Saudi Foreign Minister, Other Top Officials Head To Qatar To Heal Rift

Saudi, Bahrain and the UAE recalled their ambassadors to Qatar in March, accusing Doha of interfering in their internal affairs.

Ras Al Khaimah Nets $118m In Tourism Revenues In H1

Occupancy levels across Ras Al Khaimah’s hotels reached 64.11 per cent while the average daily rate amounted to $69.85, generating revenues worth $14.9 million.

Nakheel To Build 12-Storey Residential Tower For Lease In Palm Jumeirah

The developer has awarded a contract worth around Dhs75 million to UAE-based Trojan General Contracting to build the complex.

Former CEO Of Dubai’s Arabtec Says Wants Over Dhs5 Per Share

Hasan Ismaik, the former CEO of Arabtec, confirmed that he was in talks with Abu Dhabi state fund Aabar to sell part of his stake.

Dubai’s GEMS To Open Its First School In Qatar

GEMS American Academy-Qatar will begin with primary school but will expand to secondary education in the coming years, the operator said in a statement.

HOK-Arup Consortium Appointed To Design Dubai Expo 2020 Host Venue

The contractors, who designed the project from the Expo 2020 bid phase, are currently undertaking site readiness activities.

Dubai’s Damac Launches More Units For Sale At AKOYA Oxygen Project

The developer said that it preponed the second release of units at the AKOYA development owing to strong investor demand.

Stock News: Arabtec Lifts Dubai

Investors are hoping Abu Dhabi’s Aabar will soon buy a part of the 27.9 per cent stake held by Arabtec’s former CEO Hasan Ismaik.

Aldar Readies To Open Abu Dhabi’s Largest Geant Store In Yas Mall

Yas Mall, set to open in November, is slated to become the emirate’s first ‘super-regional’ mall.

Bahrain’s Gulf Finance House Gets $105m Facility From Kuwait Finance

The facility will help GFH redeem two syndicated debt facilities and allow the release of some major assets.

Iranian Minister Says Saudi Talks “Constructive”

Hossein Abdollahian was in Jeddah for the first high-level talks between the two nations since Hassan Rouhani was elected Iran’s president.

Saudi Holds Eight Suspected Of Inciting Youths To Fight Abroad

Saudi Arabia has banned citizens from fighting abroad, donating money to any faction or sympathising with militant ideologies.

Standard Chartered Looking To Sell Part Of UAE Business

As part of a US settlement last week, the bank agreed to end high-risk relationships with SMEs in the UAE.

Kuwait Energy Keen To Invest More In Iraq – CEO

Sara Akbar said the violence in Iraq was temporary and could not overshadow the country’s vast potential for relatively easy oil.

Abu Dhabi’s Watania Says Regulator Approves 60.53% Stake Sale

MB UAE Investments will acquire 51 per cent and Al Madina Insurance Co will get 9.53 per cent of Islamic insurer National Takaful Co (Watania).

Dubai’s TECOM Launches New Freehold Villa Community In Barsha

The development, called Villa Lantana, will feature 440 units including three, four and five bedroom homes.

Qatar Seeks To Free More US Hostages In Syria

The Gulf Arab state’s diplomacy recently helped free Peter Theo Curtis, an American journalist held since 2012.

Kuwait Replaces Head Of Market Regulator After Political Backlash

Nayef Al-Hajraf replaces Saleh Al-Falah, who had held the post since the Capital Market Authority began operating in early 2011.

MAF Says Phase Two Of Mall Of The Emirates’ Dhs1bn Expansion Begins

The new phase will include a redesigned VOX Cinemas complex and the launch of new fashion brands and F&B outlets.

UAE Clamps Down On Drivers Using Mobile Phones

Officials in the country have also said that applying make-up while driving will draw a fine of Dhs1,000.

Abu Dhabi Woos Chinese Travellers

The emirate is holding a Chinese Visitor Summit to boost tourist numbers and guest nights.

Bulgaria Corpbank’s Owner Working With Oman On Restructuring Plan

Corpbank’s fate has been in limbo since June, when a run on deposits prompted the central bank to seize control of it and close its operations.

Iran Deputy Foreign Minister To Visit Saudi Arabia

Hossein Amir Abdollahian’s trip is the first high-profile visit to the Kingdom since the election of Iranian President Hassan Rouhani in 2013.

UAE Banking Space Too Crowded, Mergers Needed – Emirates NBD CEO

Exclusive: Shayne Nelson, the CEO of Emirates NBD, says mid-sized banks in the country should consider in-market mergers.

Saudi Stock Index Above 11,000 Points, First Time Since 2008

The stock index has jumped 13.3 per cent since the opening of the market was announced on July 22.

Stock News: Banks Support Qatar, Most Markets Edge Up

Qatar’s benchmark rose 0.6 per cent, led by Islamic lender Masraf Al Rayan and Qatar National Bank

Saudi Builder Al Khodari Wins $184m University Contracts

Al Khodari will build facilities at Taibah University and at Northern Borders University.

Etihad Welcomes Review By Swiss Authorities On Darwin Deal

Etihad CEO James Hogan says he supports the need for “absolute clarity” regarding its 33.3 per cent stake in Swiss carrier Darwin.

Qatar Facilitates Release Of American Kidnapped In Syria

Peter Theo Curtis, an American writer, was missing since 2012.

Dubai’s Hotels Welcome Over 5.8m Tourists In The First Half Of 2014

The emirate recorded a 26 per cent rise in the number of visitors from China.