UAE Calls Egyptian Hostage Killings By ISIL “An Ugly Crime”

The UAE’s president and other leaders condemned the killings and affirmed their support to Egypt in rooting out such radical groups.

Bahrain’s Batelco Q4 Net Profit Rises 22%

The former monopoly has now posted rising profits in four of the past six quarters.

Orascom Construction To List On Nasdaq Dubai, Egyptian Exchange

The listing followed a demerger of OCI NV’s engineering and construction business from its fertilizer and chemicals business.

Emirates Introducing A380 On Milan-New York Route

The service will begin from June 1, and raise superjumbo capacity between Dubai and Milan.

Hospitals on Alert As Saudi Arabia Finds Six New MERS Cases

Two people have died after being affected with MERS over the last two days, prompting fresh health warnings to prevent an outbreak.

Oil Steadies Around $61, Kuwait Sees Prices Supported

The price of Brent crude has increased by more than 30 per cent in the last four weeks.

Abu Dhabi’s NMC Health Says Signs $825m Loan Facility

The facility is divided into two tranches and will be used to refinance existing debts of NMC and to fund its acquisitions.

Kuwait Oil Minister Says He Expects Price Rally To Continue

Omair said the current market surplus was less than 1.8 million barrels per day.

Dubai’s MAF To Open Canadian Brand Lululemon Stores In ME

The first lululemon athletica store is slated to open in Dubai later this year.

Omantel Says Board Proposes Paying Cash Dividend Of 75%

The proposed cash amount, for which no timeframe was given but which is in line with what the company paid for the second half of 2013.

Bahrain Sends Warplanes To Jordan To Fight ISIL

The country did not say how many aircraft or what kind were sent.

Bahrain Confirms Six-Month Sentence For Opposition Official

Jameel Kadhim was sentenced on charges of making false allegations that undermined national elections.

Oman Antimony Project Secures $40m Loan

Antimony trioxide is mostly used as a flame retardant and a catalyst in the production of plastics.

Saudi Arabia Condemns Attacks In Copenhagen And North Carolina

Two civilians died in attacks in Copenhagen on Saturday and five police were wounded.

Omantel Q4 Net Profit Falls 11%

The former monopoly made a net profit of 26.5 million rials ($68.8 million) in the last quarter of 2014.

Egypt Lines Up $6.8bn Of Kuwaiti Investment For Energy Projects

Prime Minister Ibrahim Mahlab signed MoUs with Kuwaiti companies involving projects due to start in three to five years.

Dubai’s Emaar Properties Q4 Net Profit Rises 14%

Emaar made an annual profit of Dhs3.29 billion in 2014, up 28 per cent year-on-year.

Different Arab money

Gulf States Continue Dialogue On Value-Added Tax – UAE Official

The GCC states have been mulling the introduction of VAT since 2007 to broaden their revenue base.

Dubai’s Shuaa Capital Appoints New Chairman

The company appointed Abdul Rahman Jareb Rashed Al Hareb as the new chairman, replacing Sheikh Maktoum Hasher Al Maktoum.

UAE’s Commercial Bank International Names Robinson As CEO

He replaces Kris Babicci, who stepped down from the post in October.

Dubai’s National Petroleum Services Signs $200m Financing

NPS secured the refinancing deal from a group of banks and financial institutions.

Passenger Checking Process At Dubai Airport To Soon Last Less Than 20 Seconds

Dubai plans to launch an Advance Passenger Information System which will raise the security and cut screening time at airports.

Alghanim Industries Signs Deal To Expand Wendy’s In The Middle East

Kuwait’s Alghanim has acquired all operational outlets of Wendy’s in the UAE with plans to open additional stores in the MENA region over the next 10 years.

Dubai World Has 100% Creditor Assent For $14.6bn Debt Deal -Court

The adjournment will allow time for all creditors to sign an agreement which formally pledges each will assent to the plan put forward by Dubai World.

Jordan Jails Senior Muslim Brotherhood Leader For Criticising UAE

Rushaid, the deputy head of the Muslim Brotherhood in Jordan, had criticised the UAE for designating the pan-Islamic movement as a terrorist group.

RAK’s Al Hamra Awards Dhs230m Contract To Double Retail Space In Manar Mall

Following the expansion, the net leasable area at Manar Mall will increase from 30,000 to 60,000 sqm.

Saudi’s SABIC Says Appoints Yousef Al-Benyan As Acting CEO

Benyan replaces Mohammed Al Mady, who was appointed as the president of the country’s military industries corporation.

Dubai’s Drake & Scull Q4 Profit Falls 70%

The contractor made a profit of Dhs13 million ($3.54 million) in the last quarter of 2014.

Air Arabia Blames Fuel Hedging As Q4 Profit Falls 30%

The carrier made a net profit of Dhs64.6 million ($17.59 million) in the last quarter of 2014.

Oman’s United Finance Says Agrees In Principle To Bank Nizwa Merger

United Finance said in a bourse statement that it would consider Bank Nizwa’s merger proposal when its board next met.