UAE Says No Need For Emergency OPEC Meeting, Market Will Fix Itself

UAE Oil Minister Suhail Bin al-Mazroui’s came as brent prices neared $60 a barrel.

Saudi Prince Alwaleed’s Alarab News Channel To Go Live On Feb 1

The Arabic language news channel, based in Bahrain, was initially slated to begin airing in end-2012.

Kuwaiti Ship, Egyptian Fishing Boat Collide In Red Sea, Killing 13

The collision is at least the second such recent incident involving vessels passing through the Suez Canal.

Abu Dhabi’s Aldar To Cut Debt By Over A Third Within Two Years

The reduction is down to Aldar using some of the money due from Abu Dhabi’s government to repay debt, its CFO said.

Dubai Health Authority Shuts Down Four Health Clinics Over Quality Issues

Facilities that have been shut down include a day-care surgery centre, a plastic surgery clinic, an aesthetics clinic and a dermatology clinic.

World Expo Organiser BIE Sends Delegation To Dubai

The delegation, which includes the secretary general of the BIE, is checking on the progress of Expo 2020 Dubai.

Sultan’s Absence Raises Worries Over Oman Succession

Analysts fear that any power struggle after the sultan’s death within his Al-Said family – or between the royal family and army leaders – could rattle the country.

Islamist Group Criticises Egypt Over Arrest Warrant For Cleric

Interpol this month issued a Red Notice alert for Sheikh Youssef al-Qaradawi in connection with several alleged offences including murder, arson, vandalism and theft.

Dur Hospitality Inks Deal With IHG To Operate Hotels In Saudi Arabia

As per the deal, a number of Holiday Inn & Suites branded hotels will be developed across the Kingdom over the next five years, IHG said in a statement.

Abu Dhabi Businessman Gets Loan Of Up To $800m For Travelex Purchase

The facility, arranged by Goldman Sachs and Qatar National Bank for B. R. Shetty, will last for 18 months, according to one of the sources.

Bahraini Telco Viva Eyes Data Growth As Per-User Call Income Falls

Voice calls accounted for 64 per cent of the operators’ revenues in 2013, data was 18 per cent, text messaging four per cent and subscription payments 14 per cent in Bahrain.

Stock News: Dubai, Other Gulf Markets Rebound On Stronger Oil

Brent crude climbed above $62 per barrel on Monday, after hitting 5-1/2-year lows of $60.28 earlier.

Qatar’s Barwa Real Estate Wins $206m Warehouse Contract

The 25-year arrangement was awarded by state-owned Manateq.

Saudi Arabian Security Man Shot Dead In Riyadh – Police

A gunman holding three labourers hostage shot dead a member of the security forces when police tried to free the captives.

Kuwait Working To Improve Stock Exchange Conditions

New changes would cover market mechanisms and the operations of market makers.

Kuwait May Cut Planned Spending Next Fiscal Year – Parliament

Officials are estimating budget spending at KD19 billion in the fiscal year starting next April.

Abu Dhabi Bourse Approves Temporary Halts On Stocks That Fall 5%

The move comes after days of stock market falls across the Gulf region in response to slumping oil prices.

Majority Of UAE Residents Say Savings Are Inadequate For Future

Rising cost of living and inflation are the main factors impacting the ability of UAE residents to save, a new survey says.

UAE Says OPEC Won’t Change Output Even If Price Drops to $40

UAE minister of energy ruled out a cut in OPEC’s production or an emergency meeting soon to stabilise the falling oil prices.

Qatar Predicts Booming Economy In 2015 Despite Oil Price Slide

Despite the oil slump, the country’s wider economy is likely to be shielded by its fiscal strength, officials said.

Emaar To Distribute $2.45bn Special Cash Dividend On Dec. 23

The special cash dividend follows the successful IPO and listing of the Emaar Malls Group.

Concrete Work On Abu Dhabi’s Louvre Museum Almost Complete

The museum, anticipated to be ready by December 2015, will encompass 9,200 square metres of art galleries.

Etihad Doubles US Network With New Services to Dallas/Fort Worth

The Abu Dhabi-based airline is expanding its US network as it looks to tap into the growing business and trade links between the US and the UAE.

Stock News: Dubai Tumbles After Oil Hits Fresh Low

The Dubai benchmark tumbled 6.1 per cent to 3,374 points, erasing most of its remaining year-to-date gains.

Saudi’s Tasnee Names SABIC Finance Head As New CEO

Current CEO of Tasnee, Saleh bin Fahad al-Nazha, resigned for personal reasons, the company said.

Dubai’s Aramex Buys South Africa’s PostNet Franchise For $16.5m

PostNet provides courier, printing and copying services, plus stationery and mailboxes, and has 287 stores in South Africa.

Airbus A350 Delivery To Qatar Rescheduled For Dec 22

The handover of Airbus’ first mainly carbon-composite jet was originally scheduled for December 13.

Flydubai Targets European Traffic Flows

The low-cost carrier is launching new routes to Zagreb, Sarajevo and Sofia.

Oman’s Mina Al Fahal Refinery To Resume Operating On Dec. 18

ORPIC had said on Dec. 5 that it had put out a fire at one of the naphtha treatment units at the refinery in Muscat.

Saudi King Gives $35m Grant For Ebola Fight

Under the grant, Jeddah-based IDB will setup treatment centres in Sierra Leone, Guinea and Liberia and Mali.