Dubai Developer Emaar’s Villa Sales Drop In Q1

The decline was partly offset by an increase in revenue from its hospitality and rental portfolio.

Saudi Arabia Reports 10 More Deaths From MERS Virus, 20 Other Cases

Five of the deaths were reported on Tuesday and five on Wednesday, according to statements on the health ministry’s website.

Qatar Airways Launches London Business Class and Hofuf Flights

Doha carrier identifies gap for focused premium product on highly competitive route

Different Arab money

Saudi-Based IDB Says Plans Benchmark Sukuk Issue Around May 2015

In February, IDB, which has a top-notch AAA rating, priced a $1.5 billion, five-year sukuk, its largest ever Islamic bond.

MSCI Includes Nine UAE Stocks, 10 Qatari Stocks In Emerging Markets Index

QNB, Industries Qatar and NBAD will be the three largest additions to the MSCI Emerging Markets Index.

UAE’s Dana Gas Q1 Profit Falls 32%

Dana made a net profit of Dhs164 million ($44.65 million)in the three months to March 31, up from Dhs241 million a year ago.

Saudi King Appoints Son As Governor Of Riyadh Province

Moves in the ruling family are closely watched at home and abroad for clues on who will rule the world’s top oil exporter.

Saudi Aramco, Sumitomo Face Higher Costs For Petrochemical Plant Expansion

The expansion plan was originally estimated to cost around $7 billion.

Dubai’s ICD Launches Upsized Sukuk, Smaller Bond Issue – Leads

The fund will now raise $700 million from an Islamic bond with a six year lifespan, up from the $500 million it had previously said it would raise.

Abu Dhabi’s TAQA 2014 Capex Forecast At $2.15bn – CFO

The capex forecast for the year is lower than the $2.37 billion which the company spent in 2013.

Qatar Sets Out Labour Reforms After Rights Criticism, But No Timetable

The proposed reforms include replacing a contentious sponsorship law, known as “kafala”, in which workers need their employer’s permission to change jobs.

Saudi Developer ACWA Confirms Fransi As IPO Adviser

The company said it is trying to get the initial public offering completed this year.

WHO Says Deadly MERS Virus Does Not Constitute Global Emergency

The virus, which causes coughing, fever and sometimes fatal pneumonia, has been reported in more than 500 patients in Saudi Arabia.

Dubai’s Ruler Approves Dhs2bn Creek Front Project

The project will include a floating market, hotels, restaurants, art galleries and shops for Emirati handicrafts.

UAE’s Etisalat Completes $5.7bn Maroc Tel Stake Buy From Vivendi

Etisalat has bought into Maroc Telecom through a separate legal entity, Etisalat International North Africa (EINA).

Many UAE Banks Mulling Use Of Emirates ID As ATM Cards- Official

The EIA official did not rule out the possibility of an extra charge being levied if the banks started using the Emirates Identity Cards for financial transactions.

Oman’s Bank Sohar To issue $182m Capital-Boosting Convertible Bond

The issue, which will be done as a private placement, will help boost the bank’s core capital.

Dubai’s ICD Tightens Price Guidance Ahead Of $1bn Debut Bond

Investor orders worth around $2 billion have been placed so far, a document from lead arrangers said.

US Woos High-Spending GCC Visitors

There has been a marked increase in the number of direct air connections between the two regions in the last year.

Omniyat Unveils ‘ME by Melia’ Hotel Designed By Zaha Hadid In Dubai

The hotel is part of the developer’s Dhs2.5 billion Opus project, located in the Burj Khalifa district in Dubai.

Abu Dhabi’s TAQA Q1 Net Profit Jumps 158%

The firm made a profit of Dhs274 million ($74.6 million) in the three months to March 31.

Saudi Arabia Needs To Spend $213bn On Water, Power In Next Decade

Saudi Arabia’s peak power demand during summer is approaching the total installed capacity of around 60,000 MW, a senior official said.

UAE Declares Holiday For Private and Public Sectors On May 25

Work will resume for both private and public sector workers on May 26, officials said.

Qatar’s Ooredoo Signs Islamic Loans Worth $498m

The company has agreed one-year murabahas – a sharia-compliant cost-plus-profit arrangement -with Qatar Islamic Bank, Masraf Al-Rayyan and Barwa Bank.

Bahrain Has No Date For Planned Diesel Subsidy Phase-Out

Officials had previously said that they would gradually raise the domestic selling price for diesel fuel, almost doubling it by 2017.

Emirates Says Interested In Buying Lufthansa Catering Business

Lufthansa, Europe’s largest airline by revenue, had put LSG Sky Chefs up for sale in 2012 but then abandoned the plans.

Saudi’s SABIC Sees Oil-To-Chemicals Plant Start-Up By 2020

The industrial complex is expected to help provide around 100,000 direct and indirect jobs for Saudis.

Saudi Foreign Minister Says Has Invited Iranian Counterpart To Visit

Iranian Foreign Minister Mohammad Javad Zarif has visited most of Kuwait, Qatar, Oman and the UAE since the nuclear pact.

Lady Gaga Dubai Concert Censored To Respect Culture

Lady Gaga’s concert in Dubai is set for September 10.

Dubai Municipality, Emaar Plan Mega Beachfront Project In Dubai’s Al Mamzar

The mixed-use development is being planned around the 53-hectare Al Mamzar Lake.