Dubai Police Adds Luxury Motorcycle To Fleet

A Can Am Spyder joins the police’s fleet of luxury supercars.

Barclays Cuts Several Hundred Investment Bank Jobs

The cuts will mostly be in the fixed income, currencies and commodities (FICC) trading and markets businesses, according to sources.

Apple Allows ‘Approved’ Virtual Currencies In Apps

The company did not provide details on the approved virtual currencies.

Cooling Firm Tabreed Wins $1.6bn Contract From UAE Armed Forces

Tabreed’s first district cooling plant was commissioned by the UAE armed forces in 1998.

Abu Dhabi’s TDIC Secures Financing To Repay $2bn Bonds In 2014

TDIC is building iconic museums such as the Louvre and Guggenheim in Abu Dhabi.

Saudi Business Activity Growth Slows In May

While output growth continued to accelerate, growth in new orders dropped sharply.

Drake & Scull Engineering Awarded Two Deals Worth Dhs259m

The deals were awarded by a consortium consisting of UAE contractors Arabtec, CCC and Drake & Scull Construction.

Dubai’s Tourism Authority Starts Process To Issue Holiday Homes Licenses

The first phase of applications is restricted to entities that intend to operate a portfolio of at least 20 properties in Dubai.

PineBridge Investments Raises $140m For GCC Real Estate Fund

The fund will acquire existing real estate assets, with a focus on the logistics, social infrastructure and community retail sectors.

Qatar Image Would Suffer More Than Economy If World Cup Lost

Qatar is wealthy enough to handle such economic dislocation without long-term damage, analysts say.

Top Egyptian TV Comic Says Show Pulled Off Air

Bassem Youssef’s show was alleged to have made fun of the recently concluded presidential elections in Egypt.

Abu Dhabi’s TDIC Narrows 2013 Loss On Higher Revenues

The company made a net loss of Dhs1.13 billion ($307.7 million) in 2013 compared to a loss of Dhs2.15 billion in the prior year.

Park Hyatt Vienna Set To Open

Hyatt’s first hotel in Austria is located in a 100-year-old building on the Am Hof square

UAE’s Etisalat Adds Banks, May Print Four-Tranche Bond – Sources

Etisalat may issue paper of five and 10 years duration denominated in U.S. dollars, as well as offerings in euros with lifespans of seven and 12 years.

Bahrain Budget Gap Doubles In 2013, Spending Rise Lowest Since 2009

State spending rose by 2.8 per cent to BD3.4 billion in 2013, some 14 per cent below the budget plan.

Dubai’s Design District On Track For Q1 2015 Launch

The development has received a positive reaction from international brands, confirms senior official.

Dubai Property Agents Fined Dhs50,000 For Breaching RERA Rules

Dubai’s real estate authority has also issued an official notice to all registered brokers warning them to refrain from cold calling property owners who do not wish to sell.

Saudi Mobily Cuts Profit By $90m After Rival Etihad Atheeb Scraps Tie-up

Atheeb said it wants to cancel the deal with Mobily “due to some technical and logistical difficulties”.

Kuwait Says Looking To Import Iranian Natural Gas

The Gulf state also signed a contract earlier this year to import liquified natural gas (LNG) from Qatar to help meet its energy needs.

Etihad Launches Daily Zurich Flights

Daily services on A330-300 aircraft will be supported by Etihad Regional’s traffic growth

FIFA Investigator To Meet Qatar Officials Over Corruption Claims

Officials have called for a re-vote following the latest allegations about Qatar’s bid for the FIFA 2022 World Cup.

Expo Effect To Bring 28,000 Hotel Rooms To UAE By 2016

International players are expected to offer the bulk of additions to the market, with Expo 2020 being a major driving force.

Dubai’s Arabtec Says To Float Unit’s Shares In Egypt

Arabtec is also planning to invest about $60 billion in Egypt over the next three years in sectors such as real estate development, infrastructure, trains, airports, and oil and gas.

Etihad Expands Codeshare Agreement With India’s Jet Airways

The Abu Dhabi carrier has placed its ‘EY’ code on Jet Airways’ domestic services for the first time, as part of the deal.

Emirates Airline Sees Progress Soon On A380 Engine Upgrade

Emirates has expressed interest in applying the lessons of other Airbus re-engining projects to the four-engined superjumbo.

Oman’s Bank Dhofar Proposes Share Swap Ratio For Bank Sohar Merger

A merger between the two banks would create Oman’s second biggest bank by asset value, with assets worth around 4.78 billion rials ($12.42 billion).

Dubai’s Al Futtaim Group Signs Deal To Build $1.6bn Saudi Mall

The super regional mall will be anchored by an IKEA store and will have a gross leasable area of 250,000 square metres.

Etihad Airways Takes Steps Toward Alitalia Investment

Both airlines will proceed with final documentation to complete the transaction once the board and stakeholders in Alitalia confirm acceptance of the terms.

Kuwait’s Ruler Makes Rare Visit To Iran To Build Ties

Kuwait, home to a sizeable Shi’ite Muslim minority, is seen by some as a potential bridge between Iran and the Gulf Arab states.

Iranian Foreign Minister Says He Cannot Visit Saudi Arabia

Mohammad Javad Zarif’s visit would have been the first by a senior Iranian official since President Hassan Rouhani took power.