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

Chairman of Abu Dhabi’s Al Hilal Bank resigns

Ahmed Ateeq al-Mazrouei, chairman of the lender since 2008, has left for personal reasons, sources said

Abu Dhabi’s Emirates Motor Company closes $175m debut loan

Noor Bank was the initial lead arranger for the syndicated structured facility

UAE issues new law against religious discrimination, hate crimes

Violators will face jail-terms of between six months to 10 years and fines ranging from Dhs 50,000 to Dhs 2m

Damac subsidiary launches Versace branded project in London

Located in the Nine Elms regeneration area, the 50-storey project is slated for completion in 2020

Bahrain summons Iranian ambassador over Ayatollah Khamenei’s comments

The Iranian leader had said on Saturday that the country would support “oppressed” people in Bahrain

Will Qatar survive as the 2022 World Cup host?

Moving forward from FIFA’s corruption debacle will be difficult, whether Qatar has acted ethically or not

Dubai’s DEWA announces financial close of phase II of mega solar park

The 200MW IPP phase II project of the Mohammed bin Rashid Al Maktoum Solar Park is slated to be operational by 2017