Saudi Arabia opens the oil taps, ups June output to record high

The kingdom said it pumped 10.56 million barrels per day of oil last month, up 231,000 bpd from May, according to OPEC

Major fire breaks out on Dubai Creek boats

The blaze, which began on one of the boats, spread to the wharf as a result of flammable items in the cargo waiting to be loaded

British Airways to fly Dreamliner to Abu Dhabi and Muscat

British carrier will hope to lure Emiratis and Omanis onto its new First Class suites

Kuwait committee to visit London for sovereign fund probe

The Kuwait Investment Authority has come under greater public scrutiny following last year’s plunge of oil prices

Property market and economy in Dubai ‘healthy’ – Jumeirah CEO

Gerald Lawless says emirate’s property market has matured well since the financial crisis

Saudi appoints housing minister from private sector

Majed al-Hogail, former MD of Rafal Real Estate Development, was chosen to head the housing ministry by King Salman

Dubai’s property market: Where is it headed?

The emirate’s residential property market is seeing a deflationary trend, writes the head of research and consultancy at CBRE Middle East

‘Reem Island ghost’ executed in UAE for killing American teacher

Ala’a Badr Abdullah al-Hashemi, 31, was sentenced to death for stabbing teacher Ibolya Ryan

Star Trek 3 to be filmed in Dubai

The filming of the movie in Dubai is scheduled to begin in October, the Dubai Film and TV Commission said

Bahrain arrests opposition leader freed three weeks ago

Ibrahim Sharif, former head of the secular National Democratic Action Society, was arrested previously for plotting to overthrow the monarchy

UAE announces Eid holidays for public and private sector

Eid holidays for employees of federal authorities will begin from July 16 while private sector workers will receive two days off

Saudi’s Mobily names former Mobinil executive as new CFO

Ben Hamida served as the CFO at Egyptian phone operator Mobinil from 2011

Abu Dhabi rents up 6%, prices rise 4% quarter-on-quarter in Q2

Developments such as Eastern Mangroves and St Regis Residences saw rents rise 10-12 per cent in Q2, says Asteco report

Italian firm wins $859m contract for Qatar 2022 World Cup stadium

The Al Bayt stadium in Al Khor will have the capacity to accommodate 70,000 spectators

UAE tops MENA ranking on global index measuring rule of law, crime

The Emirates retained the top spot in adherence to order and security helping it reduce crime, a new study says

Saudi’s Mobily names former MTN exec Farroukh as CEO

Mobily said that the new CEO has “a proven track record of success in the area of financial management, audit and operations”

Saudi says Riyadh determined to confront Iranian expansion in region

Saudi actions had helped reduce the interference of Tehran and its regional clout in Yemen and other countries, the Kingdom’s foreign minister said

Saud al-Faisal, Saudi foreign minister for 40 years, dies

Prince Saud was the world’s longest-serving foreign minister when replaced on April 29 by Adel al-Jubeir, the then-ambassador to Washington

Saudi Arabia issues first sovereign bonds since 2007, more to come

The government sold SAR15bn ($4 billion) of bonds to local banks this year, according to a senior official

Dubai property market: Flight towards affordability

Affordable housing has become the new buzzword in Dubai’s property scene. Why?

Will OPEC’s obstinate stand cause long term harm?

The Saudi-led OPEC’s willingness to inflict pain on the US shale industry shows no signs of abating but there may be economic consequences later on

Greece launches tourism charm offensive in UAE

Minister says potential ‘Grexit’ will have no impact on the tourism industry

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Expo 2020 could face major cyber security issue – expert

Tom Leighton, CEO of tech firm Akamai, says online security is a major challenge for high-profile events across the world

Saudi bank NCB posts 2.6% drop in net profit, misses forecasts

NCB reported a net profit in the second quarter of 2015 of SAR 2.36bn ($629m)

UAE finds 99.88% compliance for midday break rule

The ministry of labour said that 11 firms were fined for flouting the midday work ban

Dnata to handle 20m passengers in Dubai airport this summer

The travel service firm is expecting to handle over 50,000 flights and 30 million bags in the months of June, July and August at Dubai airport

Emirates confirms halting ticket sales by travel agents in Greece

The airline’s sales office in Athens will remain open for bookings, it clarified

UAE stock market regulator chief said to be retiring

Abdullah al-Turifi is a founding member of the Securities and Commodities Authority

Dubai’s non-oil businesses see sluggish growth in June

Business confidence in the emirate remained high despite a slower rate of increase in new orders and growth in June

Sheikh Mohammed: Dubai hits first goal of strategy to become Islamic economy hub

Dubai has overtaken Malaysia and London for the listing of Islamic bonds on its exchanges