Saudi investor’s Ethiopian farms to raise coffee, tea output

Horizon Plantations and Ethio Agri-CEFT plans to more than double its coffee production and expand tea output.

UAE among top 10 nations best equipped for global change – KPMG

The global change readiness index ranks 127 countries best prepared to respond to political, economic and social change

France, Saudi Arabia seeking to sign deals worth $12bn

The countries set up a joint committee in May to finalise some 20 projects across sectors ranging from defence to transport infrastructure

Saudi Yasref refinery reaches full capacity milestone

The refinery is now processing crude at full capacity of 400,000 barrels per day

Saudi Arabia loses spot as top crude supplier to India, China in May

The kingdom fell behind Nigeria for Indian supplies and lost out to Russia and Angola for crude supplies to China

Qatar building materials costs to surge ahead of FIFA World Cup in 2022

Qatar is set to spend more than $200bn on the soccer tournament as part of a 2030 development plan

Saudi carrier takes 50 Airbus planes in Islamic leasing deal

Dubai-based International Airfinance Corporation will buy the aircraft and lease them to Saudi Arabian Airlines

UAE officials survive bomb attack by Al Shabaab in Somalia

The attack, which was targeted at an aid convoy that included the UAE’s ambassador, took place in Mogadishu’s Hodan district

DEWA awards contracts worth Dhs 1.2bn for 15 substations

The authority is also planning to build three substations, especially to deal with rising power demand during Expo 2020

Top 10 iftars and suhours in Dubai

A list of the top iftars around Dubai this Ramadan, what they charge and their major attractions.

UAE tops MasterCard’s regional growth index

The report attributed the UAE’s top ranking to its perseverance in diversifying its economy away from oil and gas

Qatar building boom proves a challenge for foreign construction firms

Project delays and problems with contracts and bureaucracy have left many in difficulties and their returns uncertain.

Russia’s Lukoil says Saudi Aramco wants to raise stake in Luksar

Luksar is a joint venture between Aramco and Russia’s Lukoil

Delta Air Lines CEO: ‘subsidised’ GCC carriers pose airline industry’s ‘greatest challenge’

Thousands of US jobs are being threatened because of the GCC airlines, alleges Richard Anderson

Qatar teams up with RSE to buy stake in Formula One

RSE is looking to acquire the 35.5 per cent stake from private equity fund CVC Capital Partners

Qatar Petroleum says has laid off staff, to exit non-core areas

Before the restructuring, industry sources said QP had around 14,000 employees

Kuwait oil minister says oil price drop unlikely

Ali Saleh al-Omair predicts gains in the final quarter of 2015 on the back of global growth

Etihad says not in talks to raise stake in India’s Jet

Etihad bought a stake in Jet two years ago giving it a foothold in India’s fast-growing aviation industry

Al Masah Capital’s F&B unit buys Johnny Rockets franchisee

The private equity firm acquired Al Faris Restaurant, which operates the Johnny Rockets franchise in the UAE and Oman.

UAE bank NBF expects market-leading loan growth this year

The bank is expecting to see a double-digit growth in loans this year, the CEO said.

Over 62,000 Dubai passengers to travel via Emirates on June 26

The airline has cautioned passengers travelling from Dubai between June 25-28 to plan for heavy airport traffic

Oman central bank approves Ominvest, ONIC Holding merger

The assent was granted at a board of governors’ meeting on Monday, a statement said.

Etihad buys 4 Embraer Phenom jets for training college fleet

The airline also has an option to buy three more jets from Brazil-based aircraft manufacturer Embraer

Accor opens 15th Saudi hotel, Suite Novotel Riyadh Dyar

The new midscale property is the French group’s fifth hotel in Riyadh

Saudi satire star Nasser Al Qasabi receives death threats from ISIL

His comedy show ‘Selfie’ which debuted last week on MBC, has won praise for daring to mock the hardline militant group

Qatar group to push sports integrity in US even as World Cup award faces probes

Doha-based International Centre for Sport Security will talk about its efforts to boost transparency in bidding processes for major sporting events in the US

Germany frees Al Jazeera journalist despite Egypt’s request

Ahmed Mansour was released after Egypt was unable to dispel concerns about the extradition process

ABN Amro says Dubai employee dismissed for misconduct

The bank said the employee had received about $100,000 from a client and transferred it through his personal account to a third account

UAE’s Etisalat says will allow foreign share ownership

The telecoms firm is lifting a ban on foreign ownership of its shares, with a new cap set at 20 per cent of its stock

Etihad seals $23m deal to promote tourism in Australia

The deal will promote Australia among both business and leisure travellers mainly within Europe