Saudi SABIC’s CEO Says Oil Price Decline Is Temporary

SABIC chief executive Mohamed al-Mady said that population growth will push up consumption and oil prices.

Stock News: Markets In UAE, Qatar Edge Up

Dubai’s index rose 1.8 per cent to 4,653 points as most stocks gained.

Aldar Says Gate and Arc Towers Projects Fully Leased Out

The Gate and Arc Towers development located in Shams Abu Dhabi are made up of 3533 units, of which Aldar retained over 1300 units as part of their recurring-income portfolio.

UAE Slams Human Rights Watch Report On Domestic Worker Abuse

The report drew “sweeping conclusions based on a small, unrepresentative sample,” says official.

Dubai’s RTA Completes 14km Long Jumeirah Corniche Project

The project features a walkway and jogging track running from the Dubai Marine Beach resort up to Burj Al Arab hotel.

Emaar Launches New Five-Star Serviced Apartment Complex In Turkey

Part of the Emaar Square integrated community, it marks the first full fledged hotel and residence project of The Address Hotels and Resorts brand in the international market.

Saudi SABIC Q3 Profit Falls 4.5%, Misses Estimates

SABIC, which is 70 per cent state-owned, attributed the fall in profits to a drop in sales and other income, although its cost of financing was lower.

Oman Likely To Start Cutting Subsidies Next Year -Minister

Oman has been considering ways to reform its costly and sometimes wasteful subsidy system, though reductions in spending would be politically sensitive

Gulf States Need To Reform Spending As Oil Price Slips -Kuwait

A sustained oil price decline of $25 reduces the revenue of most GCC countries by the equivalent of about eight percentage points of gross domestic product, and could therefore push many of them into fiscal deficits.

Kuwait Central Bank Says To Cut Bad Loans To 2% By End-2015

Big provisions for bad loans taken by Kuwaiti banks in the past few years have also limited profits distributed to shareholders.

Masked Men Burn Two Saudi Arabia Consulate Cars In Egypt

Security sources said that at least four men threw crude fire bombs also known as Molotov cocktails at the cars, which were parked.

Abu Dhabi State Fund Asks For More In $22bn Malaysia Banking Deal

Sources say that Aabar Investments is unhappy with the merger talks of Malaysia’s RHB Capital Bhd with IMB Group Holdings and Malaysia Building Society Bhd (MBSB).

TVM Capital Plans $200m Investment In UAE Healthcare Portfolio

The private healthcare-focused firm has made four investments in the United Arab Emirates since 2009 through its $120 million fund.

Kuwait’s Alafco To Spend $600m Buying Aircraft Over Two Years

The company will finance a third of the $600 million from its own resources and the remainder via local and international banks.

Saudi Arabia Warns Women Not To Join Protest Against Ban On Driving

The announcement comes ahead of the anniversary on Oct. 26 of a demonstration last year in which dozens of Saudi women said they had taken to the road in protest at the ban on female drivers.

Only 11% of IT Decision Makers In UAE, Saudi Say Tablets Have Increased Productivity

UAE and KSA responses to the International Tablet Survey suggest a stark contrast in the perceived value of tablets compared to other nations.

UAE’s Tabreed’s Q3 Profit Rises 28%

The firm made a net profit of Dhs95.86 million ($26.1 million) in the three months ending Sept. 30, up from Dhs75.11 million in the year-earlier period, it said in a statement.

Saudi Arabia Produces More, Supplies Less Oil In September

Saudi produced 9.70 million barrels of crude oil per day in September, but its supply to the market fell to 9.36 million bpd during the month.

Etihad To Begin Daily Flights To Dallas By April

The service, which will initially operate thrice a week, will be upgraded to a daily service in 2015 owing to strong demand, the company said.

Abu Dhabi’s Royal Jet Appoints New CEO

Patrick Gordon will replace Shane O’Hare, who served as the CEO of the private charter company since 2007.

Builder Khodari May Double Capex To Handle Big Saudi Projects

Major infrastructure projects planned in Saudi will require raising annual capital expenditure above the levels of SAR150 to SAR250 million seen in past years, Khodari said.

Abu Dhabi’s Manazel Real Estate Prices New Al Reef Villas At Dhs1.7m

Manazel Real Estate has launched 860 two and three-bedroom villas in the new Al Reef development.

Saudi’s SABIC Says Won’t Expand Petrochemicals Venture With Shell

SABIC and Shell first announced plans to explore an expansion of their petrochemical plant in 2012.

Kuwait’s Jazeera Airways Q3 Net Profit Surges 22.6%

The airline registered a 10.8 per cent growth in passengers in the third quarter compared to Q3 last year.

Kuwait Investment Shares Jump On Privatisation Plan

The Kuwait Investment Authority said it would offer its stake in the firm to the public in the first half of 2015.

Saudi Arabia’s ACWA Power Shifts Toward Renewable Energy

The firm is seeking to secure or arranging finance for $15 billion worth of projects, nearly half of which are in renewable energy.

Saudi’s Al Tayyar Travel Group Q3 Profit Rises 13.5%

Al Tayyar said quarterly sales rose 22 per cent year-on-year.

Kuwait Sovereign Fund To Resume Selling Stakes In Local Firms

The Kuwait Investment Authority (KIA) is planning to offer its stake in Kuwait Investment Co in the first half of 2015.

Sharjah Opens A380-Compliant Second Runway

New Dhs500 million runway enables airport to target more premium travellers flying on widebody aircraft

Ooredoo Kuwait Q3 Profit Falls By Nearly Half

Ooredoo Kuwait has slipped to third in terms of mobile subscribers in its domestic market.