Total Wins 10% Stake In Abu Dhabi’s Largest Onshore Oil Fields

ADNOC awarded Total a 10 per cent stake in the main land-based concession for 40 years starting Jan. 1, 2015.

Saudi Arabia Says Seeks 660,000 Tonnes Of Wheat In Tender

The wheat will be purchased in shipments of 55,000 tonnes, the Kingdom’s state grain buyer said in a statement.

Gulf Countries Pledge Over $39m To Global Vaccine Fund

Saudi Arabia and Qatar were the biggest contributors, committing $25 million and $10 million respectively to Gavi Alliance.

Vodafone Qatar Q3 Net Loss Widens

Vodafone made a net loss of 68.8 million riyals ($18.9 million) in the last quarter of 2014.

National Bank Of Oman Proposes 17% Cash Dividend, 10% Bonus Shares

NBO, earlier in January, posted a 29 per cent rise in fourth-quarter net profit, beating estimates.

Bank Muscat To Pay 25% Cash Dividend, 15% In Bonds, 5% Bonus Shares

The bonus shares will be paid out in the proportion of one share for every 20 ordinary shares held, the lender said.

Ooredoo Oman Q4 Profit Falls 17%

The firm made a net profit of OMR8.3 million ($21.6 million) in the last quarter of 2014.

Saudi Airman Gets 35 Years To Life For Raping Boy In Las Vegas

Mazen Alotaibi was found guilty in Las Vegas in 2013 of kidnapping, burglary, coercion, lewdness on a child and sexual assault on a minor.

Bahrain’s Most Senior Opposition Leader Goes On Trial

Appearing in court, Salman denied all charges and said he had been calling for reforms in Bahrain through legal means.

Kuwait Cuts Diesel Fuel Prices After Political Pressure

State news agency KUNA estimated that diesel price reform would save the government around $1 billion a year.

Gourmet Date Company Bateel Agrees L Capital Asia Partnership

The deal is the first completed by L Capital Asia in the Middle East, a statement said.

Bahraini Bank BBK Plans Bond Issue To Refinance Maturing $500m Debt

The offering by the bank will have a lifespan of between five and seven years.

UAE Bank FGB Q4 Net Profit Rises 13%, Beats Analyst Forecasts

The bank made a net profit of Dhs1.55 billion ($422 million) for the last quarter of 2014.

Aster DM Healthcare Group To Invest Dhs500m In GCC By 2017

The group is planning to open 40 new medical centres as part of its expansion in the region, a senior company official said.

Dubai’s Tecom Investments Launches Phase Two Of Villa Lantana For Sale

Construction of the villa project has already begun and it is due for completion at the end of 2015.

UAE’s NBAD CEO Declines Comment On Citigroup’s Egypt Consumer Unit

The lender was one of 10 bidders for the business put up for sale by the U.S. bank in October, a source told Reuters earlier this month.

Saudi’s Emaar Economic City Says Cheap Oil May Boost Growth

The company, a consortium headed by Dubai firm Emaar Properties and Saudi investors, is building King Abdullah Economic City, a special economic zone near Jeddah.

Emirates To Fly A380s To Dusseldorf And Madrid

Emirates’ superjumbo network in European grows to 13 points

Abu Dhabi Launches New Water Taxi Service To Eastern Mangroves

The weekend Abra service will run from Souk Qaryat Al Beri to Eastern Mangroves, with stops at three five-star hotels.

UAE Lender NBAD Beats Forecasts With 28% Q4 Net Profit Rise

NBAD made a net profit of Dhs1.372 billion ($373 million) in the last quarter of 2014.

Yasref Refinery In Saudi Arabia To Load 2nd Diesel Cargo On Thursday

The 400,000 bpd refinery, which is currently running at about 60 per cent of capacity, started gasoline output this week.

Henkel Named Dubai Lynx Advertiser Of The Year For 2015

The company won five golds and a grand prix during the Dubai Lynx awards last year.

Qatari-Led Group Wins $4bn Battle For Canary Wharf

Songbird said it still thought the offer undervalued the company but with no rival offer forthcoming it recommended its shareholders to accept the deal.

Kuwaiti Telecom Group Zain May Sell Transmitter Towers

A source familiar with the matter said that Citigroup had been hired to look into options for Zain’s towers.

Sharjah Ruler Approves Largest Budget, Hikes Spending By 12%

The 2015 budget will also provide job opportunities to 1,000 Emiratis, a finance department official said.

Oman Bank Dhofar Proposes 10% Cash, 10% Bonus Share Dividend

The bank’s proposed 2014 dividend is equivalent to $0.03 per share in cash and one free share for every 10 a shareholder owns.

Dubai’s Drake & Scull Wins $54m Engineering Contract

Drake & Scull Engineering will provide MEP services for an under-construction hotel and apartment complex.

UAE Summons Iraqi Ambassador Over Flydubai Shooting In Baghdad

Gunshots were fired at the flydubai flight when it was landing at Baghdad airport on Monday evening.

Obama And Saudi King Discuss Iran, Energy In Symbolic Visit

Obama cut short a trip to India to fly to Riyadh, and was joined on the four-hour visit by a big delegation.

Saudi’s Samba Proposes SAR8bn Bonus Share Issue To Raise Capital

The lender will increase its capital to SAR20 billion from retained earnings by issuing two shares for every three shares held.