Oman Regulator Gives Nod For Power Plant Share Sales Worth $163m

Both companies, which became operational in April 2012, are owned by mostly foreign consortiums.

Saudi Telco Mobily Seeks 20% Stake In Landline Firm Atheeb

Mobily signed a memorandum of understanding in August with four of Atheeb’s founding shareholders to buy a controlling interest in the firm.

Dubai Lender Mashreq Posts 35% Rise In Net Profit

The lender made a net profit of Dhs575 million ($156.6 million) in the opening three months of 2014, it said in a statement on Wednesday.

Abu Dhabi’s Louvre Displays Treasures At The Paris One

Backers hope the pieces, once returned to Abu Dhabi, will help create a cultural hub in the Gulf Arab state.

Kuwait Regulator Extends Corporate Governance Deadline

The rules include separating the positions of chairman and chief executive, prompt disclosure of information to the market, and establishing internal controls and risk management.

Subsidies Draining Kuwait’s State Budget -Minister

Subsidies in the major oil producer are expected to cost 5.11 billion dinars ($18.2 billion) next fiscal year to cover items like fuel and energy.

Dubai Developer Deyaar’s Q1 Net Profit Soars

Deyaar made a quarterly consolidated net profit of Dhs52.1 million ($14.2 million) compared to Dhs19.4 million in the same period in 2013.

Saudi Arabia Starts Payout To Minority Investors In Ailing Telco

A royal decree last May ordered the liquidation of the firm, which never launched services despite making a winning SAR1 billion bid for a fixed telecom licence in 2007.

Giordano To Open 40 New Stores By 2015

The fashion retailer is planning to expand across locations in the Middle East, Eastern Europe and Central and Southern Asia.

Dubai’s Arabtec To List Shares Of Building Unit In Abu Dhabi

Arabtec is trying to evolve from a local contractor into a multinational development company as its finances are boosted by a recovery in Dubai’s property market.

National Bank Of Abu Dhabi Confirms Burdett As CFO

Burdett joins from Australia and New Zealand Banking Group, where he was finance head of its international and institutional banking business.

Bahrain’s Batelco Q1 Net Profit Rises 8%

The former monopoly made a net profit of 14.5 million dinars ($38.46 million) in the three months to March 31.

Arabtec Scraps Cash Portion Of 2013 Dividend For More Stock

The company had earlier proposed a cash dividend of Dhs0.1 ($0.03) per share plus bonus shares worth 30 per cent of its share capital.

Dubai’s Arabtec To Carry Out Multiple Acquisitions By 2018 – CEO

The contractor has won a series of deals in the region recently, including the development of Abu Dhabi’s main airport and the building of a Louvre Museum.

Qatari Fund Buys UK’s Heritage Oil For $1.6bn

Heritage said that it was recommending a 320 pence per share cash offer, which represented a 25 per cent premium to its closing price the day before the approach was announced.

Abu Dhabi Hotel Revenues Rise 11% In Q1 2014

Guest numbers in the emirate’s hotels and hotel apartments soared 32 per cent in Q1 2014, authorities say.

DWC Traffic Growth Expected As Dubai International Slots Fill

The newly launched airport is expected to see a surge in traffic as Dubai International closes for a runway upgrade.

Qatar’s Barwa Real Estate Q1 Net Profit Jumps 67%

The developer said its profit for the three months to March 31 was 265.1 million riyals ($72.8 million), up from 158.5 million riyals in the same period of 2013.

Hamad International Airport Takes Off

Ten airlines are now operating out of the $17 billion facility and all others will switch by May 27

Oman Telco Nawras Q1 Profit Rises 14%

The firm made a net profit of 8.8 million rials ($22.86 million) in the three months to March 31, a statement said.

Bahrain, Russia Sign Investment Deal Amid Western Sanctions

The Russian Direct Investment Fund (RDIF) said it had signed a deal with Bahraini sovereign wealth fund to identify and work together on investment opportunities in their countries.

Bahrain Jails Five For Plotting To Bomb 2013 F1 Race

Bahrain’s official news agency did not name the five but said they had confessed to the plot.

Abu Dhabi’s TAQA To Price $750m 10-Yr Bond Tues

The transaction was formally launched to price at 115 basis points over midswaps, a document from the lead banks said.

Emirates To Start Daily Brussels Flights

Dubai carrier targets premium business traffic to and from the EU capital

Dubai’s MAF Tightens Pricing Ahead Of $500m Bond Sale

High demand for the offering has helped MAF reduce the prospective cost of its borrowing.

$1bn New York University Abu Dhabi Construction Completed

The project was designed by award-winning architects Rafael Vinolycovers and developed by state-owned investment company Mubadala.

Unpatched OS Increasing Vulnerability of Saudi PC Users

Cyber security company Secunia found that 17.4 per cent of users had unpatched versions of WinXP, Win7, Win8 or Windows Vista.

Two Senior Bankers Leaving UAE Lender NBAD – Sources

NBAD, 70 per cent owned by the Abu Dhabi government, has been realigning its business under new chief executive Alex Thursby, who took charge last summer.

Etihad Inks Partnership Deal With Philippine Airlines

The agreement includes codesharing, frequent flyer reciprocity, airport lounge access, air pass agreements and cargo cooperation between two airlines.

King Abdullah Football Stadium To Open Thursday

The 60,000 seat venue has taken 14 months to construct.