Bahrain’s Batelco Names Hinnawi Acting CEO After Whelan Departure

Ihab Hinnawi had been chief executive of Jordan’s Umniah, an operator which is 96 per cent owned by Batelco.

Dubai Crown Prince Sheikh Hamdan’s Twitter Followers Cross 1m

Sheikh Hamdan is now the second most followed leader in the UAE on Twitter after Dubai’s Ruler Sheikh Mohammed bin Rashid Al Maktoum.

Saudi Ma’aden Restarts Ammonia Plant After Maintenance

Ma’aden shut the facility in Ras Al Khair from January 23 for about 30 days.

Qatar-Japan Consortium To Study Projects In Turkey’s Afsin Elbistan

The grouping will evaluate projects in the Turkish region including the development of lignite power plants.

Louis Berger JV Bags $79m Project Management Deal For Doha Metro

The contract involves providing management consultancy services for all elevated and at-grade sections of the metro project.

Cheap Oil Cuts Kuwait Nine-Month Budget Surplus 26% – NBK

If Brent crude stays at its current level of around $60 a barrel in the coming year, some believe Kuwait could run a budget deficit.

Kuwait’s KIPCO Q4 Net Profit Gains 2%, Raises Cash Dividend

Net profit in the three months to Dec. 31 was KD14.3 million.

UAE’s Arabtec Wins $253m Of Saudi Oil And Gas Work

The projects include upgrading liquefied gas and refinery facilities for national oil firm Saudi Aramco, the company said.

Ten Workers Killed In Abu Dhabi Building Fire

The blaze gutted the two-storey building, which contained seven shops on the ground floor.

UN Team Investigates Saudi Surge In Cases Of Deadly MERS Virus

The virus has infected close to a thousand people, killing some 360 of them – the vast majority in Saudi Arabia.

Kuwait’s Agility Plans Up To $100m Africa Spend In 2015

Target markets include Ghana, Mozambique, Angola and Nigeria, as they are benefiting from blossoming oil and gas sectors.

Emirates Hires Banks For UK-Guaranteed Sukuk Of Up To $1bn

Sources said the deal could close by the end of the first quarter.

Rent Vs Buy: The Rapid Rise Of The Aviation Leasing Market

An industry veteran gives his insights into the little discussed aviation leasing market.

Kuwait’s Investment Dar Confident About Debt-For-Assets Deal

Its original debt deal was signed in 2011 and covered around KD1 billion.

UAE Named Second Largest Market For M-commerce

Almost 57 per cent of online shoppers in the UAE made a purchase via a smartphone in the last 12 months, a new study says.

Oman’s Bank Nizwa Aims For 2015 Merger With United Finance Co

The potential deal is the latest sign of consolidation after the start of merger talks in 2013 between Bank Dhofar and Bank Sohar.

ADCB To Meet Investors From Monday For Potential USD Bond

Abu Dhabi Commercial Bank (ADCB) will meet investors in Europe, it said.

Oil Falls Sharply After US Crude Inventories Rise

Brent crude oil prices slipped below $59 a barrel on Thursday.

Dubai’s Arqaam Capital Sounds Out Advisers Ahead Of Flotation

Arqaam has offices in five countries in the MEA and offers brokerage, asset management and corporate finance advisory services.

Gulf Carriers Hit Back At Delta CEO’s 9/11 Comments

Emirates’ Tim Clark, Qatar Airways Akbar Al Baker and US-UAE Business Council President Danny Sebright are among those who responded to the comments.

Stock News: Saudi Arabia Down, Egypt Firms As Oil Slides

Brent oil traded below $59 per barrel as U.S. crude inventories were expected to hit record highs.

Orascom Construction To Raise Up To $241m In Egypt Share Offer

The company plans to offer up to 15.8 million new shares representing 15 per cent of its ordinary share capital.

Dubai Parks And Resorts Appoints Seven-Member Management Team

The new senior managers are expected to help the Dhs10 billion project open as scheduled in 2016.

Air Arabia To Begin Flights From Ras Al Khaimah To Qatar

The airline will fly four times per week to Doha, bringing the total number of destinations from its Ras Al Khaimah hub to nine.

Qatar’s Nakilat Q4 Profit Rises 14%

Nakilat made a profit of QAR201.6 million in the last quarter of 2014, up from QAR176.5 million a year earlier.

Dubai’s Ruler Launches New Projects Featuring Snow Fountain, Vertical Gardens

The new projects will be developed by the Wasl Asset Management Group across Dubai.

UAE Telco Du Q4 Net Profit Falls 10%

The firm made a net profit of Dhs512.7 million in the last quarter of 2014, down from Dhs570.3 million in the year-earlier period.

Qatar Recalls Ambassador To Egypt Amid Dispute Over Libya Air Strikes

Doha expressed reservation at Egypt’s unilateral decision to carry out air raids in Libya without consultations with other Arab states.

YouTube To Launch Paid Music Service In A Few Months

The beta version of the service is currently being tested and is available by invitation.

Saudi Arabia’s Oil Output Rising, At About 10m

The estimate suggested the country is hewing tightly to the strategy of protecting market share rather than cutting production to try to inflate prices.