Dubai Gold Exchange To Introduce Spot Gold Contract In June

The contract is expected to be for 1 kilogramme (32 troy ounces) of 0.995 purity gold, a spokesman said.

Dubai Gold Centre To Tighten Sourcing Supervision

The move comes after the British media alleged that the DMCC failed to follow international guidelines designed to govern sourcing of gold.

Small Blast Heard In Bahrain Capital – Witnesses

The incident took place near a government security building in the Adliya district.

Dubai’s Emirates REIT Expands IPO Due To Strong Demand

Emirates REIT will raise $175 million in the IPO, which was 3.5 times oversubscribed, by selling 128.68 million new shares.

Kuwait’s Americana Chairman Says Not Aware Of Potential Sale

Sources had said that Kuwait’s billionaire al-Kharafi family was looking to sell Americana and had hired bankers to explore a deal.

Sheikh Zayed Road Traffic Diversion For Dubai Canal To Begin In October- RTA

Dubai’s Roads and Transport Authority (RTA) confirmed that the diversion of utility lines is almost complete.

Aldar Considers Eventual IPO Of Property Management Unit

The Abu Dhabi real estate developer owns a 60 per cent stake in property management firm Khidmah.

Bahrain’s Investcorp Tie-Up Targets European Distressed Debt

Investcorp will provide capital to Eyck, a newly established investment manager founded by Khing Oei.

Fourth Iranian Held In UAE Over Businessman’s Kidnap

Ali Rehmat Assadi will stand trial in the UAE on charges of abducting Abbas Yazdi, who went missing in June, a source said.

Qatar 2022 Head Denies “Buying” World Cup

Hassan Al Thawadi rubbishes corruption allegations and says Qatar won the rights to host the football event due to sheer hard work.

Middle East Air Passenger Traffic Grows 13.4% In February

The region saw the strongest passenger growth worldwide, IATA said.

Nakheel Awards Community Services Contracts Worth Dhs87m

The agreements cover 13 communities including Palm Jumeirah, The Gardens, Discovery Gardens, Al Furjan, and International City.

Saudi’s Almarai Q1 Profit Rises 7.3%, Misses Estimates

The company had sales worth 2.72 billion riyals in the first quarter, up 12.3 per cent from a year earlier.

Saudi’s Jarir Q1 Net Up 11.3% Despite Slower Sales Growth

Jarir made 201.3 million riyals ($53.7 million) in the first three months of 2014.

Saudi Hollandi Bank Q1 Net Profit Rises 20%

The bank made a profit of 417 million riyals ($111.19 million)in the three months to March 31, according to a bourse statement.

Saudi’s Riyad Bank Q1 Net Profit Up 13.5%

The bank made 1.08 billion riyals ($288 million) in the three months ending March 31.

Abu Dhabi’s Waha Capital Sells Stake In AerLift Leasing

AerLift Leasing was established in 2010, with Waha Capital owning a 60.7 per cent stake.

Different Arab money

Kuwait’s NIG Says Signs MoU To Sell 30% Of Noor For $99m

The deal will bring it a profit of 7.5 million dinars, the firm said in a statement to the Dubai bourse.

Barclays To Sell UAE Retail Ops To Abu Dhabi Islamic Bank For $177m

Abu Dhabi Islamic Bank said it would acquire 110,000 customers through the deal.

Alpen To Advise On $3bn Of GCC-India M&A Deals In 2014

GCC and India focussed investment bank expects significant interest from Indian investors this year.

UniCredit CEO Says Etihad Good Partner For Alitalia

UniCredit, which is one of Alitalia’s creditor banks, owns a 13 per cent stake in the airline after it took part in a 500 million euro share issue.

Etihad’s Proposal For Alitalia Not Seen Before Monday-Sources

Etihad has finished reviewing Alitalia’s books as it considers whether to invest as much as 300 million euros via a capital increase, sources say.

Delta, Etihad Under Scrutiny As EU Probes Foreign Holdings In Airlines

A carrier must be more than 50 per cent owned and “effectively controlled” by an EU member state or EU citizens to obtain an operating license.

Dubai’s Deyaar Approves 25% Foreign Ownership

The company said the shareholders approved the allocation at a meeting on Thursday.

Saudi’s Maaden Says Secures $2 Billion Loan For Phosphate Plan

The loan will be for 17 years and will be repaid in twice yearly instalments after a five-year grace period, Maaden said in a bourse statement.

UAE’s Retail Sector Set For E-Commerce Explosion- Experts

Tech-savvy consumers will drive the growth of e-commerce in the country’s retail sector.

Saudi’s Umrah Visa Extension Scheme To Launch Next Month- SCTA

Saudi Arabia received around 6.9 million religious tourists in 2013, according to official estimates.

Emirates Launches App For iPad

The Emirates App will allow passengers to manage their booking, check in online and download their boarding pass.

New Dubai Sukuk Standards Seek To Clarify Liability, Rights

The Dubai Financial Market’s new rules are part of broader efforts to develop Islamic business in the emirate.

Dubai Buys Stake In Luxury Hotel Manager Kerzner

Dubai’s ICD has agreed to buy about 46 per cent of Kerzner International, sources say.