News from the MENA region

UAE summons Iraqi envoy over flydubai gunshot terror

Ambassador Muwaffaq Mehdi Abboud told of UAE’s ‘grave concern’; UAE demands full investigation

Zain Saudi gets regulator nod for second capital cut

Move comes as telecom operator is yet to make a quarterly profit since launching service in 2008

Obama meets King Salman to cement ties with Saudi Arabia

US President visits new ruler in a trip that underscores the importance of a US-Saudi alliance beyond oil interests

Dubai house prices forecast to fall by up to 10% in 2015

Jones Lang LaSalle says it expects correction this year after prices have risen 56% in the two years to June 2014

Etihad set for $61m payday if Aer Lingus takeover bid is approved

Irish carrier’s board has recommended the Irish gov’t accept offer from IAG, the parent company of BA

Emaar Properties said to target Q2 for $270m Egypt unit float

Sources say property giant will submit plans to North African country’s regulator ‘within days’

Saudi economic reforms must focus on efficiency – minister

Economy and Planning Minister Muhammad al-Jasser says reforms will continue under new King Salman

Saudi Arabia still on track to open up stock market in H1

Capital Market Authority chairman says bourse will open to direct foreign investment by end of June

Kuwait’s Zain says Iraq court rejects $4.5bn claim against firm

Claim is related to Zain’s acquisition of an Iraqi telecom operator in 2007

Thick fog brings Kuwait International Airport to standstill

More than 20 flights scheduled to land at Kuwait International Airport were diverted on Monday; normal ops have since resumed

Abu Dhabi’s ADIB eyes capital boost to support growth

Abu Dhabi Islamic Bank eyes growth after posting 19% increase in Q4 net profit

Qatar minister named as new stock exchange chairman

Economy minister Sheikh Ahmed bin Jassim al-Thani appointed in move to raise bourse’s international profile

Germany said to halt arms exports to Saudi Arabia

Gov’t sources quoted as saying Gulf kingdom is currently ‘too unstable’ to receive weapons

Abu Dhabi’s ADCB posts 16% rise in Q4 net profit

Abu Dhabi Commercial Bank is latest UAE-based bank to report strong performance in fourth quarter

UAE’s Select buys Radisson hotel in UK’s second largest city

Select Group says it will begin to invest in new hotel rooms, meeting areas over the next 24 months

Obama, world leaders head to Saudi Arabia to offer condolences

Leaders from the US, Russia, UK, France, Japan among those meeting new King Salman in Riyadh

Ex-Damac senior exec to head new UAE real estate firm

Nahid Dabirchian to lead Omega Real Estate which aims to build $136m property portfolio by end-2015

Emirates announces plan to add Kolkata route capacity

Dubai-based airline says it will add 13th weekly flight to Indian city and upgrade aircraft on some flights

Abu Dhabi Int’l Airport sees 20m passengers in 2014, up 20%

Top five destinations for passengers from Abu Dhabi were India, Germany, UK, Pakistan and Saudi Arabia

Dubai public transport lifts 531m passengers in 2014

Transport authority chief says futher expansion plans in pipeline including extension of Dubai Metro Red Line

Profile: Saudi’s new Crown Prince Muqrin

Heir to Saudi Arabia’s throne is a former fighter pilot who was educated at a Western university

Saudi Arabia to bury King Abdullah on Friday

Many Saudis in a country with a young population will be unable to recall a time before King Abdullah’s rule

King of Jordan cancels Davos talks after Saudi ruler’s death

Jordan’s King Abdullah pulls out of World Economic Forum in Switzerland along with other Arab delegates

New Saudi king seeks to reassure on succession and policy

King Salman pledges to maintain existing energy and foreign policies; appoints younger men as his heirs

Profile: New Saudi Deputy Crown Prince marks generational shift

Prince Mohammed bin Nayef is a close friend of the United States and a scourge of Islamist militants

Saudi Arabia’s new Yemen strategy: get behind a fence

Saudi Arabia is increasingly taking a security-first approach after Houthi rebels have all but seized power

Cheap oil will slow Gulf growth during 2015, say analysts

Reuters poll also says heavy spending by governments and healthy private sector activity will prevent any serious slump

Nakheel confirms Waitrose as first Al Khail anchor tenant

British upmarket supermarket will occupy 35,000 sq ft space at new mall in Jumeirah Village Triangle

Saudi Arabia said to postpone activist’s flogging for 2nd time

Amnesty International says delay of punishment from Raif Badawi made on medical grounds

Vitamin D deficiency in UAE residents one of highest in the world

Residents suffering from the deficiency are prone to osteoporosis, a bone degeneration disease

Gulf foreign ministers condemn Houthi ‘coup’ in Yemen

GCC ministers demand the Houthis withdraw from the palace and the private home of Yemeni President

Saudi’s Mobily swings to huge Q4 net loss

Saudi Arabia’s No.2 telecom operator makes a net loss of more than $607m in three months to Dec 31

Zain Saudi reduces Q4 net loss on internet demand

Telecoms operator has yet to make a quarterly profit since launching services in 2008

Saudi construction giant posts 26% drop in Q4 net profit

Developer Dar Al Arkan says it made losses on financial investments and suffered higher expenses

Kuwait set to base 2015 budget on $40-45 oil

Oil minister says fall in oil price can’t be controlled until oversupply is absorbed

UK minister says deplores flogging of Saudi activist

Foreign secretary Philip Hammond plans to raise concerns about case with Saudi’s deputy foreign minister this week

Kuwait pulls licence of company that publishes critical newspaper

Trade minister cancels business licence of Al-Watan, citing violations of corporate regulations

Dubai’s TECOM Investments signs deal for $1.1bn loan

Business park operator says loan will help to fund general corporate needs, new developments and growth plans

UAE tops global list for trust levels in gov’t, business, media

Edelman Trust Barometer 2015 says 84% of citizens in UAE trust authorities compared to 55% globally

Etihad says remains committed to Darwin Airline tie-up

Abu Dhabi airline denies report that its proposed purchase of a stake in Switzerland’s Darwin Airline was in jeopardy