Vodafone Qatar Reports Narrower Q1 Loss

The Qatari operator made a first quarter loss of $32.49 million, an improvement on the $32.6 million Q1 loss last year.

Zain Buys Further Stake In Saudi Unit

The Kuwaiti telecoms operator now owns 37 per cent of Zain Saudi following a weak response from other shareholders.

Top UAE Lenders Beat Q2 Estimates

Three of the country’s largest banks have all posted positive results with First Gulf Bank reporting a 14 per cent profit rise.

ADCB Q2 Profit Beats Estimates

Abu Dhabi Commercial Bank posted a net profit of Dhs733 million for the second quarter of the year.

PineBridge Opens New MENA HQ In Bahrain

The new office of the global asset management company will be headed by ex-Mumtalakat CEO, Talal Al Zain.

Dubai Starts Tenancy Registration At Post Offices

Residents can now complete residential and commercial tenancy contract registration at select post offices.

Abraaj Names New CEO For Aureos

The private equity firm announced that Tom Speechley, senior partner at Abraaj, will take over as the CEO of UK-based Aureos.

National Bank of Abu Dhabi Posts 2% Q2 Profit Rise

NBAD, the largest bank by market value in the UAE, saw second quarter profit grow on higher net interest income.

Saudi Taxis To Be Monitored By Ministry

Taxis in the Kingdom will be been banned from picking up passengers on the streets, the transport ministry has said.

First Gulf Bank Q2 Net Profit Up 14%

The UAE-based bank made a net profit of Dhs1.02 billion during the period, beating analysts’ forecasts.

Regional SWFs Look Inward

As GCC SWFs begin to invest closer to home, the West may find itself with an increasingly empty begging bowl.

Luxury Goods Market To Grow 15% In Middle East

As Tiffany & Co. announce a new JV in the region, a global report says the luxury goods market is growing.

Safco Plans 33.3% Bonus Share Issue

Saudi Arabian Fertilizers Co (Safco) has also proposed a SAR6 dividend for the first half of 2012.

UAE Has No Plans To Issue Bonds

Finance Minister Sheikh Hamdan says the country will fill any gap “from its own resources.”

Wataniya In 49% Q2 Profit Drop

The Kuwaiti telecoms operator reported a loss of 37.3 million dinars compared to the same period last year.

RAKBank Posts 13.5% H1 Profit Gain

The UAE-based lender reported a net profit of Dhs668.7 million for the first half of the year.

Oil Below $104 On Eurozone Fears

Oil fell on worries that Spain may be forced to seek a lifeline from international lenders.

ENBD Q2 Profit Drops 13%

Dubai-based Emirates NBD made a net profit of Dhs647 million in the second quarter of the year.

Dubai’s Old Town Rent Up 10% For H1

Rent prices in the area are up for the first six months of the year, out-pricing costs in Downtown.

Saudi Regulator Suspends MMG Shares

Mohammad Al Mojil Group failed to announce its second quarter results, forcing the CMA to suspend trading.

NIG Requests $475m Sukuk Extension

The Kuwaiti investment firm has asked for a four year extension on the Islamic bond which is to mature next month.

Mashreq Posts 12% Rise In Q2 Profit

The Dubai-based bank made a second-quarter net profit of around Dhs320 million, mainly due to a drop in provisions.

UAE’s Tejari To Double Staff By 2015

The Dubai-based e-procurement technology provider plans to expand operations across the GCC.

Murdoch Resigns From News Corp Boards

The media mogul has stepped down from some of the company’s subsidiary boards that oversee its British titles.

Zain Saudi’s Issue Oversubscribed

The telecoms firm’s $1.69 billion rights issue was subscribed by more than 632 million shares.

Qataris Buy Stake In London Developer

The group, with links to the royal family, has bought a 45 per cent stake in Native Land which operates in London’s wealthy Chelsea.

Gulf Carriers Bid For Saudi Licence

Seven consortia including Qatar Airways and Bahrain’s airlines are hoping to qualify for a new licence in the Kingdom.

Prince Alwaleed's Kingdom Holding has minority stakes in some of the world's top companies.

Kingdom Holding Q2 Profit Up 9.4%

Savola Group also posts a rise for the second quarter making $90.9 million profit, up 48 per cent.

Etihad Can Raise Virgin Stake

The Australian government has permitted Etihad to increase its stake in Virgin Australia up to 10 per cent.

Intel Posts 12.5% Fall In Q2 Profit

The technology company posted a year-on-year rise in quarterly revenue to $13.5 billion.