Total CEO Christophe de Margerie Killed In Moscow Business Jet Accident

De Margerie, 63, became CEO of the French oil company in February 2007, taking on the role of chairman in May 2010.

Saudi Inmate To Stay At Guantanamo, Another Cleared For Transfer

Muhammed Abd Al Rahman Awn Al-Shamrani, 39, should stay at the prison because he remains a security threat, the Periodic Review Board said.

Qatari Lender Masraf Al Rayan Lifts Quarterly Profit By 23%

Net profit for the nine months to Sept. 30 was QAR1.43 billion, compared with QAR1.25 billion in the same period a year ago.

Dubai’s Aramex Aiming For Two Acquisitions In 2015

Aramex founder Fadi Ghandour said plans are under way to acquire firms in the emerging markets of Africa, Asia and Turkey.

Carlson Rezidor Inks Deal With Al Hokair Group To Develop New Hotels In Saudi

The deal will allow Rezidor to develop new Radisson Blu and Park Inn hotels in markets such as Riyadh, Dammam, Jeddah, Makkah and Medina.

Qatar Islamic Bank 9-Month Net Profit Rises 12.8%

The Islamic lender made a net profit of QAR1.1 billion ($300 million) during the period, a company statement said, up from QAR975.1 million in the same period a year ago.

Qatar’s Masraf Al Rayan Posts 16.6% Rise In 9-Month Net Profit

Net profit for the third quarter was QAR1.4 billion ($384.5 million) compared to QAR1.2 billion in the same period a year ago, a bourse filing said.

Cobone’s Recent Spin-Off, UAE Travel Site Triperna, Rebrands As Safarna

CEO Paul Kenny says the new name, which means ‘our travel’ in Arabic, better reflects the site’s offering and reach.

Stock News: Markets Give Up Gains As European Stocks Slip

Dubai’s index, which was up as much as 2.5 per cent early in the session, fell 0.4 per cent by mid-day as the pan-European FTSEurofirst 300 index edged down 0.6 per cent.

Dubai’s Mega Theme Park Complex To Include Sony Pictures Studio, Smurfs Zone

The new areas will be located in Motiongate Dubai, the Hollywood inspired theme park within the Dubai Parks & Resorts project.

Commercial Bank Of Kuwait Slashes Bad Loans As Settlements Reached

CBK has now reduced its non-performing loans to 1.3 per cent of its total loan book from a 2009 level of 25 per cent.

Saudi’s NCB Pledges Conversion To Islamic Bank After Pressure From Scholars

State-owned National Commercial Bank, which has about $116 billion of assets, currently has a mixed business.

Majid Al Futtaim Launches New Carrefour City Stores In Dubai

Carrefour City stores will cater to smaller neighbourhoods across Dubai and will offer convenient shopping options, Majid Al Futtaim said.

UAE’s First Gulf Bank Plans Bond Issue, To Establish China Office

The bank expects to post double-digit loan growth in the next 12 months, its CEO says.

Saudi August Oil Exports Fall To Lowest In Three Years

The world’s top oil exporter exported 6.663 million barrels per day in August, down from 6.989 million bpd in July.

Saudi’s Fawaz Alhokair Co Quarterly Net Rises 7.7%, Misses View

The company made a net profit of SAR303.74 million ($81.0 million) in the third quarter, up from SAR282.08 million in the year-earlier period.

Industries Qatar Q3 Profit Rises 5%, Halting Profit Slide

The company made a net profit of QAR1.86 billion ($511 million) in the third quarter, up from QAR1.77 billion in the year-earlier period.

Saudi’s Yansab Q3 Net Profit Falls 20% As Sales Drop

The firm made a net profit of SAR691.3 million ($184 million) in the third quarter, down from SAR864.8 million in the same period of 2013, a statement to the Saudi bourse said.

UAE Launches Strategy To Become Most Innovative Country In Seven Years

The strategy will focus on bringing innovation into seven sectors namely renewable energy, transport, education, health, technology, water and space.

Microsoft Plans To Launch Smartwatch Within Weeks

The wearable gadget’s battery life will exceed two days of regular use, Forbes reported.

Trial Of Prominent Bahraini Activist Starts In Manama

Nabeel Rajab went on trial over remarks published on his Twitter account that were critical of state institutions.

StanChart Readies To Close Thousands Of UAE Accounts

As part of a US settlement in August, the bank was given 90 days to end high-risk relationships with SMEs in the UAE.

Abu Dhabi’s Gulf Capital $750m Fund To Invest In 10-12 Firms

The company’s chief executive said that the fund is looking to invest in sectors such as power and water, oil and gas, healthcare and education.

Stock News: Markets Rebound As Global Bourses Rally On Earnings, Sentiment

Worries about weak earnings report on growth and business had sent Middle East bourses tumbling, with Dubai’s index down 13.6 per cent last week

Saudi Contractor MMG Says Board Approves Recovery Plan

Under the plan approved at a board meeting on Thursday, MMG’s capital will be cut from SAR1.25 billion to SAR125 million, creating one share for every 10 shares currently possessed.

Christie’s Launches Dubai Real Estate Unit – Targets Property Starting at $3 Million

Christie’s will not be taking an equity stake in the new affiliate but will provide marketing and PR support.

Saudi’s SAFCO Q3 Net Profit Rises 24% As Sales Increase

The company, a unit of Saudi Basic Industries Corp (SABIC), said it made a profit of SAR913 million ($243.5 million) in the third quarter, up from SAR734 million in the year-earlier period.

Dubai’s Marka Partners With Chef Heinz Beck To Launch New Restaurant

The restaurant is among the first of five food and beverage outlets that Marka is planning to open by next year.

Saudi-Kuwait Oilfield Halted Due To “Environmental Issues”

The field, whose production is around 280,000 bpd-300,000 bpd, will be brought offline “immediately”.

Kuwait’s Gulf Bank Q3 Net Profit Gains 11.2%, Beats Estimates

The bank made a net profit for the three months to the end of September of KD10.9 million ($37.8 million), compared to KD9.8 million in the year-earlier period.