Dubai Meraas Unit Plans $689m IPO For Theme Park Project

The company will offer 2.53 billion shares at a price of Dhs1 each, in an offer that will run from November 17 to November 30.

Dubai’s Union Properties Q3 Net Profit Drops 26%

The developer made a net profit of Dhs127.93 million ($34.8 million) in the third quarter compared with Dhs171.89 million in the corresponding period of 2013.

Saudi Bank NCB To Start Trading On Wednesday After $6bn Share Sale

The stock will be able to move a maximum of 10 per cent up or down on its first day of trading, the statement said.

Dubai’s Financial Free Zone To Double In Size In A Decade – Governor

The doubling in size would be in terms of floor space, the number of people working in the centre and the number of companies there, the DIFC governor said.

Kuwaiti Bank CBK Says Concerns Over Buyer Cash Behind Bond Cancellation

The bank said several of its customers who have ongoing credit facilities with the bank obtained external funding to subscribe to the bond.

UAE Banks Profit Up 25% In First Nine Months Of 2014

Economic growth and lower provisions for bad debts have fuelled the banks’ profits, the UAE Banks Federation said.

Mumtalakat Hires Banks For Potential Dollar Sukuk Issue

Roadshows start in Kuala Lumpur on Thursday before moving to Singapore, Abu Dhabi and Dubai and closing in London on Nov. 17.

UAE’s Waha Capital Continues Rally After Strong Q3

The firm’s third-quarter profit more than doubled, driven by higher income from its stake in AerCap Holdings.

Dubai’s Union Properties Says Board Did Not Approve Q3 Report

Union Properties did not explain the nature of the required amendments in the bourse statement.

Stock News: UAE Markets Rise, Qatar Flat

Dubai’s index added 1.1 per cent, buoyed by Emaar and Dubai Islamic Bank while Abu Dhabi’s index rose 0.7 per cent.

Omantel Q3 Net Profit Rises 3.1%, Meets Estimates

The company made a net profit of OMR30 million ($77.9 million) in the three months to Sept. 30, up from OMR29.1 million in the year-earlier period.

Qatar Fund May Up Bid For Canary Wharf Owner Songbird

Songbird rejected an initial approach on Friday, saying the 295-pence a share offer significantly undervalued the company.

Dubai’s Limitless To Pledge Revenues To Get $1.2bn Debt Deal – Sources

The state-owned property firm is on track to restructure the debt by the end of the year, when a payment worth a third of the total comes due.

Kuwait’s Burgan Bank To Start $353m Rights Issue On Nov 16

The lender, Kuwait’s third largest by assets, is issuing 216 million new shares.

Dubai Insulated From Oil Price Slide Due To Economic Diversification – S&P

Dubai’s diversification into sectors such as trade, tourism, real estate will ensure that it enjoys favourable economic conditions.

Shares In UAE’s UNB Down On MSCI Disappointment

Some analysts had predicted UNB might be added to the MSCI index, but it was not.

Stock News: Qatar, UAE Stocks Rise After MSCI Index Review

Shares in Dubai’s Emaar Properties and Dubai Islamic Bank, whose weightings also increased, rose 2.5 and 1.6 per cent respectively.

Abu Dhabi’s Waha Capital Q3 Net Jumps On Investment Income

Waha made a net profit of Dhs301.2 million ($82 million) in the three months to Sept. 30, up from Dhs107.1 million in the year-ago period, it said in a statement.

UAE’s Amanat Holdings Says IPO Oversubscribed

The company said in an emailed statement that it collected more than Dhs13.6 billion in its 16-day IPO.

Egypt Received $10.6 bn From Gulf Last Fiscal Year -Minister

Of about 74 billion Egyptian pounds of aid received in the 2013-14 fiscal year, 53 billion pounds was in the form of petroleum products, with the remaining 21 billion pounds coming as cash grants.

Canary Wharf Owner Songbird Rejects Qatar Fund Approach

Songbird’s chief executive said in a statement that the proposal undervalued the company and does not reflect the inherent value of the business.

Agility Eyes 35% Stake Buy In Kuwait Airways -Report

The firm’s chief executive said in an interview that Agility’s plan was based on his company’s strategy of expanding into aviation services.

Saudi’s Savola, Takween Extend Talks Over Potential Plastics Unit Sale

Talks about a potential deal between the two companies had been due to end on November 11 but announced an extension to allow more time to conclude due diligence and negotiations.

Abu Dhabi Fund Holding Off On Virgin Galactic Decision -Source

The backing of deep-pocketed Aabar Investments may be crucial to Virgin Galactic as it struggles to recover from the accident.

French Lawmakers Seek Clarity On Qatar Tax Breaks

Currently, Qatari investors are exempt from taxes on profits made when they sell properties purchased in France.

NASDAQ Dubai To Promote Egyptian Firms’ Dual Listings

The deal between NASDAQ Dubai and Misr for Central Clearing, Depository and Registry (MCDR) establishes technical ties that will facilitate dual listings.

Stock News: Saudi Mobily Shares Plunge For 3rd Day Since Earnings Shock

Mobily’s latest drop takes the stock’s losses to 27 per cent since resuming trading on Tuesday.

Amsterdam’s OCI To Spin Off Construction Business, List In Egypt, UAE

The new company is expected to be named Orascom Construction.

Egypt Receives $1bn Grant From Kuwait

Gulf countries have stepped in to help Egypt since the ouster of Islamist President Mohamed Mursi last year.

Saudi Bank NCB’s $6bn IPO 23 Times Subscribed On Retail Side

A total of 1.25 million subscribers put up a total of SAR310.7 billion for the 300 million shares offered to retail investors.