Revealed: World’s Most Expensive Construction Markets

Qatar was the most expensive construction market in the Middle East region in 2014, according to a study by EC Harris.

Lactalis Subsidiary Tops Rival Bid For Egypt’s Arab Dairy

The revised bid values Arab Dairy at 363 million Egyptian pounds ($50.5 million) against $49.68 million for the latest Pioneer offer.

Dubai Utility DEWA Names Preferred Bidder For Upsized Solar Plant

A consortium of Saudi Arabia’s ACWA Power and Spain’s TSK had been selected as the preferred bidder to build the 200MW solar power plant.

MENA To See Solar Projects Worth $2.7bn In 2015

Solar projects having capacity to produce up to 1,800 megawatts of power are to be awarded over the next 12 months in the region.

Dubai’s Emaar Says Watching Market Conditions For Hotels IPO

Emaar sold a 15.4 per cent stake in its retailing unit in an initial public offer in September, raising $1.6 billion.

Saudi’s Al Rajhi Bank Q4 Net Profit Falls 1.8%, Misses Forecast

The decrease was the sixth straight drop in quarterly profit posted by the bank.

Nakheel Set To Lease Space At New JV Triangle Mall, Al Khail Avenue

The developer will launch for lease 1.5 million sqft of shopping, dining and entertainment space at the mall from January 18.

Stock News: Gulf Markets Rise After Oil Rebounds

Wednesday’s 4.5 per cent surge in Brent crude futures was the biggest percentage gain since June 2012.

Qatar Airways Launches First A350 Flight

The first of the Doha carrier’s 80 A350s has entered service to Frankfurt

Kuwait’s Americana Still In Talks For Sale

Americana, backed by Kuwait’s billionaire al-Kharafi family, operates franchises for restaurant chains around the region.

Anger, Calls For Calm In Middle East Over New Charlie Cartoons

Charlie Hebdo’s “survivor’s edition” swiftly sold out its multi-million copy print run in France.

Oman’s Bank Dhofar Q4 Net Profit Up 9.2%, Beats Estimates

Net profit for the full year was down 30.6 per cent year-on-year to OMR40.5 million.

Bank Muscat Q4 Net Profit Drops 26.6%, Misses Forecasts

Net profit in 2014 was OMR163.2 million, up 7.3 per cent from the previous year.

Dubai’s Emaar Says Banks Slash Interest Rate On $500m Loan

Emaar said the pricing on the loan had fallen by 1.5 per cent.

Oil Price Drop Unexpected, OPEC Was Right Not To Cut – Kuwait

Oil prices have collapsed about 60 per cent in the last six months.

Samsung Talks To BlackBerry About $7.5bn Buyout – Source

The Korean firm is looking to gain access to BlackBerry’s valuable patent portfolio.

Citigroup Loses Appeal Over Abu Dhabi Fund’s Arbitration

Abu Dhabi Investment Authority is pursuing a second arbitration over its $7.5 billion investment in Citigroup in late 2007.

Saudi Lender NCB Q4 Profit Rises 1.7%, Misses Forecast

The lender made a net profit of SAR1.83 billion($487.6 million) in the last quarter of 2014.

Saudi Cement Q4 Profit Rises 9%, Beats Forecasts

The company made a net profit of SAR269 million ($71.68 million) in the last quarter of 2014.

Saudi British Bank Q4 Net Profit Near-Flat, Misses Forecasts

The bank made a profit of SAR969.4 million ($258.3 million) in the last quarter of 2014.

Dubai Parks And Resorts Begins Work On DreamWorks Zone

The company said that work on the steel structure, in which the animation zone is located, has started.

Kuwait Oil Minister Says Crude Price At Unexpected Levels

The current price fall affects Kuwait and other oil-producing countries, KUNA said, citing Ali al-Omair as telling parliament.

Qatar Petroleum, Shell Halt $6.4bn Petrochemical Project

Prices quoted by companies to build the huge complex showed the project was “commercially unfeasible, a joint statement said.

Saudi Housing Minister Says Aiming To Tax Undeveloped Land

The minister’s comments suggested increasing political momentum for the tax, which could provide the government with additional revenues.

UAE-Based Just Falafel Rebrands As JF Street Food

The company has also launched a global competition to choose new designs for its staff uniforms as part of the rebranding.

Kuwait’s NBK Capital Hires Hamad As CEO, Spins Off Unit

Faisal al-Hamad was previously managing director of brokerage and research at NBK Capital.

National Bank Of Oman Q4 Net Profit Rises 29%

The lender made a net profit of OMR13.2 million ($34.3 million) in the fourth quarter of 2014.

DIB Sets Final Price Guidance For Benchmark Tier 1 Sukuk

The sukuk will be launched and priced later on Wednesday, the arrangers said.

New Dubai Mid-Market Brand Rove Plans 10 Hotels By 2020

Developed by Emaar Hospitality and Meraas, the brand targets young tech-savvy travellers.

Saudi Arabia Mulls Privatisation Of Major Airports

The official, however, did not specify the total number of airports in the Kingdom that will be privatised.