Dubai’s DP World Expected To Issue $500m Five-Year Bond

Barclays, Citigroup, Deutsche Bank, Emirates NBD Capital, HSBC, National Bank of Abu Dhabi and Societe Generale are arrangers for the bond issue.

China Overtakes US To Become World’s Top Crude Oil Buyer

China’s crude oil imports hit a record of almost 7.4 million barrels a day last month.

Moroccan F-16 jet From Saudi-Led Coalition In Yemen Goes Missing

The pilot of a second jet in the same squadron could not see if the pilot had ejected from the jet.

UAE Passport Moves Up In Global Index Ranking After EU Visa Waiver

UAE nationals can now travel to 104 countries, pushing the country’s ranking on Arton Capital’s Passport Index to 31.

National Bank Of Oman Says Plans Tier 1, Tier 2 Instruments

The bank’s board has approved the issuance of a Tier 2 instrument worth up to $900 million and a $300 million Tier 1 capital increase.

Owner Of Oman’s Largest Power Plant Begins $146m Flotation

Subscription for the initial public offering, which is open to both local and international investors, will run until June 8.

Saudi King Sending Crown Prince To Summit With US President Obama

The summit coincides with the start of a five-day humanitarian truce in Yemen.

Sales At Kingdom Tower, Set To Be World’s New Tallest Building, To Start In 2015

Once completed in 2018, the $1.2 billion Kingdom Tower will be over one kilometre high.

Oman Oil Co To Restructure, Privatise Some Units

With the new structure, the company said it will be focusing more on Duqm and managing its international assets.

Top Egypt Medical Firm Sees London IPO 11 Times Oversubscribed

Integrated Diagnostics Holdings priced its offering of 65.2 million shares at an $4.45 per ordinary share.

UAE’s Air Arabia Q1 Net Profit Up 9%, Misses Estimates

The airline carried 1.8 million passengers in the first quarter of 2015, up 10 per cent year-on-year.

Bahrain’s Al Baraka Q1 Net Attributable Profit Rises 9%

The bank made a net profit attributable to equity holders of $40 million in the three months ending March 31.

Different Arab money

With Oil Prices Low, GCC States Agree To Push Value-Added Tax Plan

However, officials did not give any time frame for VAT to be introduced or specify the likely tax rate.

Etihad Flight From Cairo To Abu Dhabi Diverted To Dubai For Security Reasons

Flight EY650, an Airbus A321, was carrying 128 passengers and seven crew from Cairo to Abu Dhabi.

Dubai Parks And Resorts Says 42% Of Project Infrastructure Completed

The theme park operator also said that it spent almost Dhs3 billion on the project in Q1 2015.

Abu Dhabi’s Aldar Launches Plots For Sale At Nareel Island

The Nareel development, designed for Emiratis, consists of two islands comprising 148 villa plots.

CEO of Saudi’s Al Rajhi Bank Resigns, New Head Appointed

Steve Bertamini has been appointed chief executive effective from May 18, the lender said in a bourse statement.

Dubai Metro Red Line Construction To Begin By Q1 2016

The contract for the project will be awarded on January 28, 2016, a senior RTA official said.

Houthis Accept Five-Day Truce In Yemen Proposed By Saudi Arabia

A statement issued by the Houthis also asked for a political dialogue under the auspices of the United Nations to resume in order to resolve the conflict.

One Policeman Shot Dead In Saudi Capital

Policeman Maged al-Ghamdy was patrolling the area at 7:30 p.m. local time when he was shot from an unidentified car, the official news agency said.

Obama, Saudi King Salman To Meet At White House Before Summit Next Week

Both leaders will “build on their close consultations on a wide range of regional and bilateral issues,” White House spokesman said.

US, Gulf Allies Seek Agreement On New Security Measures -Kerry

The Obama administration faces a formidable challenge to allay Gulf Arab fears over a nuclear deal with Tehran.

MSCI To Launch Saudi Arabia, GCC Indexes On June 1

So far, MSCI only had provisional indexes covering the $570 billion Saudi stock market, which is set to open to foreign investors in June.

Saudi-Led Strikes In Yemen Break International Law – UN

Scores of civilians were reportedly killed and thousands forced to flee their homes after the coalition declared the entire governorate a military target.

Abu Dhabi’s Property Market: Stable And Slowing

The emirate’s real estate is expected to stabilise this year, but the negative impact of lower oil prices could be felt in the longer term.

Gulf Countries Scramble To Generate More Power As Consumption Surges

The new oil paradigm and what it means for GCC’s power generation sector.

Phone Review: HTC One M9

The M9 is a good-looking phone that can compete with the very best in interface.

Former Emirates Vice Chairman, Sir Maurice Flanagan, Passes Away

A founding member of the Emirates group, Flanagan passed away at his home in the UK.

Low Oil Prices, Weak Euro Impact Middle East Hotel Revenues

The decline in the number of tourists, especially from Russia, has pushed down the revenue per available room across the hotels in the Middle East.

Saudi Arabia To Build Planes With Ukraine’s Antonov

The state-backed King Abdulaziz City for Science and Technology said it had signed an agreement with Antonov to produce the AN-32 aircraft.