Open skies with GCC crucial for US economy – senior Boeing official

Three US carriers are calling for an end to the US’ open skies agreement with the UAE and Qatar over a subsidies row

Egypt says New Suez Canal to open Aug 6, eyes economic boost

The army began work 10 months ago on the $8 billion canal in order to expand trade along the fastest shipping route between Europe and Asia.

US sends six Yemeni prisoners from Guantanamo to Oman for resettlement

The six men sent to Oman were identified as low-risk detainees cleared years ago for transfer.

Egyptian court jails 23 men over killing of Shi’ite Muslims – sources

The four victims, one of whom was a prominent cleric, were killed in June 2013 when a mob stormed a house in a small village near Cairo.

Kuwaiti opposition figure arrested, sent to serve two-year jail sentence

Musallam al-Barrak, a former member of parliament, has long been at odds with the authorities over changes made in 2012 to the election law.

China denies its missiles being used by Middle East militants

Experts said that lightweight man-portable air defence systems had been looted from Libya or otherwise acquired by the militants, posing a threat to commercial flights.

Dubai hotels: Doors wide open, but are people coming?

Dubai’s hotel operators have traditionally seen high levels of occupancy. But with currency devaluation and growing supply, how is the industry coping?

Saudi Aramco says no cut in oil exports despite local demand

The company officials said while Chinese oil demand was stabilizing, the highest growth was likely to come from India in the second half of this year.

Nakheel makes Dhs220m sukuk profit payment

The profit payment will be made to all sukuk holders on June 15, 2015 against the sukuk issued amount of Dhs4.4 billion

Dubai hotels saw revenues drop between Jan-Apr – EY

The recent drop in oil prices along with a decrease in travel from Russia and Europe caused the slump

Gulf states defend Qatar 2022 World Cup

The UAE’s and Qatar’s official news agencies said Gulf information ministers had called Qatar’s winning of the hosting rights “a success for all the states of the GCC”.

Jean-Georges Dubai Opens JG Dining Room

Michelin-star chef’s arrival raises the stakes in city’s competitive F&B scene

Luxury Belgian chocolatier Godiva plans major UAE, Saudi expansion

The company aims to double the number of outlets in the UAE and Saudi Arabia in the next six to 12 months

Emirates Global Aluminium says to cut 4% of workforce

The move, which would see around 250 support positions eliminated, is aimed at creating a leaner entity and increasing competitiveness.

Abu Dhabi ruler issues law to regulate property market

According to the decree, all real estate developments must be registered with the government along with sales transactions listing the buyer.

Royal Enfield opens first store in Dubai

The store will sell Enfield’s popular bikes such as the Bullet, the Continental GT 535cc café racer, the Rumbler and the retro street model Classic.

Abu Dhabi’s Royal Jet gets $117m loan to fund aircraft buys

The two Boeing 737-700 BBJ aircraft are due for delivery in September and December

Emirates airline sees more opportunities to fly in Europe

CEO Tim Clark says governments, airports and organisations in Europe frustrated with local airlines have asked Emirates to start offering international service

France nears $1.1bn Kuwait deal to sell Airbus helicopters

The contract is for the sale of 24 Airbus-built military helicopters to Kuwait

Different Arab money

Sovereign wealth funds turn to internal fund management

Sovereign wealth funds in the Middle East have the highest return expectations of sovereign funds globally

UAE’s Masdar in talks with Germany’s RWE on green energy projects – source

RWE’s CEO Peter Terium had said earlier that the company was in talks with an Abu Dhabi investor regarding joint renewable energy projects, but declined to reveal its identity.

Video: flydubai’s latest 737 takes shape in Boeing’s Renton factory

Boeing’s 737 manufacturing facility in Renton produces 42 airplanes every month

UAE fixes price of 3,500 food items before Ramadan

The ministry said that it has signed a deal with retailers to offer discounts of up to 70 per cent during Ramadan on about 4,700 essential food items.

Aluminium Bahrain gets approval for $3.5bn expansion

Construction is expected to start in 2016 and production to begin in 2019, the company said.

Emirates signs codeshare deal with Europe’s Flybe

The deal, due to be implemented in July, provides the Dubai carrier with greater access to the UK and Europe

Emirates airline says to submit response soon in Open Skies row

The official did not specify a date by which the airline would file its responses to subsidy allegations

Buyout firm Arcapita sells $640m US real estate portfolio

The portfolio includes 16 facilities and 4,000 residential units for continuing senior care, the company said in a statement.

Qatar Airways threatens to quit oneworld alliance over subsidy row

The airline’s CEO Akbar Al Baker accuses one of his American partners of blocking its expansion

DIFC announces 10-year plan, says will triple in size by 2024

The financial free zone hopes that Dubai’s financial sector will raise its GDP contribution to 18 per cent over the next 10 years

Abu Dhabi airport passenger traffic up 15.5% in April

The busiest routes in April were London Heathrow, Bangkok, Manila, Doha and Mumbai.