Saudi’s Advanced Petrochemical To Shut Production For Maintenance

The plant in Jubail will go offline on March 1, the company said in a bourse statement,

Egypt Court Releases Two Al Jazeera Journalists But Case Not Dismissed

Fahmy, who is a naturalised Canadian citizen, was released on bail of $32,765 while Mohamed was released without bail.

Kuwait Halts All Oil Exports Due To Bad Weather – KNPC

The suspension will remain until further notice when the weather conditions improve, a spokesman said.

Pay TV Network OSN To Launch WWE Channel In The Middle East

OSN has signed a five-year partnership with the wrestling network to distribute it as a premier channel in the MENA region.

Dubai Parks & Resorts Projects Revenues Worth Dhs2.4bn In First Year

The company said that its revenues will mainly originate through ticketing, hotels and retail segments in the project.

Qatar’s Ooredoo Seeks $500m Islamic Loan-Bankers

The company has asked lenders to provide pricing guidance for a one, three or five-year loan.

Emirates’ Sheikh Ahmed Challenges US Airlines To Reclaim Marketshare

The airline chief said that the US carriers underestimated the level of competition when they signed the open skies policy in 1999.

Kuwait Signs April 2015 To March 2016 Naphtha Deal At $8/T Premium

That marks the lowest term price for Kuwait Petroleum Corp since its December 2008 to November 2009 contract.

Stock News: Gulf Bourses Pull Back After Oil Tumbles

Brent oil is back around $55 per barrel after a loss of as much as three per cent on Wednesday.

Abu Dhabi’s Aldar Says Mega-Mall Revenue Will Help Cut Debt In 2015

The developer reported a 61 per cent jump in quarterly profit.

Saudi Hollandi Bank Proposes 20% Capital Hike To Support Growth

It plans to increase its capital to SAR5.72 billion from SAR4.76 billion by issuing one bonus share for every five held.

UAE Creates ‘CEO Of Innovation’ Post For Government Agencies

The move is expected to help the UAE become the world’s most innovative nation by 2021, said Deputy PM Sheikh Mansour.

Abu Dhabi’s Aldar Q4 Net Profit Rises 61%

The company’s annual profit was Dhs2.24 billion in 2014, almost flat compared to Dhs2.25 billion in 2013.

Saudi Oil Minister Discusses OPEC With Russian, Algerian Officials

Under Saudi guidance, OPEC decided last November not to cut output, allowing oil prices to plunge.

IMF Says Egypt’s Reforms Starting To Spur Turnaround In Economy

The IMF projected growth to reach 3.8 per cent in 2014/15 and to rise to five per cent over the medium term.

Dubai’s ENBD Raises A$450m Via Longest Kangaroo Bond From Middle East

ENBD raised A$400 million from its last kangaroo bond issue in April last year.

Online Food Delivery Firm Foodpanda Acquires UAE’s 24h.ae

Food delivery business 24h.ae, founded in 2011, will continue with the current management and team.

Danube Properties Begins Work On Dreamz And Glitz Projects

The company said that its Dreamz and Glitz projects are on track to be completed by 2016 and 2017 respectively.

Bahrain Puts Off Rights Activist’s Appeal Hearing To March 4

As founder of the Bahrain Center for Human Rights, Rajab took a leading role in demonstrations led by Bahrain’s Shi’ite Muslim community in 2011.

Investcorp Acquires Majority Stake In Turkish Mobile Tracking Firm

Arvento is the fourth acquisition Investcorp has made in Turkey after Namet, Orka Group, and Tiryaki Agro.

Qatar National Bank To Pay 60bps Margin For $3bn Loan

The deal is QNB’s biggest syndicated loan to date and proceeds will be used for general corporate purposes.

Dubai Named The Most Sustainable City In The Region

Dubai was ranked 33rd globally in a newly launched sustainability index, closely followed by Abu Dhabi at 34.

Embassies In Yemen Close As Thousands Protest Against Militia Rule

The US, France and Britain have shut down their embassies while Germany said that it will soon follow suit.

Filipino Nurse From Saudi Arabia Tests Positive For MERS Virus

A health official said that said that the female nurse was undergoing treatment at the Research Institute for Tropical Medicine.

Rocket Internet Buys Kuwait Food Delivery Service Talabat For $170m

Talabat operates in ME countries including Kuwait, Saudi and the UAE, cooperating with restaurants such as Burger King, KFC and Pizza Hut.

gender gap 2022

Sheikh Mohammed Forms New Council To Address Gender Gap

The new body aims to boost the UAE’s efforts to improve women’s role in the country and the economy.

Kuwait Finance House Rejects Investment Dar’s Debt-For-Assets Plan

KFH said it would take all legal measures available against Investment Dar to try to collect the debt it was owed.

Stalled EU-GCC Free Trade Agreement Should Be Passed – UK’s Mandelson

The GCC and the European Union have remained in a stalemate regarding the agreement for several years.

UAE’s Tabreed Says Reappoints Steve Ridlington As CFO

Ridlington, who was CFO from 2009 to 2011, will replace Adrian Kershaw, who will remain at Tabreed until the end of March.

Oman’s United Finance To Consider Merger Approach From Bank Nizwa

United Finance describes itself as Oman’s largest non-bank financial institution.