Dubai Developer Deyaar Q2 Net Profit More Than Doubles

The company made a quarterly consolidated net profit of Dhs62.5 million ($17 million) compared with Dhs27.3 million in the corresponding period in 2013.

Flydubai To Start Flights To Mumbai From October

The low-cost carrier will operate direct flights to the Indian city five times a week from October 28.

Jet Airways To Revamp Business Strategy Post Sale To Etihad

Under the new plan, Jet Airways will widen its service network and increase frequencies on its existing routes.

Dubai’s Majid Al Futtaim Says H1 Revenues Jump 14%

The firm made Dhs12.8 billion ($3.5 billion) in the six months to June 30, it said in a statement.

Saudi’s Savola Says In Talks To Sell Packaging Business To Takween

Savola’s packaging unit’s consolidated net profit last year fell to SAR69.5 million from SAR100 million a year earlier.

Dubai’s Rents Up Almost 50% During Last Two Years- CBRE

Residential rents in Dubai grew 20 per cent year-on-year during the second quarter of 2014, with apartments seeing the strongest rise, a CBRE report says.

Saudi Electricity Says Will Get $400m Payment From Aramco

The settlement covers payments due between 2007 and 2013.

Duqm Airport Opens In Oman

Oman Air is among the first carriers to touch down, operating four flights a week from Muscat on Embraer 175 aircraft.

Qatar Emir Meets Saudi King In Jeddah To Discuss Gaza Fighting

More than 600 people are reported to have been killed in Gaza during the two weeks of fighting between Palestinians and Israelis.

Japan To Count Saudi, UAE Crude Storage Toward Reserve Goals

Japan has been lending 10.7 million barrels of crude tank capacity to the two countries.

Four Seasons Dubai Targets December Launch

The 14-acre luxury resort, located in Jumeirah Beach, features a Spanish-Mediterranean feel with Arabian accents.

FIFA: Probe Into Qatar World Cup Bid Delayed, Report Won’t Be Made Public

The report, expected to be out in July, will now only be ready by September with officials confirming that it will not be made public.

Kuwait Revokes Citizenship Of Two Opposition Figures, relatives

The cabinet will impose the measures on Ahmed al-Jabr and Abdullah Barghash, his two brothers and his sister.

Saudi’s Savola Says CEO Mannaa To Resign For Personal Reasons

Savola is a major producer of cooking oil, sugar and other foodstuffs in the Kingdom.

Rebels In Ukraine Likely Downed Malaysian Jet ‘By Mistake’ – US Officials

The officials said their assessments were backed up by evidence from social media and by intercepted conversations of known pro-Russian separatists.

UAE’s First Gulf Bank Posts 16% Q2 Profit Hike, Matches Estimates

The bank made a net profit of Dhs1.35 billion ($367.6 million) for the three months ending June 30.

Dubai’s RTA Says First Batch Of NOL Cards Issued In 2009 To Expire By Aug

Public transport users can use their expiring NOL cards until they finish their balance amount, RTA said.

UAE Lender NBAD Posts 17.5% Q2 Net Profit Gain, Beating Forecasts

NBAD made a net profit of Dhs1.42 billion ($386.6 million) in the three months to June 30, the bank said in a statement.

Abu Dhabi Commercial Bank Posts 22% Q2 Net Profit Hike

The bank made a net attributable profit of Dhs1.06 billion ($288.6 million) in the three months ending June 30, it said in a statement.

Dubai’s Damac Says New Loretto Project Sells Out In One Night

The Loretto project, which has nearly 300 luxury apartments, is located in Damac’s flagship AKOYA development.

Stock News: Saudi Bourse At 6-Year High On Foreign Investment News

The main index rose 3.2 per cent, its biggest rise since April 2012, to a fresh six-year high of 10,062 points in the first hour of trade.

MSCI Could Add Saudi Arabia As Emerging Market Next Year

Saudi Arabia plans to open its stock market to direct investment by foreign financial institutions in the first half of next year.

Dubai International Airport Resumes Full Operations After Runway Upgrade

The number of flights to the airport surged 31 per cent with the opening of both the runways, Dubai Airports said.

Abu Dhabi’s House Prices Soar 17% In H1 2014

Residential sales prices in the emirate grew seven per cent in the second quarter of 2014, a new report says.

Aldar, Chalhoub To Launch Region’s Largest Department Store In Yas Mall

The new department store, spread across 200,000 sqft, will showcase over 200 global brands.

Global Airlines Body IATA Calls On Govts To Lead Review Of Airspace Risks

The issue of flying over conflict zones has come into sharp focus after Malaysia Airlines flight MH17 was shot down in eastern Ukraine on Thursday.

Stock News: UAE Slips As Arabtec Continues To Drop

Dubai’s main stock index fell 1.4 per cent as builder Arabtec declined by 3.7 per cent.

UAE’s Waha Capital Q2 Net Profit Jumps On AerCap Deal

Waha, whose shareholders include Abu Dhabi government entities, made Dhs1.14 billion in the second quarter of the year.

Qatar’s Masraf Al Rayan Q2 Profit Rises 12.1%

The Islamic lender’s net profit for the three months to June 30 was $129.5 million.

Oman Cement Posts 4.3% H1 Net Profit Hike

Net profit rose despite a drop in sales despite a drop during the first half of the year.