Saudi Ma’aden Shuts Down Ammonia Plant After Cooling Facility Fault

The company said that the shutdown at the facility in Ras Al Khair would last for around 10 days.

Dubai Builder Arabtec Wins $283m Contract From Saudi Aramco

Arabtec said it would complete the project in Al Dhahran within 28 months.

Saudi Arabia Reshuffles Government Funds Under Finance Ministry

Each institutional fund will now belong to a ministry or other body related to its function, and be chaired by the minister.

EU Joins Arab States In Seeking Access For UN Rights Envoy To Gaza

The EU believed it was urgent to make “renewed, structured and substantial efforts towards peace” in the Middle East.

Saudi Cabinet Targets Housing Gap With Tax On Undeveloped Land

Much urban land in the kingdom is owned by wealthy individuals or companies who prefer holding it as a store of value, or trading it for speculative profits.

Oman Sultan Returns In “Complete Health” After Treatment In Germany

Qaboos, 74, has been absolute ruler of Oman since 1970, but his absence in Germany since July had led to growing concern about his health.

Saudi’s Advanced Petrochemical Resumes Production After Maintenance

Full operational capacity at the two plants would be achieved in 8-10 days.

Secured Creditors Of Espirito Santo Dubai Unit To Get 82.7% Payout

Unsecured creditors of the Dubai arm of the Espirito Santo empire will get none of the $14 million they are owed.

Saudi Arabia: Arabs Will Take Action Over Yemen If Peace Efforts Fail

Foreign minister Prince Saud al Faisal repeated an invitation to all Yemen’s rival factions, including the Houthis, to attend peace talks in the kingdom.

Yemen Foreign Minister Calls For Gulf Arab Military Intervention

Riyadh Yaseen has urged the Arab states to set up a no fly zone to counter the growth of Houthis.

Majority Of Regional Family Businesses Worried Over Government Regulations

No specific reason was given for the findings, recorded by a PwC survey.

Qatar’s QIA To Join Swiss Travel Retailer Dufry In Bid For WDF -Sources

Italian travel retailer World Duty Free (WDF) belongs to the Benetton family.

Aldar Sells 281 Land Plots In Abu Dhabi’s Khalifa City

The company generated around Dhs600 million in revenues from the sale of land plots.

Saudi’s ACWA, Mitsui Win $630m Oman Power Plant Deal

The contract was won along with Dhofar International Development and Investment Holding Co.

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UAE’s Ras Al-Khaimah May Print 10-Year Sukuk As Early As Tuesday

Ras Al-Khaimah is planning a benchmark size offer, traditionally understood to mean upwards of $500 million.

Emirates Airline Sets Guidance For $913m UK-Guaranteed Sukuk

The initial guidance for the senior unsecured ten-year sukuk issue is at around 100 basis points over midswaps, a document showed.

Oil Prices Drop After Saudi Arabia Says It Will Not Cut Output Alone

Saudi Oil Minister Ali al-Naimi asserted on Sunday that the Kingdom will not curb output to prop up prices.

Dubai-Based Souq.com Plans 3-Day Mega Sale, Expects 7m Visitors

The sale, set to run from March 29-31, will have 2,500 product deals on offer.

Abu Dhabi Airport Passenger Traffic Up 21.5% In February

The airport saw nearly 1.7 million visitors in the month of February, authorities said.

Dubai’s Arabtec Seeks To Sell Four Saudi Units, Eyes Kingdom Expansion

Arabtec’s board has approved disposing of Arabtec Saudi Arabia, Arabtec Construction Machinery, Saudi Austrian Arabian Ready Mix Co and EFECO Saudi.

Saudi Arabia Invites Iraq’s Abadi To Visit In Big Sign Of Thaw

Iraqi PM Haidar al-Abadi’s office gave no details about the invitation or when the possible visit would take place.

Lee Kuan Yew, Founding Father Of Modern Singapore, Dies At 91

Lee, a British-educated lawyer, is credited with building Singapore into one of the world’s wealthiest nations on a per capita basis.

Dubai’s DP World Signs Deal To Develop Ports, Logistics Industry In Maldives

The Dubai-based ports operator said it will help Maldives develop infrastructure, logistics and transport links.

Omantel Gets Shareholder Assent For $130m Sukuk Issue

Omantel did not give any timing for the issue in the bourse filing.

UN Warns Yemen Conflict Could Become Iraq-Libya-Syria Scenario

Violence has been spreading across the country since last year when Houthi militia seized the capital Sanaa.

Saudi Oil Minister Denies “Conspiracy Theory” Behind OPEC Decision

Ali al-Naimi also said that OPEC will not take sole responsibility for propping up the oil price.

UAE’s Ajman Bank Agrees $155m Syndicated Islamic Loan

The deal consisted of a hybrid murabaha and wakala structure with a two-year lifespan.

Dubai Holding Unit’s 2014 Profit Rises 42%, Still Eyes Telco Sales

The company made a net profit in 2014 of Dhs4.68 billion last year, up from Dhs3.30 billion in 2013.

Nakheel Launches Tender For New Mall At Jumeirah Village Triangle

The tender covers infrastructure services relocation, shoring works and excavation at Al Khail Avenue.

Dubai Investments Forms JV To Develop Projects In Saudi

The joint venture firm’s first project in Saudi Arabia will be an 11 million square metres project called Riyadh Investment Park.