Alibaba’s Cloud Computing Unit To Establish Base In Dubai

Alibaba’s subsidiary Aliyun will set up a venture with Dubai-based Meraas.

Saudi Foreign Minister Says US-GCC Summit To Focus On “Aggressive” Iran

Adel al-Jubeir said the summit would focus on conflicts in Syria and Iraq and also on the fighting in Yemen.

Dubai’s DP World Launches $500m, Five Year Bond

The transaction has received orders of seven times its size, an earlier document showed.

Kuwait Telco Zain Q1 Profit Falls 26.7%

The firm had posted falling profits in eight of the preceding 10 quarters.

Japan’s Cosmo Oil, Spanish Firm Cepsa In Talks For New Abu Dhabi Oilfield Stake

Abu Dhabi’s International Petroleum Investment (IPIC) owns all of Cepsa and is the biggest shareholder in Cosmo.

Bahrain’s Ahli United Bank Q1 Net Profit Rises 7.8%

The bank’s net profit for the three months to March 31 was $147.18 million.

Saudi, Alcoa Aluminium Smelter Production To Top Initial Target This Year

Ma’aden, the Gulf’s largest miner, is currently exporting around 70 to 80 per cent of the smelter’s production.

Emirates Global Aluminium Says Exports To Fall As Local Demand Grows

The company produces about 2.4 million tonnes of aluminium products per year.

Fresh Earthquake Kills Scores In Nepal And India

Atleast 66 have been killed by the 7.3 magnitude quake, which was centred close to Nepal’s border with Tibet.

Huawei Launches Honor Six Plus Smartphone In Middle East

The Honor Six Plus is targeted at a younger internet-savvy demographic.

Saudi Aramco Reiterates It Will Spend To Retain Leading Oil Position

The oil giant has completed a massive investment programme which took its output capacity up to 12 million bpd.

Saudi-Led Air Strikes Hit Yemen Capital Hours Before Ceasefire

Residents said three air strikes hit a base for army units loyal to the Houthis in the north of the capital.

Abu Dhabi’s Image Nation To Finance Tom Hanks Thriller, The Circle

The movie has been written and will be directed by James Ponsoldt, and will start shooting in August 2015.

Aluminium Bahrain CEO Optimistic About $2.5bn Expansion Approval In 2015

The plan will make Alba the largest single-site aluminium smelter in the world.

Saudi Arabia’s April Crude Output Hits Record High

The Kingdom pumped 10.308 million barrels of oil per day in April, compared to 10.29 million bpd in March.

Emirates Adds Third Daily Flight To Beirut

The additional service will increase Emirates’ total number of weekly flights serving Lebanon to 21.

Saudi Aramco Discovered Eight New Oil And Gas Fields In 2014

The company did not give figures on estimated reserves or production rates for the new fields.

King’s Absence From US Summit Shows Saudi Displeasure Over Iran Push

Analysts and diplomats in the Middle East described King Salman’s decision to skip the meeting at Camp David this week as a snub.

Al Jazeera Journalist Under Trial In Egypt Sues Employer For Negligence

Mohamed Fahmy spent more than 400 days in an Egyptian jail on charges of aiding a terrorist organisation.

Saudi Market Regulator Studying REIT Listing Rules

If introduced in the Kingdom, REITs would offer tax benefits, especially for foreign investors.

Saudi King Salman Phoned Obama, Discussed Summit, Yemen

King Salman has nominated Crown Prince Mohammed bin Nayef to attend the summit in Washington and Camp David, Maryland.

OPEC Expects Oil Prices To Be About $76 A Barrel In 2025

Oil slipped towards $65 a barrel on Monday as signs that U.S. shale oil production was recovering.

New Dubai Expo 2020 Logo To Be Unveiled On October 20

The new logo design will be selected from 18,000 entries received during a public competition.

Moroccan F-16 Jet From Saudi-Led Coalition Crashes In Yemen

Yemen’s Houthi militia said tribesmen shot down the aircraft.

Dubai Properties Launches Arabella Townhouses In Mudon Project

Sales of the three and four bedroom townhouses will begin on May 16.

Oman Plans Private Placement For Debut OMR200m Sukuk

The committee arranging the issue said it had received in-principle regulatory approval and was now in advanced stages of structuring and documentation.

Saudi, Kuwait To Shut Joint Oilfield For Two Weeks

Total production from the Wafra onshore oilfield is around 190,000 barrels per day.

UAE Announces Holiday For Isra’a Wal Miraj On May 16

Private sector employees who have a holiday on Saturday will not be given a compensatory day-off.

Heavy Bombing On Yemen Border Area By Saudi Forces And Houthis

Saudi Arabia has offered a five-day ceasefire starting on Tuesday evening to allow delivery of humanitarian supplies into the country.

Saudi’s Alkhabeer Capital Targets Islamic Endowment Business

The firm has launched an advisory service for structuring and managing the assets of the Islamic charitable foundations known as awqaf.