Saudi Foreign Affairs Minister Undergoes Back Surgery In The US

Prince Saud Al-Faisal is undergoing physiotherapy following the surgery, the official Saudi Press Agency announced.

Japan Condemns Apparent ISIL Execution, Demands Hostage Release

Japanese Prime Minister Shinzo Abe called the apparent killing of Haruna Yukawa “outrageous and impermissible.”

Unit Of Dubai’s Drake & Scull Wins $49m Contract

Gulf Technical Construction Co will provide civil, architectural and MEP services for a high-rise residential tower in Dubai.

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.

Obama, World Leaders Head To Saudi Arabia To Offer Condolences

Russia’s PM Dmitry Medvedev, UK’s PM David Cameron and French President Francois Hollande are also visiting Saudi to offer condolences.

Dubai Airspace Faces Temporary Shutdown Due To Unofficial Drones

Officials said that the drones were flown for recreational purpose by members of the public.

US Firm CH2M HILL, UK’s Mace Win Bid To Build Dubai Expo 2020 Site

A consortium led by the two firms will undertake the construction of the Dubai Trade Centre Jebel Ali development.

Dubai Builder Arabtec Wins $152m Contracts In Abu Dhabi

The contracts, awarded by ADNOC and ADCO, were awarded to Arabtec’s Target Engineering unit.

Ultra Electronics Says Oman Airport IT Contract Terminated

The contract was worth about 207 million pounds when won in 2011.

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.

Dubai International Airport: Flying High

A bustling hub for global aviation, Dubai International Airport has not sat idle when it comes to large-scale investments in expansion and upgrades.

New Saudi Deputy Crown Prince Marks Generational Shift

Saudi Arabia’s Interior Minister, Prince Mohammed bin Nayef, was named Deputy Crown Prince on Friday.

UAE Announces Three Day Mourning For Saudi King

UAE President Sheikh Khalifa praised King Abdullah as one of the most notable leaders of the Arab region.

Saudi King Abdullah Dies, New Ruler Is Salman

King Abdullah, 90, had ruled Saudi Arabia as king since 2005 and was hailed as a great reformist.

OPEC+meeting

New Saudi King Seen Holding Line On OPEC Policy

King Salman is expected to broadly continue Abdullah’s policies, analysts say.

Profile: New Saudi Ruler King Salman Bin Abdulaziz

The 79-year-old King Salman will have to navigate turmoil caused by violence across the region.

Saudi Arabia To Delay Activist’s Flogging For Second Time

Badawi, founder of the “Free Saudi Liberals” site, was sentenced last year to 10 years in jail, a fine of SAR1 million and 1,000 lashes.

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.

Pullman Opens In Jumeirah Lakes Towers

Second Pullman hotel in Dubai targets business and leisure travellers in the fast-growing community

Asian workers take a break at Friday Market in Kuwait City

Kuwait To Arrest 100,000 Illegal Expats

The crackdown will be the largest operation ever, conducted by the authorities in Kuwait, an official said.

Oil Prices Rise Above $50 Ahead Of Expected ECB Move

The ECB’s Executive Board has proposed a programme that would allow it to buy $58 billion of bonds a month starting in March.

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.

Nakheel Wins Court Case Against Owner Of Britain Island On The World

Safi Qurashi has been ordered to pay Dhs11 million to the property developer for a case relating to the Dubai Waterfront project.

Dubai’s DEWA Will Not Raise Electricity Rates In 2015, 2016 – CEO

The decrease in oil prices has not had an impact on electricity generation in Dubai, said Saeed Al Tayer.

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.

Lord Mayor Of London To Visit UAE To Boost Finance Ties

Alderman Alan Yarrow will visit Abu Dhabi and Dubai during his trip next week, part of wider 12-day GCC visit.

UAE Urges More GCC Cooperation To Solve Air Traffic Congestion

Air traffic in the GCC is expected to grow by six per cent over the next few years, a top industry official said.