Five Minutes With.. Abed Bibi And Husain Makiya, Co-founders, YouGotAGift.com

YouGotAGift.com’s co-founders discuss the inspiration for their gift card business, growth areas and plans to expand to regional and international markets.

Dubai Islamic Bank Q1 Net Profit Rises 34%, Beats Estimates

The bank made a net profit attributable to shareholders of Dhs816.7 million in the first quarter of 2015.

UAE Employment Rate Up By Record 10% In 2014

The total number of workers in the country reached over 4.4 million, according to data from the Ministry of Labour.

Kuwait Says Controls Limited Fire At Mina Abdulla Refinery

The unit’s operational rates were still high and oil product exports will not be affected, an official said.

UAE Court: Reem Island Suspect’s Mental Health To Be Examined

The ruling comes as the accused Alaa Bader Abdullah told the court in a previous hearing that she was not mentally stable and had suffered from hallucinations.

Saudi Oil Minister Discusses Oil Markets With Russia, Brunei

Naimi met the representatives and exchanged views about recent oil market developments as well as ways to develop oil cooperation.

Oman Cement Q1 Net Profit Rises 3.7%, Beats Forecasts

The company made a net profit of OMR3.83 million ($9.95 million) in the first quarter of 2015.

Saudi Stock Market Tadawul Says 2014 Profit Up 74% On Trading Income

The company made a net profit of SAR265 million in 2014, according to a statement posted on the bourse website.

Saudi Bank NCB Q1 Profit Rises 2.8% On Higher Operating Income

The lender made a net profit of SAR2.61 billion ($696 million) in the first quarter of 2015.

Deputy Minister Says Saudi Should Consider Water, Power Price Reform

Water and power use in Saudi Arabia are growing about eight per cent annually, putting a pressure on the government.

Saudi SAFCO Q1 Net Profit Slumps 30%, Misses Forecasts

It is the seventh quarter in the last eight in which the firm has posted decreasing profits.

Egypt And Saudi Arabia Discuss Manoeuvres As Yemen Battles Rage

The statement from the Egyptian presidency appeared to be a sign that the Arab coalition may carry through on threats to eventually launch a ground intervention.

Dubai’s Deyaar Q1 Net Profit Rises 6%

The developer made a quarterly profit of Dhs55.2 million in the three months to March 31.

Qatar Launches First Chinese Yuan Clearing Hub In Middle East

The centre is expected to facilitate greater cross-border renminbi investment and financing business and boost trade between China and the region.

Dubai’s TECOM Investments Says Completes $1.1bn Loan Upsizing

The firm said in January that the cash would be used to fund the company’s general corporate needs, new developments and growth plans.

Abu Dhabi Crown Prince To Meet Obama At White House Next Week

The National Security Council said the meeting is scheduled for next Monday.

Dubai Metro Expansion To Push Up Nearby Property Prices by 10-15%

Properties in close proximity to the new stations may receive stronger interest, even in the short term, Valustrat said.

Oman’s Bank Muscat Posts 8.9% Rise In Q1 Profit, Beats Forecasts

The bank made a profit of OMR43.3 million ($112.5 million) in the first quarter of 2015.

Sheikh Mohammed Asks UAE Residents To Name Country’s Mars Probe

Dubai’s ruler asked residents to share their suggestions on Twitter via the hashtag Mars_Probe.

Swiss Private Bank UBP To Boost ME Operations After Coutts Buy

The Middle East currently accounts for 12 per cent of the bank’s global operations.

Dubai’s Noor Bank May Sell Debut Sukuk After Setting Up $3bn Programme

Noor Bank said its sukuk programme had been arranged by itself as well as Citigroup and Standard Chartered.

Property Investments In GCC Hit $2.8bn In 2014

Real estate investments in the GCC were much lower compared to the region’s massive outbound spend of $14 billion last year.

Iran’s Zarif Lays Out Four-Point Plan To Solve Yemen Conflict

Iran proposed a ceasefire, humanitarian assistance, an intra-Yemeni dialogue, and a broad-based government to end the conflict.

Kout Food Joins Delisting Queue In Sagging Kuwait Stock Market

The company’s board said it would ask shareholders to vote on the matter, just a day after Bahrain’s Gulf Finance House said it was considering leaving the Kuwaiti bourse.

National Bank of Kuwait Q1 Net Profit Up 15%, Beats Estimates

Net profit was $319.5 million in the first quarter of 2015, a statement said.

Nokia In Talks To Buy Alcatel-Lucent

The Finnish and French companies said they were in “advanced discussions” on a “full combination.”

Different Arab money

Mideast Sovereign Funds Cut Outbound Property Purchases 31% In 2014 – CBRE

SWFs cut their international investment last year because of the plunge of oil prices, a report by CBRE said.

Qatari Banks, Southwest Securities Plan Islamic Finance Venture In China

Qatar National Bank and Qatar International Islamic Bank have signed an MoU for the venture.

Ahli United Bank To Issue Tier 1 Bonds, Meet Investors From Thursday

The lender chose Goldman Sachs, HSBC and Morgan Stanley to arrange investor meetings for the bonds.

Saudi Arabia’s Ras Tanura Port Reopens After Shutdown

The port was shut on Monday because of poor visibility and strong winds.