Abu Dhabi Commercial Bank Picks Banks For Bond Issue

The UAE-based lender plans to launch a conventional bond in the coming few days, say sources.

UAE’s ADNOC Supplying Fuel To Emarat Stations

The handover will save Emarat around Dhs80 million every month.

Qtel CEO Addresses Telecoms Gender Divide

Dr Nasser Marafih uses the World Economic Forum in Davos to highlight the issue.

Dubai Ranks Third Largest Passenger Airport

Airport beats forecasts by one million and has London’s Heathrow “firmly within its sights”.

Saudi Maaden To Shut Fertilizer Plant For Maintenance

The mining firm plans to close a diammonium phosphate fertilizer plant for three weeks.

UAE, Turkey Trade Up 197% In H1 2012

Trade exchanges between the two countries reached $5.3 billion during the first half of the year.

Abu Dhabi Property Merger Seen Completed June 30

Property firms Aldar and Sorouh agreed on an all-share merger last week creating a company with $13 billion in assets.

Kuwait MPs Target Financial Help For Citizens

The proposal would be the first time Kuwait has given out financial aid.

Oman Telco Nawras Extends Profit Slump For Q4

The firm reported a Q4 net profit of 10.3 million rials, down from 11.9 million in 2011.

Qatar’s CBQ Posts 19% Q4 Profit Jump, Missing Estimates

The bank earned 447 million riyals in Q4. Analysts had forecast profit of 452.4 million riyals.

UAE To Highlight Expo 2020 Bid At WEF In Davos

The Higher Committee will use the World Economic Forum to promote Dubai’s bid.

Dubai May Ease Restriction For Foreign Investors

International investors may be allowed to start businesses in the UAE in partnership with nationals from the wider GCC region.

UAE’s ENOC Replaces Sanctioned Iran Oil With Qatari Supplies

Emirates National Oil Co (ENOC) was the biggest buyer of Iranian condensate in 2012.

Kuwaiti Consortium Signs Contract For Oil Exploration In Iraq

Under the contract, the Kuwait Energy- led consortium will begin exploration in Basra’s block 9.

New UAE Mortgage Law Expected In Second Half Of 2013

The UAE central bank is still holding negotiations with the Emirates Banks Association and no rule has been issued as yet.

Dubai Developer Nakheel Year Profit Up 57%

Nakheel made a Dhs2.02 billion ($550 million) profit last year, on revenue up 91 per cent to 7.8 billion.

Qatar Islamic Bank Appoints New CEO

Bassel Gamal will be responsible for “all the companies and institutions affiliated to QIB inside Qatar and abroad.”

Davos: Kuwait Wealth Fund Warns Of Currency War

Speaking at the World Economic Forum, Badr al-Saad fears the decline of the yen.

Kuwaiti Parliament Backs Airline Privatisation Law

Parliament first backed privatising loss-making Kuwait Airways Corp (KAC) in 2008.

Dubai Prices Two-Part $1.25bn Bond Offering

The two-tranche bond includes a $500 million 30-year conventional bond and a $750 million 10-year Islamic bond.

Kuwait To Partially Shut Mina Abdullah Refinery In Q2

The refinery, which produces 270,000 barrels per day, will be closed for maintenance from April to May.

BlackBerry 10 Buzz Builds As Launch Date Nears

The much-awaited new smartphone line-up from RIM will be launched in Dubai and five other cities on January 30.

Investcorp Buys Majority Stake In US Security Firm

The Bahraini investment firm has acquired a stake in US-based FishNet Security for an undisclosed sum.

Saudi Can Maintain Current Spending, Says Finance Minister

The Kingdom has budgeted expenditure of SAR820 billion for 2013, 19 per cent higher than the amount budgeted for 2012.

Qatar’s Hamad International Airport Opening April 1

Initially 12 airlines will fly to the new airport and Qatar Airways will move its entire operations in the second half of the year.

Greek PM To Visit Qatar To Discuss Investment

The trip follows the withdrawal of Qatar last week from a multi-billion euro tender to develop Athens’ old airport.

Bahrain’s Batelco Profit Slumps 24% In Q4 2012

The operator’s profit was hit by domestic competition and one-off charges from a cost-cutting programme.

Dubai Serviced Flats Seeing Good Growth – HSBC

The sector is receiving interest from investors because of double-digit growth.

Dubai Successfully Taps Debt Market With $1.25bn Sale

The emirate issued a $750 million 10-year sukuk, as well as a $500 million 30-year conventional bond.

Dubai’s DIFC Sees 16% Rise In Employees

Around 14,000 people are now employed in the Dubai International Financial Centre.