Abu Dhabi airport passenger traffic up 14.9% in May

Airport passenger traffic growth was largely driven by flights from the US, India and Italy.

Kuwait says mosque bomber was young Saudi man

The interior ministry named the bomber as Fahd Suliman Abdul-Muhsen al-Qabaa and said he flew into Kuwait’s airport at dawn on Friday

Dubai Holding appoints new managing director, CEO

The current CEO Ahmad Bin Byat has been promoted to vice-chairman and managing director while COO Fadel Al Ali will take over as CEO

Saudi’s Almarai gets final $210.6m bakery fire compensation

The Saudi Arabian company had already received SAR 250m from Arabian Shield Cooperative Insurance Co in late March

Saudi’s Mobily to reissue 2014, Q1 2015 results after regulator probe

The company made the statement after a team appointed by the Capital Market Authority identified concerns over Mobily’s contracts with customers

UAE minister says ‘solid political will’ required to fight terrorism

UAE’s minister of foreign affairs Anwar Gargash said that recent attacks indicated the severity of the challenge ahead.

Saudi-led jets bomb Yemen as Hadi government rejects new talks

Talks in Geneva last week ended without a resolution to the conflict, which has claimed more than 2,800 lives

ISIL supporters tweet alleged photos of Tunisia hotel shooter

The photos provide a view from the rear of a man walking down a street and holding an assault rifle

HSBC Bank Oman agrees to sell Pakistan business to Meezan Bank

The deal is expected to be completed during the second half of 2015, the bank said in a statement

French group to invest at least $150m in Saudi’s Kingdom Holding

Aeroports de Paris, insurer AXA and construction group Eiffage are among the companies in the consortium led by France’s Caisse des Depots (CDC).

Kuwait says detains driver of vehicle that took bomber to mosque

The interior ministry said the driver of the car was an illegal resident named Abdul-Rahman Sabah Aidan

Coordinated or not, attacks show ISIL’s growing reach

The ultra-radical group clearly now poses a threat far beyond its heartland in Syria and Iraq as recent attacks show

ISIL suicide bomber kills 27, wounds 227 in Kuwait mosque

It was the first suicide bombing at a Shi’ite mosque in Kuwait and worst militant attack in the country for many years.

Air Seychelles appoints ex-Etihad official as new CEO

Roy Kinnear, who was a senior vice president at Etihad Airways, replaces Manoj Papa.

Saudi investor’s Ethiopian farms to raise coffee, tea output

Horizon Plantations and Ethio Agri-CEFT plans to more than double its coffee production and expand tea output.

Oil price drop is a major challenge for the GCC’s construction sector

The construction sector’s contribution to the region’s GDP almost remained flat from 5.5 per cent in 2010 to 5.7 per cent in 2014

UAE among top 10 nations best equipped for global change – KPMG

The global change readiness index ranks 127 countries best prepared to respond to political, economic and social change

Middle Eastern buyers to account for up to 30% of London’s home sales

Investors from the region are returning to the UK’s real estate market as they look to tap into pent-up demand

France, Saudi Arabia seeking to sign deals worth $12bn

The countries set up a joint committee in May to finalise some 20 projects across sectors ranging from defence to transport infrastructure

Saudi Yasref refinery reaches full capacity milestone

The refinery is now processing crude at full capacity of 400,000 barrels per day

Saudi Arabia loses spot as top crude supplier to India, China in May

The kingdom fell behind Nigeria for Indian supplies and lost out to Russia and Angola for crude supplies to China

Qatar building materials costs to surge ahead of FIFA World Cup in 2022

Qatar is set to spend more than $200bn on the soccer tournament as part of a 2030 development plan

Saudi carrier takes 50 Airbus planes in Islamic leasing deal

Dubai-based International Airfinance Corporation will buy the aircraft and lease them to Saudi Arabian Airlines

UAE officials survive bomb attack by Al Shabaab in Somalia

The attack, which was targeted at an aid convoy that included the UAE’s ambassador, took place in Mogadishu’s Hodan district

DEWA awards contracts worth Dhs 1.2bn for 15 substations

The authority is also planning to build three substations, especially to deal with rising power demand during Expo 2020

UAE tops MasterCard’s regional growth index

The report attributed the UAE’s top ranking to its perseverance in diversifying its economy away from oil and gas

Qatar building boom proves a challenge for foreign construction firms

Project delays and problems with contracts and bureaucracy have left many in difficulties and their returns uncertain.

Russia’s Lukoil says Saudi Aramco wants to raise stake in Luksar

Luksar is a joint venture between Aramco and Russia’s Lukoil

Delta Air Lines CEO: ‘subsidised’ GCC carriers pose airline industry’s ‘greatest challenge’

Thousands of US jobs are being threatened because of the GCC airlines, alleges Richard Anderson

Qatar teams up with RSE to buy stake in Formula One

RSE is looking to acquire the 35.5 per cent stake from private equity fund CVC Capital Partners