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.

Qatar Airways Moves To The New Hamad International Airport

The facility will become the new home for the national carrier of the state of Qatar.

UAE’s Just Falafel To Open 57 New Outlets In Europe

The stores, located in Europe’s Benelux region, will be operated by Wadi Degla Holding.

Dual Screen YotaPhone Smartphone Launches In The Middle East

YotaPhone aims to offer users a unique interactive experience with an additional electronic paper display.

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.

Kuwait’s Americana Q1 Profit Rises 10.4%

The company, a franchise operator of restaurants including KFC and Pizza Hut, made $64.4 million in the first three months of 2014.

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.

Abu Dhabi Targets Chinese Tourists Post Nu Skin Event

The emirate is organising a roadshow across Beijing, Shanghai, Chengdu, Guangzhou and Hong Kong.

Egypt To Get More Than $3bn In Free Fuel From Saudi By August

Egypt’s government said last week that gifted fuel from Gulf nations, including Saudi Arabia, totalled $6 billion.

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 Nakheel Partners With UK’s Premier Inn For Ibn Battuta Hotel

The 372-room hotel at Ibn Battuta Mall is scheduled to open in 2016.

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.

Etihad Rail Signs MoU With Saudi Railways Company

The agreement is expected to allow for greater collaboration ahead of the GCC Rail project.

Dhs500m Sharjah Project Set for 2017 Completion

Located 65km off the UAE coastline the island will be home to hotel apartments, villas, and a luxury five-star hotel

Dubai’s RTA Awards Dhs384m Deal For Phase II Of Water Canal Project

The second phase of the project is scheduled to be completed by 2016, RTA chairman Mattar Al Tayer said.

Omnicom, Publicis Call Off Proposed $35bn Merger

The deal, which was announced last July, foundered on issues ranging from its complex tax structure to the firms’ divergent cultures.

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’s Jumeirah Group To Invest $2bn In Hotels Expansion

The expansion will see an addition of 4,300 hotels rooms over the next three years, state news agency WAM reported.

QP To Spend Around $11bn To Redevelop Offshore Oil Field

The project includes the expansion of a QP-owned gas processing plant at Mesaieed to help collect about 900 million cubic feet of sour gas per day.

Saudi Arabia Finds Another 32 MERS Cases As Disease Spreads

The rate of infection in Saudi Arabia has surged in recent weeks after big outbreaks associated with hospitals in Jeddah and Riyadh.

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.

Dubai Charges Six Iranians With Businessman’s Kidnap

Abbas Yazdi, a businessman who owns a general trading company in Dubai, disappeared last June.

First Case Of MERS Reported In Lebanon – Health Ministry

The disease, a form of coronavirus, has killed 121 people in Saudi Arabia since it was identified two years ago.

Serco Enters Middle East Defence Market With Qatar Deal

Serco will provide postgraduate-level military education courses for Qatar’s officers in the navy, army and air force, in partnership with Britain’s Ministry of Defence and King’s College London.

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.

HTC Fights Back, Eyes Larger Market Share

After a poor 2013, the struggling phone maker says it is ready to claw back global market share.

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.

IHG Targets UAE, Saudi For MidEast Expansion

The company has around 25 new hotels in the pipeline, which are to be launched over the next five years, a top executive said.

Dubai Holding Reveals 40 Plots For Mid-Range Hotels

The company plans to add budget hotels to meet growing demand