GCC, EU plan joint aviation agreement

Officials from both the regions held extensive talks recently to discuss an agreement based on liberated skies.

Abu Dhabi announces two new MERS cases

Health officials said that both patients are in a stable condition and are receiving the necessary medical care.

Kuwait’s Al Ahli Bank buying Egyptian unit of Greece’s Piraeus Bank for $150m

The transaction, which requires approvals from the central banks of Kuwait and Egypt, stands to benefit both lenders.

Amnesty report says 2022 FIFA World Cup host Qatar still failing migrant workers

The Gulf state denied the accusation, claiming several of the allegations were inaccurate.

Saudi shells hit Yemen aid office, killing five – local official

Artillery fire and air strikes hit the town of Maydee along Yemen’s border with Saudi Arabia in Hajja province.

Over 30% of consumers choose 20% salary cut over giving up mobile phone – study

The global mobile technology industry made revenues of almost $3.3 trillion in 2014 and is directly responsible for 11 million jobs.

Dubai’s Amlak Finance shares to resume trade on June 2 after 6-year suspension

Trading in Amlak was halted as credit markets dried up and the emirate’s real estate prices began a near-50 per cent tumble from their peak.

US regulators decline to curb expansion of Gulf airlines over subsidy row

The regulators refused to take any action while they review whether the Gulf carriers received unfair subsidies.

Dubai’s Amanat buys 4.14% stake in Al Noor Hospitals

Amanat was set up to invest in education and healthcare businesses in the UAE and other Gulf states.

Visa, FIFA sponsor, expresses “grave concern” over Qatar workers

The announcement came two days after the pressure groups renewed their call on FIFA sponsors to put pressure on the governing body over the issue.

Boeing appoints Bernie Dunn as head of Mideast business

Dunn had been president of Boeing Turkey and North Africa since July 2012 and succeeds Jeff Johnson.

Saudi regulator cancels Arabian Contracting float at company request

Last week, approval was issued for the sale of a 30 per cent stake in Arabian Contracting, with the offer set to run between June 10 and 16.

DFSA fines United Investment Bank Limited $56,000

The financial freezone regulator said the bank was guilty of flouting anti-money laundering rules.

Low oil prices slow IPO activity in GCC- PwC

The bearish run of oil prices- a key driver of economic growth in the region- has largely affected the IPO activity.

Dubai property rents drop, unlikely to rise sharply in the short-term – report

Average rents across the emirate are down 1.5 per cent compared to the same time last year, says Cluttons’ latest report.

Saudi Arabia, partners turn down Chinese requests for extra oil

Research found Saudi Arabia’s share of Chinese crude imports dropped to just over 30 per cent in May from 36.5 per cent in April.

Dubai house prices to fall further this year – Cluttons

Home values slipped 0.8 per cent in the first quarter, leaving average prices 0.5 per cent lower than a year earlier and 19.4 per cent below the 2008 peak, a new report says.

Emaar says IPO for hospitality unit remains on hold

The Dubai-based company has said that the IPO for EHG will be dependent on the right market conditions.

UAE’s Abraaj Group to invest $30m in Middle East SMEs

The company is investing in a new fund, which aims to address the funding gap for SMEs in the Middle East, North Africa and South Asia region.

Dubai’s Emaar announces intention to float Egypt unit on Cairo bourse

Emaar said it would use some of share sale proceeds to fund new developments in Egypt and grow its land bank in the country.

Yemen government says no peace talks with Houthis yet

The government made no mention of the proposed peace talks, but instead called for military aid for groups fighting the Houthis and for international intervention.

UAE’s RAKBANK makes offer to buy RAK National Insurance

The bank is looking to buy all or some of the shares of the insurance company at a price of Dhs3.64 a share.

UAE sentences five Qataris to jail for insulting leaders on Twitter

All accused in the case were also charged with a fine of Dhs1 million for the offence in addition to the jail term.

Qatar Airways to fly A350 to Munich

Bavarian city set to become second German destination to have double-daily A350 flights

Despite rumours, Apple remains mum about Dubai store’s launch in August

The tech giant will open its biggest store worldwide in Dubai this summer, say reports.

UAE salaries to grow by 6% in next 12 months- survey

The majority of HR directors in the UAE noted a return of salary inflation for existing and new employees, a new study says.

Five luxury homes you can buy for $1m

Property site Lamudi lists five properties in emerging markets around the world that have a price tag of around $1 million.

Dubai World Trade Centre converted to a freezone

The move aims to boost Dubai as a hub for regional and international exhibitions while also attracting local and international investments.

Saudi Arabia advertises for eight new executioners

No special qualifications are needed for the jobs whose main role is “executing a judgement of death” and to perform amputations on those convicted of lesser offences, an advert showed.

Saudi Arabian Airlines fined $1.6m for breaking EU aviation law

The airline was fined by the Belgian government for breaching EU carbon emissions rule.