Five Saudi stocks to be closed to foreign investors -bourse

The Capital Markets Authority did not specify the reason for these stocks to be off-limits to foreign investors.

UAE tourist spending up 5% in Q1 2015 – report

American tourists accounted for 21 per cent of the overall UAE tourism spend in Q1 2015.

Saudi lost $49bn of foreign reserves in 4 months due to low oil prices

The kingdom’s foreign reserves fell to $683 billion in April, from $732 billion at the end of 2014, a new report shows.

UAE issues law against doping in horse races

The new rule prohibits the administration of banned substances to horses and lays out strict penalties to offenders.

IMF lifts outlook for Saudi GDP, sees bigger budget gap this year

Economic growth is expected to slow in 2016 as lower oil revenues hit state spending, the IMF said.

Abu Dhabi fund ADIA manages more of its billions in-house

The proportion of its assets managed by external fund managers fell to 65 per cent last year from 75 per cent in 2013, the authority said.

Naimi says Saudi oil strategy working, sees stronger demand

The comment indicates Saudi Arabia will likely propose not to change output policy at producer group OPEC’s meeting on Friday.

Qatari couple charged in Texas with abusing household staff

Hassan Salem Al Homoud and his wife, Zainab Al Hosani, were charged with engaging in forced labor and could face up to 20 years in prison if convicted.

Etihad Airways rejects subsidy claims, attacks U.S. airline ‘oligopoly’

The Abu Dhabi airline said U.S. Open Skies policy did not prohibit airlines from receiving shareholders loans.

Revealed: Biggest banks in Saudi Arabia

The top 10 biggest lenders in the Kingdom by 2014 total assets, taken from Gulf Business’ Top 50 GCC Banks list.

Saudi bourse opening could fuel international partnerships – JP Morgan

The market opening could lead to a flurry of foreign funds, paving way for more partnerships among local and international firms.

Egyptian court adjourns Al Jazeera journalists trial to Thursday

The journalists were arrested in December 2013 and originally sentenced to between seven and 10 years in prison.

Qatar sues French far-right official for attacks comment

Florian Philippot, the VP of the anti-immigrant party, accused Qatar of “funding an Islamism that kills” after the Charlie Hebdo attack.

Saudi’s Kingdom Holding sells 50% stake in Mauritius resort to JV partner

Kingdom Holding, owned by Prince Alwaleed Bin Talal, sold its stake in Four Seasons Resort Mauritius to Sun Resorts.

Solar Impulse 2 forced to land in Japan

Poor weather conditions forced the plane to land in Nagoya, officials said.

Majid Saif Al Ghurair appointed new chairman of Dubai Chamber

The chamber also elected two new vice chairmen and other executive committee members.

Etihad starts A380 services to Sydney

The A380 will now operate one of the airline’s two daily services between Sydney and Abu Dhabi.

UAE’s midday work ban to begin from June 15

Firms found flouting the rules will be fined Dhs 5,000 per worker while the penalty will rise to Dhs 50,000 if a large number of labourers are found to be working.

Revealed: Biggest banks in the UAE

The top 10 biggest lenders in the UAE by 2014 total assets, taken from the Gulf Business Top 50 GCC Banks.

Dubai’s DSI says unit wins $95m contracts in Oman

The unit will carry out work on the Oman Convention and Exhibition Centre in Seeb, two hotels in Saraya Bandar Jissah and an airport hangar-related facility.

Qatar land price surge threatens property profitability

Prices have surged to levels that may make even high-margin luxury developments unprofitable to build, experts say.

UAE clears MERS patients, Saudi finds 11 new cases

Gulf countries have been seeing a seasonal surge in the number of MERS cases, a trend that has been worrying experts.

Jazeera Airways lodges interest in buying 35% Kuwait Airways stake

Kuwait Airways Company is currently undergoing a privatisation process by the Kuwaiti government.

GCC’s construction sector to boom despite oil price drop

The Gulf’s construction sector is estimated to reach a value of $172 billion in 2015, a new study said.

Real estate ranked as favoured asset class by UAE investors – survey

Stocks and precious metals were the other favoured asset classes among UAE investors, a Franklin Templeton survey found.

UAE’s R Holding launches retail projects worth Dhs700m

The company is currently building five retail projects in Ajman and two in Dubai, a statement said.

Ramadan likely to start on June 18, Eid to fall on July 17 – Astronomers

Fasting hours are anticipated to stretch for up to 15 hours and 15 minutes at the beginning of the holy month.

Emirates to sponsor FA Cup for the next three years

The FA, which will rebrand the competition as The Emirates FA Cup, did not release any financial details.

Qatar to open embassy in Baghdad as Iraq’s ties with Gulf improve

A rapprochement could help strengthen a regional alliance against ISIL militants who have seized vast areas in both Iraq and neighbouring Syria.

ISIL not significant threat in Saudi Arabia – US military

Friday’s blast killed four people and was the second attack claimed by the Sunni militant group in a week in Saudi Arabia.