Zain Saudi Gets Regulator Nod For Second Capital Cut

The company has yet to make a quarterly profit since launching service in 2008.

UAE Fund ADFG Targets $100m Finance Buyout By June – CEO

It would be the third purchase by the privately-owned investment firm in the non-banking financial services sector in recent months.

Obama To Bolster Crucial Saudi Alliance Amid Mideast Unrest

Obama’s visit comes as Washington struggles with worsening strife in the Middle East and counts Saudi Arabia among its few steady partners in the region.

Etihad Cancels New York Flight As Winter Storm Hits Northeast US

The Abu Dhabi airline is offering passengers travelling on January 27 and 28 the option to postpone their tickets.

Emirates Warns Of Currency Shifts Eating Into Fuel-Cost Benefits

The Dubai carrier is one of the few major airlines that does not hedge its fuel bill by buying future stocks of jet fuel to minimise the effect of price spikes.

Rents In Dubai May Fall Up To 10% In 2015; Rent Index Changes Mulled

The Dubai residential bubble has “deflated,” with transaction prices expected to fall up to 10 per cent this year, says JLL.

Dubai International Secures Spot Of World’s Busiest Airport In 2014

Authorities have forecast that 79 million passengers will travel through Dubai International Airport in 2015.

Abu Dhabi Bank UNB Posts 42% Q4 Net Profit Gain; Hikes Dividend

The bank reported a net profit of Dhs436 million ($118.7 million) in the last quarter of 2014.

UAE’s Majid Al Futtaim Reports Pre-Tax Profit Growth Of 10% In 2014

The retail group said that it aims to double the size of its business within the next five years.

Regional Airlines Suspend Baghdad Flights After Airplane Shooting

Emirates Airlines, flydubai, Air Arabia and Etihad Airways suspended flights on Tuesday, in line with a directive from the UAE’ civil aviation authority.

Gourmet Date Company Bateel To Sell Minority Stake – Sources

A stake of between 20 per cent and 40 per cent could be sold, according to three sources with knowledge of the sale.

Dubai-Luxembourg Firm Launches Islamic Factoring For SMEs

Tawreeq Holdings developed the concept over the past year and a half, aiming to give smaller firms a funding alternative to bank loans.

Bullets Hit Flydubai Passenger Jet At Baghdad Airport

An aviation official and a security official told Reuters that two passengers were lightly injured but the airline has denied such reports.

Etihad To Employ More Than 6,000 Emiratis By 2020

The airline is partnering with a number of government organisations and educational institutions to recruit UAE nationals.

Aramco CEO Says Oil Market Imbalance Has Nothing To Do With Saudi

The fair oil price will be one that balances supply and demand, the chief executive said.

Obama Includes Republicans In Delegation To Meet New Saudi King

US President Barack Obama will fly a 30-member delegation to Riyadh on Tuesday.

Saudi Arabia Still On Track To Open Stock Market In H1 – CMA

The regulator is expected to issue a final version of regulations covering the opening “very soon”.

Kuwait Slashes Spending Plan, Sees Big Deficit In 2015/16 Budget

The draft budget for the year starting in April envisages spending of KD19.07 billion, down by 17.8 per cent.

Saudi Economic Reforms Must Focus On Efficiency – Minister

Economy and Planning Minister Muhammad al-Jasser said economic reforms would continue under Saudi’s new king, Salman.

Qatar Petroleum To Absorb Investment Unit In Sign Of Consolidation

Qatar Petroleum International was formed in 2007 as the foreign investment arm of the firm.

Emaar Properties Targets Q2 For $270m Egypt Unit Float

Emaar Misr has a portfolio of investments in Egypt worth around 53 billion pounds.

Qatar’s Masraf Al Rayan Q4 Net Profit Up, Hikes Dividend

Masraf Al Rayan said its net profit for 2014 was QAR2 billion, up 17.6 per cent year-on-year.

Kuwait’s Zain Says Iraq Court Rejects $4.5bn Claim Against Firm

Unnamed claimants filed a lawsuit against Zain over its 2007 acquisition of an Iraqi telecom operator.

Abu Dhabi’s Aabar Gets Nod To Buy 100m More Shares In Arabtec

Should it buy the permitted number of shares, Aabar’s stake would rise to 37.27 per cent.

Abu Dhabi Rents Rose 11% In 2014, Expected To Slow In 2015 – JLL

Dropping oil prices are anticipated to lead to a slowdown in rents and property prices this year, says JLL report.

NMC Health Planning To Dual-List In Abu Dhabi This Year

Three Abu Dhabi firms have listed in London since 2013: Al Noor Hospitals, Gulf Marine Services and NMC Health.

Oil Prices Fall On Market Relief Over Saudi Policy

King Salman has retained veteran Saudi oil minister Ali al-Naimi, in a message aimed at calming a jittery energy market.

Bahrain’s New Tenancy Regulations May Hamper Property Market Growth – Cluttons

Under new rules, set to be unveiled in February, it is proposed that rent increases will only allowed at contract renewal.

Dubai’s Al Maha Ranks Among TripAdvisor’s Top 10 Hotels For 2015

The desert resort ranked eighth among the world’s top 25 hotels as decided by TripAdvisor’s annual Travellers’ Choice awards.

Yemen Crisis Is First Big Test For Saudi Arabia’s King Salman

Yemen is at risk of breaking up with the ascent of the Houthi movement.