Saudi To Ease Annual Expat Fees For SMEs

Saudi companies, with a staff of nine or less, will be exempted from paying the fees for four expat workers.

Arabtec Pushes Dubai Index To Post Biggest Daily Loss In 10 Months

Half a dozen stocks fell their 10 per cent daily limits.

Guest Spending Across Dubai’s Luxury Hotels To Drop 15% During Ramadan

Hotels can actually increase guest spending by up to 24 per cent by targeting guests with individually relevant information.

Qatar Raises 2014 GDP Growth Forecast To 6.3%

The OPEC member’s fiscal surplus is forecast to narrow to 9.3 per cent of GDP in 2014.

Stock News: Dubai’s Arabtec Extends Drop

Arabtec confirmed on Tuesday that it had laid off a “limited number” of staff to improve productivity.

Kuwaiti Telco Wataniya Names Thani As New CEO

He replaces Abdulaziz Ibrahim Fakhroo, who is leaving as his term has ended.

Dubai’s Arabtec Says Has Laid Off “Limited Number” Of Staff

Reports claimed that the Dubai contractor laid off hundreds of staff following the departure of CEO Hasan Ismaik.

Etihad Rail To Begin First Phase Operations In “Near Future” – Official

The first phase of the $40 billion Etihad Rail project includes a 266-kilometre long rail network that runs from Shah to Ruwais.

France Wins $2.7bn Qatar Tram Deal, Discusses Rafale Jets

The deal will see the light rail system starting to operate in 2018-20 in Lusail City.

UAE’s Gulftainer To Operate New Cargo Terminal In Florida

Gulftainer will invest up to $100 million in equipment and employees to operate a container and cargo terminal at Port Canaveral.

Emaar Launches Commercial Development ‘Emaar Square’ In Jeddah

The development will include three office buildings overlooking Crescent Plaza, which houses luxury retail outlets and F&B options.

UAE Lender NBAD’s Head Of Asset Management Quits

Mark Watts, who joined the bank in 2010, resigned for personal reasons, sources said.

Kuwait Withdraws Envoy From Iraq Due To Security Situation – Ministry Official

Kuwait said that it would reinstate its ambassador in Iraq once the political situation stabilises.

Portugal Records 140% Rise In UAE Tourist Numbers

The increase in tourism numbers was spurred by the launch of a daily Emirates flight route to Lisbon back in July 2012.

Stock News: Dubai’s Arabtec Hits Sentiment Across The Gulf

The company’s stock fell its daily limit of 10 per cent for a second session in a row.

Ferrari World Abu Dhabi In Major Expansion, Plans 7 New Rides

The theme park has already started the expansion process, and aims to complete it in three years.

Al Jazeera Condemns Egyptian Jail Sentences For Its Journalists

Al Jazeera English managing director said that the ruling “defies logic, sense, and any semblance of justice”.

Dollar/Saudi Riyal Forwards Jump On Iraq Conflict

One-year dollar/Saudi riyal forwards jumped as high as 50.50 points, their highest level since the Arab Spring uprisings hit the Middle East in March 2011.

UAE Announces Ramadan Working Hours For Private Sector

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

Jazeera Airways’ Leasing Unit Inks Deal With Portuguese Airline

As per the deal, the company will place two Airbus A320 aircraft on long-term leases with Lisbon-based airline TAP Portugal.

Dubai Contractor Arabtec Lays Off Staff, Execs In Wake Of CEO Departure

Large numbers of staff, including at least two senior executives, have departed the company since Ismaik resigned.

Egypt Court Jails Al Jazeera Journalists For 7-10 Years

The three journalists who were sentenced include Australian Peter Greste, Al Jazeera’s Kenya-based correspondent, and Canadian-Egyptian national Mohamed Fahmy.

Abu Dhabi’s Mubadala Petroleum Says Makes Malaysian Gas Discovery

Mubadala Petroleum said it found substantial gas in the Pegaga well in its operating block SK320.

Abu Dhabi’s Al Hilal Bank Plans $500m Capital-Boosting Sukuk

The transaction is earmarked to price in the area of six per cent, a document from lead arrangers showed.

Flydubai Opens Dubai Business Class Lounge

Free wifi, food and beverages available to the airline’s premium passengers at Terminal 2

Egyptian Verdict Due For Three Jailed Al Jazeera Journalists

All three have been held at Egypt’s notorious Tora Prison for six months, in a case that has drawn criticism from Western governments and human rights groups.

Saudi’s GSFMO Says Buys 780,000 Tonnes Of Wheat In Tender

Saudi Arabia has become a major importer of hard and soft wheat since abandoning plans for self-sufficiency in wheat in 2008.

Restaurant Chain Just Falafel Signs Deal For 10 More US Outlets

The fast food chain will open restaurants in the Texan cities of Houston and Austin, as part of its expansion.

Saudi’s SAFCO Says Plant Start-Up Delayed, Trims H1 Dividend

The delay in the start-up of the plant was due to construction work falling behind the original timetable, a statement to the Saudi stock market said.

Barwa Real Estate Selling Project To Qatari Diar For $2.5bn

The stake will be sold to Labregah Real Estate Co, a wholly owned subsidiary of Qatari Diar, the developer said in a statement on Qatar’s bourse.