Etihad’s Revenues Surge 27% In Q1 2014

The airline’s growth in revenue was aided by an increase in passengers resulting from its codeshare and equity partnerships.

Dubai’s IMG Theme Park Gets $327m Islamic Loan

Proceeds will be used to expand the $1 billion Worlds of Adventure theme park.

Saudi Warns Imams Against Talking Politics In Mosques

Religious clerics found preaching about politics during their Friday sermons could lose their jobs, the ministry said.

Saudi Samba Financial Group Q1 Profit Up 7%

The bank attributed the profit rise to a drop in operating expenses.

Exclusive: Dubai Not Building Any Hotels For The Expo – Tourism Chief

The current hotel supply pipeline is only linked to the emirate’s 2020 tourism strategy, says Helal Al Marri, the head of Dubai’s DTCM.

Saudi Cement Co Q1 Profit Falls 16% As Demand Sags

The firm made a profit of $76.3 million in the three months to March 31.

Saudi Arabia Imposes Fines, Jail Terms For Visa Lapses

Police raids and an amnesty on fines for immigration violations last year caused over a million foreigners to leave voluntarily.

Saudi Miner Ma’aden Q1 Profit Falls 48% As Metal Prices Drop

Ma’aden made a profit of 125.2 million riyals ($33.4 million) in the three months to March 31.

Infiniti Middle East Sales Up 19% In 2013

The Japanese car maker sold around 5,892 units in the region during its financial year ended March 2014.

UAE Authorities Assert MERS Not A Public Health Concern

One person died from MERS and five others have been infected with the disease in the Emirates, it was reported last week.

Swiss Chocolate Firm Lindt & Sprungli Opens Dubai Office

The move was facilitated by the emirate’s official foreign investment development agency Dubai FDI.

Gunmen Kill Saudi Guard Near Yemeni Border, Wound Another

The guards came under heavy fire from the Yemeni side of the border at about 3 a.m in the eastern part of Jizan province.

Saudi Banks Urged To Be Less Conservative

A conservative approach to lending has hampered the growth of the Kingdom’s banks, according to a new report.

Kuwait’s Gulf Bank Q1 Net Profit Climbs 10%

The country’s fourth-largest lender by assets said net profit for the first quarter was $31.1 million.

Emaar Launches 480 New Townhomes In Reem Community

The new collection of Mira Oasis townhomes follows strong investor interest, said the Dubai developer.

Saudi’s Yansab Q1 Net Profit Drops 16.7% On Lower Prices

Yansab said the profit fall was due to lower prices and higher sales and maintenance costs.

Saudi Arabia Jails 13 For Aiding Overseas Fighters

They were all given travel bans to come into force after their sentences finish.

Australia Prioritises Gulf Free Trade Agreements

Minister wants to ‘turbo charge’ investment opportunities on back of abundant air links

Saudi Arabia Seizes Drugs Worth $267m, Arrests Six

Police uncovered 22.6 million amphetamine pills hidden inside coils of barbed wire and rolls of plastic.

Kuwait Opposition Calls For Elected Government, Reforms

The Opposition Coalition said parliament should be able to work without the threat of dissolution.

Saudi Liberal Website Closed By Jeddah Court

Local media reported that the website was shut down for publishing anti-Islamic material.

New UAE Law To Award 10% Of Government Contracts To SMEs

The law is expected to be enacted within three months or less, the UAE economy minister said.

Saudi’s SAFCO Q1 Net Profit Drops 9.6%, Beat Estimates

The firm made a quarterly net profit of 843 million riyals ($224.8 million), compared to 932 million riyals in the corresponding period of last year.

Kuwait To Open Main Tenders For New Zour Refinery In May

The refinery, which will become the biggest in the Middle East, will begin operations by late 2018 or early 2019.

Shell, BP Sign 5-6 Year LNG Supply Deals With Kuwait

The total volume of super-cooled gas to be delivered between the two companies would be around 2.5 million tonnes a year, a senior official said.

Qatar Lender CBQ Foreign Ownership Limit Upped To 25%

The bank did not state what its previous cap was but official data showed foreign investors owned 15.21 per cent at the end of Sunday.

LuLu To Open Six New Hypermarkets In Malaysia

The Abu Dhabi-based group will invest around $200 million in its hypermarkets across Malaysia.

German Tank Sale To Saudi Arabia Likely To Be Cancelled

German media have reported interest by Saudi Arabia in buying up to 800 Leopard 2 tanks from Germany.

Saudi Bourse Changes Closing Price Calculation For Shares

In future, the closing price will be the average of all trades in the final 15 minutes, weighted by the volume traded at each price.

Emirates To Stay Put At Dubai International During Runway Maintenance

Move likely to be welcomed by resident and transfer passengers but both airports will be under scrutiny