Bahrain Launches Criminal Investigation Against Main Opposition Group

The Interior Ministry accuse the al-Wefaq group of trying to undermine national security.

Dubai’s Damac Awards Contracts Worth Dhs1.2bn In 2015

The developer said that it appointed five contractors to work on its master developments and hotel apartment projects.

Dubai’s Al Habtoor Turns Hollywood Producer, Eyes Egypt For Film Talent

The Dubai-based businessman confirmed that he is currently working on two Hollywood movies.

Oman’s Bank Dhofar Working With Two Advisers On Capital Plans

The lender said last month that it was mulling options for raising up to $300 million of capital at the earliest opportunity.

Aldar Leases Out 90% Of Burj Mohammed Bin Rashid Project

The tower is also the tallest building in Abu Dhabi and is named after Dubai’s ruler Sheikh Mohammed bin Rashid Al Maktoum.

UAE’s JadoPado Expands, Sees Local E-Commerce Hit $12bn By 2018

The online retailer has expanded into a marketplace, and will host sellers from around the world.

Dubai’s DEWA Posts 2014 Profit Rise, To Repay $1bn Bond In April

Dubai’s only utility also said it would distribute a cash dividend for the year of Dhs500 million to the government.

UAE, Saudi Arabia Control 74% Of GCC’s Private Wealth

Almost 44 per cent of the GCC’s private wealth is focused in Saudi Arabia, while the UAE controls around 30 per cent, a new study shows.

UK Businessman Takes Emirates To Court Over Lost Luggage

Abrar Khan claimed the airline refused to compensate him after losing his luggage en-route to Dubai.

UAE Says Its Jets Target Oil Refineries Under ISIL

The strikes were aimed at cutting off their main sources of funding, state news agency WAM said.

Etisalat’s Egypt Unit Signs $120m Loan

HSBC and National Bank of Abu Dhabi, will each provide $60 million each to Etisalat Misr.

Kuwait To Boost Drilling Rigs, Crude Capacity Despite Low Oil Price

The Gulf state plans to deploy 120 oil and gas rigs by the start of next year, up from 80 rigs now.

UAE Banks’ Profit Growth To Dip On Weaker Economy, Asset Quality -S&P

Sector-wide profit growth this year is expected to drop to five or six per cent from 22 per cent in 2014.

UAE Calls Egyptian Hostage Killings By ISIL “An Ugly Crime”

The UAE’s president and other leaders condemned the killings and affirmed their support to Egypt in rooting out such radical groups.

Bahrain’s Batelco Q4 Net Profit Rises 22%

The former monopoly has now posted rising profits in four of the past six quarters.

Orascom Construction To List On Nasdaq Dubai, Egyptian Exchange

The listing followed a demerger of OCI NV’s engineering and construction business from its fertilizer and chemicals business.

Emirates Introducing A380 On Milan-New York Route

The service will begin from June 1, and raise superjumbo capacity between Dubai and Milan.

Hospitals on Alert As Saudi Arabia Finds Six New MERS Cases

Two people have died after being affected with MERS over the last two days, prompting fresh health warnings to prevent an outbreak.

Oil Steadies Around $61, Kuwait Sees Prices Supported

The price of Brent crude has increased by more than 30 per cent in the last four weeks.

Abu Dhabi’s NMC Health Says Signs $825m Loan Facility

The facility is divided into two tranches and will be used to refinance existing debts of NMC and to fund its acquisitions.

Kuwait Oil Minister Says He Expects Price Rally To Continue

Omair said the current market surplus was less than 1.8 million barrels per day.

Dubai’s MAF To Open Canadian Brand Lululemon Stores In ME

The first lululemon athletica store is slated to open in Dubai later this year.

Omantel Says Board Proposes Paying Cash Dividend Of 75%

The proposed cash amount, for which no timeframe was given but which is in line with what the company paid for the second half of 2013.

Bahrain Sends Warplanes To Jordan To Fight ISIL

The country did not say how many aircraft or what kind were sent.

Bahrain Confirms Six-Month Sentence For Opposition Official

Jameel Kadhim was sentenced on charges of making false allegations that undermined national elections.

Oman Antimony Project Secures $40m Loan

Antimony trioxide is mostly used as a flame retardant and a catalyst in the production of plastics.

Saudi Arabia Condemns Attacks In Copenhagen And North Carolina

Two civilians died in attacks in Copenhagen on Saturday and five police were wounded.

Omantel Q4 Net Profit Falls 11%

The former monopoly made a net profit of 26.5 million rials ($68.8 million) in the last quarter of 2014.

Egypt Lines Up $6.8bn Of Kuwaiti Investment For Energy Projects

Prime Minister Ibrahim Mahlab signed MoUs with Kuwaiti companies involving projects due to start in three to five years.

Dubai’s Emaar Properties Q4 Net Profit Rises 14%

Emaar made an annual profit of Dhs3.29 billion in 2014, up 28 per cent year-on-year.