Dubai Agrees $1.7bn Sale Of German Packaging Firm Mauser

Mauser was put up for sale earlier this year, having been bought by DIC from JP Morgan’s buyout unit in 2007, in a deal which valued the firm at 850 million euros.

Oman’s Raysut Cement Posts Flat Q1 Profit, Misses Estimates

The company made a profit of OMR8.23 million ($21.4 million) in the three months to March 31.

Dubai Bourse Changes Trading Session Structure Ahead Of MSCI Upgrade

The move is expected to make closing prices more predictable and eliminate large last-minute swings, the bourse said.

UK Fraud Office Steps Up Probe Into Barclays Over Qatar

The Financial Times said this was an acceleration of the SFO’s probe into allegedly corrupt arrangements with Qatar as part of the bank’s emergency cash call in 2008.

Abu Dhabi’s Union National Bank Q1 Net Profit Rises 3.5%

The bank made a profit of Dhs512.1 million ($139.4 million) in the quarter, up from Dhs494.9 million a year earlier.

UAE’s Aldar Q1 Net Triples On Handovers And Sales

The developer’s profit rose to Dhs453.4 million ($123.4 million) in the first quarter from Dhs154.3 million in the same period of 2013.

Kuwait’s Burgan Bank Q1 Net Profit Up 10%

Burgan made a net profit of KD17.1 million ($60.8 million) in the three months to the end of March.

Omani Power Firms Set To Double Profits After Share Offer

The two firms’ owners aim to raise a combined $163 million through the sale of 35 per cent of each company.

UAE Annual Housing Allowances Range Between $20,000 And $53,000 – Survey

Housing allowance currently stands at around 25 per cent of basic pay across most GCC countries.

UAE’s Julphar Sees 19% Growth In Q1 Sales Revenues

The company’s gross profit rose almost 18 per cent to reach Dhs237.1 million in first quarter of 2014.

Qatar Bourse Says To List First Exchange-Traded Funds

The launch of the two funds will follow MSCI’s upgrade of Qatar to emerging market status later this month.

Dubai’s Shuaa Capital Swings To Q1 Profit

Shuaa made a profit of Dhs8.2 million ($2.23 million) in the three months to March 31, according to a bourse statement.

National Bank Of Oman Appoints New Chief Executive Officer

Ahmed al-Musalmi, who has served as deputy chief executive officer for the bank since 2011, succeeds Salaam al-Shaksy.

Dubai Fund ICD’s Financial Results Disclosed As It Readies Bond Sale

The fund had revenue of Dhs91.2 billion ($24.8 billion) for the six months ending June 30, 2013, compared with Dhs77.3 billion in the same period in 2012.

Abu Dhabi Telco Etisalat Seeks Banks To Arrange Debut Bond Deal – IFR

The plan is to use bond market financing to take out a bridge loan signed in connection with the acquisition.

RAKBANK Ups Foreign Ownership Limit By 20%

The new FOL would be 40 per cent and aims to improve the liquidity available to foreign investors.

Kuwaiti Logistics Group Agility Q1 Net Profit Rises 11%

Agility made a profit of 11.24 million dinars ($40.04 million) in the first three months of 2014.

Etihad Does Not Need To Conduct Tender Offer For India’s Jet-Regulator

SEBI was examining whether the share sale agreement between the two airlines amounted to an acquisition of joint control in the Indian airline.

Emirates Airline 2013 Profit Rises 43%

Emirates made a profit of Dhs3.3 billion for the fiscal year ending March 31, it said in a statement.

Bahrain’s GFH Appeals Kuwait Market Regulator Monitoring

Kuwait’s regulator noticed GFH stock traded in high volumes in May 2013, the Islamic investment firm said in a statement.

Saudi’s Abdul Mohsen Al-Hokair Gets Regulator Nod For IPO

The IPO will be divided into two sections and conducted as a book-build offering, the statement said.

Gulf Customs Union Plan Needs Compromises To Start On Time – Kuwait

The full functioning of the Gulf Customs Union has been partly delayed by disagreements over a formula on how to divide customs revenues between the states.

Saudi’s Algosaibi Says Creditors To Get Min 20 Cents On Dollar Under Debt Plan

The firm said it would pay 10 per cent of claims as an upfront payment and would target a total recovery for creditors of between 40 and 60 per cent of their due cash.

Oman Says Govt May Cut Petrol Subsidies, No Bond Plans For 2014

Further privatisations of state-owned companies in Oman were also unlikely to take place in 2014, its financial minister said.

Kuwait’s KIPCO Q1 Profit Rises 20%

KIPCO’s first-quarter revenue rose 19 per cent to 137 million dinars.

Saudi Tadawul CEO Says Looking To Go Public “Soon”

The Kingdom’s stock market saw five initial public offers of shares in 2013 worth around $506 million.

Saudi Group Algosaibi Seeks Truce In Debt Dispute

Saudi Arabian conglomerate Ahmad Hamad Algosaibi & Brothers’ failure in 2009 left debts estimated at more than $7 billion.

GCC’s Fiscal Surpluses To Shrink As Oil Prices Weaken

Oil prices are set to drop to $106 per barrel in 2014 and $101 next year from around $108 now.

Kuwait Renews Crude Oil Contracts With India’s BPCL

BPCL operates a 240,000 bpd Mumbai refinery in western India and a 190,000 bpd Kochi refinery in the south of the country.

GIH Faces Kuwait Shares Suspension If It Misses AGM Deadline – Watchdog

Ultimatum a sign of the Capital Markets Authority (CMA) tightening its oversight on corporate disclosure norms in the Gulf State’s financial sector.