Qatar Petroleum to restructure following oil price fall

Earlier this year, QP said it would absorb its international unit, QPI, into its structure.

Majid Al Futtaim to invest Dhs1bn in VOX Cinemas until 2020

The funds are aimed at helping VOX attract a further 50 million customers over the next five years.

UN Yemen envoy calls for truce to be extended for five days

The five-day humanitarian truce began on Tuesday to distribute aid to the millions deprived of food, fuel and medicine by weeks of fighting.

Dubai Properties says Arabella Townhouses sell out on launch day

The developer has now launched additional units for sale within the project, which is located in its Mudon community in Dubailand.

Saudi PetroRabigh restarts vacuum distillation unit after unscheduled maintenance

The maintenance will cost the company around SAR100 million, which will be reflected in second-quarter results.

Nakheel signs deal with Landmark Group for 25 outlets in Al Khail Avenue

Construction on the Al Khail Avenue mall will begin this year, with expected opening in 2018.

UAE’s Waha Capital to invest up to $1.08bn by 2020

Waha is looking to invest in sectors with high growth potential such as energy, infrastructure, healthcare and education.

Kuwait’s Agility Q1 profit rises 5%, in line with forecast

he firm’s net profit in the three months to March 31 was KD11.8 million.

Abu Dhabi prosecutors say will contest verdict in schoolgirl death case

The Abu Dhabi Appeals court had eased the verdicts on the defendants and overturned the school’s closure.

Saudi man gets life in US prison in Africa embassy bombings case

Khalid al-Fawwaz was not charged with planning or participating in the attacks, which killed 224 people and injured more than 4,000.

Etihad Airways says US carriers got $70bn in government aid

The claim follows US carriers’ allegations that Etihad, Emirates and Qatar Airways have received more than $40 billion in state subsidies.

Credit Cards Bolster Citigroup In UAE, Bahrain And Poland

Citigroup has experienced growth in credit card acquisitions in the UAE of 2.5 times over the past year, it said.

Qatar Labours On As Reforms Fail To Take Shape

Despite promises to overhaul its labour laws to prevent the abuse of migrant workers, Qatar is yet to take firm action.

Dubai’s Marka Buys Reem Al Bawadi Restaurant Chain For Dhs315m

The acquisition is being funded by a blend of the company’s own funds and bank facilities, Marka said.

Bahrain Upholds Six-Month Sentence For Prominent Activist Over Tweet

Nabeel Rajab was convicted for “publicly insulting two government bodies.”

Qatar Airways Added $900m To The US In 2014, Says CEO

Akbar Al Baker once again refuted “baseless” subsidy claims, and called for the US government to continue its open skies agreement.

Taxi-Provider App Uber Now Targets Health, Retail

Uber’s reach now stretches across 310 cities and 55 countries and it records one million trips a day.

Revealed: Top 10 Medical Tourism Destinations In The World

Canada was ranked as the world’s best medical tourism destination worldwide in 2014, according to a new index.

Dubai’s Drake & Scull Q1 Net Profit Falls 38%

DSI’s first-quarter revenue was Dhs1.11 billion, down from Dhs1.25 billion a year earlier.

Expats In GCC Countries Can Now Apply For UAE Visa Online

From October, online visas will become mandatory, and visas on arrival will not be granted at the airport, officials said.

Saudi Regulator Approves Fourth IPO This Year

Arabian Contracting Services Co will offer investors 16.5 million shares representing 30 per cent of its capital.

Abu Dhabi’s Aldar Q1 Net Profit Rises 36%

The state-linked builder made a profit of Dhs618 million in the three months to March 31.

Absent From Obama Summit, Bahrain King Expected At UK Horse Show

Like Saudi Arabia’s King Salman, King Hamad has decided to send his crown prince to the United States in his stead.

Saudi Arabia Regulator Refers Mobily Case To Public Prosecution

The Capital Market Authority launched an investigation into the firm in November after Mobily restated a year and a half of its earnings.

Kuwaiti Mina Abdullah Refinery Units In Maintenance To June 8

The refinery will also undergo a second round of maintenance for 45 days starting March 1 next year.

Saudi King Allocates SAR1bn For Yemen Relief Centre

The money would be in addition to another SAR1 billion the monarch had pledged, Al Arabiya said.

Iran Says Saudi-Led Forces Cannot Inspect Yemen-Bound Ship

A military coalition led by Saudi Arabia has imposed inspections on all ships entering Yemen.

Half Of UAE Professionals Unhappy With Their Salaries – Survey

Up to 66 per cent of UAE professionals believe they earn less than what other firms in their industry offer, finds new survey by Bayt.

Saudi Arabia Regulator Suspends Trade In Mobily Shares

The regulator has asked the telecommunications operator to clarify information related to one of its businesses.

UAE Ranks 45 Globally For School Education; Singapore Tops List

Published by the OECD, the biggest-ever global school rankings list is based on test scores in maths and science in 76 countries.