Abu Dhabi fund ADIA names Pandtle head of US internal equities

Pandtle, who previously worked at Eagle Asset Management, will oversee the management of US-focused equity portfolios run by the fund.

Lenovo to bring Motorola brand to Middle East later this year

The move will see Motorola smartphones available in the region for the first time.

New Bollywood movie ‘Dishoom’ to film in Abu Dhabi

The movie, starring John Abraham and Varun Dhawan, is scheduled to film in the emirate in late 2015.

Bahrain sovereign fund Mumtalakat 2014 net profit up 10.8%

The fund holds stakes in Bahraini companies including Aluminium Bahrain (Alba), Gulf Air and Batelco.

If you want Qatar state contracts, give us flight slots, says airline CEO

Akbar Al Baker’s remarks come after the Dutch government said it will temporarily stop granting new slots at Schiphol to Gulf airlines.

Nakheel says work on The Pointe mall at Palm Jumeirah 30% complete

The developer says Dhs800 million mall on track for opening in 2016.

Iran, Oman discuss Yemen war, settle maritime borders

Foreign ministers from both the countries discussed implementing a ceasefire in Yemen.

Dubai’s Marka acquires stake in UK-based e-commerce site Icons

The company purchased a 65 per cent stake in sports merchandise retailer Icons for a value of Dhs15.3 million.

Dubai Aerospace sells US aircraft maintenance firm StandardAero

The terms of the transaction were not disclosed but earlier reports hinted that the sale was worth at least $1.8 billion.

Oman cuts defence, subsidy spending, keeps investing as oil sags

Spending on “participation and support”, which includes subsidies, fell 48 per cent to OMR189.0 million in the first quarter of this year.

Dubai’s Marka to invest Dhs250m in 2015, eyes two deals

The company is looking to close deals in the UAE’s hospitality and retail sectors, officials said.

Bahrain to cut subsidies for expats as oil slump bites

The government will redirect subsidy policies to benefit local citizens only, an official said.

Over 60% of UAE residents are overweight or obese – study

Egyptians and Jordanians in the UAE were found to have the highest average BMIs among residents.

Saudi’s Almarai approves $5.6bn capex plan for 2016-20

The investment will cover expansion in the areas of farming, manufacturing, distribution and logistics.

Saudi regulator to raise IPO allocations to institutional investors

The Kingdom’s stock market is dominated by retail investors in terms of daily trading volumes.

UAE to set up Dhs100m space research centre

The centre is the first of its kind in the Middle East and will help the UAE send its unmanned mission to Mars in 2021.

Tens of thousands turn up for funeral of Saudi suicide attack victims

A suicide bombing in Qatif last week, claimed by ISIL, caused the death of 21 Shi’ite Muslims.

Saudi Gulf Airlines plans to begin flights at start of November

The airline plans to fly from Dammam to three destinations, initially with a fleet of four Airbus A320s, an official said.

Reem Island murder suspect’s mental illness claims disproved in court

Alaa Bader Al Hashemi was sent for a medical examination after she claimed to be suffering from a mental illness.

Abu Dhabi eyes golf tourism to increase visitor numbers

The emirate is establishing a new committee to promote its golf tourism ambitions.

Dubai’s bourse to add trading-at-last session

The new trading-at-last session will start 20 seconds after 1355, allowing investors to place orders based on the already calculated closing prices of securities.

Abu Dhabi Islamic Bank eyes UAE expats as industry growth slows

UAE banking sector revenues rose nearly 14 per cent last year but expansion shows signs of decelerating due to factors including oil price drop and a cooling of real estate markets.

Abu Dhabi’s Gulf Capital says eyes four deals in Egypt

The company aims to hold $5 billion in assets under management by 2018, CEO Karim El Solh said.

GCC says air strikes against ISIL have not failed

Officials say that air strikes need to be complemented with other steps to effectively silence the Islamic militant group.

Egypt denies Arabtec project to build a million homes has stalled

Egyptian officials have said the entire project will cost about 280 billion Egyptian pounds ($36.7 billion).

QEWC, Mitsubishi to build Qatar’s biggest-ever power, water plant

The $3.2 billion plant at Umm Al Houl, 20 kms south of Doha, will provide 2,520MW of electricity and 136.5 million gallons per day of water.

UAE to establish common database of all patients’ medical records

The move, endorsed by the cabinet, aims to streamline healthcare services in the country.

Top 10 countries with the fastest internet speeds

Asia and Europe have the fastest internet connection speeds globally, a new report shows.

Japan’s Mitsubishi, Tepco win $2.5bn Qatar gas plant bid

The 2.4 GW plant, located 20km south of Doha, is scheduled to begin operations in 2017.

Saudi’s Emaar Economic City says expects tenant inflow to accelerate

The developer expects to attract about 50 new companies to establish operations this year, versus 35 last year, and thinks it will sell around 2,500 residential units in 2015.