Dunia Finance Posts 91% Profit Increase For H1 2013

Dunia posts Dhs55.6 million profits; Dhs166.4 million revenues

Formula One Teams Schedule 2014 Tests In Middle East

Dubai, Abu Dhabi and Bahrain are under consideration to hold the tests.

Is Bahrain’s Gulf Air Finally On A Flight To Recovery?

The airline, undergoing a restructuring process, said that year-on-year losses reduced by over 50 per cent in the first half of 2013.

Sharjah Rents Soar By 16%, As Dubai Residents Migrate

Apartments in areas like Al Nahda and Al Majaz recorded a rental hike, while villa price hikes varied depending on location.

Prince Alwaleed Says Saudi’s Oil Dependence Is Cause For “Worry”

In an open letter to Oil Minister Ali al-Naimi, Prince Alwaleed said oil demand from OPEC states was declining.

Saudi Arabia Awards $22.5bn Contracts To Build Riyadh Metro

The project is the world’s largest public transport system currently under development, said Saudi officials.

Bahrain Orders Tougher Penalties Ahead Of Protests

Bahrain’s lawmakers agreed to proposals including stripping those who commit or call for ‘terrorism crimes’ of their nationality.

The UAE’s Foreign Direct Investment Windfall

The UAE is banking on its geographic location and high growth potential to attract increasing foreign direct investment from across the world.

Saudi Food Sales To Hit $70bn By 2016

A growing population and increased consumer spending are expected to drive the Kingdom’s food and agricultural sectors.

LG Launches Flagship Optimus G Pro In UAE

The Optimus G Pro, priced at Dhs1,999, comes with a 5.5-inch Full HD display and a 13MP rear camera.

Jeddah Tourist Numbers Drop 75% During Ramadan

Officials attribute the low visitor numbers to lack of adequate tourism promotion.

Saudi Local Salaries Decline 10% Due To Inflation

Survey finds that male salary levels fell by SAR 371, while female salaries dropped by SAR 211.

Liberals, Smaller Tribes Win Seats In Kuwait Vote After Opposition Boycott

The mainly Islamist opposition boycotted the poll in protest against a new voting system announced last year.

Etihad And Serbia’s JAT To Sign Partnership Deal On August 1

The two airlines agreed to share route-booking codes in April but stopped short of an equity tie-up.

Qatar Grounds A Boeing 787 Due To Minor Glitch

The 787 has suffered a spate of mishaps in recent weeks, including a spontaneous fire on an Ethiopian Airlines-owned aircraft.

Kuwaitis Head To The Polls For Sixth Time Since 2006

The parliamentary election was boycotted by the main Islamist opposition.

Saudi Man Dies In Kingdom From MERS Coronavirus

The death toll from the SARS-like virus in the Kingdom has now reached 39.

Dubai’s Unshakeable Confidence

The emirate’s will to succeed will always cancel out the naysayers, writes leadership expert Tommy Weir.

Interview: Mpetjane Kgaogelo Lekgoro, South African Ambassador To The UAE

Exclusive: Lekgoro tells Gulf Business about growing trade and business ties between South Africa and the UAE.

Kuwait Elections: Ruling Emir Puts Diplomacy First

The Gulf state is holding a snap parliamentary election on July 27.

Qatar Luxury Group To Launch Boutique

The boutique, for its luxury brand Qela, will launch in Doha in late September and will sell leather goods, shoes, jewellery and clothing.

China’s Sky City Not An Immediate Threat To Burj Khalifa

Sky City, China’s most ambitious development, has faced criticism over its nine-month deadline.

Shale Gas Will Not Affect GCC Oil Demand – Report

The latest developments in fracking technology will not affect GCC oil demand negatively.

Fee Income Helps Dubai’s Mashreq Post 25% Profit Leap

The profit increase came despite a 20.9 per cent jump in impairments.

UAE’s Julphar Posts 5% Rise In H1 Net Profit

The pharmaceutical company said that sales during the first half of the year rose 11 per cent.

16% Of Qatar Residents Found To Have Diabetes

A mass public screening campaign raised awareness about the symptoms of diabetes among Qataris.

UAE Telco Du Posts 46% Rise In Q2 Net Profit

The operator said that data services and postpaid customers are driving revenue growth.

Nakheel Has “Cheapest Service Charges In Dubai”- Chairman

The Dubai developer says it has slashed service charges across many of its properties in Dubai.

Saudi Aramco Plans New Gas Plant At Fadhili

The plant is estimated to have a processing capacity of 1 billion standard cubic feet per day of sour gas.

UAE Embassy Compound Attacked In Libyan Capital

No injuries have been reported and an investigation is underway.