UAE-Based Time Hotels Inks Deal To Manage Red Sea Resort In Egypt

The hospitality firm will manage a beach resort comprising of a hotel and residences in the Sahl Haseesh development in Egypt.

Qatar Airways Passenger Arrested In UK For Fake Bomb Threat

The incident, which led to the closure of the northern England airport for 25 minutes, briefly sparked fears of a terrorism attack.

Regulations Make Dubai Property Sector “Stable” For Foreign Investors

Dubai’s real estate sector offers a number of medium to long-term investment options for foreign buyers, an expert says.

Dubai’s Depa Wins New Contracts Worth Dhs300m In Singapore, Netherlands

The contracts were awarded to subsidiaries of the interior contracting company.

Saudi Says Tests Man Suspected Of Contracting Ebola In Sierra Leone

The man, aged 40, was admitted in a hospital in Jeddah, the health ministry said.

Abu Dhabi Hotels Welcome 1.7m Guests In H1 2014

Occupancy rates across the emirate’s hotel and hotel apartments reached an average of 77 per cent during the first six months of the year.

Saudi July Non-Oil Business Growth Fastest Since September 2012

The Kingdom’s non-oil business sector was boosted by strong output and new orders, a survey showed.

UAE July Business Activity Growth Edges Down, Still High

The HSBC UAE Purchasing Managers’ Index was at 58 points last month, down from 58.2 points in June.

Emirates Starts Chicago Flights

New services to the ‘windy city’ provide Emirates with new destination and transfer opportunities

Dubai Holding Completes $1.7bn Sale Of German Packaging Firm

The sale is one of the largest asset disposals by the state-owned investment unit since the 2009 debt crisis.

Paris-Based PE Firm Ardian Mulls $2bn Stake Buy From Abu Dhabi

Ardian has made a bid on portfolios that Abu Dhabi Investment Authority (ADIA) is looking to sell, Bloomberg reported.

Saudi Ministry Asks For $4bn Annually To Spend On Labour Reform

The goal of labour policy is full employment of the Saudi workforce, a report from the labour ministry said.

Saudi Arabia Bans Haj Pilgrims From Ebola Hit Countries

The Kingdom has also beefed up precautionary measures at airports to monitor the spread of the virus during the Haj season, a senior official said.

Dubai’s Emaar Posts 41% Rise In Net Profit For H1 2014

The Dubai developer’s net profit was boosted by increased revenues from its malls and hospitality businesses.

RAK Properties Posts Dhs52m H1 Profit

The developer’s revenues amounted to Dhs149 million while total sales value reached Dhs234 million in the first six months of this year.

Bahrain’s Investcorp Sees Jump In Profit As Private Equity Drives Deal Flow

The alternative investment fund Investcorp posted a 25 per cent gain in annual net profit.

Zain Says Bahraini Unit IPO To Start Sept 2

Shares would be priced at KD0.19 ($0.50) per share.

Carlson Rezidor Inks Deal For 5 New Hotels In Saudi Arabia

The group, whose core brands are Radisson Blu and Park Inn by Radisson, will open three hotels in Jeddah and one each in Riyadh and Dammam.

Oman’s ONIC Holding To Consider Ominvest Merger At Next Board Meeting

Ominvest said last month it had written to ONIC Holding about forming a strategic arrangement between the two firms

Foreign Buying In Saudi Stocks Jumps On Direct Investment Approval

The value of shares brought by foreigners through swap agreements rose to SAR3.53 billion in July, from SAR1.66 billion in June.

UAE’s Telecom Regulator Warns Mobile Users About Scam Calls

The TRA said that fraudsters, seeking to illegally obtain personal information, were claiming to be from an authorised national telephone service provider.

Saudi Pension Fund’s Return Falls To 8.1% In 2013

The fund’s return fell despite a strong rise in the Kingdom’s stock market, in which it is one of the major investors.

Marriott Consolidates In Doha

Trio of hotels amalgamate to form first Marriott Marquis-branded hotel outside the US

Ramadan Season In Saudi Arabia Mostly Free From MERS Virus

The Kingdom reported 10 confirmed new cases of the virus during Ramadan and Eid.

Flydubai Launches Flights To Iran

The low-cost carrier will fly to Tehran from August 11 and Mashhad from August 10.

Dubai Investments H1 Net Profit More Than Doubles

In May, Dubai Investments divested a 66 per cent equity stake in Globalpharma, which contributed a profit of Dhs472 million.

Accor To Manage New 3-Star Hotel In Dubai’s Business Bay

Accor has signed an agreement with Indian developer Hiranandani Group to manage an ibis Styles hotel.

Saudi Aramco, Sumitomo To Transfer Project Ownership To PetroRabigh

The new $8.5 billion project, known as Rabigh II, is to be built as an expansion of PetroRabigh’s existing petrochemical plant.

Dubai Airport’s New Concourse D On Track To Open In Q1 2015 – Sheikh Ahmed

The new concourse will be connected to an existing terminal by an automated train.

Abu Dhabi’s Aldar Properties Q2 Net Profit Up 168%

Revenue for the second quarter was Dhs2.19 billion, up 74 per cent year-on-year.