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Relationships must come ‘before business’ in GCC

People looking to do business in the region must respect cultural hierarchies, says senior Arab official

Dubai Holdings unit says to pull out of Malta telecoms company

Emirates International Telecommunications Malta, which holds a 60 per cent share in Go, did not say how it plans to divest its stake

R Hotels awards deal for Palm Jumeirah resort to ANC Contracting

The hotel operator is currently building a 253-room four-star property in Palm Jumeirah

UAE oil price deregulation to boost economy, government finances

The move, which comes into effect from August 1, will increase fuel prices for residents

Abu Dhabi wins bid to host 2020 world swimming championship

The UAE capital beat rivals Lima and Almaty to win the bid

Dubai’s Emaar says committed to India, still part of MGF joint venture

Media reports in India quoted sources as saying Emaar was close to ending its decade-old joint venture with MGF Developments

Bahraini insurer ARIG plans full ownership of Takaful Re

ARIG already owns 54 per cent of Dubai-based Islamic reinsurer Takaful Re

Affordable housing in Dubai draws residents back from Sharjah

Rents in Sharjah fell 3 per cent quarter-on-quarter in Q2 as a reverse relocation trend to Dubai gained traction, says report

Emirates to launch flights to Bamako in Mali

The service to Bamako will help Emirates improve its connectivity in Africa, the airline said

Dubai’s Emaar Malls Q2 profit rises 43%

Emaar Malls made a net profit of Dhs 412m in the second quarter of 2015

Dubai’s Union Properties says plans three projects worth $544.5m

The developer did not provide any details about the projects

UAE energy ministry says to liberalise gasoline, diesel prices

Domestic fuel prices are currently among the lowest in the world because of heavy state subsidies

UAE official: domestic gasoline prices may rise “slightly”

Gasoline and diesel will be deregulated from Aug. 1 and a new pricing policy linked to global levels will be introduced

Sharjah to develop major leisure project, water canal in Dibba area

The new attraction will be located in Al Hisn Island in Dibba area, which is close to Fujairah

Doha, Dubai most expensive Middle Eastern cities for expats

A new index finds that the cities are among the most expensive worldwide for beer and wine

UAE’s inflation rate up 4.2% y-o-y in June

Housing and utility costs saw the biggest jump in June as they rose 10.2 per cent, statistics show

Austrian Airlines to cancel direct Dubai flights

The airline said it was stopping flights to Dubai due to over-capacity on the route

Abu Dhabi Commercial Bank Q2 net profit up 21%, beats estimates

The lender made a net profit attributable to shareholders of Dhs 1.28bn in the second quarter of 2015

New Dhs 2.4bn Tilal City project in Sharjah to have schools, mall

The project will have 11 educational facilities and a massive upscale mall in addition to features such as jogging and bicycle tracks, mosques and other green spaces

UAE’s NMC Health to invest in Saudi, Qatar for Gulf expansion

The company secured an $825m loan from banks in February to pay debt and fund acquisitions

Non-commissioned UAE officer killed in Yemen

The officer was part of the UAE Armed Forces participating in the Saudi-led operation against Houthi rebels in Yemen

UAE helps Yemen restore operations at Aden airport

A team of experts from the UAE are using a mobile air traffic control tower to help resume operations at the Aden airport within the next two days, a senior official said

Abu Dhabi’s TDIC confirms worker died at Louvre museum site

Officials said the worker’s death in June was the first fatality that happened on site

Chairman of Abu Dhabi’s Al Hilal Bank resigns

Ahmed Ateeq al-Mazrouei, chairman of the lender since 2008, has left for personal reasons, sources said

Abu Dhabi’s Emirates Motor Company closes $175m debut loan

Noor Bank was the initial lead arranger for the syndicated structured facility

UAE issues new law against religious discrimination, hate crimes

Violators will face jail-terms of between six months to 10 years and fines ranging from Dhs 50,000 to Dhs 2m

Damac subsidiary launches Versace branded project in London

Located in the Nine Elms regeneration area, the 50-storey project is slated for completion in 2020

Dubai’s DEWA announces financial close of phase II of mega solar park

The 200MW IPP phase II project of the Mohammed bin Rashid Al Maktoum Solar Park is slated to be operational by 2017

Emirates operates one-off A380 to Taiwan

Emirates is the first airline to land the A380 at Taiwan Taoyuan International Airport

R Hotels plans new Dhs 150m hotel in Ajman Corniche

Construction on the 182-key hotel is slated to begin in Q3 2015 with the opening scheduled for Q1 2017