Bank Muscat Q4 Net Profit Drops 26.6%, Misses Forecasts

Net profit in 2014 was OMR163.2 million, up 7.3 per cent from the previous year.

Dubai’s Emaar Says Banks Slash Interest Rate On $500m Loan

Emaar said the pricing on the loan had fallen by 1.5 per cent.

Oil Price Drop Unexpected, OPEC Was Right Not To Cut – Kuwait

Oil prices have collapsed about 60 per cent in the last six months.

Samsung Talks To BlackBerry About $7.5bn Buyout – Source

The Korean firm is looking to gain access to BlackBerry’s valuable patent portfolio.

Citigroup Loses Appeal Over Abu Dhabi Fund’s Arbitration

Abu Dhabi Investment Authority is pursuing a second arbitration over its $7.5 billion investment in Citigroup in late 2007.

Saudi Lender NCB Q4 Profit Rises 1.7%, Misses Forecast

The lender made a net profit of SAR1.83 billion($487.6 million) in the last quarter of 2014.

Saudi Cement Q4 Profit Rises 9%, Beats Forecasts

The company made a net profit of SAR269 million ($71.68 million) in the last quarter of 2014.

Saudi British Bank Q4 Net Profit Near-Flat, Misses Forecasts

The bank made a profit of SAR969.4 million ($258.3 million) in the last quarter of 2014.

Dubai Parks And Resorts Begins Work On DreamWorks Zone

The company said that work on the steel structure, in which the animation zone is located, has started.

Kuwait Oil Minister Says Crude Price At Unexpected Levels

The current price fall affects Kuwait and other oil-producing countries, KUNA said, citing Ali al-Omair as telling parliament.

Qatar Petroleum, Shell Halt $6.4bn Petrochemical Project

Prices quoted by companies to build the huge complex showed the project was “commercially unfeasible, a joint statement said.

Saudi Housing Minister Says Aiming To Tax Undeveloped Land

The minister’s comments suggested increasing political momentum for the tax, which could provide the government with additional revenues.

UAE-Based Just Falafel Rebrands As JF Street Food

The company has also launched a global competition to choose new designs for its staff uniforms as part of the rebranding.

Kuwait’s NBK Capital Hires Hamad As CEO, Spins Off Unit

Faisal al-Hamad was previously managing director of brokerage and research at NBK Capital.

National Bank Of Oman Q4 Net Profit Rises 29%

The lender made a net profit of OMR13.2 million ($34.3 million) in the fourth quarter of 2014.

DIB Sets Final Price Guidance For Benchmark Tier 1 Sukuk

The sukuk will be launched and priced later on Wednesday, the arrangers said.

New Dubai Mid-Market Brand Rove Plans 10 Hotels By 2020

Developed by Emaar Hospitality and Meraas, the brand targets young tech-savvy travellers.

Saudi Arabia Mulls Privatisation Of Major Airports

The official, however, did not specify the total number of airports in the Kingdom that will be privatised.

UAE Mulls Labour Law Amendment, New Standard Employment Contract

The amended law aims to reduce the gaps in working conditions between the public and private sectors, says labour minister.

Dana Gas CEO Says Oil Price Collapse Could Delay Egypt Payments

Last September, Dana said it had signed a deal with Egypt that would help it recover most of the money it was owed.

Oil Prices Extend Slide In Commodities Sell-Off

Oil tumbled five per cent on Tuesday, with global benchmark Brent briefly trading at par to U.S. prices for the first time in three months.

Stock News: Mixed Earnings, Weak Oil May Dampen Gulf Markets

Oil slid in early Asian trade on Wednesday after touching its lowest in nearly six years in the previous session.

Saudi Oil Minister Holds Talks With US Energy Deputy

They discussed global oil markets and cooperation on energy and environmental issues, climate change and solar energy use.

Sale Of Kuwait Food Company Americana Falters

Americana, backed by Kuwait’s billionaire al-Kharafi family, operates franchises for restaurant chains including KFC and Pizza Hut.

Saudi’s Yansab Q4 Net Profit Rises 39.7%, Beats Forecasts

The firm made a net profit of SAR617.8 million ($164.6 million) in the fourth quarter of 2014.

Gulf States Plan Laws To Curb Fuel Smuggling

The minister did not specify how the new laws would work, but said details would be released soon.

National Bank Of Kuwait Names Fulaij As Head Of Domestic Business

Salah al-Fulaij had been the chief executive of NBK Capital, the investment banking arm of the bank, since 2007.

Bahrain To Raise Natural Gas Prices For Industry

The price of natural gas sold to industrial users will be unified and raised gradually from April 1, BNA said.

Qatar’s QNB Q4 Net Profit Up 5.5%, Increases 2014 Dividend

The bank reported a net profit of QAR2.5 billion ($686.7 million) for the fourth quarter of 2014.

Dubai World $14.6bn Debt Deal Creditor Vote Set For March 17

Dubai World said that it had received backing from a “substantial majority” of creditors on the new deal which would see part of its debt repaid early.