RAK Properties Records Dhs42 million Q1 Profit

Ras Al Khaimah’s biggest property developer gained revenues of Dhs86 million for the first three months of the year.

Etihad Airways Boosts Flights To Middle East Destinations

The airline is increasing its services to Beirut and Amman from July.

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.

ISG Secures $35m Refurbishment Contract With Kempinski

The project will include the upgrade and refurbishment of all 393 guest rooms

King Abdullah Football Stadium To Open Thursday

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

Arabian Travel Market 2014: What To Expect

This year will see around 2,500 exhibitors and 66 national pavilions as industry players look to tap into the region’s lucrative travel and tourism sector.

UAE’s Agthia Reports 32% Net Profit Rise in Q1 2014

The company’s first quarter growth was mainly driven by higher net sales and an overall improvement in margins.

Wealthy Middle Easterners Make Up 60% of Second Citizenship Applicants

Europe was the most popular location for second citizenship applicants, due to its proximity to the Middle East, as well as security and investment benefits.

Oman Cement Q1 Net Profit Falls 47%

The company’s net profit fell to 3.70 million rials ($9.61 million) in the first quarter of the year compared to 6.94 million rials in the same period of 2013.

UAE Grants China Right To Develop Abu Dhabi Oil Fields

The UAE concession system allows oil producers to acquire equity in hydrocarbon resources from the country, with ADNOC usually holding a 60 per cent stake in each joint venture.

RAK Ceramics Says Major Shareholder To Sell 30.6% Stake

Sheikh Saud bin Saqr al-Qasimi, a member of the ruling family of Ras Al Khaimah, has agreed to sell 250 million shares in the company, a bourse statement said.

Commercial Bank Of Qatar Q1 Net Profit Rises 8%

The bank earned a net profit of 548 million riyals ($150.5 million) for the opening three months of 2014.

MSCI To Cut Weights Of Some Qatar, UAE Stocks

The document said the weightings of eight stocks would be reduced “as they may pose accessibility issues to international institutional investors”.

Qatar’s Al Jazeera Files $150m Damages Claim With Egypt

The company filed a compensation claim on Monday for what it said was damage to its media business inflicted by Cairo’s military-backed rulers.

UAE Lender NBAD Warns Over Falling Margins As It Posts Flat Profit

NBAD’s chief executive said fierce competition combined with global interest rate pressure was starting to drive down the profitability of lending.

Emaar May List Malls Unit On Dubai Financial Market -Sources

Company officials previously said there might be a dual listing on Nasdaq Dubai, the smaller of the emirate’s two exchanges, and London.

Abu Dhabi Sees Sharp Decline in Hotel Rates

Average daily room rates in the capital decreased 14 per cent, reducing revenue intake for each room.

Etihad Airways Urges Speedy Restructuring Of Air Berlin

The German airline had said last month it was in talks over certain options that prompted speculation that Etihad could gain more control over the carrier.

Dubai International Passenger Traffic Up 7.5% In March

The airport’s passenger traffic was boosted by the expanding networks of Emirates and flydubai, authorities said.

Emaar Launches ‘Skip The Line’ Scheme For Long Term Investors

The scheme allows long term investors and end users to purchase properties without pre-registration even on the launch day.

UAE Lender NBAD Q1 Net Profit Flat, Beats Estimates

The bank posted net profit of Dhs1.41 billion ($383.9 million) in the first three months of 2014.

Saudi Sets Up Expert Panel To Contain MERS Virus

Saudi Arabia has appointed 10 disease specialists to investigate the spread of the MERS virus and advise the government on future steps.

Dubai Expo 2020 Site Works To Be Completed By 2019- Committee

Dubai’s Expo 2020 Preparatory Committee will submit the mandatory registration dossier for the event in 2015, it was confirmed.

Dubai’s DP World Q1 Consolidated Container Volume Up 9.1%

The company handled 6.76 million twenty-foot equivalent units in the quarter, compared with 6.19 million TEU in the corresponding period of 2013.

Qatar Airways Launching A380 London Heathrow Services In June

Airline’s first superjumbo scheduled to take off from the new airport

UAE Cooling Firm Tabreed’s Q1 Net Profit Rises 22%

The Dubai-listed firm made a first-quarter net profit of Dhs58.24 million ($15.86 million) compared with Dhs47.84 million a year earlier.

HSBC’s Oman Unit Posts 46% Q1 Profit Slump

The bank made a net profit of 3.1 million rials ($8.1 million) in the opening three months of 2014, compared to 5.7 million rials in the same period of 2013.

UAE’s Etisalat Signs 3.15bn Euro Loan For Maroc Telecom Buy

This loan is split between a 2.1 billion euro one-year bridge loan and a 1.05 billion three-year portion, Etisalat said.

UK’s Gabbitas To Create Four New British Schools In Dubai

The agreement with Indian businessman Mohan Valrani will see the creation of two primary schools and two secondary schools.

Kuwait Issues New Rules For Increasing Company Stakes

At present, investors wishing to raise their stake in a firm to more than 30 per cent must offer to buy all of its shares under the same price and conditions.