Saudi’s ACWA, Mitsui Win $630m Oman Power Plant Deal

The contract was won along with Dhofar International Development and Investment Holding Co.

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UAE’s Ras Al-Khaimah May Print 10-Year Sukuk As Early As Tuesday

Ras Al-Khaimah is planning a benchmark size offer, traditionally understood to mean upwards of $500 million.

Emirates Airline Sets Guidance For $913m UK-Guaranteed Sukuk

The initial guidance for the senior unsecured ten-year sukuk issue is at around 100 basis points over midswaps, a document showed.

Oil Prices Drop After Saudi Arabia Says It Will Not Cut Output Alone

Saudi Oil Minister Ali al-Naimi asserted on Sunday that the Kingdom will not curb output to prop up prices.

Dubai-Based Souq.com Plans 3-Day Mega Sale, Expects 7m Visitors

The sale, set to run from March 29-31, will have 2,500 product deals on offer.

Abu Dhabi Airport Passenger Traffic Up 21.5% In February

The airport saw nearly 1.7 million visitors in the month of February, authorities said.

Dubai’s Arabtec Seeks To Sell Four Saudi Units, Eyes Kingdom Expansion

Arabtec’s board has approved disposing of Arabtec Saudi Arabia, Arabtec Construction Machinery, Saudi Austrian Arabian Ready Mix Co and EFECO Saudi.

Saudi Arabia Invites Iraq’s Abadi To Visit In Big Sign Of Thaw

Iraqi PM Haidar al-Abadi’s office gave no details about the invitation or when the possible visit would take place.

Dubai’s DP World Signs Deal To Develop Ports, Logistics Industry In Maldives

The Dubai-based ports operator said it will help Maldives develop infrastructure, logistics and transport links.

Omantel Gets Shareholder Assent For $130m Sukuk Issue

Omantel did not give any timing for the issue in the bourse filing.

Saudi Oil Minister Denies “Conspiracy Theory” Behind OPEC Decision

Ali al-Naimi also said that OPEC will not take sole responsibility for propping up the oil price.

UAE’s Ajman Bank Agrees $155m Syndicated Islamic Loan

The deal consisted of a hybrid murabaha and wakala structure with a two-year lifespan.

Dubai Holding Unit’s 2014 Profit Rises 42%, Still Eyes Telco Sales

The company made a net profit in 2014 of Dhs4.68 billion last year, up from Dhs3.30 billion in 2013.

Nakheel Launches Tender For New Mall At Jumeirah Village Triangle

The tender covers infrastructure services relocation, shoring works and excavation at Al Khail Avenue.

Dubai Investments Forms JV To Develop Projects In Saudi

The joint venture firm’s first project in Saudi Arabia will be an 11 million square metres project called Riyadh Investment Park.

US Embassy In Saudi Reopens After Week-Long Closure

Consular operations in Saudi Arabia were first suspended last week over heightened security concerns.

Saudi Arabia Stops Business Visas To Swedes In Diplomatic Row

Saudi Arabia recalled its ambassador to Stockholm earlier this month, after Sweden ended a long-standing defense cooperation agreement with the Kingdom.

Saudi Arabia’s OPEC Governor: Hard To Reach $100-120 Oil Again

Mohammed al-Madi said that the current price drop was because of fundamental supply and demand factors, not any non-economic policies.

Bahrain-Based Terra Sola To Build $3.5bn Solar Plant In Egypt

The project is expected to provide 2,000 megawatts of solar energy to Egypt.

Stock News: Gulf Markets Mixed; Arabtec Dampens Dubai

Arabtec posted an unexpected Q4 loss of $25.7 million, blaming non-recurring general and administrative expenses.

Qatar Finance Minister: Prioritising Health, Education, Transport, World Cup Projects

Qatari plans to spend about $200 billion on transport, electricity generation, water supply, housing and other projects between 2013 and 2018.

UAE Wins Hosting Rights For FIFA Club World Cup In 2017, 2018

The tournament is held in mid-December every year and was earlier hosted by the UAE in 2009 and 2010.

Dubai’s Arabtec Swings To Q4 Loss, Blames High Expenses

Non-recurring general and administrative expenses jumped 75 per cent to Dhs749.9 million last year.

US, UAE Move Forward On Space Cooperation

The two countries will focus on issues such as space policy and regulatory developments, space security and space science cooperation.

Saudi Looking Beyond Oil Price Slump As Rig Count Spikes

The Kingdom has been ramping up the number of machines drilling for oil and gas.

Football FIFA 2022 World Cup Final To Be Played On Dec. 18

The winter tournament is expected to last 28 days, instead of the 32 for last year’s finals in Brazil.

Sri Lanka Says Rajapaksa Officials Stashed Over $2bn In Dubai

The funds represented about of fifth of the total amount of so-called ‘black money’ that the authorities suspect was illicitly stashed abroad.

The War For Talent: The Ugly Side Of UAE’s Healthcare Boom

With a number of hospitals and clinics starting up in the GCC, the war for medical talent has begun.

UAE’s Etihad Gets Rare Full Plane Financing For A380 Superjumbo

The financing from a group of Korean institutional investors is structured as a 15-year, fixed coupon full-payout lease.

Thales Eyes Local Mega Rail Deals In Gulf

The firm is bidding for the second phase of Etihad Rail project, a senior official said.