Abu Dhabi’s Aldar To Spend $1.08bn In Short-Term On Projects -CFO

Aldar is working on 23 development projects in Abu Dhabi and is focused on completion of existing projects, CFO Greg Fewer said.

Bombs Explode Near Egyptian, UAE Embassies In Libyan Capital

There were no immediate details of whether embassies were the target of the bombs or whether any staff or security guards were in the buildings at the time.

Samsung Electronics Chases Curved Smartphone Wave To Beat Flat-Screen Crowd

Profits from new handsets will depend on their cost-effective production and the company’s success in coaxing developers to tailor applications for the new format.

Stock News: Earnings Lift Abu Dhabi; Dubai Slips

Abu Dhabi’s index climbed 0.1 per cent while Dubai’s bourse edged down 0.3 per cent.

Abu Dhabi To Charge Citizens For Water Use, Hikes Tariffs For Residents

The emirate, which provided water for free to UAE citizens, will charge a fee of Dhs1.7 per 1,000 litres for Emiratis from next year.

Dubai’s DP World To Buy Economic Zones World For $2.6bn

The purchase of EZW, currently owned by Port and Free Zone World, includes the assumption of net debt of $859 million.

Abu Dhabi’s Aldar Properties Q3 Net Profit Up 41%, Beats Estimates

Aldar made a profit of Dhs584 million ($159 million) in the third quarter of 2014, compared with Dhs413 million in the corresponding period in 2013.

Saudi Arabia To Double Natgas Output By 2030, No Exports Planned

Saudi Arabia will use the extra output to meet its own rising energy demands, including both power generation and water desalination.

Saudi’s Naimi Rejects Oil Price War Talk, Seeks Only Stability

Saudi Arabia’s oil minister said that the Kingdom wanted to work “with other producers to ensure price stability for the interest of producers, consumers and the industry at large”.

EmiratesLNG To Start Operations Mid-2018 – CEO

Once complete, the terminal will be capable of supplying an average of 1.2 billion standard cubic feet (bcf) of natural gas per day to the UAE.

Kuwait Economy Grew Last Year, Stats Office Says, Contradicting IMF

The widely differing numbers underline the difficulty of finding reliable economic statistics in the Gulf, where many governments have not developed extensive systems for collecting data.

Kuwait’s Agility Q3 Net Profit Rises 8%

The firm made a profit of KD13.04 million ($44.8 million) in the third quarter of 2014.

Saudi Oil Output Steady; OPEC Sees Lower 2015 Demand For Its Oil

In a monthly report , OPEC forecasted that demand for the group’s oil will drop to 29.20 million barrels per day (bpd) next year — almost one million bpd less than its current levels.

EU To Approve Etihad’s 49% Buy Of Alitalia -Sources

The sources said the EU antitrust authority had accepted the airlines’ offer to give up some airport slots on the Rome-Belgrade route to facilitate rivals.

Dubai Developer Damac To Focus On Gulf As Q3 Profit Jumps

The property firm said that it will focus on countries such as Saudi Arabia while avoiding conflict-prone states such as Egypt and Syria.

Kuwait’s Americana Posts 33.6% Q3 Net Profit Jump

The firm made KD10.9 million ($37.45 million) in the third quarter of 2014.

Al Etihad Credit Bureau Begins Issuing Credit Data To Individuals

UAE residents and citizens can now obtain their credit reports from the Al Etihad Credit Bureau’s website or customer service centres for a nominal fee.

Emirates Airline Profit Rises 8% In Half Year

High passenger loads shield airline from external factors but group profit impacted by dnata

Iran Oil Minister Meets Kuwait Emir On Weak Oil Prices

Iran’s oil minister Bijan Namdar Zangeneh discussed the developments in the oil market with Kuwait’s emir, the Iranian news agency reported.

Lamprell Gets $365m Rig Contract From Abu Dhabi’s NDC

Lamprell’s shares rose as much as 5.8 per cent to 150.25 pence in morning trade, following the announcement.

Dubai Lender ENBD Launches $1bn Bond At Tight End Of Guidance

Pricing of the bond tightened on high investor demand, with orders topping $3 billion, according to the arrangers.

Kuwait 6-Month Budget Surplus At $31bn, Spending Behind Plan

The major oil exporter’s public spending was 6.12 billion dinars in April-September, below 11.61 billion dinars originally planned for the period.

Shares In Biggest Saudi Bank Jump 10% On Listing

The state-owned bank revealed that the portion for retail investors was 23 times subscribed, with a total of 1.25 million subscribers.

Abu Dhabi’s TAQA Q3 Net Profit Falls 27%

The firm cited a higher effective tax rate for the decrease in profit.

UAE’s Dana Gas Q3 Profit Rises 36%

The company received $71 million in cash from operations and cash collections in the third quarter.

Bahrain’s Gulf Finance House Swings To Q3 Profit

The firm suffered $3.2 million loss in the same period last year.

Qatar Emir Issues Summit Invite Amid Strains Over Islamists

Diplomats say preparations for the annual gathering of the GCC have become indicative of an unprecedented rift between Gulf Arab states over Doha’s backing of Islamists.

OPEC Delegates Start Whispering About Potential Oil Cut

International oil prices have fallen by around 30 per cent since June, as fast-rising U.S. shale production has contributed to growing supplies.

Aluminium Bahrain Q3 Profit Jumps 502%

The smelter made a third-quarter net profit of BD29.5 million ($78.25 million) in the three months to Sept. 30, up from BD4.9 million in the year-ago period.

Abu Dhabi’s Aabar Lifts Arabtec Stake To 34.9%

The trade, which made Aabar the biggest shareholder in Arabtec, was done at a price of Dhs5 per share, compared to the stock’s closing market price of Dhs4.26.