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.

Ebola Suspect At Dubai Airport Tests Negative, Leaves Country

The man, coming from Liberia, was transiting at Dubai and was suspected of having the virus after suffering from diarrhea.

Dubai Developer Deyaar Q3 Net Profit Nearly Doubles

eyaar, one of the companies worst hit by Dubai’s property market collapse in 2009-2010, made a quarterly profit of Dhs78.5 million.

Dubai Fund DIC Expects Doncasters, Almatis Sales In 18 Months

DIC has been selling down its portfolio of assets to service its debt, most recently selling German packaging company Mauser for $1.72 billion.

Saudi Aramco Gives Pipeline Contract To China’s SEPCO

Under the contract, the first phase of an expansion of the master gas system, SEPCO will install two booster gas compressor stations.

Pictures: Sneak Peek Into Abu Dhabi’s Upcoming Yas Mall

Yas Mall, developed by Aldar, is set to open in November and will feature over 370 retail and F&B brands.

dirhams

UAE’s Waha Capital Sees Asset Growth With $500m Investment – CEO

Waha, which has a stake in New York-listed AerCap Holdings, had assets totalling Dhs6.5 billion ($1.8 billion) in June this year.

Air Traffic Congestion Will Impact Dubai’s Economy – NATS

Failure to resolve the GCC’s air traffic congestion problems will negatively impact Dubai’s aviation dependent economy, says the air traffic manager.

Saudi Arabia Sentences 13 Over Plot To Attack U.S. Soldiers

The official Saudi news agency said that 13 men had exploited Saudi territory to form a terrorist cell seeking to carry out a terrorist operation against American forces in Qatar and Kuwait.

Saudi’s Dar Al Arkan Real Estate Aims For 10% Growth Next Year

Saudi Arabia’s largest listed developer plans to spend over SAR1 billion on projects in 2015.

Dubai Islamic Bank May Boost Capital After Strong Loan Growth – CEO

The bank’s chief executive said there were a number of options available to boost its capital reserves but it would choose the cheapest way to boost the ratio at the time it chose to act.

Pictures: Dubai’s Upcoming Bollywood Theme Park

The Bollywood theme park, featuring five movie themed areas, is part of the upcoming Dubai Parks & Resorts project.

Saudi Arabia’s Advanced Petrochemical Plans Sukuk Investor Meetings

Funds raised from the issue would be used for general business purposes, the company said.

UAE Ranked 15th Top Expat Destination Globally, 10 Spots Below Bahrain, In New HSBC Survey

Switzerland, Singapore and China were ranked as the top three expat destinations worldwide.

Dubai Islamic Bank Q3 Net Profit Rises 55.7%

The bank made Dhs676.8 million of net profit attributable to the owners of the bank in the three months to September 30.

Abu Dhabi’s Aldar To Launch New Projects In Next 3-4 Months

The company’s new projects will mostly target mid-income buyers and tenants, CFO Greg Fewer said.

Saudi’s National Commercial Bank Q3 Net Income Up 7.8%

NCB, which is currently undertaking the largest ever IPO in the GCC, made $498.4 million in the three months to September 30.

Stock News: UAE, Qatar Markets Rise On Earnings

Emirates NBD and Abu Dhabi Commercial Bank posted strong third quarter results.

Abu Dhabi Education Council Orders School Closure By 2015 After Girl’s Death

Al Worood Academy Private School will be shut down for grave negligence after a four-year pupil died after being left in a school bus.

Abu Dhabi Commercial Bank Posts 16.4% Q3 Net Profit Gain

The lender made a net profit attributable to equity holders of Dhs1.02 billion.

Emirates NBD Q3 Net Profit Doubles, Beats Forecasts

ENBD’s earnings have been given a lift in recent quarters by a resurgence in the Dubai economy.

Abraaj Aims To Soon Complete Purchase Of Saudi Fast-Food Chain Kudu

The private equity firm has been in exclusive talks for months to buy a controlling holding in the restaurant group.

Kuwait’s Global Investment House Says Shareholders Approve Capital Cut

The investment firm aims to write-off of $327.9 million of its losses through a capital reduction.

Different Arab money

European PE Firm CVC Eyes $700m Deals In Middle East, North Africa

Currently, around 25 per cent of the firm’s funds come from Asia and the Middle East.

Saudi Cement Posts Near-Flat Q3 Profit, Beats Forecasts

The company made a net profit of SAR232 million ($61.8 million) in the third quarter, up from SAR229 million in the corresponding period of 2013, according to a bourse filing.