Dubai’s DGCX To Set Date In Two Weeks For Launch Of Spot Gold

The exchange is still in talks with a local bank about the contract.

UAE Islamic Insurers Considering Mergers

A committee to oversee Islamic insurance is set to be established in the UAE by the end of this year to help standardise the sector.

Pakistani Minister Accuses UAE Of “Hurling Threats” Over Yemen Row

The UAE’s foreign affairs minister had rebuked Pakistan for not participating in the Saudi-led coalition fighting Houthi rebels in Yemen.

Iran Suspends Saudi Arabia Pilgrimage Over Sexual Assault Allegations

The suspension comes as two Iranian teenagers were allegedly assaulted by Saudi security officers during their pilgrimage.

Cayan Group Reveals Property Projects Worth Dhs3.1bn In Dubai, Saudi

The company’s latest portfolio of projects includes residential properties in Riyadh and Dubai and a commercial tower in Riyadh.

Abu Dhabi’s Mubadala GE Capital Says No Plans To Change Shareholdings

Mubadala GE Capital was set up in 2009 as a 50:50 venture to invest globally in GE Capital-originated commercial finance assets.

UAE-Australia Trade Grows 18% In 2014

Trade has been buoyed by increased ‘bellyhold’ aircraft capacity from Emirates, Qantas and Etihad Airways.

Private Equity House Abraaj Closes $990m Sub-Saharan Africa Fund

The new African fund will focus on well-managed, mid-market firms in sectors most likely to benefit from demand driven by the rapid expansion of the middle class.

Saudi Regulator Lifts Suspension On PetroRabigh shares

Trading in PetroRabigh was suspended by the Capital Market Authority on Sunday after the company did not commit to listing rules.

Dubai Q1 Property Prices Drop Slightly Q-On-Q, Rents Stay Flat – JLL

Apartment and villa prices in Dubai fell marginally in the first quarter compared to Q4 2014, the report found.

Qatar’s Gulf International Services Q1 Profit Rises 89%

The firm made a profit of 355.7 million riyals in the first quarter of 2015, a statement said.

Qatar’s GIS Says Oil Price Fall Hits Rig Business

The company said that one of its subsidiaries will release a contracted rig in May due to the oil price fall.

Bahrain’s GFH Says To Review London, Kuwait Listings

GFH did not give details of what its review would involve or say when it might be completed.

Qatar Shipper Milaha Eyes Combining Tanker Business With UAE Firm

Milaha said that if the merger is successful, the move would provide better financial returns and strengthen its combined business market position.

Saudi’s PetroRabigh Says Plans $1.9bn Rights Issue

The company said that it will use the money raised to help fund its expansion.

Dubai’s Drake & Scull Wins $91m Hotel Engineering Contract

The hotel is part of a development that also includes two residential buildings, Drake said in a bourse statement.

Saudi Arabia Trims Oil Supply To Some Asian Buyers -Sources

For the past two months, the Kingdom had informed some customers that they would receive full contracted volumes, only to trim supply later.

Bahrain Sovereign Fund Wants To Double Assets Under Management In 7 Years

The fund is seeking targets in Europe and the U.S., and select markets in the Far East, across multiple sectors including logistics and industrials.

Iran Aims To Export Natural Gas To Kuwait, Official Says

Iran gas exports to Kuwait could be operational if a contract is signed, a senior official said.

Dubai Govt Launches Dhs600m SME Fund For Emirati Entrepreneurs

The fund will offer between Dhs50,000 and Dhs5 million to start-ups and existing businesses in Dubai.

Saudi Arabia Dismisses Iran Calls For Yemen Ceasefire

Saudi and its Arab allies began air strikes against Iranian-allied Houthi militia fighters in Yemen more than two weeks ago.

Dubai’s Financial Court System Seeking Ties With China

Discussions had begun with court officials in Shanghai confirmed DIFC Courts’ Registrar Mark Beer.

From Film To Fashion, Dubai Bids To Be Creative Capital For Arab World

The emirate’s new 21 million sqft design district is set to include galleries, studios, workshops, boutique stores and museums, plus office and residential space.

Air Strikes Kill Eight Civilians In Yemen

The air raids were reportedly aimed at a site held by soldiers loyal to former Yemeni President Ali Abdullah Saleh.

Chalhoub Group, Marka And Jumeirah To Open In Dubai Design District

Many global designers including Rami Al Ali, Furne One Amato and Michael Cinco are also establishing their presence in the project.

Rules Needed On Yacht Gimmicks In Dubai Property Market – Alabbar

Mohamed Alabbar said there needed to be additional controls on local property companies when it came to attracting foreign investors.

Saudi Market Regulator Halts PetroRabigh Shares For Disclosure Rule Breach

The suspension would remain in place until the company meets regulatory requirements on disclosure, the CMA said.

UAE Bank NBAD Targets Africa, Asia For Wealth Management Growth

NBAD has been focusing on growing its fee-paying businesses such as wealth management as it aims to offset high levels of competition in traditional banking products.

Super Blue Moon

REVEALED: Clash Of The Big Three: GCC Airlines Vs US Carriers

Gulf Business compares what Emirates, Etihad and Qatar Airways offer versus their counterparts in the US.

Abu Dhabi’s Aldar Starts Construction On Ansam Project In Yas Island

The project is currently the only residential development on Yas Island that is available for sale to expatriates.