Emaar Foundation, Awqaf Launch Dhs25m Residential Project

Rental returns from the eight-storey tower in Al Warqa will be allocated to the Al Noor centre in Dubai.

Oil Falls To $55 As Kuwait Comments Refocus On Oversupply

Kuwait’s oil minister said on Thursday that OPEC had no choice but to keep output steady.

Etihad, Universal Unveil Fast & Furious Branded Boeing 777 Airplane

The luxury aircraft will be used to promote the upcoming action flick, ahead of its launch in April.

Twitter To Open Dubai Office

The website has a constantly growing user base with 76 per cent of social media users in the Middle East and North Africa region using it regularly.

Qatar’s Ooredoo Expects Revenue To Fall In 2015

Factors largely beyond its control have dulled Ooredoo’s lustre, and its profits for the past two quarters have missed analysts’ forecasts by a wide margin.

OPEC Has No Choice But To Keep Output Unchanged- Kuwait Minister

Ali al-Omair said the OPEC has to keep output unchanged to sustain marketshare.

Dubai’s Emaar Denies Rumours That Chairman Intends To Leave

Alabbar is managing the company’s business on a daily basis and is fully committed to it, Emaar said in a statement.

Majority Of UAE Filipinos Prefer Property Investment In Metro Manila – Survey

An increasing number of Filipinos in the UAE are opting to buy property in their home country.

Qatar’s CBQ Shareholders Approve Up To $1bn In Capital Instruments

The annual general meeting of the lender gave approval for the move in accordance with Basel capital requirements.

Dubai’s DP World Posts 11.8% Rise In 2014 Net Profit

The firm made a profit attributable to shareholders of $675 million compared with $604 million in the prior year.

Oman’s Bank Muscat Shareholders Approve $1.3bn Sukuk Programme

The plan comprises issuance in domestic and international markets through public subscription or private placement, a bourse statement said.

UAE Recalls Envoy To Sweden Over Minister’s Comments On Saudi

The country also summoned Sweden’s ambassador to the UAE to deliver a formal protest against remarks made by the Swedish foreign minister.

Saudi Food Firm Savola Cuts First-Quarter Profit Forecast

Savola reduced its projection to SAR178 million before capital gain from its previous forecast of SAR360 million.

Kuwait Drops Court Case Over “Plot” Tape

Government investigators determined that the recordings were not authentic and had been edited.

Kuwait Detains Political Activist Over Tweets Against Saudi Arabia

Tariq al-Mutairi, head of the liberal Civil Democratic Movement was detained on his way home early on Wednesday.

Dubai World Unit, Port And Free Zone World, Completes $1.1bn Loan

The funds will be used to help the company meet commitments at the group and subsidiary levels.

US Embassy In Saudi Continues To Remain Closed Over Security Fears

Currently no visa or consular services are being provided in Riyadh, Jeddah or Dhahran.

Qatar Undertaking Projects Worth $8.48bn To Boost Tourism – Report

Over $2.5 billion worth of contracts were awarded in Qatar’s hotel and tourism sector last year.

Saudi Crude Exports Up In January To 7.47m Bpd

Production was steady in January at 9.680 million bpd from 9.630 million bpd in December.

Stock News: Gulf Markets Drop As U.S. Oil Hits 6-Year Low

Dubai’s index fell 3.6 per cent by Wednesday’s close to a 10-week low of 3,408 points.

Etihad Rail To Begin Commercial Operations In 2015

The first phase of the network that is currently under testing is scheduled to begin operations soon, an official said.

Qatar Central Bank Governor Says Won’t Review Currency Peg

He declined to elaborate on the reasons for Qatar sticking to its peg.

Abu Dhabi’s Mubadala Petroleum To Explore Big Morocco Offshore Area

The company has an exclusive licence to carry out a geological survey of the Mediterranee Ouestarea, which comprises 3,433 sqkm.

Dubai Developer Arady To Handover Units At DIFC Tower From March-End

The Central Park Residential Tower in DIFC consists of 426 apartments.

Three Iraqis Dead In Explosion Near Kuwaiti Border

Police sources in Iraq said the victims were civilians who died in an explosion from a truck trailer.

Dubai’s DGCX In Talks With Local Bank For Spot Gold Contract

The exchange, which currently trades gold futures, said last year that the spot contract was expected to be for 1 kilogramme (32 troy ounces) of 0.995 purity gold.

Emirates President Rebuts Resignation Claims

Speaking in Washington, he said discussions with US authorities had been “very constructive”.

Etihad Received Loans And Equity Investment From Shareholder – CEO

Hogan said few young companies have operated as transparently as Etihad, which is little more than a decade old.

Bahrain’s BBK Launches $400m 5-yr Dollar Bond

The transaction will have a spread of 200 basis points over midswaps, a document showed.

Emirates Airline Says Will Rebuff U.S. Allegations, Seeks Apology

Emirates airline’s Tim Clark said that some figures in the report are factually wrong and that the airline will set the record straight.