Libyan Oil Exports All But Shut Off As Violence Spreads

Not a single crude oil tanker has departed Libya in the past week, industry sources say.

Deposed Egyptian President Mursi To Face Military Court

Mursi, who has been incarcerated in an Egyptian jail, is facing trial in several cases in civilian courts.

Bahrain Launches Criminal Investigation Against Main Opposition Group

The Interior Ministry accuse the al-Wefaq group of trying to undermine national security.

Dubai’s Damac Awards Contracts Worth Dhs1.2bn In 2015

The developer said that it appointed five contractors to work on its master developments and hotel apartment projects.

Dubai’s Al Habtoor Turns Hollywood Producer, Eyes Egypt For Film Talent

The Dubai-based businessman confirmed that he is currently working on two Hollywood movies.

Oman’s Bank Dhofar Working With Two Advisers On Capital Plans

The lender said last month that it was mulling options for raising up to $300 million of capital at the earliest opportunity.

Aldar Leases Out 90% Of Burj Mohammed Bin Rashid Project

The tower is also the tallest building in Abu Dhabi and is named after Dubai’s ruler Sheikh Mohammed bin Rashid Al Maktoum.

Oil Rises To $62, Close To 2015 High

Brent has jumped by almost 40 per cent in the last four weeks, supported by a sharp fall in U.S. oil drilling.

UAE’s JadoPado Expands, Sees Local E-Commerce Hit $12bn By 2018

The online retailer has expanded into a marketplace, and will host sellers from around the world.

Egypt’s Sisi Urges UN Mandate For Libya Coalition

Egypt’s jets bombed ISIL targets in Libya after the group beheaded 21 Coptic Christians earlier this week.

Japan To Provide $15.5m In Middle East-Africa Counter-Terrorism Aid

ISIL said they would target Japanese citizens after the Asian country pledged $200 million in humanitarian aid to countries fighting the group.

Dubai’s DEWA Posts 2014 Profit Rise, To Repay $1bn Bond In April

Dubai’s only utility also said it would distribute a cash dividend for the year of Dhs500 million to the government.

UAE, Saudi Arabia Control 74% Of GCC’s Private Wealth

Almost 44 per cent of the GCC’s private wealth is focused in Saudi Arabia, while the UAE controls around 30 per cent, a new study shows.

IEA’s Birol Says Middle East Militancy Poses “Major Challenge” For Oil

Security challenges created by groups such as ISIL are impacting oil investments, which will affect future production, an expert said.

UK Businessman Takes Emirates To Court Over Lost Luggage

Abrar Khan claimed the airline refused to compensate him after losing his luggage en-route to Dubai.

Oil Prices Rise Further But Analysts Expect Downward Correction

Analysts said that downward pressure may come from the refined products market in the next quarter.

Five Minutes With.. Salwa Hachem Mahfouz, Co-CEO, Fashion & Beyond

Salwa Hachem Mahfouz, Co-CEO of Fashion & Beyond, discusses her plans for bringing Brazilian swimwear brand Liquido to the region in the build up to the Dubai launch later this month.

UAE Says Its Jets Target Oil Refineries Under ISIL

The strikes were aimed at cutting off their main sources of funding, state news agency WAM said.

GCC Sees Construction Projects Worth $67.6bn Completed In 2014

Around 42 per cent of the completed projects were residential buildings while 16.9 per cent were commercial buildings, a new study shows.

Etisalat’s Egypt Unit Signs $120m Loan

HSBC and National Bank of Abu Dhabi, will each provide $60 million each to Etisalat Misr.

Kuwait To Boost Drilling Rigs, Crude Capacity Despite Low Oil Price

The Gulf state plans to deploy 120 oil and gas rigs by the start of next year, up from 80 rigs now.

UAE Banks’ Profit Growth To Dip On Weaker Economy, Asset Quality -S&P

Sector-wide profit growth this year is expected to drop to five or six per cent from 22 per cent in 2014.

UAE Calls Egyptian Hostage Killings By ISIL “An Ugly Crime”

The UAE’s president and other leaders condemned the killings and affirmed their support to Egypt in rooting out such radical groups.

Bahrain’s Batelco Q4 Net Profit Rises 22%

The former monopoly has now posted rising profits in four of the past six quarters.

Orascom Construction To List On Nasdaq Dubai, Egyptian Exchange

The listing followed a demerger of OCI NV’s engineering and construction business from its fertilizer and chemicals business.

Emirates Introducing A380 On Milan-New York Route

The service will begin from June 1, and raise superjumbo capacity between Dubai and Milan.

Hospitals on Alert As Saudi Arabia Finds Six New MERS Cases

Two people have died after being affected with MERS over the last two days, prompting fresh health warnings to prevent an outbreak.

Oil Steadies Around $61, Kuwait Sees Prices Supported

The price of Brent crude has increased by more than 30 per cent in the last four weeks.

Abu Dhabi’s NMC Health Says Signs $825m Loan Facility

The facility is divided into two tranches and will be used to refinance existing debts of NMC and to fund its acquisitions.

Kuwait Oil Minister Says He Expects Price Rally To Continue

Omair said the current market surplus was less than 1.8 million barrels per day.