Iran May Join TANAP Gas Pipeline Project

The Trans Anatolian Pipeline (TANAP) will carry carrying 16 billion cubic metres (bcm) of gas a year from Azerbaijan’s Shah Deniz II field in the Caspian Sea to European markets.

Marriott Boss Plays Down Mega Deal With Starwood

The senior official did not completely rule out the idea of a takeover saying there are “constantly deals in our industry”.

US Regulator Sues Two UAE Traders For Allegedly Spoofing Gold Futures

Both individuals are traders of CME Group Inc’s gold and silver futures contracts on its Comex exchange in New York.

UAE’s ADNOC Adds Upper Zakum Crude Delivery Point As Output Grows

The OPEC producer began storing the medium-sour crude onboard Aframax tanker Abu Dhabi III in mid-April, the sources said.

Qatar Airways’ Al Baker Says Will Need Two Years To Rebutt “Fictitious” Subsidy Claims

The airline chief also denied that its recent US route expansion was part of a reprisal to American carriers calling for a freeze to flights by Gulf airlines to the US.

Saudi Shipper Bahri Hopes To Issue Sukuk This Quarter

Bahri had previously said it planned to make the issue by the end of March this year and that the tenor would be 10 years.

Saudi’s Khodari Expects Government Compensation For Labour Fees

In 2012, the Saudi goverment introduced a levy of 2,400 riyals ($640) a year for every foreigner whom a company employs above the number of its Saudi workers.

Saudi’s Khodari Expects Government Compensation For Labour Fees

Partly because of higher labour costs, Khodari’s net profit tumbled 57 per cent from a year earlier to $3.7 million in the first quarter of this year.

Oil Hits Fresh 2015 High On Weaker Dollar, Libya Supply Woes

Brent crude jumped 76 cents to $68.28 a barrel by 0603 GMT, after earlier hitting a 2015 peak of $68.53.

Warplanes Strike Yemen’s Saada And Hajja Provinces-Residents

The strikes occurred after Yemen’s Houthi fighters fired mortar bombs and rockets at a Saudi Arabian border town on Tuesday.

Dubai’s Arabtec Names New Chairman

Abu Dhabi businessman Mohamed Thani Murshed Ghannam al-Rumaithi was elected as the new chairman.

Saudi Oil Minister Naimi Optimistic About Kingdom’s Oil Future

The minister said that he saw a bright future for education, training, development and manufacturing in the Kingdom.

OPEC+meeting

OPEC Policy Rollover Likely In June As Oil Rebounds -Delegates

While the June meeting in Vienna is likely to hear demands from some members for a reduction in the amount of oil pumped, a curb is largely unlikely.

Houthi Missiles Hit Saudi Border Town; Airforce To Retaliate

The projectiles struck a girls’ school and a hospital in Najran, which is only two miles from Yemen’s border, officials said.

SAP CEO Dismisses Acquisition Of “Commoditised” SalesForce.com

Bill McDermott said the company had “zero interest” in Salesforce.com.

Saudi’s Riyad Bank Plans Capital-boosting Bond Issue

Saudi Arabia’s fourth-largest lender by assets, plans to issue 4 billion riyals ($1.07 billion) of bonds.

SALIC-Bunge JV To Compete In Saudi Wheat Tenders

The tenders attract major traders including Louis Dreyfus, Noble, Glencore and ADM.

Sharjah Launches Dhs80m Leisure Island Project To Attract Tourists

The island will consist of a Butterfly House, a literature pavilion and art sculptures, the emirate’s agency said in a statement.

Jordan Q1 Tourism Income Falls 11.9% As Westerners Stay Away

Jordan shares frontiers with Iraq and Syria, where ISIL has seized swathes of territory.

Emirates Vows “Sledgehammer” Reply To Subsidy Allegations

Three American airlines alleged in January that Emirates, Etihad Airways and Qatar Airways received more $40 billion in state subsidies in the last decade.

Saudi Privatisation May Accelerate, Says Tadawul CEO

Adel al-Ghamdi said he believed 10 companies might be possible candidates for privatisation

Abu Dhabi Fluorides Plant Eyes Demand From Gulf Aluminium Smelters

Commercial production has begun at the 1.5 billion dirham ($410 million) newly-built facility.

Officials Call For Open Skies Policy, Single GCC Visa To Improve Regional Tourism

With parts of Middle East in turmoil, industry officials look optimistically at intra-regional tourism.

Dubai’s DP World To Start Benchmark USD Bond Meetings Thursday

Sources told Reuters last month that the firm could raise between $750 million and $1 billion from the senior unsecured Reg S/Rule 144A issue.

India To Sign Port Deal With Iran, Ignoring US Warnings

India and Iran agreed in 2003 to develop a port at Chabahar on the Gulf of Oman, but the venture has made little progress because of Western sanctions on Iran.

Saudi Aramco In Negotiation To Buy 1.7 Million Barrells Gasoil For May

The spot requirement comes even after the country added 800,000 barrels per day (bpd) of capacity in two new refineries over the last two years.

Dubai Airport Passenger Traffic Up 7.25% Y-o-Y In March

Dubai Airports also said construction would begin later this year on expansion of the passenger terminal at Dubai World Central.

Saudi Hardware Retailer SACO’s IPO Meets Strong Demand

SACO, a popular supplier of building tools and mechanical equipment in the kingdom, offered 2.88 million shares to individual investors.

UAE’s Dana Gas Q1 Profit Tumbles 73% On Lower Oil Prices

The firm made a net profit of $12 million in the three months to March 31, down from $45 million in the prior-year period.

Brent Crude Slips Towards $66 On Saudi Plan To Halt Yemen Bombing

A stronger US dollar also weighed on the dollar-denominated commodity.