Microsoft Plans To Cut Up To 18,000 Jobs

The company is reducing the size of its recent Nokia acquisition and trimming down other operations.

Dubai’s Godolphin Sets Up Permanent Stable In Australia

The racing stable has appointed John O’Shea as the head trainer for its unit in Australia.

Dubai Financial Market Q2 Net Profit More Than Triples

The firm, which runs securities trading in Dubai, made a net profit of Dhs252.5 million.

Airbus Eyes Middle East Order For Revamped A330 Jet

The planemaker closed the Farnborough Airshow with total orders and commitments for 496 aircraft, including 121 for the A330neo.

Etihad Launches Daily Flights To Perth, Rome

New routes will better connect Etihad with Europe and Western Australia, the airline said in a statement.

UAE Regulators Signal More Active Stance On Arabtec

On Thursday, the Dubai bourse said it was suspending trade in Arabtec pending clarification on media reports about strategic partners’ stake in the firm.

Dubai International Airport “On Track” To Reopen Runway On July 21

Airlines temporarily operating into Al Maktoum Airport at DWC will return to Dubai’s main airport once it’s back to full capacity.

Dubai’s Consumer Prices Rise Sharply In First Half Of 2014

Housing, water, electricity, gas and fuels recorded price increases of 4.6 per cent during the first six months of the year.

Stock News: Dubai Pulls Back As Arabtec Suspended

Dubai’s index slipped 0.7 per cent as property stocks retreated.

Emirates Airline Could Buy 60-80 More A380s If Engines Upgraded

Emirates, the largest customer for the Airbus A380, had ordered 140 of the aircraft as of November.

Dubai Bourse Suspends Arabtec Shares

Trading in Arabtec’s shares were suspended following media reports of Aabar increasing its stake in the company.

Aabar In Talks to Buy Stake From Former Arabtec CEO

The Abu Dhabi state fund is looking to raise its stake in Arabtec to almost 30 per cent to become the major stakeholder, a source said.

Oman’s Bank Muscat Posts 22% Jump In Q2 Net Profit

The bank made a quarterly profit of OMR46.6 million ($121 million) in the second quarter compared to OMR38.1 million in the corresponding period of 2013.

Etihad Chief Aims To Seal Alitalia Deal As Union Warns On Jobs

Etihad’s chief executive said that the company wants to “guarantee the success and long-term viability of Alitalia” through the deal.

Qatar’s Doha Bank Q2 Net Profit up 9.9%

The bank made QAR388 million ($107 million) in the second quarter, up from QAR353 million in the same period of 2013.

Telecoms Firm Zain Saudi Posts Narrowed Q2 Net Loss

The company made a net loss of SAR329 million ($87.7 million) in the three months to June 30, according to a bourse filing.

Saudi’s Savola Beats Estimates with 32.4% Net Profit Gain

The company made a net profit in the three months to June 30 of SAR513.3 million ($136.9 million), compared with SAR387.8 million in the same period a year earlier.

Saudi Arabia Boosts Security On Heavily Fortified Iraq Frontier

Saudi officials have not made public the total number of extra troops they have sent to the frontier, so far declining to comment on the accuracy of media reports which put the number at 30,000.

Kuwait’s Zain Posts Slight Decline In Q2 Net Profit, Meets Expectations

The former monopoly made a net profit of KD59 million ($209 million) in the three months to June 30.

Airbus, Boeing Climb Close To $100bn In Airshow Deals

The biennial Farnborough Airshow has already outsold the 2012 show which saw $72 billion of orders and commitments.

Omani Sohar Refinery To Restart Units After Maintenance

The refinery has capacity to process 116,000 barrels per day of Omani crude.

Nakheel Inks Dhs46m Contracts For Palm West Beach, Deira Islands Mall

The developer signed a Dhs6 million contract for a beachside entertainment complex in Palm Jumeirah and confirmed that it has signed the contract for Deira Islands Mall.

UAE Plans To Send Unmanned Probe To Mars By 2021

A new space agency is being created in the country to supervise the mission.

FIFA 2022 World Cup Loss Will Drag Down Qatar’s GDP Growth – Report

Direct world cup spending is estimated to be $16 billion, which is 7.5 per cent of Qatar’s GDP, says report by Bank of America Merrill Lynch.

Qatar Airways Finalises $19bn Boeing 777X Plane Deal

The Gulf carrier also said it had agreed purchase rights to buy a further 50 777X aircraft.

Samsung Faces Rising Pressure As Apple Readies iPhone 6

Research firm says the eight-month-old iPhone 5s outsold the Galaxy S5 in May, although Samsung’s flagship device was only released in late March.

Exclusive: MAF Properties Planning Mixed-Use Project In Dubai

The project is expected to be launched in the next 12 months, confirms CEO George Kostas.

Kuwait’s NBK Q2 Profit Rises 29%, Misses Estimates

Net profit climbed to KD60.9 million ($215.8 million) in the three months to June 30 from KD47.2 million a year earlier.

Sobha Group Launches $4bn Mixed-Use Project In Dubai

The project will comprise of residences, two international schools, nurseries, three hotels, mosques, a clubhouse, a retail centre and restaurants.

Qatar’s Nakilat Q2 Profit Rises On Higher Charter Rates

The company made a net profit of QAR238.6 million ($65.6 million) in the three months to June 30.