Home Centre chief not worried by IKEA

The Landmark-owned brand is planning to increase its footprint by 50 stores in the next five years

A $70 oil floor? Fat chance, but OPEC price plan may be first step

Saudi Arabia, OPEC’s de facto leader, has shown zero interest in returning to a strategy of supporting prices

US approves $495m deal to sell Black Hawk helicopters to Saudi Arabia

The deal is expected to help improve Saudi’s defense capabilities

Middle East banks facing rare domestic currency drought

With oil prices, governments are having to shore up their finances by borrowing in the capital markets and investing less money in their banking systems

Yemen Houthis say fire missile in retaliation for Saudi “war crimes”

Scuds have been launched at Saudi Arabia from Yemen several times during the nearly seven-month-old war

Jordan’s Prince Ali formally submits candidature for FIFA presidency

The election to replace departing leader Sepp Blatter is currently scheduled for February 26

Apple to open new stores in Dubai and Abu Dhabi on Oct 29

As expected, the stores will be located in Dubai’s Mall of the Emirates and Abu Dhabi’s Yas Mall

Saudi Arabia targets Russia in battle for European oil market

Russia has for years been muscling in on Asian markets where Saudi Arabia was once the unchallenged dominant supplier

UAE to save Dhs 9.1bn by slashing fuel subsidies

The majority of savings from fuel subsidy cuts will be pumped back to the economy in the form of various investments, the UAE’s minister of energy said

Bahrain’s Gulf Air in final talks to buy 50 aircraft -CFO

Gulf Air said negotiations with manufacturers were expected to finish by the first quarter of 2016

Arab coalition slowing aid efforts in Yemen – U.S. Navy report

The Arab coalition denied the allegation and said it was keen for ships to take in relief

Nakheel awards Dhs 27.5m contract for road works at Jumeirah Village Circle

The developer also said that it has issued a tender to build a new road that will link the community to Hessa Street

Saudi bourse regulator tightens curbs on anonymous investors

The Capital Market Authority told licensed brokers that they would have to open an account in the name of each client rather than using the name of the broker or someone else

Hilton to open new hotel under Curio collection in Dubai

The two-tower Rosemont Hotel and Residences is set to open on Sheikh Zayed Road in 2018

Bahrain Investcorp’s U.S. unit buys eight residential properties for $400m

Investcorp acquired properties in the metropolitan areas of Las Vegas, Denver, Chicago, Atlanta and Dallas, it said in a statement

Abu Dhabi’s Al Noor Hospitals to merge with Mediclinic

Post the deal, Al Noor will be called Mediclinic International plc, a statement said

Exclusive: Gargash plans new Alfa Romeo showroom in Abu Dhabi

UAE-based distributor Gargash Motors will also be enhancing its Alfa showroom in Dubai

GCC’s insurance industry to reach $62.1bn by 2020

Oil price volatility and a slowdown in economic growth could hit the GCC insurance industry’s growth this year, a new report shows

Middle East’s first 7-Eleven store opens in Dubai, more planned

The new 2,000 square foot store is located near Downtown Dubai and a second is planned for Marina

Saudi foreign minister: No future for Bashar al-Assad in Syria

Adel al-Jubeir said that Riyadh’s position on Syria had not changed

UAE, Germany plan talks over Air Berlin-Etihad code share

Air Berlin and Etihad are still awaiting approval for this winter’s flight schedule

Saudi brings forward state spending deadline in budget clampdown

The kingdom is grappling with a budget deficit which economists estimate could total $120bn or more this year

Twitter to cut up to 8% of global workforce

Twitter said it expected to incur about $10m-$20m in severance costs and $5m-$15m in restructuring costs

gender gap 2022

GCC family businesses generate $100bn in annual revenues – report

Almost 70 per cent of Middle East businesses are family-owned, a new report shows

Apple iPhone 6s review: First impressions

Enhanced camera capabilities and 3D Touch are interesting features

Iran boosts oil trade via UAE ahead of sanctions relief

The trading sources said Iranian fuel oil shipments are still being presented with documents declaring it of Iraqi origin at the ship refuelling hub of Fujairah

Abu Dhabi rents rise as experts call for more affordable housing

Average apartment rents rose about 7 per cent year-on-year in Q3 while villa rentals were up 3 per cent

UAE’s Etihad Airways signs $700m IT deal with IBM

IBM will provide a global technology framework for Etihad and its partners, including setting up a cloud data centre in Abu Dhabi that will be developed and operated by it

New smartphone brand Wileyfox to launch in GCC

Wileyfox, which launched in Europe this year, is targeting the affordable segment

UK seeks release of Briton facing 350 lashes in Saudi Arabia

Karl Andree, 74, was jailed for 12 months in August last year after being caught with homemade wine in Saudi