Saudi Investment Firm Jadwa Eyes Real Estate Push

Jadwa plans to partner with real estate developers in Saudi to select and execute projects on behalf of clients.

Saudi’s Advanced Petrochemical Sells SAR1bn Debut Sukuk

The five-year offering received investor orders worth SAR2.43 billion.

Qatar 2022 World Cup: Whistleblower Says FIFA Report Violated Confidentiality

Former Qatar bid employee Phaedra Almajid said the report violated public “assurances of confidentiality” from FIFA.

Kuwait’s Investment Dar, CBK, Skirmish Over Boubyan Bank Stake

Investment Dar has been embroiled in litigation over a stake in Boubyan Bank, which it sold to Commercial Bank of Kuwait in 2008.

Gulf Cup: UAE Draw With Kuwait After First Half Thriller

Kuwait next play Oman while the UAE face Iraq in a repeat of last year’s final which they won 2-1 after extra time.

FIFA Ethics Chiefs To Meet On Thursday Over Report On Qatar 2022 World Cup

Hans-Joachim Eckert will meet investigator Michael Garcia to discuss their differences over the probe.

Big UAE Banks Shun Credit Bureau Over Liability Dispute

The recently-opened Al Etihad Credit Bureau collates bank data on people’s credit histories.

DEWA Inks Deal With ABB To Develop Solar Power Project

The project will be connected to DEWA’s grid through a low-voltage distribution board while also being used as a learning tool for the deployment of solar PV rooftop installations in Dubai.

Nearly 36m People Are Slaves, Qatar In Focus: Global Index

The index defined slavery as the control of people in such a way as to deprive them of their freedom with the intention of exploiting them for profit or sex, usually through violence, coercion or deception.

Bahrain’s Mumtalakat Sets Initial Price Guidance For Up-To-$600m Sukuk

The firm has set initial price thoughts in the area of 237.5 basis points over midswaps for the sukuk, which is expected to price on Tuesday.

Saudi Central Bank Says Expects Relatively Stable Inflation Rates In Q4

Inflation in the OPEC member, which pegs its riyal currency to the dollar, eased to an annual 2.6 per cent in October from 2.8 per cent in the previous month.

Housing And Education Costs Reduce Dubai’s Tax Free Benefits- Study

Dubai’s tax-free benefit strategy is becoming eclipsed by the rising costs of housing and education, a new study says.

Picking Qatar To Host 2022 World Cup “Ludicrous Decision” – Ex-FA Head

David Bernstein said the Gulf state is a “totally unsuitable place” to hold a World Cup.

Saudis To Open Stock Market To Foreigners Before April

The Capital Market Authority previously said that the Saudi market will open to direct investment sometime in the first half of 2015.

Kuwait To Let Banks Trade Derivatives, Forex Forwards Move

The central bank had sent a notice to all treasury managers informing them that it no longer objects to Kuwaiti banks dealing in derivatives with foreign banks if they are in line with the regulations.

Dubai Parks and Resorts Launches Dhs2.5bn IPO On DFM

The Dubai-based theme park developer is offering 40 per cent of its shares to investors, with each share priced at Dhs1.

Bahraini Fund Mumtalakat To Price Benchmark-Sized Sukuk On Tuesday

Price indications have yet to be confirmed, the document said on Monday.

Islamist Group Rejects UAE Terrorism Designation

The International Union of Muslim Scholars urged the UAE to remove it from a list of 85 banned groups that the country had named this week.

No Direct Impact On Saudi Budget From Oil Slide – Minister

With the price of Brent crude oil now below $80 a barrel, down from around $115 in June, the Saudi government may post a budget deficit next year.

Qatar Says Will Reform Kafala Sponsorship Law By 2015

Qatar’s labour and social affairs ministry said that it is currently reviewing new labour laws but did not provide any details.

Islamist Group Rejects UAE Terrorism Designation

The UAE recently published a list of 85 groups that it labelled as terrorist organisations in a drive against “terrorist crimes”.

UAE Central Bank Governor Says Bank Lending Within Prudential Ratios

The loan book on a gross basis has risen about eight per cent during nine months of this year.

Five Minutes With.. Nguyen Nguyen, GM, Trung Nguyen Franchising

Vietnam’s largest coffee grower is plotting 100 locations across MENA over the next 10 years, according to Nguyen Nguyen, general manager, Trung Nguyen Franchising Corporation.

India Urges Higher Pay For Millions Of Gulf Workers

The recommended minimum monthly salary has risen to SAR1,200 in Saudi, and to Dhs1,500 in the UAE.

Saudi Arabia, UAE And Bahrain End Rift With Qatar, Return Ambassadors

The three countries withdrew their ambassadors from Qatar in March, accusing it of undermining their domestic security.

Kuwait Cabinet Calls For Steps To Address Oil Price Slide

Benchmark brent crude dipped to a four-year low of under $80 per barrel last week, compared with a June high above $115.

Souq.com Plots MENA Black Friday Sales Weekend

MENA Online retailer looks to follow the success of behemoth Alibaba, which generated $9 billion worth of e-commerce sales during China’s recent Singles Day.

Kuwait To Sell Dow Chemical’s Petchem Venture Shares To Public -Exec

Dow Chemical announced last week that as part of a $7-$8.5 billion divestiture plan, it would reduce its equity positions in all of its Kuwaiti ventures.

Nakheel And Souq Residences Reach Agreement On Palm Jumeirah’s Golden Mile

The agreement ends a four-year legal row between Nakheel and IFA Hotels And Resorts, which prevented retailers from occupying spaces they paid for on the Palm Jumeirah’s retail strip.

Soft Opening For Four Seasons Resort Dubai

UAE’s first Four Seasons blends leisure and business around an ‘understated’ luxury theme