U.S. Shale Squeezing Out Saudi Oil Imports, Boosting Gasoline Exports

The North American shale boom has not only cut crude imports into the United States but also turned it into a net products exporter.

Sharjah Has No Short-Term Plans To Return To Debt Markets

About $7.85 billion of orders poured in for the 10-year sukuk ijara from 250 investors on Wednesday.

Kerry Urges Arabs To Back Campaign Against Islamic State

In a strong measure of support, Saudi Arabia has agreed to host training camps for moderate Syrian rebels.

Oman’s Renaissance To Revive Listing Plans For Topaz Arm – Sources

Dubai-based Topaz Energy and Marine dropped its $500 million London listing plans in March 2011, citing market volatility as the reason.

Dubai’s Drake & Scull Wins Dhs168m MEP Contracts In Oman

The company has won four turnkey deals in Oman, bringing the value of its total project wins in 2014 to Dhs4.6 billion.

Mandarin Oriental To Open Dubai Hotel In 2017

Luxury brand to follow Four Seasons on Jumeirah Beach Road

Dubai Investor Sells Al Noor Hospitals Stake, Raises $140m

Ithmar Capital has sold a 7.3 per cent stake in Al Noor Hospitals, in the first such sell-down since the company was listed in July 2013.

Stock News: Dubai Investors Continue Cashing Out Ahead Of Large IPO

Emaar plans to sell a 15 per cent stake in its retail business unit in a $1.4 billion IPO next week.

Emaar Malls Group Opens 24-Hour Call Centre Ahead Of IPO Launch

The retailing unit of Emaar Properties will launch an IPO on the Dubai Financial Market on September 14.

HSBC Allocates Dhs1bn Funding For UAE SMEs

The second round of funding comes as the previous allocation of Dhs1 billion was fully assigned to various businesses, the bank said.

Saudi Oil Minister Downplays Concerns About Oil Price Drop

Brent crude hit an intraday low of $97.60 on Wednesday, its weakest level since April 18, 2013.

UAE Consumers, Retailers Ready For Apple Pay, Says MasterCard

Apple’s new mobile wallet system will be introduced in its iPhone 6 models and the Apple Watch.

Saudi To Host Training Of Moderate Syria Rebels As Part of U.S. Strategy Against IS

U.S. officials declined to specify where on Saudi territory the rebels would be trained.

Saudi Billionaire Prince Alwaleed-Backed Twitter To Raise $1.3bn Through Debt Offerings

The San Francisco-based company said it would use part of the net proceeds for general corporate purposes.

Sharjah Draws Massive Demand For Debut $750m Sukuk Issue

About $7.85 billion of orders poured in for the sukuk ijara from 250 investors.

Oman Fund Working With Bulgaria To Solve Corpbank Problem

Corpbank, in which Oman’s SGRF is the second-biggest shareholder with a stake of about 30 per cent, was hit by a run on deposits in June.

Park Investments Launches New Dhs270m Villa Project In Jumeirah Village Circle

The residential development will comprise 93 four-bedroom villas, with pre-launch prices starting at Dhs2.9 million.

Dubai World Offers Collateral, Early Cash To Revise $25bn Debt Deal

The company is also offering to return cash throughout the loan’s lifespan, more assets as collateral, a higher interest rate and an early repayment of a first tranche of money due next year.

Jumbo To Launch World’s First Gold Gaming Consoles In Dubai

The Xbox and PS4 consoles feature a rose gold case created by Italian jeweller, Gatti, and will be available for sale at the GAMES14 exhibition.

New 5-Star Hotel Planned Near Dubai Healthcare City

The 277-room hotel, targeting medical tourists will open in 2016, the hospitality firm said.

UAE Among Top 10 Most Expensive Countries For University Education – HSBC

Total cost for a university education, including cost of living, stands at $30,472 per year in the UAE, finds new study by HSBC.

Saudi Arabia Tells OPEC To Cut Output In August As Oil Nears $100

The reduction comes as oil prices have come under downward pressure from ample supply and concerns about slower global demand.

Bahrain Set To Raise $1.25bn From 30-Year Bond Sale

Final guidance was given at 6.00 per cent while initial guidance had been 6.00-6.125 per cent.

Kuwait OPEC Governor Expects Oil To Return To Hold $100 Level

The governor attributed the dip in oil prices to a rise in supply and slower demand over summer.

Saudi Aramco, Sumitomo Chemical Invite Banks To Back JV Plant Expansion

The requests for proposals were issued by the parent firms to banks on Tuesday, with financing of the expansion to be split between conventional loans and sharia-compliant facilities.

Sharjah Launches $750m Debut Sukuk Issue

The emirate, which is issuing sukuk with an ijara structure, has garnered orders worth about $7.5 billion, the document said.

Dubai’s House Prices Up 20% Y-O-Y In Q2 2014

The growth in house prices however slowed to three per cent quarter-on-quarter in Q2.

Google Launches 360-Degree Views Of Egypt’s Pyramids, Says Received Govt Support

Users of Street View on Google Maps can explore the Pyramids and five other landmark sites in Egypt.

Stock News: Dubai Investors Cash Out For Emaar Malls IPO

The company plans to float its unit Emaar Malls Group (EMG) this month and subscriptions for the shares will open on Sept. 14.

Emirates NBD Sets Guidance On Tier 1 Bond; Orders Top $1bn

The offer is rated Baa1 by Moody’s and A-plus by Fitch, and is expected to price on Wednesday.