Kuwait Renews $1bn Jet Fuel, Gasoil Supply Deals With BP

The contracts that cover 2015 will see Kuwaiti jet fuel flow through the BP system to Dubai and several European Airports, KPC said.

Saudi’s Savola Says Has All Approvals For Packaging Unit Sale

Takween in December agreed to buy the packaging unit of Savola, the region’s largest food firm for SAR910 million.

US And Gulf Airlines Set To Clash At Aviation Summit Over Subsidy Row

Three U.S. airlines have accused their GCC competitors of receiving more than $40 billion in government subsidies, a charge which the latter deny.

UAE Chauffeur Car App Careem Acquires Moroccon Start-Up Taxiii

The new service, called Careem Morocco, will begin services on March 26 in Rabat and Casablanca.

Qatar National Bank Says Signs $3bn Three-Year Loan

The facility will be used to fund general operations of the bank.

Egypt, Arabtec To Sign Agreement On $40bn Housing Project Within 10 Days

The two parties differed over the percentage of completed units that Arabtec should deliver to Egypt in lieu of payment for land used in the project.

Abu Dhabi Carrier Etihad Partners With Facebook

The partnership will enable the airline to tailor its services and marketing to specific travellers.

Bahrain’s BBK Tightens Price Thoughts For 5-Year Benchmark Dollar Bond

BBK has returned to the market in its first debt issue since 2010 to refinance an existing $500 million bond maturing in October.

Passenger Rail Not An Immediate Priority For The UAE – Minister

The country is currently focussing on operating rail services for the cargo sector, a senior official has said.

Dubai Needs Cheaper Telecom Rates To Become Global Financial Hub – Expert

Increased competition in the UAE’s telecoms sector will help make services more affordable for new companies.

Saudi’s PetroRabigh Signs $5.2bn Financing For Expansion Scheme

The total cost of the project, known as Rabigh Phase II, is now estimated at SAR30 billion.

Emirate Of Ras al-Khaimah To Meet Investors From Thurs For Sukuk Issue

Investor meetings will start in Singapore on Thursday, before moving to Kuala Lumpur on Friday, the United Arab Emirates on Sunday and London on Monday.

Investcorp Buys U.S. Residential Properties For About $300mn

The deals, made through its U.S. based property arm, bring the fund’s total purchases of properties in the country in the last 12 months to over $850 million, it said in a statement.

Dubai’s Daman Investments Aims To Launch IPO Within Weeks

The company had announced last November that it planned to list on the Dubai Financial Market during the first quarter of 2015.

Kuwait Considering Imposing Corporate Tax -KUNA

As part of economic reforms, the government is working on changing the tax system to diversify sources of state income and increase its non-oil revenues, the state news agency said.

Kuwait’s Electricity Minister Resigns Following Last Month’s Power Cut

No details were given on the reasons for the resignation, but the government said the emir had expressed understanding for the causes behind his move.

Exclusive: Palm Jebel Ali Will Not Be Cancelled – Nakheel Chairman

The project will be built in the long-term, depending on market conditions, says Ali Rashid Lootah.

Bahrain Seizes Bomb-Making Equipment Aboard Bus From Iraq

Authorities found 140 detonators, 41 electrical circuits, a remote control device and some cellular telephones hidden inside electrical appliances on the bus.

Saudi Arabia’s Index Slumps To Two-Week Low As Oil Extends Drop

Brent crude oil fell to around $54 a barrel on Monday, its lowest for more than a month.

NBAD To Add Export Financing To Its Egypt Operations – CEO

The lender plans to target affluent and high net worth individuals in Egypt.

Video: HTC One M9 To Launch By End-March In UAE, Full-Gold Model To Debut In ME

The flagship phone, featuring a 20MP main camera, will be priced at Dhs2,749.

Bahrain Bank BBK May Price 5-Year Benchmark Dollar Bond Tuesday

BBK has returned to the market in its first debt issue since 2010 to refinance an existing $500 million bond maturing in October.

St Regis To Open First Polo Resort In Dubai

The resort will have 136 rooms, residential villas, a polo academy, a polo club and a riding school.

GE To Invest $100m In Saudi Arabia

The conglomerate plans to boost its existing manufacturing facilities and improve R&D in the kingdom.

Qatar’s Masraf Al Rayan Eyes Potential Debut Sukuk Issue -Sources

The sharia-compliant institution is expected to raise funds before end-April, sources said.

Dubai Investments To Float Group Member In 2016 -CEO

The official did not specify which company will be listed.

Saudi Prince Says Iran Deal Risks Nuclear Proliferation – BBC

Saudi Arabia sees Iran as its main regional rival and fears that an atomic deal would leave the door open to Tehran gaining a nuclear weapon.

Abu Dhabi Police Nabs Armed Abaya Clad Robbery Suspect

The fully veiled suspect allegedly threatened employees of an Abu Dhabi money exchange with a fake plastic gun.

Dubai’s Emaar Says Not Part Of Egypt’s Capital City Project

The company said in a Dubai bourse statement on Monday that it was not involved in developing the planned new capital to the east of Cairo.

Yemen Militia Leader Says Holding Indirect Talks With Saudi Arabia

It is the first known dialogue between the Shi’ite Muslim group and the neighbouring Sunni country since Houthis took over last year.