Abu Dhabi’s ADNOC rated ‘AA’ by Fitch, the highest in the GCC region

The rating is the first assigned to ADNOC and is in line with the rating of the Abu Dhabi government

Professionals in Saudi to see biggest salary hikes in the region this year

Sectors such as IT, manufacturing, logistics, finance, banking and education will see an improvement in the job market

New underwater training centre for countering hostile submarines to open in UAE

The centre will be developed by France’s Thales Group along with Atlas Elektroniks in Abu Dhabi

Dubai’s Emirates to launch new service to Portugal’s Porto

The four times weekly service will be launched in July

Dubai’s Drake & Scull replaces three senior execs including CFO

DSI, hit hard by the construction slowdown in the region, has seen several leadership changes

S&P says Dubai home prices to fall further in 2019

A gradual stabilisation is expected in the market in 2020

Corruption complaints up 50% in Saudi Arabia

The Saudi National Anti-Corruption Commission received 15,591 reports in 2018, compared to 10,402 the previous year

Saudi prince dies, UAE leaders offer condolences

Funeral prayers for him will be held on Tuesday

Jumeirah opens luxury Al Wathba desert resort and spa in Abu Dhabi

Spread across over 22,000 sq m, the property features 103 guest rooms and villas

Dubai’s DMCC opens new coffee centre, in talks with major coffee traders

The centre can handle up to 20,000 tonnes annually of coffee, equivalent to $100m

Indian state to move planned Saudi Aramco refinery after farmers protest

The $44bn refinery is slated to become the largest in the country

Raytheon wins $1.5bn UAE air force contract

The UAE armed forces signed a total of Dhs7.2bn in contracts on Monday

Dubai’s DWC to see 700% rise in flights during DXB runway closure

Dubai International airport’s southern runway will be closed for a complete refurbishment from April 16 to May 30

Saudi Crown Prince orders the release of over 2,100 Pakistani prisoners

The move came during Prince Mohammed’s visit to Pakistan

Saudi’s military company eyes $10bn revenue in next five years

Saudi Arabian Military Industries wants exports to account for 30 per cent of its revenue by 2030

UAE’s new excise tax tobacco scheme to apply to shisha from Q4

The scheme works by means of a digital stamp on tobacco product packaging that ensures tax compliance

Emirates Lit Fest reveals Dhs20,000 ‘golden tickets’

The five tickets are reminiscent of Willy Wonka’s famous prize in children’s novel Charlie and the Chocolate Factory, and bring with them an array of privileges

Lego opens new MEA headquarters in Dubai as it expands across the region

The new regional headquarters will cover 68 markets across the region

Russia begins implementing visa waiver for UAE nationals

The two countries had signed a mutual visa waiver agreement last year

Saudi says investigating the death of its student in the US

Al-Barqi was found dead in his apartment on February 1 in San Diego

Saudi denies reports that Crown Prince is planning to buy Manchester United

A media report had claimed that the Saudi royal was offering a hefty bid to acquire the English football club

UAE’s Emirates Development Bank hires arrangers for dollar bond

Emirates NBD Capital, Industrial and Commercial Bank of China Ltd, and Standard Chartered Bank have been hired as joint lead managers

Saudi Crown Prince begins Asia tour with $20bn Pakistan investment pledge

The crown prince said the $20bn represents only the start of an economic tie-up that would bring the countries closer.

Saudi Arabia signs warship construction deal with France’s Naval Group

Saudi Arabian Military Industries (SAMI) made the announcement at the IDEX military exhibition in Abu Dhabi

Saudi slashes visit visa fee for Pakistanis

The single-entry visit visa fee has been cut from $533 to $90

Mandarin Oriental opens Dubai city resort, marks regional debut

The property marks the luxury operator’s first new hotel in three years

Emirates named second most ‘intimate brand’ in the UAE

Tech company Apple topped the ranking by MBLM, with Ford, Mercedes and Audi making up the top five

UAE announces military deals worth over Dhs4.9bn at IDEX

Military deals worth Dhs3.87bn were signed with international companies

Etisalat will have UAE ‘ready for 5G’ this year

The telco is building 600 5G sites, and 300 5G towers, which will be ready before 5G handsets are rolled-out

More than half of Boeing’s Middle East deliveries go to UAE carriers

Some 54 per cent of Boeing’s commercial deliveries in the Middle East went to aviation giants Emirates, Etihad, and flydubai