UAE criticises EU over opening to Iran

EU foreign policy chief Federica Mogherini has failed to understand Iran’s aims, a senior UAE minister has said

Qatar’s Ooredoo Q2 net profit falls 39% on Iraq, forex

The telecom operator’s profit drop marks the sixth decline in eight quarters

Dubai property sales prices down 8% since June 2014 – report

The market is expected to see a further drop in prices during the second half of the year, says JLL

Dubai regulator fines Arqaam $50,000 over money laundering rules

A periodic risk assessment by authorities identified deficiencies in Arqaam’s systems and controls to prevent money laundering

UAE credit growth expected to be nearly flat in 2015 – Mashreq CEO

He also forecast that the country’s banking sector profits would rise about 10 per cent in 2015

Saudi soldier killed in shooting in eastern district

Authorities have reportedly arrested two people suspected of being linked to the incident

Dubai most searched-for destination by US jobseekers

The UAE city beat London and Singapore, finds new report by Aetna

Dubai airport traffic rises 16.7% in June

Traffic rose to 5.91 million passengers from 5.07 million the same time last year

UAE fuel price hike will not affect consumer goods prices – ministry

The UAE will be deregulating gasoline and diesel prices from August 1

Etisalat’s net profit falls 40%

The telecom operator blamed the drop on its troubled Saudi Arabia affiliate Mobily and foreign exchange losses

Kuwait awards $11.5bn contracts to build al-Zour refinery

The signing of all the contracts is expected to take place in early October

Saudi-led raid on Yemen plant appears unlawful – Rights Watch

The coalition may have committed a war crime when it bombed two residential compounds, killing 65 people including 10 children, HRW said

Qatar Airways, flydubai reject reports of interest in India’s SpiceJet

Qatar Airways said the only airline it is talking to regarding a stake purchase is low-cost carrier Indigo

UAE to raise gasoline price 24%, cut diesel 29% in August

The price of a litre of octane 95 gasoline will climb 24 per cent to Dhs 2.14 at the start of August

Bahrain links explosives in Tuesday bombing to Iran

On Saturday, the government said it had foiled an explosives smuggling plot by two Bahrainis with ties to Iran

UAE gasoline price hike will not have a major impact on consumers – experts

The price of a litre of octane 95 gasoline will rise by 24 per cent to Dhs 2.14 at the start of August

DP World begins $1.6bn Dubai port upgrade; says H1 container volumes up

The Dubai-based company handled 30.6 million twenty-foot equivalent units in the first half of the year

Two Bahraini policemen killed in bombing, Iran link probed

The bombing targeted policemen on duty in the Sitra area, the interior ministry said

Dubai real estate agency S&K shuts down, files for bankruptcy

S&K Estate Agents (also known as Smith and Ken) has been handed to liquidators in a process to pay back creditors

Emirates to launch second daily service to Lisbon from Jan 2016

The new service will be operated by a Boeing 777-300 aircraft and follows strong demand on the route, the airline said

Saudi Arabia accuses Iran of making threats to Bahrain

The kingdom’s foreign minister said Tehran was intervening in its neighbours’ internal affairs

UAE to cut state spending by 4.2% this year – central bank

Consolidated government spending is expected to drop to Dhs 460.6bn in 2015 from Dhs 480.8bn in 2014

Standard Chartered appoints audit head as new UAE chief executive

Group head of internal audit Julian Wynter will replace Mohsin Nathani, who resigned from the bank in April, sources said

Houthis, Saudi-led coalition fight on as Yemen ceasefire quickly unravels

The Arab coalition fighting the Houthis had announced a five-day truce from 11:59 pm on Sunday to allow in emergency aid

RBS ends plan to sell UAE transaction services to ADCB

The deal was called off in part because ADCB asked at a late stage to select which of RBS’ customers it would take, sources said

Dubai Financial Market Q2 net profit drops 48%

The firm, which runs securities trading in Dubai, made a net profit of Dhs 132.4m in Q2

LuLu group buys London’s Great Scotland Yard building for $170m

The iconic building is currently being converted into a five-star hotel

Nakheel posts 53% net profit rise in first half of 2015

The company attributed the increase in profit to a rise in property handovers

Drake & Scull wins Dhs 281m deal for Kuwait education project

DSI will undertake mechanical, electrical and plumbing works for the educational institution, slated for completion in 2018

British man arrested in Abu Dhabi airport for “insulting the UAE”

The man was also accused of verbally abusing security officers at the airport