Emirates Airline Reports 2% Net Profit Rise

The Emirates Group announced figures of Dhs2.2 billion net profit for the first six months of its fiscal year.

UAE Markets Vulnerable After Dive By Dubai

Abu Dhabi’s stocks dropped by 0.9 per cent on Monday but Dubai fell 2.8 per cent.

Renault Middle East Reports 34% Sales Rise

The French manufacturer saw a 38 per cent sales rise in Abu Dhabi and a 33 per cent increase in Dubai.

EmiratesLNG To Build Fujairah Import Terminal

The terminal will be able to supply the UAE with around 1.2 billion cubic feet (bcf) per day of gas.

Air Arabia Q3 Net Profit Drops 9%

The carrier made a net profit of Dhs206 million in the third quarter, compared with Dhs226 million in the corresponding period in 2012.

UAE Nuclear Staff Will Be 80% Emirati – ENEC Boss

Vast majority of staff at Abu Dhabi’s Barakah facility set to be nationals.

Etihad In Potential Airbus Jet Order

The carrier is also finalising a deal with Boeing, with one or both deals set to be announced at next week’s Dubai Airshow.

Dubai Islamic Bank Posts 33.5% Profit Increase

The bank made Dhs1.2 billion in the nine months to September 30 up from Dhs899 million in the corresponding period last year.

Fairmont The Palm Penthouses Target Second Homers

Repeat holidaymakers and executives can now buy a slice of Penthouse luxury living.

UAE’s Ajman Bank Rehires Amiri As CEO

Amiri, who quit just seven months ago, replaces Mohammad Zaqout who was fired in October.

UAE’s Electricity Demand To Exceed 40,000MW By 2020

Gulf countries are seeing a steep energy demand owing to a growing population and subsidised resources.

Prince Alwaleed Makes $600m From Twitter IPO

Kingdom Holding bought a three per cent stake in the micro-blogging site in 2011 for $300 million.

ADNOC, Masdar JV Launch First Carbon Capture Project

The project will allow the UAE to preserve its natural gas for domestic electricity generation.

UAE To Send $10m To Typhoon-Hit Philippines

Typhoon Haiyan has left an estimated 10,000 people dead and four million affected after it hit land on Friday.

Oman’s First MERS-Coronavirus Sufferer Dies In Hospital

Qatar, Saudi Arabia and the United Arab Emirates last week reported four other people who had been admitted to hospital with the disease.

Kuwait To Review $16bn Annual Subsidies

Kuwaiti ministers have warned that state expenditures will exceed oil revenues within a few years if spending keeps rising at the current rate.

Bahrain Jails Four For Car Bomb Outside Mosque

Several vehicles were destroyed but no one was hurt in the explosion outside a Sunni Muslim mosque in al-Riffa.

Exclusive Interview: Jon Williams, MD, Al-Futtaim Motors

Al-Futtaim Motors has been the regional partner of Toyota vehicles for almost 60 years with the Toyota Camry almost exclusively used by Dubai’s taxi fleets.

UK Eyes Further Kuwaiti Investments

London Mayor Boris Johnson hopes to attract greater Kuwaiti investments to the UK.

Oman Oil Minister Slams Gulf Culture Of Energy Subsidies

Mohammed bin Hamad Al Rumhy said a signal needs to be sent to ‘the pockets of the public’.

Veteran Gulf Banker Plans Investment Bank In Dubai

Emad Mansour was recently the chief executive of Doha-based Qatar First Bank.

TAQA In $240m Deal To Sell Dutch Pipeline Stake

The sale of the stake in Noordgastransport B.V. (NGT) to pension fund PensionDanmark A/S is expected to close in 2013.

Wizz Air Offers Dubai Passengers Priority Boarding

The service costs an additional €10 per flight on services to Kiev, Sofia, Budapest and Bucharest.

Two Dead, 68 Injured In Saudi Clashes

Security forces in riot gear fired into the air and used truncheons to disperse large crowds in the Manfuhah neighbourhood of southern Riyadh.

Fifa Rules Out Co-Hosting 2022 World Cup

Sepp Blatter also ruled out holding the Qatar tournament in January-February out of respect for the Winter Olympics.

Kuwait Expects OPEC To Keep Crude Output Target Unchanged

Kuwait is currently producing 2.9 million barrels per day of oil and had the capacity to produce 3.2 million bpd.

Etisalat In $400m Loan Tussle With Stan Chart, Citigroup

Standard Chartered has around $300 million exposure on the loan, while Citi has the rest.

Saudis Unconvinced By Kerry’s Show Of U.S. Goodwill

Saudi leaders fear President Barack Obama’s administration has stopped listening to its Arab ally.

Dubai Receives 7.9 Million Visitors In 9 Months

Saudi Arabia continued to be Dubai’s primary source market, recording a 31.6 per cent rise in visitor numbers.

Ivory Coast Nears Completion Of LNG Deal With Qatar

Ivory Coast announced plans in March to build a regasification and storage unit.