activity Growth Weakens In October

The rate of output growth for non-oil producing private sector companies, at 58.2, was the second-slowest in the survey’s 51-month history.

Mövenpick Hotel Jumeirah Lakes Towers Opens

Swiss operator’s sixth Dubai property is an “unpretentious” addition to the New Dubai scene.

Abu Dhabi Property Prices Rise 5% In Q3

Abu Dhabi’s property prices have risen throughout the year as rents have stabilised due to continued demand.

UAE Oct Business Activity Growth Slows From 29-Mth High

UAE firms saw output growth fall to 56.4 points in October from 57.9 in September, which was the strongest level in the survey’s history.

Fairmont The Palm Opens Art Suite

Rotated on a quarterly basis, the suite will be home to works selected by Showcase Gallery.

Dubai Motor Show Begins – New Supercars Unveiled

More than 600 vehicles will be on show with an expected attendance of over 100,000 visitors.

Dubai Financial Market Swings To Q3 Profit

DFM made a net profit of Dhs82.8 million in the three months to September 30, compared with a net loss of Dhs1.7 million in the same period in 2012.

Foreign Workers Stay Home To Escape Saudi Visa Crackdown

The Saudi government has promised raids on businesses, markets and residential areas to catch expatriates whose visas are invalid.

Dubai’s Online Real Estate Portal To Increase Transparency

The new portal will provide information on real estate and support stakeholders across the industry.

UAE Ranks 8th In The World For Buying Global Property

A new report shows investors from the Emirates favour London, Paris and Geneva for overseas property.

UAE Banks To Get 5 Years To Obey Exposure Rules

The UAE central bank plans to restrict the amount of exposure banks can have to the debt of government-related entities.

Kerry Hails Disgruntled Saudi Arabia As Important U.S. Ally

Saudi Arabia is angry over what it sees as a weak foreign policy on the part of the Obama administration.

Bahrain Jails Four For Life For Iran-Linked Cell

Six others were sentenced to 15 years in jail on charges of setting up a militant cell linked to Iran’s Revolutionary Guard.

UAE’s Smartphone Usage Drives Mobile Retail Growth

With the number of UAE smartphone users on the rise, opportunities for mobile retail is growing.

Etihad Towers Abu Dhabi Launches Concierge App

The app, developed by Evolvin Networks, is believed to be a first for Abu Dhabi.

Damac Announces $500m London Share Listing

Citigroup and Deutsche Bank are joint bookrunners for the offering.

Dana Gas Third-Quarter Net Profit Dips

Gross revenues for the third quarter were Dhs623 million, up 21 per cent from Dhs512 million a year ago.

Dubai’s Arabtec Forms New South Korean Joint Venture

The partnership will pursue and perform large scale infrastructure projects like metro, railway, bridge, port and tunnel projects.

Vettel Wins Abu Dhabi Grand Prix

The Red Bull driver dominated from start to finish at the Yas Marina circuit, securing his 11th win of the season.

Bahrain Charges Top Opposition Leader

Sheikh Ali Salman was released on Sunday after five hours of interrogation about an opposition display.