Libyan Oil Output Shrinks More As Oil Tanks Blaze

Libya is surviving on a mere 128,000 barrels per day from fields connected to the eastern port of Hariga, an oil official said.

AirAsia Search Enters Third Day As U.S. Asked For Assistance

U.S. assistance could include air, surface or underwater detection capabilities, said Rear Admiral John Kirby, the Pentagon press secretary.

Ajman Ruler Approves Increased Spending In 2015 Budget

The 2015 budget is around 23.44 per cent larger than the previous year, a senior official said in a statement.

AirAsia Search Fails For Second Day With Jet Suspected In Ocean

The Indonesian search team suspects the plane is under water with no signal detected from the emergency local transmitter yet.

Sipchem’s New Chemicals Plant To Start Operating In First Quarter

The facility is located in Saudi Arabia’s Jubail Industrial City.

Bahrain Sentences Two Men To Death For Killing Policeman

The verdict was announced by the chief prosecutor of terrorist crimes who said that the three were among 12 people charged with a bomb attack in February that killed the policeman.

Libya Managing Scant Oil Output As Fighting Shuts Major Ports

Output from Libya remains at a fraction of the 1.6 million barrels a day it produced prior to the 2011 ouster of leader Muammar Gaddafi.

Prince Alwaleed’s Kingdom Holding Sells Mövenpick Hotel Bur Dubai

The firm sold off its 100 per cent stake in the hotel to a UAE-based investment firm for $95 million.

Etihad Airways Says Abu Dhabi Airport Resumes Operations

After a two-hour closure, all diverted flights have proceeded to Abu Dhabi and delayed outbound flights have begun departing, a statement said.

Stock News: Gulf Markets Mixed, Saudi Petchems Rise As Oil Edges Up

Dubai’s index fell 0.7 per cent after jumping 2.6 percent on Sunday.

January 3 To Be A National Holiday In The UAE

The announcement follows a previous declaration of January 1 being a paid holiday for all employees in the Emirates.

Abu Dhabi Airport Closes Temporarily Due To Severe Fog

Etihad Airways diverted 15 inbound flights to five other airports in the region including Dubai World Central and Muscat.

LuLu Group To Invest Dhs783m In Major Saudi Expansion

The retailer plans to open eight new stores in the Kingdom over the next 24 months, the company’s managing director said.

Hopes Dim Egypt To Release Australian Al Jazeera Journalist Soon

Greste’s brothers, Mike and Andrew Greste, told reporters in Australia they did not believe their brother would be released before the appeal.

Bahrain Detains The Head Of The Main Al-Wefaq Opposition Group

A lawyer who represents al-Wefaq said the charges against him include incitement against the government, calling for its overthrow by by force and inciting the youth to revolt.

Indonesia Says Missing AirAsia Plane Could Be At “Bottom Of Sea”

The Indonesia AirAsia plane disappeared after its pilot failed to get permission to fly higher to avoid bad weather during a flight from the Indonesian city of Surabaya to Singapore on Sunday.

Kuwait’s Al Ahli Bank’s Chairman Resigns Due To Ill Health

Deputy chairman Talal Mohamed Reda Yousef Behbehani will take over the position of chairman for the bank.

RAK Ceramics’ Bangladesh Unit To Exit Pharma Business

The sell off is part of the company’s efforts to focus on its core business strategy of tile-making, a statement said.

Saudi 2015 Budget Based On Oil Price Around $60 – Analysts

For the 2015 budget, announced on Thursday, four analysts’ oil price estimates are in a range of $55 to $63.

Airbus Says Missing AirAsia Plane Was Delivered 2008

Airbus A320-200 flights are designed to be used intensively on short routes and are favoured by the low-cost airlines that run such routes.

Bisco Misr Takeover Bid Deadline Extended Until January 11

UAE-based private equity firm Abraaj has been battling Kellogg since last month, when the U.S. group scuppered its deal to snap up Bisco Misr.

Dubai Investments Sees $2.7bn Of Property Projects

Dubai Investments is seeking to profit from a market recovery in the emirate after one of the world’s worst property crashes during the financial crisis in 2008.

Saudi Arabia Said To Plan Bourse Opening To Foreigners In April

An official said that the regulator continues to expect the market to open to foreign investors in the first half of next year, though no specific date has been set.

AirAsia Search for Missing Plane Called Off After Day-Long Hunt

Rescue aircraft searching for the plane, missing for more than 12 hours, have returned to base, officials said.

Saudi’s Takween Says Negotiating Price In Savola Packaging Unit Buy

Implementation of the deal would depend on approval by related government agencies.

Saudi’s SAFCO Completes Work On Urea Plant

The plant was originally scheduled to start up in the third quarter of 2014, but was delayed due to construction delays.

Saudi Samba Financial Group Proposes H2 Dividend

The proposed figure is marginally higher than the SAR0.64 per share which the bank paid for the corresponding period of 2013.

UAE’s Marka To Buy Retail Outfit From Dubai World For $60m

The acquisition of Retailcorp will give Marka a network of 15 sporting goods outlets across the UAE, a statement said.

Dubai’s Non-Oil Foreign Trade Nears Dhs1 Trillion Mark

China was Dubai’s top non-oil foreign trade partner, followed by India and the US, figures revealed.

Syria Ready To Discuss Russia Peace Plan Talks, Opposition Dismissive

Although Russia has invited opposition groups to participate in peace talks it did not specify which groups were invited.