News


News from the MENA region


Emaar’s malls unit posts 55% jump in Q3 net profit

Listed subsidiary Emaar Malls Group says it made quarterly profit of more than $87m


Robbie Williams to play Abu Dhabi in April 2015

Former Take That singer will play gig in the UAE during Let Me Entertain You tour


Saudi diplomat arrested for ‘erratic driving’

Diplomat faces four charges but is unlikely to be punished due to diplomatic immunity


Emirates wins court ruling to launch new Johannesburg flights

South African officials reportedly tried to stop fourth daily flight; is now being pursued through diplomatic channels


Saudi’s Mobily asks for temporary suspension of shares

Telecom operator says its audit committee is considering ‘significant matters relating to its financial statements’


Nakheel to lease Palm beachfront spots for new restaurants

Dubai developer says it is now leasing space for 17 new restaurants and cafes on Palm Jumeirah


Dubai’s Emaar posts 21% jump in Q3 net profit

Real estate giant reports net profit of more than $206m despite drop in revenue for three months to Sept 30


Foreign units help Bahrain’s Batelco to 40% Q3 net profit rise

Improved performance for former monopoly which had reported declining profits in 17 of the previous 20 quarters


Qatar’s CBQ reports 79% surge in Q3 net profit

Commercial Bank of Qatar says it made nearly $131m net profit in three months to Sept 30


Abu Dhabi hires regulatory chief for new financial zone

Former Singapore Exchange senior exec joins Abu Dhabi Global Market to oversee regulatory framework


Qatar emir to face questions on militant funding on UK state visit

Sheikh Tamim bin Hamad Al Thani is expected to reject allegations during three-day visit to Britain


Saudi budget carrier suspends long-haul services

Chief executive of flynas says profits on the routes have not met expectations


UAE desert booms again, but builders face cash crunch

Rush of new projects makes it seem as if the collapse of the UAE real estate market six years ago never happened


Safi Qurashi’s Q inks deal to revive six stalled Dubai projects

Company behind the Great Britain island on The World Islands is hired by Empire Arabia to deliver residential, commercial projects


Bahraini opposition group says suspended for three months

Al Wefaq says its activities have been banned ahead of a November parliamentary election which they group plans to boycott


Madame Tussauds says ‘no plans’ for MidEast wax museums

Dubai owns 18% in its parent company and recently resurrected plans for LegoLand Dubai


Real Madrid agrees IPIC deal to help fund stadium overhaul

Spanish football giants announce ‘long term strategic partnership’ with Abu Dhabi investment fund


Qatar’s Ooredoo sees 11% rise in Q3 net profit

Telecoms operator misses analysts’ forecasts as its Iraq business suffers amid continuing unrest


Saudi Telecom beats estimates with flat third-quarter profit

Gulf’s No 1 telecom operator says it made net profit of nearly $900m in three months to Sept 30


Saudi Arabia jails three lawyers for tweets criticising judiciary

Sentences of between five and eight years handed down by Saudi court for messages on Twitter


Tropical cyclone Nilofar ‘will not impact UAE weather’

National Centre of Meteorology and Seismology plays down impact of storm heading for Oman coast


Etihad-backed Air Berlin says cutting 200 more jobs

German carrier announces plan to reduce workforce further to return to profit; has already cut 900 jobs


Abu Dhabi kicks off biggest cruise tourism season yet

Emirate’s Zayed Port set to welcome 93 ships carrying more than 220,000 passengers during 2014-15 season


Top officials confirmed for Dubai’s World Islamic Economic Forum

Total of nine heads of state, 12 ministers, four central bank governors to attend three-day conference later this week


Saudi’s power utility posts 6.5% drop in Q3 net profit

Saudi Electricity Co says it made $711m in the three months to September 30


Dubai-based football chief charged with racism by English FA

Football Association said Gillingham FC breached rules by not paying for black player’s medical bills


Jazeera eyes bid for stake in state-run Kuwait Airways

Chairman Marwan Boodai says preparing to enter bidding process for 35% strategic stake in loss-making carrier


Fitness firm eyes GCC expansion to help fight obesity

DreamBody Centre says it is looking to open over 40 outlets in region as obesity rates increase


Damac opens new hotel suites tower in Downtown Dubai

Real estate developer announces launch of Canal Views, its second project in Burj area of emirate


GCC salaries forecast to rise 5% on average in 2015

New pay forecast data from Hay Group shows UAE workers will get biggest rises this year while Bahrain will see smallest


Dubai fully opens 14km Jumeirah Corniche project

RTA chief says project is a ‘gorgeous addition’ to beachfront; spans six residential communities


Gulf states will have to cut spending as oil price dips – Kuwait finmin

Anas al-Saleh says Gulf countries must undertake ‘comprehensive economic reforms’ amid oil market decline


Rezidor inks deal to expand Saudi hotel portfolio

Hotel giant signs long-term agreement with Al Hokair Group to operate about 30 properties in kingdom


Qatar Airways say to launch A380 to Bangkok in early 2015

Doha-based carrier says superjumbo will start ops to holiday hotspot from January 5


Dubai’s DED, TECOM ink deal to attract Design District investment

Two entities to form teams and strategies to attract retailers, designers and entrepreneurs to d3 project


Emirates exec says airline will not deviate from growth plan

Dubai carrier will continue expansion in spite of challenges posed by political instability, African health issues and oil price volatility


UAE credit bureau chief urges greater GCC collaboration

Marwan Ahmad Lutfi calls for strengthening communication, collaboration to improve approach to credit risk


Alex Ferguson, James Hogan to appear at AB conference

Gaza ‘hero’ doctor David Notts also confirmed for Arabian Business event in Dubai on November 11


Saudi’s SABIC says won’t expand petchems venture with Shell

Petrochemical giant says results of feasibility studies into Saudi joint venture were not encouraging


Boosting a customer’s credit card limit without consent is "foolhardy", says Dubai banker

Mashreq Bank claims it holds quarterly examinations to ensure sales staff don’t mis-sell


UAE cooling firm Tabreed posts 28% rise in Q3 net profit

Tabreed improved its operational efficiencies and cut finance costs during the quarter, says chief executive