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Saudi sovereign fund creates $1.07bn ‘fund of funds’ to back SMEs

The PIF expects the investments to create 2,600 jobs and contribute SAR400m to GDP by the end of 2020

Saudi to decide timing of fuel price hike by month-end

The energy minister said last week that the hikes were still on the cards for 2017

Dubai’s non-oil growth slows in September

The Emirates NBD Dubai Economy Tracker Index still recorded overall growth for the month

Saudis changing procurement rules to save money, boost local firms

A proportion of procurement budgets would be steered towards smaller companies rather than large enterprises, under new proposals

US approves $15bn missile defence deal with Saudi

The kingdom has been the target of ballistic missile attacks from Yemen since 2015

Gunman attacks Saudi security forces at Jeddah royal palace

An investigation is underway to determine the motive for the attack

Car review: Audi RS3

Damien Reid took the new Audi RS3 to the mountains of Oman, where the spritely saloon was in its element

Kuwait MPs seek signatures to debate scrapping of fuel price increase

Kuwait reduced subsidies on fuel at the beginning of September last year

Kuwait’s hospitals see 30% fewer foreign patients after fee increase

The country introduced new healthcare fees for foreigners on Sunday

Saudi establishes national development fund, appoints two ministers

The kingdom has filled the vacancy for minister of civil service

Billionaire Branson to invest in Saudi’s Red Sea islands project

The businessman detailed a tour of the project in a blog post on September 29

Dubai’s DP World to develop logistics plans for Mali, Senegal

DP world currently operates in the West African market through its Dakar port in Senegal

Oman relaxes visa rules for tourists from Russia, India, China

Tourists who meet the new conditions can now get a visa on arrival

Saudi women to be allowed to drive from age 18

The interior minister said lifting the ban would reduce the number of car crashes in Saudi Arabia

Turkey raises Kurdistan oil threat as flights are cancelled

Kurdish officials say they can withstand an economic blockade

All GCC states to implement soft drinks, tobacco tax by year-end

The tax will see prices of soft drinks increase by 50 per cent and energy drinks and tobacco products by 100 per cent

Women drivers seen reviving Saudi car market

The arrival of women drivers could lift Saudi car sales by 15-20 per cent annually

Saudi king lifts ban on women driving – but what about other rights?

A closer look at some of the biggest outstanding women’s rights issues in Saudi Arabia

Saudi women rejoice at end of driving ban

The move represents a big crack in the laws and social mores governing women in the conservative kingdom

Abu Dhabi to sell Italian exec-jet business to China buyers

An Italian defence firm such as Piaggio Aerospace must notify the government of any big asset sale

Saudi official fired after Yoda textbook mishap

The mistake was widely circulated on social media and made international headlines

Saudi suspends work permit renewals for foreigners in certain roles

The labour ministry has published a list of 19 professions to be filled by Saudi nationals

Dubai International Airport receives record 8.2 million passengers in August

Passenger traffic increased by 6.6 per cent compared to same month last year

Dubai Safari, Frame to open in November

Dubai Safari was originally due to open last year

Saudi’s Shoura Council to discuss introduction of fines, jail sentences for online abuse

The proposed changes would class online abuse towards individuals or institutions as defamation

Saudi says new online system will reduce need for maid recruitment offices

Domestic workers are currently brought to the country via recruitment offices and brokers

OPEC says winning battle to end oil glut

OPEC and its allies have been considering extending a production cut deal beyond the end of March

Saudi sovereign fund PIF launches SAR10bn entertainment investment firm

As part of the investment, an entertainment complex is set to launch in the kingdom by 2019

UAE will defend industries after US dumping accusations

The U.S. Commerce Department said UAE exporters had sold wire rod products at 84.1 per cent below fair value

Dubai’s DP World unit, IGY Marinas to build superyacht marina project

The project in France will offer 12 superyacht berths for the world’s largest vessels