Dubai F&B firm Restaurant Secrets to lease five properties from Emaar

RSI will now operate a brand new concept called The Loft at Dubai Opera

Lower VAT threshold to increase taxpayer base by 150,000 in Saudi – KPMG

From January 1, 2019 those with revenues of between SAR375,000 and SAR1m will also be subject to the tax

Kuwait announces initiative for $200m technology investment fund

The GCC state will give $50m to the fund to allow investment in the fields of technology and digital economy

Bahrain to develop ‘world’s largest’ underwater theme park

The dive site will have a 70-metre long decommissioned Boeing 747 as its centerpiece, the largest aircraft ever to be submerged

Saudi police arrest expat who made $3.7m through ‘sorcery’ scam

The man reportedly duped people by telling them that he would double their money using sorcery

UAE’s FTA reveals four conditions for business visitors to recover VAT

The minimum claim amount of each VAT refund application submitted by business visitors is Dhs2,000

Abu Dhabi’s Aldar says buyers ‘queued up overnight’ to invest in its new Dhs2bn project

Prices at Alreeman start from Dhs690,000 for villa plots and Dhs4.69m for commercial plots

Dubai road renamed in honour of Expo 2020

The 15km long Jebel Ali Lehbab Road will now be known as Expo Road

Cryptocurrency, SME platform among initiatives launched by Saudi-UAE alliance

The seven new measures cover integration in the fields of financial markets, tourism, aviation, entrepreneurship, customs and security

Saudi plans oil refinery, petrochemicals plant in South Africa

The kingdom already supplies 40 per cent of the crude oil consumed in South Africa

Saudi pumps money into once-restive Awamiya district

The kingdom has spent over $60m to rebuild al-Musawara and another $230m to compensate residents for hundreds of razed homes

How GCC executives should approach leadership in 2019

Does the market manage you, or do you take the lead, asks Nicolai Tillisch

Waldorf Astoria set to open 275-room DIFC hotel later this year

The hotel is Waldorf Astoria’s first ‘city’ hotel in the UAE

Saudi Aramco hires Japan’s SMBC, Riyad Bank for Amiral project financing

Amiral is a petrochemical project that Aramco plans to develop with France’s Total

‘World’s-first’ hyperloop system to open in Abu Dhabi in 2020

The system will cost up to $40m per km, although its operator says the amount can be recouped within 15 years

Two Saudis executed on murder charges

Saudi uses the death penalty for several offences including murder, drug-related crimes and terrorism

Flydubai taps banks for $300m loan

The debt facility is needed for aircraft pre-delivery payments, sources said

UAE bans import of poultry, meats from parts of Russia on bird flu fears

The ban will not apply to the import of thermally-treated poultry products (meat and eggs)

Saudi’s NCB set to pick JPMorgan to advise on bank merger talks

Saudi’s biggest lender is holding merger talks with smaller rival Riyad Bank

Abu Dhabi’s Etihad to cut 50 pilots after big loss last year – sources

The Abu Dhabi-based carrier employs 2,065 pilots

Air Arabia begins legal proceedings against Abraaj founder

The airline disclosed last year that it had an overall exposure of $336m to Dubai-based Abraaj

Dubai’s Emirates to operate A380 to Jordan’s Amman for four months

The jumbo jet will be operated on the route from June 1 until October 26

UAE residence visa

UAE grants first set of long-term visas to 20 scientists, researchers

The UAE announced late last year that it would grant 10-year residency visas to certain expatriates

Etihad operates first commercial flight using UAE-sourced sustainable fuel

The Etihad Boeing 787 flight flew from Abu Dhabi to Amsterdam

Saudi’s Samba bank 2018 profit up 10%, meets forecasts

The bank attributed its increase in profit to a rise in net special commission income

Saudi to begin construction at $500bn NEOM development in 2019

The work on the first phase of NEOM Bay, an urban project, will be completed in 2020

Dubai Frame receives one million visitors in its first year

The 150m structure opened in January 2018

Dubai’s Emaar launches Expo golf villas starting from almost Dhs1m

The three and four bedroom villas are located in the Emaar South community

Louvre Abu Dhabi to exhibit Dutch masters Rembrandt and Vermeer

Masterpieces from The Leiden Collection and the Musee du Louvre will be on display from February 14

New youth council launched to empower Emirati talent

The Dubai Government Youth Council aims to encourage young people’s creativity, innovation and leadership skills