Dubai’s Nakheel 2014 Net Profit Jumps 43.2% Despite Revenue Slump

The company made a net profit of Dhs3.68 billion ($1 billion) in 2014, up from Dhs2.57 billion in 2013, its chairman said.

Saudi’s Sahara Petrochemical Says Unit Signs $522m Loan Refinancing

The new loan also has more favourable pricing and conditions than the existing deal.

Kuwait Petroleum Corp Chief Says Expects Oil Below $100 For Next Few Years

Oil minister Ali al-Omair said that Kuwait would nevertheless continue developing its production and refining capacity.

Reef Real Estate Launches New Residential Tower In Jumeirah Village Circle

Reef Towers will comprise of 378 units and seven retail units, the developer said.

Qatar’s Doha Bank Plans Bond Issues, Tier 1 Capital Instruments

The bank said that it would seek shareholder approval to issue Tier 1 capital instruments worth $549 million.

Qatar’s Doha Bank Recommends 2014 Cash Dividend

The bank declared a cash dividend of QAR4 per share for 2014.

Saudi’s Kindgom Holding Q4 Net Profit Rises 15%

Kingdom made a net profit of SAR266 million ($70.84 million) in the last quarter of 2014.

Etihad Says Remains Committed To Darwin Airline Tie-Up

Etihad is in the process of buying a 33.3 per cent stake in Darwin, which has already rebranded itself Etihad Regional.

Bahrain Sentences Rights Activist To Six Months In Jail

Rajab took a leading role in Shi’ite-led demonstrations in Bahrain in 2011 that demanded reforms.

Saudi Ma’aden Swings To Q4 Net Profit, Misses Estimates

The company reported a net profit of SAR376 million for the last quarter of 2014.

Dubai’s TECOM Investments Signs For Loan Facility Of Up To $1.1bn

The loan is expected to help fund the company’s general corporate needs and growth plans, the company said in a statement.

Kuwait Pulls Licence Of Company That Publishes Critical Newspaper

Al-Watan was one of two newspapers suspended by a judge for two weeks last year.

Doha Bank Q4 Net Profit Rises 6.1%, Misses Forecasts

Net profit for 2014 gained 3.1 per cent year on year to QAR1.35 million.

UK Minister Says Deplores Saudi Activist’s Flogging, Plans To Raise Matter

Saudi has come under pressure from Western countries over its punishment of activist and writer Raif Badawi.

Etihad And Alitalia Unveil Network Details

Sicily set to be the fifth Italian destination connected to Abu Dhabi

Aabar Investments Inks Deal With Manchester City Women’s Football Club

As part of the deal, Aabar will sponsor the team’s pre-season training camp and receive a certain portion of match-day advertising.

Samsung Launches Galaxy A5, A3 In UAE, Targets Young Buyers

Samsung’s slimmest smartphones to date, the A5 and A3 are priced at Dhs1499 and Dhs1099 respectively.

Saudi Aramco To Cut Drilling Costs, Hold Rig Count Steady

Aramco deployed 210 oil and gas rigs in 2014.

National Bank Of Kuwait’s Q4 Net Profit Rises 46%, Misses Forecasts

Net profit for 2014 was KD261.8 million, up around 10 per cent from 2013.

Dubai’s Property Market Will Be Driven By Homeowners – Emaar’s Alabbar

The emirate’s real estate market is also seeing a growing demand for affordable luxury homes, he said.

UAE, France Ink Deal To Fund Renewable Energy Projects

The countries are looking to announce their first project this year and are currently reviewing project proposals in the Middle East, a joint statement said.

UAE Central Bank: Business Credit Demand To Rise This Quarter

Around two-thirds of respondents expect demand for business credit to accelerate in the current quarter, with growth in Dubai likely to be strongest.

Saudi Telecom Appoints Khalid Bin Hussain Biyari As CEO

Biyari’s current roles include senior vice president for technology and operations, and vice chairman of affiliate Viva Kuwait.

Saudi’s Tasnee Q4 Net Profit Drops 46.5% As Petchem Prices Weigh

The company made SAR160.7 million($42.8 million) in the last quarter of 2014.

UAE Energy Minister: Lesson Of Oil Price Drop Is Diversification

Oil prices have dropped almost 60 per cent since June 2014, when they stood at $115 per barrel.

Around 46% Of UAE Residents Say Living Costs Outpace Salaries

The rising cost of living is among the factors impacting UAE residents’ plan to save for their retirement.

Saudi Arabia’s Nuclear, Renewable Energy Plans Pushed Back

The country was initially looking to install 17 gigawatts of nuclear power and 41 gigawatts of solar capacity by 2032.

Saudi’s Al Tayyar Travel Q4 Net Profit Up 13.5% On Sales Jump

The company made a net profit of SAR236 million ($62.9 million) in the last quarter of 2014.

Bahrain Opposition Leader To Go On Trial On Jan 28

Sheikh Ali Salman is facing four charges including promoting regime change by force, his defence lawyer said.

Dubai Refiner ENOC Says Seeking $1.5bn Long-Term Loan

The company said that the loan was for general corporate purposes.