Kuwait’s KIPCO Reports 11% Q2 Net Profit Rise

Net profit in the three months to June 30 was 9.5 million dinars compared with 8.6 million dinars in the same period last year.

Saudi Offers Russia Deal To Scale Back Assad Support

Sources say Saudi Arabia wants Moscow to ease its strong support of Assad and agree not to block any future Security Council Resolution on Syria.

Eid Declared On Thursday, August 8

Private sector employees will be off on Thursday, August 8 and Friday, August 9.

Bahrain In Talks Over Possible Eurofighter Deal-BAE

The Eurofighter combat jet is made by BAE Systems and Italian weapons maker Finmeccanica and EADS

UAE Residents Spend Dhs10,000 Annually On Gadgets

A recent study found 68 per cent of UAE residents spend at least Dhs10,000 every year on technology, with 71 per cent admitting they are addicted.

Dubai’s Ruler Signs Dhs2.1bn Emirati Housing Grant

Sheikh Mohammed approved the scheme which will help 5,000 families before the end of the year.

Etihad To Operate A380 On Sydney, Melbourne Routes

The Abu Dhabi airline is also increasing flights to Australian destinations.

Costa Coffee To Introduce Camel Milk Drinks

The global coffee chain has introduced camel milk as an option for customers, as well as a new camel milk iced drink.

Bahrain’s Seafront Property Records Strong Sales

More than half of the plots on Dilmunia Island were sold out on the day they were launched, says developer.

Saudi Activist Freed After Two Years In Detention

Mohammed al-Bajadi, a founding member of the banned Saudi Civil and Political Rights Association, was sentenced to four years in prison last year.

Etihad Eyes China And America Partnerships

Etihad, whose annual net profit tripled in 2012, holds stakes in Virgin Australia, Air Berlin, Aer Lingus and Air Seychelles.

Aldar’s Q2 Profit Jumps On Sorouh Merger Deal

Aldar said quarterly earnings included a one-time gain of Dhs2.6 billion principally driven by the acquisition of Sorouh’s assets.

Saudi’s Prince Salman Named Deputy Defence Minister

Prince Salman bin Sultan is a son of the late Crown Prince Sultan, a veteran defence minister until his death in 2011.

Caution Required Amid Dubai Property Resurgence

Close monitoring is essential to prevent a second Dubai property bubble, writes Mohammed Faheem, senior research analyst at CBRE Middle East.

Standard Chartered Income Up 4% In H1 2013

Standard Chartered UAE recorded single digit growth in income during the first half of 2013.

Saudi Arabia Says Barred Sudanese President’s Plane For Lack Of Permit

Omar Hassan al-Bashir’s plane was barred from entering the Kingdom’s airspace this week while on a flight to Iran.

Business Confidence Riding High In Dubai

The majority of businessmen in Dubai expect a profitable third quarter this year, find two official surveys.

DAFZA Sees 44% Growth In H1 2013

Dubai Airport Freezone Authority saw 94 new international companies register in the first half of the year.

Siemens Wins $966.8m Contract From Saudi Aramco

The company will supply gas and steam turbines and other equipment for the upcoming Jazan power plant.

Job Creation Up In Saudi’s Non-Oil Private Sector

Despite a rise in raw material prices, the Kingdom’s non-oil sector has seen slight growth.

Al Noor Hospitals H1 Profit Drops 24.4%

The Abu Dhabi healthcare company listed on the London Stock Exchange in June.

Dubai’s Shuaa Capital Swings To Small Profit In Q2

The bank made a net profit of Dhs1.3 million in the quarter, compared with a loss of Dhs15.9 million for the same period last year.

Air Arabia Q2 Net Profit Rises 15%

The low-cost airline served over three million passengers during the first half of 2013

Google Offers Virtual Tour Of Emirates A380

Google has given access to all three classes and even the pilot’s cockpit of the world’s biggest jet through its Street View cameras.

Emirates Launches Luxury Private Jet Service

Emirates Executive launches at a time when business aviation is seeing a rise in regional demand.

Top 10 Eid Getaways Within The UAE

Gulf Business checks out weekend options for those looking for a quick escape.

Commercial Bank Of Qatar Appoints New CEO

The lender has named Abdulla Saleh al-Raisi as its chief executive officer.

Dubai Hotel Occupancy Falls As Peak Season Winds Down

As the peak season for hospitality winds down, average occupancy across UAE and Saudi hotels witness a slight decline.

Dubai Contractor Drake Q2 Profit Rises 63.1%

Drake reported a net profit of Dhs52.2 million for the quarter ended June 30, compared with a profit of Dhs32 million in the corresponding quarter in 2012.

Dubai Establishes Design and Fashion Council

The council will create a strategy to develop Dubai’s fashion industry and support existing events in the sector.