Dubai’s RTA Reveals 2014 Budget Of Dhs7bn, Plans 50 New Projects

Around 36 per cent of funds in the budget will be allocated to the traffic and roads agency while 33 per will go to rail agency, according to the RTA.

Nakheel Awards Contracts Worth $11m For Al Furjan, Warsan Projects

The contracts cover infrastructure design and supervision work in the two communities.

Family Blames Saudi Gender Segregation Rules For Student’s Death

Amena Bawazir, a student at the King Saud University in Riyadh, died of heart problems last week.

Italy’s Monte Paschi Foundation In Talks With Qatar For Stake Sale

Qatar sovereign fund is reportedly seeking a 15-20 per cent in the troubled Italian lender.

Saudi Hotel Fire Kills 15 Pilgrims

All 15 were Egyptians and the blaze was started by an electrical short circuit, said reports.

Saudi Arabia’s Mortgage Law To Boost Markets

Changes in Saudi’s mortgage law in 2013 are expected to boost banks in the GCC’s largest domestic market.

UAE Banking: Brighter Prospects Ahead

After some difficult years, there are signs of better times ahead for the UAE banking sector.

Fitch Revises Batelco’s Outlook From Stable To Negative

The revision was mainly driven by Fitch’s concern about regulatory uncertainty in Bahrain, it said.

Qatar’s QNB Aims To Be Largest Lender In ME, Africa By 2017

The lender is looking for acquisition targets in Turkey, Morocco and sub-Saharan Africa.

Congo’s ECAir Launches New Dubai Flight Route

The flight signals the first direct link between Congo and the Middle East.

Papua New Guinea Appoints UBS To Refinance $1.48bn Abu Dhabi Bond

The five-year bond was issued to Abu Dhabi’s International Petroleum Investment Co (IPIC) in 2009.

Emirates Launches First A380 Flights To Barcelona

Emirates will look to funnel Spaniards into Dubai and onto its global network – particularly Asian markets such as Hong Kong and Bangkok.

Oman Signs $35m Railway Consultancy Deal With Italferr

Officials expect to award the first construction contract in 2015.

Dubai Business Licenses Up 12% In Q4 2013

Commercial licenses constituted the major share of total licenses issued in the last quarter of 2013, said Dubai’s Department of Economic Development.

Most UAE Residents Rent Rather Than Buy Property – Survey

Rising property prices have pushed out potential home buyers, finds survey by propertyfinder.ae.

Le Royal Méridien Dubai Undertakes Dhs55m Refurb

New decor, modern technology and two fresh F&B concepts among the changes at established beachfront hotel.

Kuwaiti Lawmakers To Investigate Airbus, Power Project Deals

Lawmakers want to investigate all deals agreed by Kuwait Airways, which is attempting the biggest overhaul of its fleet since 1990.

Saudi Arabia Fourth Largest Defence Spender In 2013

The report estimated Saudi Arabia was spending $59.6 billion, a rise of 8.6 per cent.

Emaar Regains Investment Grade Credit Rating As Dubai Booms

Without a government credit rating, Emaar’s rating is seen as an indicator of investor confidence in Dubai.

Rising Dubai Rents Boost Sharjah’s Retail Sector

Major mall developers are targeting Sharjah’s retail sector as demand surges.

QNB Financial Services Expands Coverage To Saudi, Egypt, UAE

The brokerage is seeing increased interest in the three markets among Qatari investors.

Abu Dhabi’s Largest LuLu Hypermarket Opens In Capital Mall

The new mall is located in Mohammed bin Zayed City.

Sharjah Apartment Rents Rise 33% In Q4 2013

Apartment rents in popular areas such as Al Majaz and Al Nahda rose nearly 38 per cent in Q4 2013, a report says.

Flydubai To Launch Paid-For Meals

Passengers can order the meals – priced at around Dhs40 – through flydubai.com.

Oman To Sell 19% Of Omantel In Two Phases

The first phase is reserved for wealthy local investors and due to finish in March and the second will be open to all Omanis, say reports.

Bahrain Toughens Penalties For Insulting King

Offenders will face a jail sentence of up to seven years and a fine of up to $26,500.

What Property Can You Buy In Dubai For $7m?

A villa in Palm Jumeirah and an apartment in Dubai Marina can be yours for $7 million, according to Knight Frank.

Nakheel Awards Dhs375m Pointe Contract To Drake And Scull Unit

The Pointe, a new Dhs800 million mall on Palm Jumeirah, is scheduled for completion in 2016.

DP World Consolidated Volumes Slip 3.8% In 2013

DP World said terminals controlled by the company handled 26 million TEU compared to 27.1 million in 2012.

Dubai Start-Up Qordoba Raises $1.5m For Product Development

The online content creation company hopes to scale up its offering.