UAE hopes to earn revenues of up to Dhs 12bn by introducing VAT

The country plans to begin levying value added tax in 2018

Middle East passenger traffic jumps by 9.8 per cent due to lower fares

ight volume flatlines as global exports suffer

Retailer Lulu to invest $186m in Saudi expansion

UAE group’s chairman Yusuffali MA plans to open new hypermarkets across the kingdom by 2017

Emirates defers launch of world’s longest flight to Panama

The service, originally set to begin on February 1, has now been postponed until March 31

Oil up on Saudi, Russia meeting

Saudi government to keep majority stake in Aramco

Analysts say the company could be worth as much as $10 trillion

Dubai Creek development to feature ‘largest swimming pool in Middle East and Europe’

Crystal Lagoon, builder of the world’s largest pool, has been contracted to build the facility

Xiaomi launches in Middle East, aims to be fifth in terms of sales within a year

Devices from the world’s fourth largest smartphone manufacturer will be sold exclusively through Etisalat in the UAE

Al Jazeera America to shut down by April

Qatar-based Al Jazeera Media Network plans to expand digital outlet in the US

Iran releases 10 detained US sailors

The sailors were held overnight after their boat “inadvertently” entered into Iranian waters

Oil prices unlikely to reach above $40 per barrel in 2016 – survey

Crude oil prices touched a 12-year low of just over $31 per barrel last week

Emaar awards construction contract for Dubai Creek Residences project

The project, which includes six residential towers, is scheduled for handover in 2018

Obama: Middle East undergoing “transformation”; ISIL conflict not world war III

The US President urges for continued fight against ISIL in his final State of the Union speech

Qatar’s QNB announces 7.7% profit growth in 2015

The lender attributed improved revenues and cost controls for the growth in profit

Saudi riyal forwards drop to record low

Low oil prices have raised speculation that the riyal could be unpegged from the dollar

Exclusive: Netflix in talks to get the rights for House of Cards series in UAE

The internet TV network launched in the UAE and 129 other countries last week

GCC can diversify revenues without raising taxes – study

Regional governments can generate at least 10 per cent of their gross domestic product through a number of non-tax revenue options, new research shows

Wyndham to open four new Ramada hotels in the Middle East

Wyndham’s Ramada Resort Dead Sea and Ramada Jeddah Corniche are already open while its two properties in Bahrain are set to open on March 31, 2016.

Etihad Airways’ passenger numbers grow by 17% in 2015

The airline carried around 17.4 million passengers last year

Dubai Airports calls for volunteers as it tests new Dhs 1.9bn Concourse D 


The new facility, anticipated to open this year, will have the capacity to handle 18 million passengers annually

Dubai Parks and Etisalat plan world’s first smart theme park

Collaboration will see smart functionality integrated into Dubai Parks and Resorts’ upcoming leisure destination

Islamic finance industry worth $2tr by end of 2014, says AMF chief

Director-general of the Arab Monetary Fund says the industry grew 20 percent between 2000 and 2015

Dollar strength could see oil hit $20 – Morgan Stanley

US bank warns of further declines if the currency’s strength continues

Cedar – consulting services to help businesses through challenging economic cycles

Sanjiv Anand outlines his recommendations to clients for 2016

Emirates launches A380 to Washington DC, adds second daily service to Geneva

Dubai carrier will start A380 services to Washington DC from February 1 and add an extra flight to Geneva from June 1

David Bowie: world mourns the loss of iconic British legend

Starman was an innovative businessman who merged ‘rock and stock’ with his invention of the ‘Bowie Bond’

Home insurance requests soar in the UAE after Address fire

Insurance requests were up three times the average during the first week of the year, finds new survey

Netflix’s UAE launch: Will it cause a huge splash?

Christophe Firth offers five insights on Netflix’s recent expansion into 130 new countries worldwide

GCC energy reforms: more price hikes expected – report

Regional governments must implement measures to mitigate impact of higher energy prices on consumers and businesses

Jumeirah Group’s Gerald Lawless steps down as chief executive after 18 years

Lawless will instead head up tourism strategy for Dubai Holding, Jumeirah’s parent company

Air India cancels Sharjah-Kochi route, begins Dubai-Kochi service

An Airbus A320 aircraft with 180 seats will be deployed on the new Dubai-Kochi route