Dubai Holdings unit says to pull out of Malta telecoms company

Emirates International Telecommunications Malta, which holds a 60 per cent share in Go, did not say how it plans to divest its stake

EU foreign policy chief to visit Saudi Arabia and Iran next week

Federica Mogherini will arrive in Saudi Arabia on July 27 and then proceed to Iran to discuss the nuclear deal

R Hotels awards deal for Palm Jumeirah resort to ANC Contracting

The hotel operator is currently building a 253-room four-star property in Palm Jumeirah

UAE oil price deregulation to boost economy, government finances

The move, which comes into effect from August 1, will increase fuel prices for residents

Saudi-Kuwait joint Wafra oilfield staff told to take leave

The Wafra field was first shut for maintenance on May 11 for two weeks

Abu Dhabi wins bid to host 2020 world swimming championship

The UAE capital beat rivals Lima and Almaty to win the bid

Dubai’s Emaar says committed to India, still part of MGF joint venture

Media reports in India quoted sources as saying Emaar was close to ending its decade-old joint venture with MGF Developments

Bahraini insurer ARIG plans full ownership of Takaful Re

ARIG already owns 54 per cent of Dubai-based Islamic reinsurer Takaful Re

Pentagon chief tells Saudi Arabia: Iran threat is shared concern

In talks with US Defense Secretary Ash Carter, King Salman reiterated support for the deal while voicing some concerns

Affordable housing in Dubai draws residents back from Sharjah

Rents in Sharjah fell 3 per cent quarter-on-quarter in Q2 as a reverse relocation trend to Dubai gained traction, says report

Emirates to launch flights to Bamako in Mali

The service to Bamako will help Emirates improve its connectivity in Africa, the airline said

Dubai’s Emaar Malls Q2 profit rises 43%

Emaar Malls made a net profit of Dhs 412m in the second quarter of 2015

Dubai’s Union Properties says plans three projects worth $544.5m

The developer did not provide any details about the projects

U.S. defence chief in Saudi Arabia to reassure after Iran deal

Ash Carter said ahead of his trip that he aimed to discuss American strategy to counter “Iranian aggression” in the region

UAE energy ministry says to liberalise gasoline, diesel prices

Domestic fuel prices are currently among the lowest in the world because of heavy state subsidies

UAE official: domestic gasoline prices may rise “slightly”

Gasoline and diesel will be deregulated from Aug. 1 and a new pricing policy linked to global levels will be introduced

Sharjah to develop major leisure project, water canal in Dibba area

The new attraction will be located in Al Hisn Island in Dibba area, which is close to Fujairah

Doha, Dubai most expensive Middle Eastern cities for expats

A new index finds that the cities are among the most expensive worldwide for beer and wine

Saudi Arabia considers its own nuclear options after Iran deal

Some Saudis close to the ruling family have warned that if Iran still manages to weaponise its nuclear programme, then the kingdom will have to follow suit

UAE’s inflation rate up 4.2% y-o-y in June

Housing and utility costs saw the biggest jump in June as they rose 10.2 per cent, statistics show

Austrian Airlines to cancel direct Dubai flights

The airline said it was stopping flights to Dubai due to over-capacity on the route

Abu Dhabi Commercial Bank Q2 net profit up 21%, beats estimates

The lender made a net profit attributable to shareholders of Dhs 1.28bn in the second quarter of 2015

New Dhs 2.4bn Tilal City project in Sharjah to have schools, mall

The project will have 11 educational facilities and a massive upscale mall in addition to features such as jogging and bicycle tracks, mosques and other green spaces

Global growth to boost oil prices -Kuwait oil minister

Ali Saleh al-Omair said that Kuwait was confident of being able to carry out its oil strategy and raise output by 2020

UAE’s NMC Health to invest in Saudi, Qatar for Gulf expansion

The company secured an $825m loan from banks in February to pay debt and fund acquisitions

Non-commissioned UAE officer killed in Yemen

The officer was part of the UAE Armed Forces participating in the Saudi-led operation against Houthi rebels in Yemen

UAE helps Yemen restore operations at Aden airport

A team of experts from the UAE are using a mobile air traffic control tower to help resume operations at the Aden airport within the next two days, a senior official said

Abu Dhabi’s TDIC confirms worker died at Louvre museum site

Officials said the worker’s death in June was the first fatality that happened on site

Record Saudi oil inventory seen tied to new refinery, not global glut

The kingdom’s domestic crude oil inventories jumped to a record above 300 million barrels in May

Saudi outreach to Hamas part of wider effort against Iran

Saudi King Salman’s met with Hamas leader Khaled Meshaal on Friday