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Saudi Aramco may shut Jeddah refinery in several years

The refinery, which started operating in 1967, serves much of the country’s western region

Oman, Japan ink deal to promote joint investments

The deal is expected to increase Japanese investments in Oman

UAE, US sign tax agreement

As per the law, all financial institutions in the UAE are now required to disclose information about financial accounts held by US citizens

UAE sees strongest-ever economic year in 2014 – Sheikh Mohammed

The country recorded a 4.6 per cent rise in real GDP last year with nominal GDP reaching Dhs 1.47 trillion

Saudi warns citizens against sharing “faked” documents after Wikileaks release

WikiLeaks published more than 60,000 documents on Friday it says are secret Saudi diplomatic communications

A blueprint for fiscal reform in the GCC

With the recent drop in oil prices, it is imperative that GCC nations remove subsidies and diversify revenues, writes the founder of Nasser Saidi & Associates

UAE’s booming e-commerce market pushes up smart payments

increasing e-commerce spend and a push by governments to encourage cashless transactions are easing more and more consumers into smart payments

Dubai airport sees over 6.5m passengers in April

Passenger traffic at Dubai International rose 5.7 per cent year-on-year in April 2015

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OPEC revenues plunge 11%, fall below $1 trillion in 2014

The oil cartel’s revenues fell from $1.112 trillion in 2013 to reach $993.3 bn in 2014, a new report shows

Dubai among world’s top 25 most expensive cities

Dubai and Abu Dhabi were also ranked most expensive cities for expats in the Middle East, according to a new survey

Reem Island accused’s lawyer calls non-muslim witness accounts ‘invalid’

Alaa Bader Al Hashemi is charged with the murder of American schoolteacher Ibolya Ryan and for planting explosives at the doorstep of another resident

Saudi Arabian Airlines purchases 50 Airbus aircraft

The company did not disclose the value of the deal but other media reports valued it at $8.2 billion.

Saudi opening may be non-event with no licences awarded yet

Saudi Arabia’s Capital Market Authority has indicated it does not want or expect large, sudden fund inflows

China denies its missiles being used by Middle East militants

Experts said that lightweight man-portable air defence systems had been looted from Libya or otherwise acquired by the militants, posing a threat to commercial flights.

Greek debt and UK inflation concerns help the US dollar regain momentum

The month of May has been a testing one for foreign currency markets, writes the chief market analyst of FXTM

Gulf states defend Qatar 2022 World Cup

The UAE’s and Qatar’s official news agencies said Gulf information ministers had called Qatar’s winning of the hosting rights “a success for all the states of the GCC”.

Emirates Global Aluminium says to cut 4% of workforce

The move, which would see around 250 support positions eliminated, is aimed at creating a leaner entity and increasing competitiveness.

Royal Enfield opens first store in Dubai

The store will sell Enfield’s popular bikes such as the Bullet, the Continental GT 535cc café racer, the Rumbler and the retro street model Classic.

Emirates airline sees more opportunities to fly in Europe

CEO Tim Clark says governments, airports and organisations in Europe frustrated with local airlines have asked Emirates to start offering international service

Abu Dhabi airport passenger traffic up 15.5% in April

The busiest routes in April were London Heathrow, Bangkok, Manila, Doha and Mumbai.

Tropical storm Ashobaa expected to have indirect impact on UAE

The storm, which could make landfall in Oman, is expected to cause sea levels to rise in the UAE’s east coast

Qatar Airways CEO sees no need for concessions to US airlines

Al Baker said Qatar Airways expects to deliver its rebuttal to the U.S. airlines’ claims in the next few weeks

Oil prices fall as OPEC keeps production high

OPEC agreed on Friday to stick to its policy of not limiting its output, which currently stands above 30 million barrels per day.

Saudi Supreme Court upholds blogger’s sentence

Raif Badawi was sentenced to 1,000 lashes, a 10-year jail term and a fine of SAR 1 million last year.

Saudi-led air strikes kill 44 in attack on Yemeni army compound

More than 100 people, including civilians, were also wounded in the attack, according to reports.

Emirates obtains naming rights for UK’s Spinnaker Tower

The structure, situated in Portsmouth, will be renamed Emirates Spinnaker Tower and rebranded in red.

Attacks on Shi’ites create pivotal moment for Saudi state

The government has allowed Shi’ites to set up community protection groups to search people entering mosques and checkpoints to monitor entrances to villages after the attacks.

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OPEC agrees to keep pumping as oil glut fears persist

The decision defers discussion of several tricky questions set to arise as members such as Iran and Libya prepare to reopen the taps after years of diminished production.

Stung by FIFA furore, Qatar’s soft power at risk

Qatar must work even harder to protect its brand after U.S. prosecutors charged select FIFA officials with corruption and opened investigation into 2018 and 2022 bids.

Dubai named fourth most popular city among international visitors

The emirate is expected to receive about 14.3 million international visitors this year, up by 8 per cent from 2014, a new study says.