Emirates President Tim Clark Urges US Govt To Ignore Subsidy Claims

He was responding to allegations made by the three largest U.S. airlines, Delta Air Lines, American Airlines and United Airlines.

UAE’s First Gulf Bank Sees 9-11% Loan Growth In 2015

FGB, the third-largest lender in the UAE by assets, reported a 13 per cent rise in Q4 net profit in January.

Oil Rises To $59 As Saudis Say Demand Growing

Oil fell on Tuesday after a bigger-than-anticipated rise in U.S. crude oil stocks.

Dubai’s DEWA To Open 100 Electric Vehicle Charging Stations In 2015

The authority inaugurated the first station within its main office on Wednesday.

Saudi Mobily Suffers 2014 Loss, Loan Covenant Breach

Mobily’s shares have fallen by 56 per cent since an accounting scandal first broke in November.

Qatar’s Hassad Food Eyes Brazilian Sugar, Poultry Assets

Hassad Food, wholly owned by the Qatar Investment Authority, was set up in 2008 to boost the Gulf country’s food security.

Microsoft Launches Gold Editions Of Lumia 830, 930 In UAE

The 830 will be priced at Dhs1,349, while the 930 will cost Dhs1,799 and both will be available from this week.

Qatar Investment Slowing As Oil Slumps – Investment House CEO

A proposal by Qatar’s Investment House for a QAR750 million IPO of an agricultural firm has been shelved by regulators.

Saudi’s Naimi Says Oil Demand Is Growing As Prices Stabilise

The price of crude rebounded from a near six-year low to around $60 per barrel this month.

Bahrain’s GFH Plans $230m Sukuk Issue In 2015 To Fund Acquisitions

The bank is borrowing from financial markets again as it recovers from a debt restructuring.

Developer Damac Reveals Plans to Create A Rainforest In Dubai

The rainforest, to be created within a dome, will be located in Damac’s Akoya Oxygen project.

Saudi Regulator Suspends Mobily Shares After 2014 Results Revision

Mobily on Wednesday said it had swung to a full-year loss in 2014, according to audited results.

UAE Firm, Armed Forces In $235m Support Contract For Oshkosh Vehicles

EARTH will provide support for 750 mine resistant ambush protected (MRAP) vehicles which Oshkosh Corp sold to the Gulf Arab state in 2013.

Saudi’s Mobily Set To Slash Dividends After Earnings Scandal

Tuesday’s price of SAR35.30 per share means around $13 billion has been wiped off Mobily’s market value since May.

US Firm Raytheon Agrees To Equip UAE Armoured Vehicles With Rockets

The firm did not give a contract value or say when delivery will begin.

Saudi Court Gives Death Penalty To Man Who Renounced His Muslim Faith

The man, in his 20s, reportedly posted an online video ripping up a copy of the Koran and hitting it with a shoe.

Gulf Economies Have Failed To Diversify, Qatar Central Banker Says

GCC economies should rethink their monetary policies and the long-term sustainability of their currency pegs to the U.S. dollar, he said.

FIFA Taskforce Recommends Nov/Dec For Qatar 2022 World Cup

The taskforce suggested that the tournament be moved from June and July to avoid Qatar’s hot summers.

Bahrain Central Bank Chief: Lending To Pick Up After Slump

The plunge in oil prices is not hurting liquidity in the banking system, Rasheed al-Maraj said.

Saudi’s Mobily Says Chairman Quits, Appoints Replacement

Abdulaziz al-Saghyir quit due to health reasons, but will remain on Mobily’s board, the company said.

Ooredoo Kuwait Blames FX Losses, Higher Costs As Q4 Profit Wiped Out

The company’s 2014 annual profit was KD45.7 million, down from KD76.1 million in 2013.

Kuwait’s Burgan Bank Q4 Net Profit Jumps

The lender reported a 424 per cent rise in fourth-quarter net profit.

Airbus To Deliver 30 Commercial Aircraft To UAE Airlines In 2015

The UAE currently comprises around 20 per cent of Airbus’ Middle East market, an official confirmed.

UAE Companies Are Biggest European Football Shirt Sponsors This Season

Firms in UAE and Qatar invested about 160 million euros this season, almost a quarter of the total spend worldwide.

Dubai Aerospace Explores StandardAero Sale – Sources

State-owned DAE purchased aviation services firm StandardAero from the Carlyle Group in 2007.

Bomb Damages Bahrain Mosque As Police Detain “Terrorist Cell”

The explosion appeared to have partially destroyed the roof of the Muqsha village mosque, west of Manama.

Saudi Fransi Capital CEO Resigns – Source

Yasir al-Rumayyan resigned from the bank last week after heading the business since the start of 2011.

Abu Dhabi Ship Building To Deliver 3 UAE Warships By 2016, Eyes New Deals

The company is holding discussions with some of the GCC countries as well as other international ones.

UN Experts Warn Of “Critical Knowledge Gaps” On Saudi MERS Virus

The WHO says 1,026 confirmed cases – including at least 376 deaths – have been reported since MERS emerged in 2012.

UAE Still In Talks With BAE, Dassault On Planes, Signs Airbus Satellite Deal

The UAE has signed a Dhs3.745 billion ($1.02 billion) contract with Airbus and Thales