TPG/Abraaj In Exclusive Talks For Saudi Fast-Food Chain Kudu

Riyadh-based Kudu operates more than 200 restaurants in the Kingdom.

Gunmen Kill Two Saudi Guards Near Yemen’s Border

The gunmen opened fire on a border patrol in Asir, SPA reported, but did not say who was behind the attack.

SABIC Plans To Lift Steel Capacity To 10m Tonnes By 2025

The company’s total steel production currently stands at six million tonnes per year.

Nakheel Signs Deal With Accor For Dragon Mart Hotel

The 250-room hotel at Dragon Mart will be managed by Accor under the ibis Styles brand.

Oman’s $600m Saraya Bandar Jissah Tourism Project To Create 800 Jobs

The Saraya Bandar Jissah development includes two hotels to be operated by Jumeirah Group.

Mubadala Hires Six Banks For Eurobond Issue

Mubadala was last in the market in April 2011 through a $1.5 billion five-and 10-year trade.

Oasis Centre May Include Cinemas In The Future – Director

The Landmark group hopes to have at least 10 Oasis Centre malls operational across the GCC by the end of 2015.

Damac Launches New Tower – Vantage, In Jumeirah Village

The project will include 388 serviced living units, with prices starting at Dhs625,100.

Dubai’s Residential Rent Pricing Unsustainable – Expert

Apartment and villa rents in the emirate grew by five and three per cent respectively in Q1 2014, a new report says.

Saudi’s Sipchem Q1 Net Profit Rises 6.5%

Sipchem made a profit of 68.7 million Saudi riyals ($18.3 million) in the three months to March 31.

Kuwait Hopes For Remedy To Gulf Row Over Qatar Soon

Kuwait, which offered to mediate in the dispute, is planning to present a solution to the two sides soon, a Gulf Arab diplomat said.

Dubai’s Marka Eyes Fashion, Retail Growth Across Gulf

Dubai-based Marka said it will introduce global franchises and brands to the Gulf, allowing it to build a customer base quickly.

Saudi Arabia’s NCB Names Advisers For Share Sale

NCB chairman Mansour al-Maiman said earlier this week that the bank was preparing to list its shares on the Saudi stock exchange this year.

Oman Plans LPG Plant Aimed At Local Market

The complex, expected to cost about $500 million, could produce up to 800 tons a day of LPG.

Mohamed Alabbar to acquire stake in YNAP from Richemont

Alabbar-Chaired Firm Launches $1.2bn Project In Langkawi, Malaysia

Perdana Quay, launched by Tradewinds Corporation, is an integrated leisure, retail, residential and commercial development.

Qatar National Bank Q1 Net Profit Rises 13.7%

The lender’s profit was boosted by strong loan growth related to extensive construction spending in Qatar.

Saudi Telco Regulator To Re-Tender Piggyback Mobile Licence On Zain Saudi’s Network

Saudi’s Communications and Information Technology Commission named Dubai-based Axiom Telecom as the provisional winner last year.

Nakheel’s Q1 Profit Up 28% To Dhs629m

The Dubai developer said it handed over 400 units during the first quarter of the year.

UAE Plans Law To Regulate NGOs

The law is expected to be ready by 2015, according to a UAE federal minister.

Emirates To Cut Three Kiev Flights

The reduction follows ongoing political unrest in Ukraine.

Saudi Authorities Asked To Allow Sport For Girls In Public Schools

A ban on sports in private girls schools was officially lifted last year.

UAE’s Julphar Inks Five-Year Deal With Global Pharma Firm Merck

Under the deal, Julphar will manufacture MSD products related to diabetes, asthma, allergy, pain and inflammation.

Abu Dhabi Residential Rents Up 20% In Q1 2014

The UAE capital recently removed its five per cent rent cap, which is already impacting rates, says CBRE report.

Second-In-Line To Saudi Throne Denounces Banks -Media

There were no indications that the comments by deputy crown prince Muqrin bin Abdulaziz would be followed by any concrete policies against banks in Saudi Arabia.

UAE Named World’s Largest Foreign Aid Donor In 2013

The UAE’s official development assistance amounted to $5.2 billion in 2013, up 375 per cent from 2012.

Saudi Records 11 Cases Of MERS Virus In Jeddah

Two of the patients died, six have recovered, while three are undergoing treatment, the official Saudi Press Agency reported.

IMF Revises UAE Growth Forecast To 4.4% For 2014

Rising real estate prices and the Expo win are expected to boost UAE’s economic growth, says IMF.

Saudi British Bank Q1 Profit Rises 14%

The bank said it made 1.08 billion Saudi riyals ($287.97 million) in the three months ending March 31.

Saudis Keeps May Crude Supply Steady To 2 Asia Buyers -Sources

Saudi Arabia has supplied full contractual volumes to most Asian buyers since late 2009.

Can Dubai Become The Capital Of The Islamic Economy?

Marketing expert Prof Laurent Marliere considers challenges to make Dubai the hub of the emerging Islamic economy.