Saudi PetroRabigh Starts Maintenance Work On VDU Unit

The firm said the effect of the work on its financials was unclear and would be announced at a later date.

Iran Summons Saudi Diplomat Over Plane Interception In Yemen

ISNA said two Iranian cargo planes carrying food and medicine to Yemen had been forced by Saudi jets to leave Yemeni airspace.

ISIL Behind Riyadh Police Deaths Say Saudi Authorities

Mohammed Abdulrahman Abu Niyan, 23, has confessed to carrying out the shootings on behalf of ISIL.

As Yemen Bombing Slows, Saudi May Struggle With Peacemaker Role

Riyadh now faces a test of its diplomatic skills in trying to arrange talks among Yemen’s fractious elites.

Dubai’s DP World Eyes Dollar Bond – Sources

The Dubai-based firm could raise between $750 million and $1 billion from the bond.

Kuwait Deports Political Activist To Saudi Arabia

Saad al-Ajmi, spokesman for the Popular Action Movement (PAM) was reportedly deported.

Dubai ‘Can Take A Canopy’ Says Hilton Brands Chief

Hilton’s new neighbourhood brand targets districts with strong local flavour

Cheap Oil Slows Saudi, UAE Projects But Qatar, Kuwait Rise -ADCB

The total value of projects awarded in the GCC climbed to above $40 billion in Q1 2015.

Saudi Cable Co Signs $171m Debt Restructuring

The company is also holding talks with another bank about the possibility of restructuring a further SAR99.6 million of debt.

Saudi’s Mobily Says Board Recommends Not Paying Q1 Dividend

Mobily, which is under investigation by the bourse regulator, reported a first-quarter loss of SAR199 million ($53 million).

Qatar Faces High Risk Of Cyber Attacks During FIFA 2022 World Cup

Large scale events such as the upcoming football tournament are more vulnerable to cyber attacks, says expert.

Abu Dhabi’s Masdar City Launches Solar-Powered Eco-Villas

The four-bedroom villa concept includes an array of solar panels that will generate approximately 40,000 KWh per year.

First Gulf Bank Quarterly Profit Falls Short Of Estimates

The third-largest lender by assets in the UAE, made a net profit of Dhs1.42 billion for Q1 2015.

Commercial Bank of Qatar Net Profit Falls 15.3%, Misses Forecasts

The bank earned a net attributable profit of SAR452.3 million ($127.1 million) for the three months to March 31.

Dubai’s Emirates NBD Forecasts 5% Loan Growth For 2015

ENBD’s loan growth climbed by four per cent in the first quarter of the year.

Bloom Launches Dubai Marina Residential Tower

Construction work on the project is set to begin in the first half of this year.

InterContinental Signs Deal For UAE’s First Hotel Indigo

The 285-room property will be located in Dubai’s Business Bay.

SKAI Rebrands Jumeirah Village Circle Property To Viceroy

The newly branded hotel is scheduled for operation in 2018.

Bahrain’s Ahli United Bank Tightens Guidance For $300m Tier 1 Bond

The perpetual, non-call five deal at present has commitments from lead arrangers worth $600 million, documents showed.

Chevron Saudi Unit Plans To Shut Joint Kuwait Oilfield In May

Chevron’s decision was mainly down to problems getting work permits from the Kuwaiti authorities for its expatriate staff, sources told Reuters

Dubai Parks And Resorts Partners With UK’s Merlin Entertainment For Lego Water Park

The water park is an addition to the under construction Legoland Dubai theme park, set to open in October 2016.

Dubai’s Emirates NBD Q1 Profit Rises 60%, Beats Estimates

The lender, 55.6 per cent owned by state fund Investment Corp of Dubai, made a net profit of Dhs1.67 billion in Q1.

Dubai’s Damac Q1 Profit Falls 38%, Reveals Dividend Plans

The developer made a net profit of Dhs792.9 million in the three months to March 31.

Bloom Holdings Launches Park View Project In Abu Dhabi

The project will have a residential building consisting of 234 units and a 188-key hotel.

HSBC Barred From Taking New Funds In Saudi Arabia

HSBC Saudi Arabia needs to revamp its compliance procedures before CMA can reverse the ban, sources reportedly said.

Visiting Venezuelan Delegation To Meet Saudi Deputy Oil Minister -Source

The delegation will meet Prince Abdulaziz because Saudi oil minister Ali al-Naimi is out of the country on a business trip, a source said.

Abu Dhabi To Invest Over $25bn In Offshore Oilfields -ADNOC Official

The plan is part of the UAE’s strategy of increasing its crude oil output potential to 3.5 million barrels per day by 2017-18.

Bahrain’s Ahli United Bank Sets IPTs For Benchmark Dollar Tier 1 Bond -Leads

The lender set price guidance for the bond, which will boost its Tier 1 (core) capital, in the low 7 per cent area.

Saudi Aramco Board Visits South Korean Shipbuilder -Sources

Saudi Arabia has been supplying more crude to Asian markets and Saudi Aramco’s shipping arm has tendered to build 5 very large crude carriers (VLCCs).

Kuwait’s Gulf Bank Q1 Net Profit Rises 12%, Misses Estimates

The bank said in a bourse filing that net profit for the three months to the end of March was $32.4 million.