Different Arab money

Saudi’s Ma’aden Posts Sharp Rise In Second-Quarter Net Profit

The miner made a net SAR370.8 million ($98.9 million) in the three months to June 30, compared with 40.98 million in the year-earlier period.

Kuwait Threatens To Revoke Citizenship In Crackdown On Opposition

The warning is part of an “iron fist” policy adopted by the cabinet, following protests earlier this month over the arrest of a prominent opposition politician.

Saudi’s Al Rajhi Bank Trims First-Half Dividend After Profit Fall

The bank has proposed paying SAR1 ($0.27) per share for the six-month period to June 30.

Kuwait’s Gulf Bank Q2 Net Profit Rises 9%

Net profit for the three months to the end of June was KD6.87 million.

First Day Of Eid Al Fitr In UAE Expected To Fall On July 28

The Shawwal crescent moon is anticipated to form on Sunday, July 27, the Sharjah Planetarium has announced.

Lack Of Jobs Push UAE Grads To Entrepreneurship

The majority of fresh graduates in the UAE said that finding a job was a challenge in the current market.

Dubai’s DP World Signs $3bn Loan Deal – Sources

The new five-year facility is split between a $2.39 billion conventional loan and a $610 million sharia-compliant tranche.

Samsung Unveils Swarovski Encrusted S5 Cover In UAE, Priced Dhs499

The crystal-encrusted cover comes in two shades – smoky grey and blue, and solid black.

Ajman Emerges As Relocation Hotspot For Dubai, Sharjah Residents

Rents in Ajman are growing as budget-conscious residents move from Dubai and Sharjah, where rents have soared, finds Asteco.

Qatar’s Bourse Suspends Masraf Al Rayan Shares Over Disclosure

Islamic lender Masraf Al Rayan did not disclose the sale price or other details of its recent sale of Seef Lusail Real Estate Development Co.

Qatar Electricity and Water Q2 Profit Falls 4.4%

The state-run utility made a profit of QAR417 million ($115 million) in the three months to June 30 compared to QAR436 million in the prior-year period.

UAE’s Falcon Aviation Signs $153m Bombardier Jet Deal

The transaction follows a letter of intent to acquire one CS300 aircraft and another option that was announced in February 2014.

Dubai’s Shuaa Capital Q2 Profit More Than Quadruples

Net profit in the three months to June 30 jumped to Dhs6.2 million ($1.7 million) from Dhs1.3 million a year earlier.

Kerry Calls Bahrain Minister Over Expulsion Of U.S. Official

Bahrain expelled Tom Malinowski last week, saying he had “intervened flagrantly” in the country’s internal affairs by holding the meeting.

U.S. Signs Agreement For $11bn Arms Sale To Qatar

The deal is the biggest U.S. arms sale so far this year, according to media reports.

Airbus, Under Fire From Qatar Airways, Says A380s Due By Year End

Airbus said it was working to fix problems with the A380 planes after Qatar Airways, which should have taken delivery of its first A380 in May, rejected the first three aircraft.

QFC Authority Appoints Sheikh Salman Bin Hassan Al-Thani CFO

QFC Authority said Al-Thani would help it strengthen its business environment for domestic and foreign firms.

Saudi Cement Beats Estimates Despite 6.2% Q2 Net Profit Drop

The firm made a net profit of SAR288 million ($76.8 million) in the second quarter, compared with SAR307 million in the corresponding period of 2013.

Emirates Signs $13bn Service Contract With GE

The order is for engines that will power the 150 777X jets that Emirates is buying from Boeing.

Etihad To Start Daily San Francisco Flights

San Francisco becomes Etihad’s sixth US destination.

Dubai’s Food Retail Sales Surged 500% During FIFA World Cup

Shisha cafes benefitted the most as they drew late night crowds with suhour menus and live streaming of soccer games.

Qatar Islamic Bank Q2 Net Profit Gains 15%, Beats Estimates

The Islamic lender made a net profit of $107 million during the three months to June 30.

UAE’s Abraaj Group Buys Stake In Tunisian Hospital

Abraaj’s investment will help increase patient capacity, add new services and ramp up human resource training in the hospital.

UAE Regulator Announces Guidelines For Twitter

Twitter users in the UAE are prohibited from tweeting content that is contrary to public morals and the principles of Islam.

Dubai’s Drake & Scull Gets Shareholder Nod For Strategic Investor Plan

The company said that its shareholders had approved issuing a bond that would allow a strategic investor to buy into the company.

Saudi’s Yansab Misses Forecast As Q2 Net Profit Slips 8.6%

The firm made a net profit of SAR613 million ($163.5 million) in the second quarter compared with SAR670.5 million in the same period of 2013.

Saudi’s SAFCO Posts 7.8% Q2 Net Profit Fall

The company said it made SAR639 million ($170.4 million) in the second quarter, compared to SAR693 million in the same period a year ago.

Qatar’s Masraf Al Rayan Sells Real Estate Firm Stake To Govt Fund

The Qatari lender said it had agreed to sell its 50 per cent stake in Seef Lusail Real Estate Development.

Dubai’s New Mega Projects Could Create Boom-Bust Cycle – Report

Policymaking complacency and the launch of larges scale projects such as Mall of the World could lead to property bubble, finds report by the Bank of America Merrill Lynch.

Saudi Lender NCB Posts 22% Q2 Net Profit Jump

NCB said the growth was driven by an 8.3 per cent year-on-year increase in net special commissions income.