Saudi king appoints new head of grains business

Ahmad bin Abdelaziz Al-Fares replaces Abdulrahman bin Saleh Al-Ruwatie, who was the acting director-general of the GSFMO.

UAE launches new state bank to push housing, job creation policies

Abu Dhabi-based Emirates Development Bank has been created by the merger of Emirates Industrial Bank and Emirates Real Estate Bank

Sharaf DG to open first Egypt store in 2016, plots Gulf expansion

The electronics retailer is also looking to enter the Saudi market next year, a senior official said.

Dubai among world’s top 25 most expensive cities

Dubai and Abu Dhabi were also ranked most expensive cities for expats in the Middle East, according to a new survey

Dubai’s ENOC signs $1.5bn syndicated loan from 21 banks

The facility will support its expansion plans and provide the energy firm with long term funding

Emirates introduces new feature to block tickets for 48 hours

The ‘hold my fare’ feature is open to customers in the UAE and other select markets for a refundable fee

Al Qaeda in Yemen execute 2 Saudis accused of spying for America

Two Saudis, named al-Mutairi and al-Khaledi, were reportedly killed

Kuwait’s IPG buys jet fuel from state-owned KPC in rare move

Independent Petroleum Group bought 60,000 tonnes of the aviation fuel from Kuwait Petroleum Corp in July

Dubai developer Damac opens ladies only sales office

Named Morjana, the office will have 25 female staff and will be open seven days a week

Abu Dhabi records 20% rise in visitors in first four months of 2015

Over 1.3 million guests stayed in the emirate’s hotels and hotel apartments

UAE confirms that Ramadan will begin on June 18

The first day of Eid Al Fitr is likely to fall on Friday, July 17, say astronomers

Qatar Airways CEO says ILO has ‘vendetta’ against Qatar due to discrimination report

The ILO published a report on Saturday detailing its recommendations to Qatar on how the airline should change its discriminatory employment rules.

Qatar Airways discriminates against women employees – UN agency

The International Labour Organisation has accused the airline of unfair practices against its female staff

Private wealth in the UAE to grow by 10.7% in five years

Private wealth in the UAE is estimated to reach $1 trillion by 2019, boosted by buoyant equity markets and a growing economy, a new study shows.

Saudi billionaire Prince Alwaleed, Forbes settle libel case

The Prince and Forbes have been embroiled in a dispute ever since the magazine’s annual billionaires list was published in 2013

Reem Island accused’s lawyer calls non-muslim witness accounts ‘invalid’

Alaa Bader Al Hashemi is charged with the murder of American schoolteacher Ibolya Ryan and for planting explosives at the doorstep of another resident

Bahrain opposition leader sentenced to 4 years in jail

Sheikh Ali Salman has been convicted on charges of creating unrest against the ruling system, his party said.

Etihad starts daily flights to Hong Kong

The new service will offer a total of 3,620 seats per week between Hong Kong and Abu Dhabi

Flydubai launches daily direct flights to Faisalabad in Pakistan

The budget carrier said that it will be increasing frequency on a number of routes and doubling the size of its network in Pakistan

UAE’s Gulf Finance Corp to raise up to Dhs 600m syndicated loan

Gulf Finance, part of Dubai’s Shuaa Capital, provides finance to small and mid-sized firms in the UAE.

Qatar agrees to buy four more C-17s – Boeing

Financial details of the sale and the timing of the accord were not disclosed.

Qatar’s secretive sovereign fund to restructure, say sources

The restructuring comes as the drop in oil prices crimped available funds as competition for assets grows

Amnesty calls for release of Bahrain opposition leader

Sheikh Ali Salman, head of the opposition al Wefaq Islamic Society, was arrested in December

Top tips when hiring new recruits in the UAE

New survey finds one in 10 recruits are regarded as a ‘poor hiring decision’ by HR directors

Qatar Airways places $4.8bn order for 10 Boeing 777-8Xs, four 777 freighters

The orders were placed on the first day of the Paris Airshow

Saudi bourse CEO sees flurry of foreign investor licenses soon

Saudi’s market regulator has said foreign institutions can buy stocks directly from June 15, but it has not so far announced the award of any licences

Dragon Oil agrees to ENOC’s increased takeover bid

Dubai-based ENOC’s offer values Dragon Oil at around $5.75bn

Saudi Arabian Airlines purchases 50 Airbus aircraft

The company did not disclose the value of the deal but other media reports valued it at $8.2 billion.

UAE announces Ramadan working hours for private sector

Working hours for private sector employees will be reduced by two hours with no change in salaries.

Sheikh Mohammed forms Dubai Creative Clusters Authority to oversee freezones

The authority was previously called Dubai Technology and Media Free Zone Authority.