Dubai’s Shuaa Swings To 2013 Net Profit Of Dhs2.8m

The investment bank’s annual net profit increased by Dhs62 million from a net loss of Dhs59 million in 2012.

Court Sentences Leader Of 2004 Saudi Attack To Death

Gunmen killed two Americans, two Britons and an Australian at the offices of a foreign company in Yanbu.

Oman Government Official, Two Executives Jailed, Fined On Corruption Charges

Over 20 government officials and private executives from Oman’s oil industry are accused of offering or accepting bribes in exchange for contracts.

Saudi British Bank Q4 Net Profit Jumps 20%, Beating Forecasts

SABB attributed its profit rise to higher operating income.

10 Hot Consumer Trends For 2014

Anders Lindblad, president of Ericsson Region Middle East, says our bodies will become our new passwords.

Kuwait Says Oil Mkt Balance Takes Precedence Over Price Issue

Kuwait’s oil minister Ali al-Omair said the OPEC member targets 3.5 million barrels per day capacity by 2015.

Volkswagen ME Reports 30% Rise In 2013

The German manufacturer sold almost 14,000 vehicles across the region last year.

Gulf Markets Seen Steady Following Early-Year Surge

Markets in the United Arab Emirates are closed on Sunday for a religious holiday.

Alcoa Pays $384m To Settle Alba Bribery Charges

Criminal and civil allegations claimed officials were bribed for years to accept the supply of raw materials from Alcoa.

Uncertainty Over Future Running Of Abu Dhabi’s Big Oilfields

A 75-year partnership with ExxonMobil, Royal Dutch Shell, Total and BP expired on Friday.

25m Euro Gulf Investment In Irish Companies Announced

The Gulf Trade Mission was led by the Irish prime minister Enda Kenny.

Rolls-Royce Middle East Up 17% – Another Record Year

Torsten Müller-Ötvös, CEO, praises Middle East dealers and the region’s discerning customers.

Saudi Arabia Raises December Oil Output Slightly, Pumps 9.8m bpd

The Kingdom kept production in November at steady levels from October when it cut output.

Irish Firm Launches Healthcare Project In The UAE

Broadmeadow Healthcare International will deliver elderly care services through partnerships with local government agencies.

Dubai Group Appoints Former Emirates NBD Banker As CEO

Ahmed al-Qassim was a director of investment banking at Emirates NBD.

4DX Cinema Launches In The UAE

VOX Cinemas has launched 4DX enabled sensory cinemas at Mirdif City Centre and Deira City Centre.

Qantas Credit Rating Slashed By Moody’s

Dubai-linked airline recently announced the loss of 1,000 jobs.

Dubai’s Victory Heights Project Completed

Victory Heights handed over 75 per cent of its phase one villas in 2010 as Dubai recovered from a property crash.

EFG Hermes Approves $144m Share Buyback Plan

The Egyptian bank’s shares rose almost 10 per cent after the announcement of the plan.

First Look: Dubai Marriott Hotel Al Jaddaf

Marriott’s latest Dubai property has short-stay executives and long-stay contract workers firmly in its sights

Bahrain Suspends Reconciliation Talks With Opposition Groups

The breakdown raises the prospect of more political instability in the country.

Just Falafel Plans 160 New Restaurants In US, Canada

The UAE restaurant chain has signed five area franchise agreements with different partners across North America.

Saudi Hospital Group To Build Hospital, University In Dubai

The 300-bed hospital university project is expected to offer 4,000 new jobs and will target the residents of Dubai Silicon Oasis.

Saudi Hollandi Bank Q4 Net Profit 347.3m Riyals

The bank’s net profit for the quarter was boosted by a 22 per cent jump in total operating income to 671.1 million riyals.

UAE Takes Charge Of ADCO Oilfields

A current deal with ExxonMobil, Royal Dutch Shell, Total and BP expires on January 11.

Emirate Of Sharjah Raises Profile With Sovereign Credit Rating

Moody’s assigned an A3 government bond rating to the Sharjah government on Wednesday, while Standard & Poor’s rated it A.

Kuwait’s Agility Appoints Tarek Sultan As CEO

Sultan, who was previously the chairman and managing director, will take up the position of deputy chairman.

Saudi’s Riyad Bank Posts 27.2% Q4 Net Profit Jump

Saudi Arabia’s third-largest lender by assets saw Q4 profit grow as income rose and expenses declined.

Oman’s Household Income Rises 83.9% In A Decade

The Muscat governorate recorded the highest average household income of $3,789 per month.

Alitalia’s Chairman Likely To Stay On For Talks With Etihad

Roberto Colaninno said in October he would step down after a 300-million-euro capital increase, completed at the end of December.