Exclusive: No Negative Feedback From Tourism Dirham: Dubai Tourism Chief

The new charge, varying between Dhs7 and Dhs20, was introduced on March 31 and is applicable per room per night across hotels in Dubai.

Bahrain’s Ahli United Bank Considers Sale Or Merger

The deal, estimated to be worth $5 billion, would be the largest banking transaction in the region for the past 20 years.

Saudi Authorities Detain Activist After Court Appearance

Waleed Abu al-Khair has been charged with breaking allegiance to King Abdullah, disrespecting authorities and inciting public opinion.

Qatar Islamic Bank Posts 15% Q1 Net Profit Increase

The bank made a net profit of $92 million in the opening three months of 2014.

Dubai Rental Growth To Continue In 2014

Residential rental growth is expected to continue until there is adequate supply in the market.

HSBC Bank Oman Says Agrees Indian Business Sale To Qatar’s Doha Bank

The deal is due to be completed in the second half of 2014, a statement said.

Langham Plans Dubai Palm Jumeirah Hotel For 2015

Luxury Hong Kong-based hotel company makes its first foray into the Middle East and chooses Dubai as the first resort in its global collection.

Zain Saudi Q1 Net Loss Narrows, Beats Estimates

The company made a net loss of $84.8 million in the three months to March 31.

UAE Confirms Three New MERS Cases

All newly detected cases have shown no outward symptoms of the virus, HAAD said.

Oman’s Bank Muscat Q1 Net Profit Jumps 59%

The bank made a quarterly profit of 39.76 million rials ($103.3 million) in the three months to March 31.

Saudi Intelligence Chief Prince Bandar Replaced By His Deputy-Royal Decree

Prince Bandar, a former ambassador to Washington, was appointed as the chief Saudi spy in July 2012.

Saudi Arabia: Reported Poison Gas Use By Syria Is Challenge To World

The reported gas attacks posed a clear challenge to the Security Council decision to dismantle Assad’s chemical arsenal, a senior official said.

Saudi Arabia’s Sahara Q1 Net Profit Drops 20.3% On Lower Sales

Sahara blamed the decline on lower sales, citing a planned shutdown of Al Waha plant as well as lower income from associates.

Five Minutes With… Ammar Abulohom, CEO, Dar Al Aqar

Dubai’s real estate market still has plenty of growth opportunities, says the CEO of property brokerage service provider, Dar Al Aqar.

Fire Reported In Dubai’s Ravi Restaurant

The blaze was reportedly caused by a fault in the restaurant’s recently installed electric signage.

Oman Extends Recruitment Ban On Expat Maids And Labourers

The extended ban, issued by the Ministry of Manpower, will come into effect from May 4 this year.

Air Arabia To Begin Services From Ras Al Khaimah On May 6

The Sharjah-based low-cost carrier has been designated the new airline of Ras Al Khaimah following the closure of RAK Airways.

Dubai’s Takaful Emarat Expects To Post Q1 Profit

The company’s past financial statements show it last reported a quarterly profit in the first quarter of 2009.

Kuwait To Award $4.3bn Contract This Year For Heavy Oil Project

The deadline for bids for the engineering, procurement and construction (EPC) contract is May 11, a senior executive said.

Etihad’s Revenues Surge 27% In Q1 2014

The airline’s growth in revenue was aided by an increase in passengers resulting from its codeshare and equity partnerships.

Dubai’s IMG Theme Park Gets $327m Islamic Loan

Proceeds will be used to expand the $1 billion Worlds of Adventure theme park.

Saudi Warns Imams Against Talking Politics In Mosques

Religious clerics found preaching about politics during their Friday sermons could lose their jobs, the ministry said.

Saudi Samba Financial Group Q1 Profit Up 7%

The bank attributed the profit rise to a drop in operating expenses.

Exclusive: Dubai Not Building Any Hotels For The Expo – Tourism Chief

The current hotel supply pipeline is only linked to the emirate’s 2020 tourism strategy, says Helal Al Marri, the head of Dubai’s DTCM.

Saudi Cement Co Q1 Profit Falls 16% As Demand Sags

The firm made a profit of $76.3 million in the three months to March 31.

Saudi Arabia Imposes Fines, Jail Terms For Visa Lapses

Police raids and an amnesty on fines for immigration violations last year caused over a million foreigners to leave voluntarily.

Saudi Miner Ma’aden Q1 Profit Falls 48% As Metal Prices Drop

Ma’aden made a profit of 125.2 million riyals ($33.4 million) in the three months to March 31.

Infiniti Middle East Sales Up 19% In 2013

The Japanese car maker sold around 5,892 units in the region during its financial year ended March 2014.

UAE Authorities Assert MERS Not A Public Health Concern

One person died from MERS and five others have been infected with the disease in the Emirates, it was reported last week.

Swiss Chocolate Firm Lindt & Sprungli Opens Dubai Office

The move was facilitated by the emirate’s official foreign investment development agency Dubai FDI.