Marka to launch Australian plus-sized fashion brand City Chic in UAE

Retailer Marka plans to open three City Chic stores in the UAE before the end of 2015

Kuwait charges 26 for smuggling weapons from Iran

The arrests come after the country uncovered a weapons cache that was allegedly smuggled from Iran

UAE’s Arabtec says no progress on mega Egypt housing project

The company announced over a year ago that it had agreed in principle with the Egyptian government to build one million homes in the country

UAE real estate market feels pinch of low oil prices – Cluttons

Dubai, Abu Dhabi and Sharjah recorded a drop in property values as oil prices slumped by over 50 per cent in the last 12 months

UAE, UN to jointly host global manufacturing summit in Abu Dhabi

The inaugural summit will be held in the second half of next year

Saudi Aramco fire caused by electrical short circuit, officials confirm

The blaze, which happened earlier this week, killed 10 people and injured more than 200

Dubai’s DIC sells alumina products maker Almatis

The deal is the latest divestment by the Dubai government-owned group to repay its debts

Dubai’s Nshama launches prime residential apartments at Town Square project

The units will be located at the main square of the project alongside a retail precinct and a hotel

Majid Al Futtaim opens new City Centre Me’aisem at IMPZ

The Dhs 275m mall features 53 retail outlets and is anchored by a Carrefour hypermarket

Saudi Telecom spending billions to cope with data traffic – CEO

STC said that it is continuing to invest in both mobile and fixed networks while modernising their IT systems

Iranian investment in Dubai property to rise if sanctions ease

Local and global businesses previously used Dubai as hub for their Iranian operations, the consultants said, predicting this would again become common practice

SKAI closes Dhs 1.1bn finance package for Dubai Viceroy hotels

The syndicate for the dual Islamic and conventional facility is backed by a mixture of local and Chinese banks

DIFC Courts wins consultancy deal for Kazakhstan financial centre

Kazakhstan’s president said DIFC was the model for the planned Astana International Financial Centre

India’s Taj exits hotel in Dubai’s Deira

The exit brings an end to a 14-year partnership between Taj and property owner Juma Al Majid Group

Banks suspect wilful default by Atlas Jewellery owner

Reports emerged yesterday that Dubai Police had arrested the owner of the gold jewellery store chain

Dubai’s Deyaar to launch affordable units in phase one of mega Midtown project

The first phase, set to cost around Dhs 500m, is slated for completion in 2018

Burj2020 District masterplan to be revealed at Cityscape Dubai

The district will house the Burj2020, a super tall commercial tower being designed by architects Adrian Smith and Gordon Gill

Deyaar CEO: Dubai property market not seen major impact from oil price drop

The developer has not seen prices fall in any of its properties so far this year, says Saeed Al Qatami

Aldar launches sales for new residential project West Yas in Yas Island

The development will feature around 1,017 four and five-bedroom luxury villas, with prices starting from Dhs 4m

Rising oil output boosts Saudi economic growth

Gross domestic product, adjusted for inflation, expanded 3.8 per cent from a year earlier in the second quarter, accelerating from a revised 2.3 per cent in the first quarter

Atlas Jewellery owner detained by Dubai Police over bounced cheques and debts

M.M. Ramachandran reportedly has outstanding debts of Dhs 550m to various banks in India and the UAE

Kuwait mulls tax on goods and infrastructure as low oil prices bite

The country is looking to impose indirect taxes such as road tolls and paid parking metres to compensate for low oil revenues

Despite smartphone glut, Apple’s new iPhones still awaited in UAE

The company is expected to unveil its latest iPhones on September 9

Saudi-led coalition air strike kills 36 Yemeni civilians -residents

Coalition spokesman Brigadier General Ahmed Asseri denied the strike had hit a civilian target

Fire at Saudi Aramco workers compound kills 10, injures more than 200

Aramco said the fire broke out in a basement of the Radium residential compound in Al Khobar

Dubai Properties Group revenue to rise in 2015 – CEO

Abdullatif AlMulla said DPG’s 2015 profit and revenue will be higher than in 2014, but declined to provide further details

About 22% of Gulf firms say they only ‘talk about innovation’

A new survey shows that Gulf firms are not big risk takers in terms of innovation

Stock news: Saudi Arabia surges, boosted by stronger oil

Saudi’s market suffered the most from panic selling in the Gulf and is still down 12.8 per cent month-to-date

Qatar issues tender for first phase of rail network

The tender has invited bids for a project manager to oversee the first stage of Qatar’s link to the GCC rail network being developed by the six Gulf states

Bahrain’s Investcorp says market volatility won’t hit business

The Bahrain-based investment fund posted a 13 per cent increase in net income for the 12 months to June 30