UAE’s Air Passenger Numbers To Grow 5.6% By 2034 – IATA

Globally, passenger numbers are expected to reach 7.3 billion by 2034, representing a 4.1 per cent average annual growth.

Kuwait Petroleum Subsidiary Launches $1bn Loan

Kuwait Foreign Petroleum Exploration Company (Kufpec) was last in the market in June 2013 when it sealed a five-year $750 million deal.

Dubai Expo 2020 Team Provides Second Update To BIE

The BIE, which oversees World Expos, was provided an overview about the new Expo 2020 Bureau and the site’s positioning.

Oil Sinks To Four-Year Low Below $83 As Economic Worries Mount

Global benchmark Brent has lost more than 28 per cent since June on slow demand and abundant supply.

First Look: Four Seasons Resort Dubai At Jumeirah Beach

Resort blends leisure and business around an ‘understated’ luxury theme

GCC Mulls Joint Naval Force Against Regional Threats

The joint naval force will work towards protecting the Gulf’s commercial routes while cooperating with other international security forces to combat terrorism.

Saudi Aramco Trades First Fuel Oil Derivative On Platts

Saudi Aramco Products Trading Co sold a November 180-centistoke derivative to Glencore at $466.25 a tonne.

Kuwait Says No Impact On Output Or Plans From Oil Price Drop

Kuwait Oil Co intends to spend some $42 billion on oil and gas projects over five years.

Stock News: Saudi Index Tumbles 5%, Dubai Drops 4.7%

The Saudi index sank to 9,407 points, its lowest level since mid-April.

Dubai Duty Free Named World’s Largest Airport Retailer

Dubai’s airport retailer accounted for 5.19 per cent of global airport duty free business and almost three per cent of the wider duty free and global travel retail business.

Chinese Solar Firm To Set Up Dhs110m Facility In Dubai Silicon Oasis

Chang Zhou Almaden, which produces photovoltaic glass, will set up a 15,000 sqm manufacturing facility at the free zone.

Stock News: Markets Extend Pull-Back Amid Global Gloom

Dubai’s index fell 2.7 per cent to 4,370 points as a broad sell-off continued.

Kuwait Moves Toward Cutting Diesel, Kerosene Subsidies In Key Reform

The cabinet “accepted” a report by a committee at the Ministry of Electricity and Water on hiking prices of diesel and kerosene more than threefold, state news agency KUNA reported.

Jumeirah Unveils Chinese Expansion

Trio of properties in Nanjing, Wuhan and Hainan take group’s Chinese portfolio to eight hotels

Saudi Convicts 22 On Militant Charges, Sentences One To Death -SPA

The group was convicted of embracing militant ideology, the possession of ammunition in their apartment and firing on security services during a raid on their apartment in Mecca, killing one security officer.

UAE Says Isolates Passenger From Liberia For Ebola Checks

The passenger arrived in Dubai on a plane from Liberia, the ministry said.

Bahrain Activist Detained For Seven Days – Lawyer

Zainab al-Khawaja was accused of insulting King Hamad by tearing up his picture, her lawyer said.

Al Rajhi Bank Posts Fifth Straight Quarterly Profit Drop

The bank said it made SAR1.66 billion ($442.6 million) in the three months ending September 30, compared with SAR1.71 billion in the same period a year earlier.

Qatar Airways’ Executive Division Eyes Up To 20 Gulfstream Jets

Qatar Airways plumps for Gulfstream to meet next-phase long haul needs

Legoland Dubai To Feature 15,000 Lego Structures In Six Themed Areas

The new theme park, to be operated by Merlin, is coming up in Dubai Parks & Resorts.

Oil Falls To $84, Near Four-Year Low, On Oversupply

Oil saw its biggest daily fall in more than three years on Tuesday.

National Bank Of Kuwait Q3 Net Profit Falls 16%

The decline in third-quarter net profit came despite the bank posting a 7.8 per cent increase in its operating revenue.

Dubai’s Marka To Launch Four New Retail Brands At Meraas’ City Walk

The group will bring European brands such as Sonia by Sonia Rykiel, Berenice and Essential Antwerp to Dubai.

UAE Lender First Gulf Bank Sells 45% Stake In Brokerage

FGB, majority-owned by Abu Dhabi’s ruling family, signed an agreement with Integrated Financial Group.

Omani Telco Nawras Q3 Net Profit Jumps 36%

Nawras had 2.51 million subscribers as of Sept. 30, up 6.5 per cent from a year ago.

Blackstone, Gulf Investors Buy Stake In UAE’s GEMS Education

Under the transaction, GEMS will be split into two entities, with the investing group buying a stake in the part of the business focussed on MENA and Asia.

Samsung Launches Flagship Galaxy Note 4, Note Edge And Gear S In UAE

The Note 4, priced at Dhs2,799, will be available from October 16, while the Note Edge will be launched later as a limited edition product.

UAE’s Amanat To Invest In Six Firms Post IPO

The company is looking to invest in the GCC’s healthcare and education sector, with a focus on the UAE and Saudi markets.

Flydubai Hires Seven Banks For Debut Sukuk – Sources

In February, a Flydubai official said that the firm is looking to raise funds through a bond issue and was considering a sukuk option.

Bahrain To Invest $22bn In Infrastructure Projects

The projects include the upgrade to the country’s international airport, various tourism developments and the expansion of the aluminium smelter at state-owned firm Alba.