UAE’s Majid Al Futtaim Reports Pre-Tax Profit Growth Of 10% In 2014

The retail group said that it aims to double the size of its business within the next five years.

Gourmet Date Company Bateel To Sell Minority Stake – Sources

A stake of between 20 per cent and 40 per cent could be sold, according to three sources with knowledge of the sale.

Dubai-Luxembourg Firm Launches Islamic Factoring For SMEs

Tawreeq Holdings developed the concept over the past year and a half, aiming to give smaller firms a funding alternative to bank loans.

Saudi Arabia Still On Track To Open Stock Market In H1 – CMA

The regulator is expected to issue a final version of regulations covering the opening “very soon”.

Kuwait Slashes Spending Plan, Sees Big Deficit In 2015/16 Budget

The draft budget for the year starting in April envisages spending of KD19.07 billion, down by 17.8 per cent.

Emaar Properties Targets Q2 For $270m Egypt Unit Float

Emaar Misr has a portfolio of investments in Egypt worth around 53 billion pounds.

Qatar’s Masraf Al Rayan Q4 Net Profit Up, Hikes Dividend

Masraf Al Rayan said its net profit for 2014 was QAR2 billion, up 17.6 per cent year-on-year.

Abu Dhabi’s Aabar Gets Nod To Buy 100m More Shares In Arabtec

Should it buy the permitted number of shares, Aabar’s stake would rise to 37.27 per cent.

NMC Health Planning To Dual-List In Abu Dhabi This Year

Three Abu Dhabi firms have listed in London since 2013: Al Noor Hospitals, Gulf Marine Services and NMC Health.

Abu Dhabi Bourse CEO Says Most London-Listed Local Firms Agree Dual-Listing

Three Abu Dhabi firms have listed in London since 2013: Al Noor Hospitals, Gulf Marine Services and NMC Health.

Stock News: Gulf Markets Retreat As Oil, Global Stocks Fall

Brent crude traded just above $48 per barrel as Greece’s election results put pressure on oil and global equities.

Qatar Utility QEWC Q4 Net Profit Gains 9.3%, Beats Estimates

The state-run utility made a profit of QAR360.5 million ($99 million) in the three months to Dec. 31.

Oil Falls After Greek Election Sends Euro Tumbling

Global financial markets reacted to the Greek election on Monday with the euro dropping to near an 11-year low against the dollar.

Qatar’s Economy Minister Appointed Chairman Of Stock Exchange

The exchange’s previous acting chairman was Hussein Ali al-Abdullah, an executive director of the Qatar Investment Authority.

Abu Dhabi Islamic Bank Q4 Net Profit Rises 19.3%

The bank made a net profit of Dhs409.6 million in the last quarter of 2014, it said in a statement.

Abu Dhabi Commercial Bank Q4 Net Profit Jumps 16%, Hikes Dividend

The bank made a net profit of Dhs1.02 billion ($277.7 million) in the fourth quarter of 2014, it said in a statement.

Dubai Islamic Bank Targets 15-20% Loan Growth In 2015 – CEO

DIB’s net interest margin would stay at around 3.6 per cent in 2015, the bank’s chief executive said.

Dubai Islamic Bank Q4 2014 Net Profit Rises 64.1%; Hikes Dividend

The bank’s net profit for 2014 was Dhs2.8 billion.

Stock News: Smooth Saudi Succession, ECB Easing May Support Gulf

The markets of Saudi Arabia, Kuwait, Oman and Bahrain are closed on Sunday because of King Abdullah’s death.

Gulf Banks Flourish In 2014 On Strong Economic Growth

Gulf banks have recorded much improved net profit numbers in 2014 driven by higher loan growth, increased non-interest income and reduced provision charges.

Saudi’s Tasnee Signs $319m Loan To Buy More Of Cristal

In December, Tasnee bought 13 per cent in Cristal – one of the world’s largest producers of titanium dioxide – for SAR1.8 billion.

Bahraini Fund Mumtalakat Won’t Sell Assets To Plug Any Budget Shortfall

The fund holds stakes in Bahraini companies including Aluminium Bahrain, Gulf Air and Batelco.

Different Arab money

Growth In Gulf Arab Oil States To Slow Moderately This Year

Analysts believe GCC governments will be able to use huge financial reserves to keep state spending high.

IMF Cuts UAE’s 2015 Growth Forecast

The Gulf country is expected to see a growth of 3.5 per cent for 2015 and 2016, according to IMF’s latest update.

Abu Dhabi’s Al Hilal Bank Says CEO Berro Resigns

Sarie Ahmed Arar, currently the executive vice president of wholesale banking, will assume the role of acting CEO.

Oman’s Bank Dhofar Mulls Options For Up To $300m Capital Raising

A Tier 1 capital-boosting bond was its preferred method, the bank said.

Stock News: Mobily Weighs On Saudi; Egypt Extends Gains

Saudi Arabia’s main index was nearly flat while Egypt’s bourse rose 1.2 per cent.

Oil Export Losses To Reach $300bn In Middle East

Economies such as Qatar, Iraq, Libya and Saudi Arabia will be hit hardest by the more than 50 per cent decline in petroleum prices, the IMF said.

Saudi Q4 GDP Growth Lowest In Over A Year

GDP, adjusted for inflation, grew two per cent from Q4 2013, down from 2.4 per cent in the third quarter.

Middle East CEOs’ Confidence Has Dropped In 2015

Business confidence was notably down in oil producing countries across the world due to falling crude prices, the survey said.