Licensed investments in Saudi ‘up 99% in 2018’ – report

The Saudi Arabian General Investment Authority also reported a 100 per cent increase in the number of investment expansion requests

Dubai has now become more of an ‘affordable buyers’ market’ – report

Residential capital values in the emirate fell 11.1 per cent in 2018

Saudi to produce 60 GW of renewable energy by 2030, says official

The kingdom hopes to generate 40 GW from solar energy, and 20 GW from wind and other sources

US secretary of state Pompeo urges GCC states to heal rift

Pompeo is currently on a tour of the Middle East

Indian politician Rahul Gandhi meets leaders, workers and supporters in the UAE

The president of the Indian National Congress came to the UAE on a two-day visit

Saudi amends labour law, prevents employers from keeping passports, IDs of staff

Under the new rules, an employee who verbally attacks a manager – even by electronic means – will not receive end-of service benefits

DMCC awards contract for 78-storey tower in Uptown Dubai district

The contract for Uptown Tower has been awarded to BESIX’s Dubai-based entity Belhasa Six Construct

Air France to suspend flights to Riyadh due to route’s poor ‘economic performance’

Saudi Arabian Airlines will continue to operate the Paris-Riyadh route

Dubai’s DP World signs acquisition agreement for Chile port operator

The Dubai port operator said it would offer $502m for 100 per cent equity ownership

Saudi man killed, others injured after clash in Jeddah over parking issue

All those involved in the “mass quarrel” have been arrested

Sheikh Mohammed reviews progress of Dubai’s Museum of the Future

The structure is slated to open in 2020

Emirates says many flights will be cancelled, rescheduled during runway closure

Up to 48 of Emirates’ aircraft will not be utilised during the 45-day period this year

UAE’s ADNOC awards Eni-led consortium offshore exploration blocks

ADNOC plans to boost its oil production capacity to 5 million barrels per day by 2030

Saudi teen who fled family welcomed as ‘brave new Canadian’ in Toronto

Rahaf Mohammed al-Qunun grabbed international attention after she barricaded herself in a Bangkok airport hotel room last week

Saudi Arabia to set up $10bn oil refinery in Pakistan

Last year, Saudi offered Pakistan a $6bn package that included help to finance crude imports

Power letters 2019: Saleh Abdullah Al Abdooli, Etisalat CEO

With its implementation, 5G will provide opportunities for economic growth and massive development

Sharjah’s bailout of Invest Bank signals more restructuring, mergers among UAE lenders

Analysts expect more mergers given a slowing economy, slide in house prices, robust accounting standards and tougher competition

Power letters 2019: Paddy Padmanathan, CEO and president of ACWA Power International

The swing to renewable energy will be faster than any one expects and what can be reasonably forecasted

Foreign investors flock to Saudi bond sale

The order book for the $7.5bn sale of longer-term debt sale peaked at $27.5bn

Saudi to extend expat work visas for two years for no additional fee

In 2017, Saudi had cut the duration of work visas issued to expats at private sector firms to one year

Saudi awards its first wind power project under renewables strategy

A consortium led by France’s EDF Energies Nouvelles and Abu Dhabi’s Masdar won the bid

Airspace management, instability impact GCC growth potential, warns IATA CEO

Region grapples with issues but IATA predicts 6 per cent demand growth in 2019

Aramco to set up refinery in Pakistan under investment pact with Saudi – report

Pakistan expects to sign investment agreements with Saudi and the UAE

Makkah clears up swarms of black crickets at the Grand Mosque, across the city

The insects were seen covering the walls and floor of the mosque

Dubai skyline

Areas in Dubai that saw the biggest rental drops in Q4

With rents continuing to fall, landlords are now eyeing holiday rentals, finds report

UAE and Oman to be ‘fastest growing economies in GCC’ – report

A report by the IIF predicts real GDP growth of 3.1 per cent for both countries in 2019

Two zookeepers injured after facing jaguar attack in Al Ain zoo

The incident reportedly took place after the jaguar’s cage door was accidentally left open

Saudi Aramco to issue bonds in Q2 2019, list in 2021 – energy minister

The oil giant previously considered issuing bonds to help it buy a controlling stake in chemicals firm SABIC

Kuwait pension fund says files lawsuit against UK’s Man Group

The pension fund is seeking $156m in compensation relating to secret contracts between one of its former executives and Man Group

oil-big7

Saudi announces rise in oil reserves after external audit ahead of Aramco IPO

The kingdom’s reserves of easily recoverable oil have long been the world’s largest but few details were public