UAE finds 99.88% compliance for midday break rule

The ministry of labour said that 11 firms were fined for flouting the midday work ban

Dnata to handle 20m passengers in Dubai airport this summer

The travel service firm is expecting to handle over 50,000 flights and 30 million bags in the months of June, July and August at Dubai airport

Emirates confirms halting ticket sales by travel agents in Greece

The airline’s sales office in Athens will remain open for bookings, it clarified

UAE stock market regulator chief said to be retiring

Abdullah al-Turifi is a founding member of the Securities and Commodities Authority

Dubai’s non-oil businesses see sluggish growth in June

Business confidence in the emirate remained high despite a slower rate of increase in new orders and growth in June

Sheikh Mohammed: Dubai hits first goal of strategy to become Islamic economy hub

Dubai has overtaken Malaysia and London for the listing of Islamic bonds on its exchanges

Qatar National Bank Q2 net profit rises 10%, beats forecasts

QNB, aiming to become the largest bank in the MEA by 2017, said loans and advances rose 9.2 per cent in the first half of the year

Oman takes legal action against Bulgaria over bank collapse

Oman’s biggest sovereign wealth fund owned a 30 per cent stake in Corporate Commercial Bank

Saudi regulator accepting applications from credit rating agencies

Agencies which apply before the end of August will be allowed to operate until they receive a licence

Dubai house rents to fall by 4% in 2015- report

Dubai is unlikely to see a steep growth in rents as the market stabilises, a new report says

DIFC Courts says 447% rise in value of claims in first half of 2015

The average value per claim in the Court of First Instance increased 490 per cent to Dhs 106.4m

Oman plans $600m solar energy plant to save on gas use

Construction of the first phase of the plant, ultimately expected to generate 1,021 megawatts, will start this year

Marka signs Dhs 31m franchise deal for ice cream brand Morelli’s Gelato

Post the deal, Marka plans to open 17 Morelli’s outlets in the MENA region by 2020

Saudi’s Mobily unlikely to stabilise before next year – chairman

The company has been rocked by accountancy issues which have forced it to restate financial statements dating back to 2013

US-led coalition launches new counter-terrorism centre in Abu Dhabi

The Sawab Centre will use direct online engagement to counter terrorist propaganda used to attract foreign fighters to ISIL’s cause

Tunneling work begins on mega Riyadh Metro project

The 176 km six-line driverless network is scheduled for completion in 2019

Three senior staff at UAE’s Arabtec quit, new CFO appointed

The changes follow a series of management upheavals at the company since June last year

UAE Central Bank issues braille currency notes for Dhs 500, Dhs 5

The new tactile features will be engraved in bleed-off intaglio printing on the edge of the banknotes’ short sides

Improving business productivity through application-optimised networks

Application-optimised networks are key for meeting business objectives, writes Brocade MENA sales manager Fayez Eweidat

Oil prices fall as China share crisis worsens

China’s stocks tanked further on Wednesday in a deepening crisis as over 500 Chinese-listed firms suspended trading

UAE collects labour fines worth Dhs 37.5m during grace period

The ministry said that 27,962 companies have resettled fines relating to 58,365 workers registered under their sponsorships

UAE crude oil exports to fall in Q4 on refining boost -sources

The added refining capacity is expected to eat into crude available for exports, Gulf-based oil and trading sources said

Movenpick Hotels & Resorts to open fourth hotel in Jeddah

The new hotel is scheduled to open in the first quarter of 2019 and will be located on Prince Sultan road in Jeddah

Abraaj Group buys majority stake in Nigerian mattress maker Mouka

The founding family of Mouka who will retain a minority stake in the company, a statement said

UAE cabinet approves draft law on bankruptcy

The draft law reportedly presents “flexible strategies” to bailout businesses that are facing bankruptcy

UAE businessman Abdullah al-Ghurair gives third of assets to charity

Al Ghurair has donated a third of his assets to an educational foundation as part of a charity drive

Kuwait stops issuing visas for expats’ parents

The government has also reformed the validity of family visit visas issued for expats, an official said

Stock news: Oil plunge may depress Gulf; Emaar Misr key for Egypt

Brent crude dived more than 6 per cent on Monday into the $56 a barrel level

Three Saudi brothers arrested over links to Kuwait ISIL bombing

The bombing, which killed 27 people, was Kuwait’s deadliest militant attack

Sheikh Mohammed reaffirms UAE’s focus on gender equality

The UAE set up the Gender Balance Council earlier this year to empower women in the country