The trials and tribulations of renting a property in Dubai

By following a few simple steps renting in Dubai can become a lot easier, writes Toby Young managing director of propertyrights.ae

ISIL weaves web of support in Gulf Arab states

Kuwait attack has raised concerns about the number of young Saudi men willing to travel to attack Shi’ites in smaller Gulf countries, taking advantage of the visa-free travel

UAE to finish drafting corporate tax, VAT laws this quarter

Authorities are still evaluating the social and economic impact of the laws, but drafting was expected to be finished “very soon, an official said

Bahrain’s Cineco pens deal to open $6.5m Cineplex

Cineco will open a six-screen complex at Wadi Al Sail mall in Al Riffa, Bahrain

Saudi economy accelerates in Q1, may not be sustained

Gross domestic product, adjusted for inflation, grew 2.4 per cent from a year earlier in the first quarter

Dubai airport passenger traffic up 23 per cent in May

Passenger numbers climbed to 6.2 million in May – up from 5 million a year earlier

Emirates starts A380 Dusseldorf flights

Western city becomes third in Germany to welcome the superjumbo

Mohamed Alabbar to acquire stake in YNAP from Richemont

Emaar chairman Mohamed Alabbar launches real estate educational institute

The institute will develop a talent pool of senior managers and project developers in order to expand the UAE’s real estate sector

Dubai’s Drake & Scull increases GCC ownership limit to 100%

Nationals from the UAE currently hold 51.02 per cent of the company’s stock, with the remaining GCC nations owning 5.85 per cent

Abu Dhabi’s TAQA says not holding merger talks

The company “confirms that it is not engaged in merger discussions with any government or other entity”, it said in a statement to the bourse

Kuwait parliament approves budget with $27bn deficit

The budget for the year features spending of KD19.17bn and revenues of KD12.2bn, assuming an average oil price of $45 a barrel

Oman central bank sets up Islamic banking department

The creation of a separate Islamic banking department will clear the way to develop the industry in the country

Kuwait arrests two police officers in crackdown on militants

About 90 people have been detained by authorities investigating the attack on a Shi’ite Muslim mosque in Kuwait City

Saudi’s Alwaleed to give $32bn to charity in coming years

Prince Alwaleed said some of the donated wealth will include his personal stake in his investment firm Kingdom Holding

Saudi government acquires stake in Virgin Mobile’s local operations

Virgin Mobile said the investment would be used to grow its regional operations

ENOC presses ahead with Dragon Oil takeover amid shareholder protest

ENOC published its offer document on Wednesday, showing the deal is moving ahead

Abu Dhabi’s IPIC 2014 net attributable profit drops 37%

IPIC made a net profit attributable to equity holders in the parent of $1.21bn against $1.92bn in 2013

Dubai to begin linking health insurance scheme to visa renewal

The regulation will be enforced from August 1, 2015 in order to ensure that all companies comply with the new rules

Kuwait in “state of war” with militants, warns of other cells

Kuwaiti authorities have detained 60 people in connection with the bombing and closed a charity for alleged militant ties in raising funds for Syrians

Abu Dhabi considers state-backed merger for troubled TAQA – sources

Billions of dollars were spent on assets and expansion but the recent oil drop has impacted TAQA’s operations.

Emirates rebuts subsidy claims with new report

The carrier said it has paid the Dubai government – its parent firm – nearly $3bn in dividends and is financially transparent with no room for subsidies.

Dubai plans to construct world’s first 3D printed building

The project is the first major initiative of the ‘Museum of the Future’, a scheme to develop and deploy cutting edge prototypes across Dubai

UAE man jailed for tweets critical of high court

Nasser al-Faresi allegedly called the proceedings of a 2012 sedition trial a “judicial farce” and insulted the UAE’s president and Abu Dhabi’s crown prince

Top 10 countries with best residence-by-investment schemes

The UAE ranked 15th in an index rating countries’ residency-in-return-for-investment programmes

Kuwait detains 60 suspected of Islamist militant links

Arabic-language al-Qabas newspaper quoted security sources as saying that 60 people, including Kuwaiti citizens and nationals of other Gulf states, were detained.

Saudi central bank May net foreign reserves drop 1% to $672bn

Assets dropped by 8.1 per cent from a year earlier to their lowest level since April 2013, central bank data showed

Abu Dhabi finance zone gears up to open with draft rules

The drafts will be available for public comment over a six-week period, and the zone plans to accept its first applications for financial service operating licences by the end of this year

Etihad signs codeshare deal with Pakistan International Airlines

Through the deal, both airlines will place their code on each other’s flights between Abu Dhabi and Pakistan

Nakheel awards Dhs550m contract for Deira Islands coastal work

The contract includes construction of 8.5km of beaches, 3.5km of quay walls and 9.5km of rock revetments at two of the four Deira Islands

Saudi regulator maintains Mobily shares halt until restated financials disclosed

Mobily shares have been suspended since June, when the market regulator halted trading until the operator disclosed the financial impact of an investigation into its accounts.