Potential Loopholes Could Limit Impact Of Saudi Land Tax

One area of uncertainty is the minimum size of land to be taxed, and whether the tax will apply only to completely undeveloped land.

Is Dubai The Gulf’s New Creative Hub?

With swelling advertising budgets and projects such as the Dubai Design District, the emirate is pitching its creative credentials.

Middle East Funds Moving To Cash As Risks Rise -Survey

It is the first time since the survey was launched in September 2013 that the bears outweigh the bulls for both equities and fixed income simultaneously.

Mohamed Alabbar to acquire stake in YNAP from Richemont

Emaar Chairman’s Outside Deals Stir Investor Unrest

Speculation persists that Mohamed Alabbar and Emaar could soon part ways despite a categorical denial from the firm last month.

Etihad Purchase Of Darwin Stake Gets Swiss Approval

The Abu Dhabi carrier agreed to buy a 33.3 per cent stake in Lugano, Switzerland-based Darwin at the start of 2014.

Arabtec, Egypt Agree Terms On First Phase Of One Million Homes Project

The first phase will consist of 100,000 units to be built in Egypt’s El Obour and Badr districts.

Saudi Border Guard Killed By Gunfire From Yemen – SPA Agency

Corporal Salman Ali Yahya al-Maliki was killed in the border province of Asir.

Emaar Launches Dubai Mall-Linked Apartments In Downtown

Downtown Views will have 418 residences and will feature one, two and three-bedroom apartments as well as a collection of duplexes.

UAE’s Mubadala 2014 Profit Drops On Investment Income, Provisions

The fund said in a statement it made a net profit of Dhs1.04 billion in 2014, down from Dhs1.45 billion in the previous year.

Video, Pictures: Sandstorm In UAE, Saudi Arabia

Air traffic disruptions have been confirmed in Dubai and parts of Saudi Arabia.

UAE Sandstorm Disrupts Air Traffic In Dubai, Abu Dhabi

Many flights coming into Dubai from South Asia, Iran and the GCC region have been delayed or cancelled.

Carrefour Signs Up As First Retailer For Upcoming Legends Mall In Dubailand

The 300,000 sqft mall, located within the Living Legends development, is set for completion by the end of 2016.

Dubai’s Budget Airline Flydubai Begins Chennai Flights

The carrier will operate three flights per week to Chennai.

Bahrain’s BKIC Takes 10.8% Stake In Takaful International

BKIC bought 6.7 million shares of Takaful International valued at $1.52 million from Kuwait’s Osoul Investment Co, a statement said.

Dubai’s DP World To Buy Canada’s Fairview Container Terminal For $457m

The terminal, in Prince Rupert, British Columbia, has a capacity of 850,000 twenty-foot equivalent unit (TEU).

Houthis Say Saudi Arabia Trying To Split Them From Ex-President

The Iran-allied Houthi militia has weathered seven days of Saudi-led air strikes and continued to advance on several fronts, with support from army units loyal to Saleh.

UAE Companies Law Eases Flotations, Seeks More Investment

The law reduces the minimum “free float” of shares in company flotations on the UAE’s two main stock markets to 30 per cent from 55 per cent.

Stock News: Stronger Oil Supports Saudi; Hollywood Deal Lifts Dubai

Brent crude oil futures reversed early losses to rally to $55.50 barrel.

Saudi Ma’aden Restarts Ammonia Plant After Brief Shutdown

There was no impact on production of diammonium phosphate, a fertiliser for which ammonia is a feedstock, Ma’aden said.

Bahrain Begins Issuing Multiple Entry Visas For GCC Residents

The move is expected to increase flexibility among visitors and ease access to the country, officials said.

Dubai Bank CBD To Buy $817m Of UAE Company Loans From RBS

The portfolio of loans was mostly to large United Arab Emirates-based companies.

UAE Plans To Boost Its Gas Import Capacity – Energy Minister

The UAE is building an LNG import facility in Fujairah, known as EmiratesLNG, with a capacity of nine million tonnes a year.

Dubai Ranked Second Globally For Prime Rent Growth In 2014

The emirate recorded rental growth of 8.1 per cent last year, found Knight Frank’s global index.

Viva Kuwait Q4 Profit Up 17% As Revenue Rises Faster Than Costs

Full year revenue rose 31 per cent to KD238.97 million in 2014, while operating costs increased eight per cent to KD126.26 million.

Saudi Arabia’s TAQA Sets Up Firm With Norway’s Archer

The new firm will provide wireline and mechanical intervention services for oil and gas wells.

Qatar Airways Increases Flights To Bali and Jakarta

The airline will begin increased services to Jakarta and Bali from July 5 and July 16 respectively.

Bahrain Launches Wakala Liquidity Tool For Islamic Banks

The one-week wakala contracts will allow the banks to deposit excess funds with the central bank.

StanChart Senior CEO Shankar Quits In Latest Management Change

V. Shankar has resigned as CEO of Europe, Middle East, Africa and Americas after 13 years at the bank.

Kuwait’s NBK Sets Price Guidance For Capital-Boosting Bond

The lender has set price guidance for the bond, which will boost its Tier 1 — or core — capital, at 5.875 per cent on Wednesday.

Dubai Developer Al Barari Launches Luxury Villa Project, The Nest

The residential project will feature 99 four-bedroom villas priced from Dhs7.7 million onwards.