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

Global growth to boost oil prices -Kuwait oil minister

Ali Saleh al-Omair said that Kuwait was confident of being able to carry out its oil strategy and raise output by 2020

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

Stock news: Most Gulf markets edge up

Dubai’s index inched up 0.1 per cent as heavyweight bank Emirates NBD jumped 3.5 per cent

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

Record Saudi oil inventory seen tied to new refinery, not global glut

The kingdom’s domestic crude oil inventories jumped to a record above 300 million barrels in May

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

Bahrain summons Iranian ambassador over Ayatollah Khamenei’s comments

The Iranian leader had said on Saturday that the country would support “oppressed” people in Bahrain

Will Qatar survive as the 2022 World Cup host?

Moving forward from FIFA’s corruption debacle will be difficult, whether Qatar has acted ethically or not

Gold plunges to five-year low on stronger dollar

Gold prices dropped to $1,088.05, the lowest since March 2010

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

Saudi crude oil exports fall to lowest in five months in May

The kingdom exported 7.737 million barrels a day in April

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

Iran’s Rouhani speaks to Qatar ruler after nuclear deal

Rouhani said he expects the nuclear deal to improve relations with its neighbours

Emirates deploys one-off A380s to Qatar, Bahrain for Eid

The special A380 flights were at full capacity, supporting the traffic over the Eid holiday period from both countries

Hamas chief and Saudi king hold rare meeting

Relations between Hamas and Saudi have improved since King Salman assumed the Saudi throne in January

Saudi Arabia arrests 431 ISIL suspects, thwarts bombings

Officials said they thwarted six suicide operations which targeted mosques in the Eastern province

Iran needs time and favourable conditions to boost oil output

A substantial increase in Iran’s oil exports is probably years away, writes Reuters’ analyst John Kemp

Eid Al Fitr confirmed on Friday in UAE

Eid al-Fitr holidays for private sector workers in the UAE will be on Friday and Saturday

Qatar, UAE among top 10 nations with most efficient governments

Qatar emerged as the country with the most efficient government, while the UAE ranked fifth worldwide according to a new report from WEF

UAE military officer dies in Yemen

The official news agency said that the soldier died while in active duty in Yemen

Qatar backs Iran deal, hopes Tehran will take “positive” stance

The deal might make Iran have a “better and positive approach” toward the GCC region, Qatar’s foreign minister says