Rise In MERS Cases Prompts Saudi Warning To Residents

The Health Ministry has announced a total of 23 confirmed new cases this month of the virus.

Dubai’s DP World Q3 Gross Volumes Rise 9%

Consolidated volumes, at terminals over which DP World has control, rose 8.8 per cent to 7.3 million TEU.

UAE Telco du Posts 18% Rise In Q3 Profit

The firm made a net profit of Dhs558.7 million ($152.11 million) in the three months to Sept. 30.

Saudi’s Dar Al Arkan Q3 Profit Tumbles As Costs Rise

The company made a net profit of SAR89.9 million ($24.0 million) in the three months to Sept. 30.

Emirates Starts Budapest Flights

New route enhances Hungarian capital’s connectivity to eastern markets

Sheikh Mohammed Announces New Projects Worth Dhs4.5bn In Dubai’s Internet City And Media City

The projects will be built over five years and will include 10 million square feet of space for innovation complexes, technology laboratories and smart buildings.

Saudi Arabia Jails Three Lawyers For Tweets Criticising Judiciary

The three lawyers were convicted of prejudicing public order through tweets which contained opinions against the ruler, and expressed contempt for the judiciary, SPA reported.

Saudi Telecom Beats Estimates With Flat Q3 Profit

The company made a net profit of SAR3.37 billion ($898 million) in the three months to Sept. 30.

Delayed Saudi Wasit Gas Plant To Start Partially Early 2015

Wasit will be one of the largest gas plants not linked to oil wells ever built by Saudi Aramco.

Emaar Chairman Alabbar Welcomes Talk Of Dubai Property Market Slowdown

The International Monetary Fund also said on Monday that rises in Dubai property prices had moderated, and were now less of a concern.

UAE’s First Gulf Bank Q3 Profit Rises 20%, Beats Estimates

The lender made Dhs1.43 billion in the three months to Sept. 30.

Bahrain’s Ahli United Bank Q3 Net Profit Up 14.8%

Net profit for the first nine months rose 30 per cent to $376.3 million.

Dubai Financial Market Q3 Net Profit Rises 85%

DFM made a net profit of Dhs153.5 million in the three months to Sept. 30.

Emaar, Dubai Holding To Develop World’s Tallest Twin Towers In Creek Project

The mega development, spread across six million sq metres, will include residences, integrated transportation systems, and green open parks.

Dubai Airport Passenger Traffic Up 9.9% In September

Dubai International Airport also saw a growth in traffic during the first nine months in 2014, which reached 52 million compared to 49 million during the same period last year.

Dubai’s Aramex Posts 16% Rise In Q3 Net Profit

Third-quarter revenue rose to Dhs922 million, up 12 per cent year-on-year.

Dubai Lender Mashreq Q3 Net Profit Rises 26%

The lender made a net profit of Dhs596.8 million ($162.5 million) in the third quarter of 2014, up from Dhs473.2 million from the same period last year.

Gulf Arab States Saw $780m In Fund Outflows Due To Fed Taper-IMF

Owing to large current account surpluses, the GCC is seen by international investors as better equipped to handle a period of rising interest rates than most areas of the world.

Hard Rock Hotel To Open In Dubai Marina

The hotel, being developed in partnership with Abu Dhabi Financial Group and real estate developer Sheffield Holdings, will be situated in Marina 101 in Dubai Marina.

IMF Retains GCC Growth Forecast But Warns Of Weak Fiscal Balance

The fund has warned that fiscal balances across the GCC and other Middle Eastern countries will deteriorate if the policies continue to remain unchanged.

IMF Says Less Concerned About Dubai Property Prices

A senior IMF official said that risks in Dubai’s real estate market seems to have decreased partly due to the measures taken by the government in limiting speculative buying.

Saudi’s Tasnee Q3 Profit Rises 7.6%

Tasnee made a net profit of SAR243.7 million ($65 million) in the three months ending Sept. 30, up from SAR226.4 million a year ago.

UAE’s Union National Bank Q3 Profit Rises 22%, Beats Estimates

The bank made a net profit of Dhs552 million ($150.3 million) in the three months to September 30, up from Dhs454 million in the corresponding period of last year.

Dubai Investments Q3 Profit Rises 17.4%

The conglomerate said its net profit was Dhs189.1 million ($51.5 million) in the third quarter, compared with Dhs161.1 million in the same period of 2013.

Kuwait Oil Minister Says Lower Oil Prices Won’t Affect Development Plan

Kuwait’s oil minister Ali al-Omair said that he hoped oil prices would soon stabilise at a “level that benefits producers and importers”.

Kuwait Says Technical, Not Political, Reasons Behind Oilfield Closure

Kuwaiti Foreign Ministry undersecretary Khaled al-Jarallah said relations between the two countries were too strong to be affected by discrepancies over oil output from the field.

Saudi Electricity Q3 Net Profit Drops, Misses Analyst Forecast

The company made SAR2.67 billion during the third quarter, compared to SAR2.85 billion during the same period of the previous year

Egypt To Ask Allies For Help After Deadly Sinai Attacks

At least 33 security personnel were killed on Friday in the Sinai Peninsula bordering Israel and Gaza.

Sony To Open World’s First Underwater Xperia Aquatech Store In Dubai

The Japanese electronics giant said that the world’s first Xperia Aquatech store in Dubai is nearing completion and will open on December 3.

Saudi SABIC’s CEO Says Oil Price Decline Is Temporary

SABIC chief executive Mohamed al-Mady said that population growth will push up consumption and oil prices.