Oil Hits Fresh 2015 High On Weaker Dollar, Libya Supply Woes

Brent crude jumped 76 cents to $68.28 a barrel by 0603 GMT, after earlier hitting a 2015 peak of $68.53.

Warplanes Strike Yemen’s Saada And Hajja Provinces-Residents

The strikes occurred after Yemen’s Houthi fighters fired mortar bombs and rockets at a Saudi Arabian border town on Tuesday.

Dubai’s Arabtec Names New Chairman

Abu Dhabi businessman Mohamed Thani Murshed Ghannam al-Rumaithi was elected as the new chairman.

Saudi Oil Minister Naimi Optimistic About Kingdom’s Oil Future

The minister said that he saw a bright future for education, training, development and manufacturing in the Kingdom.

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OPEC Policy Rollover Likely In June As Oil Rebounds -Delegates

While the June meeting in Vienna is likely to hear demands from some members for a reduction in the amount of oil pumped, a curb is largely unlikely.

Houthi Missiles Hit Saudi Border Town; Airforce To Retaliate

The projectiles struck a girls’ school and a hospital in Najran, which is only two miles from Yemen’s border, officials said.

SAP CEO Dismisses Acquisition Of “Commoditised” SalesForce.com

Bill McDermott said the company had “zero interest” in Salesforce.com.

Saudi’s Riyad Bank Plans Capital-boosting Bond Issue

Saudi Arabia’s fourth-largest lender by assets, plans to issue 4 billion riyals ($1.07 billion) of bonds.

SALIC-Bunge JV To Compete In Saudi Wheat Tenders

The tenders attract major traders including Louis Dreyfus, Noble, Glencore and ADM.

Sharjah Launches Dhs80m Leisure Island Project To Attract Tourists

The island will consist of a Butterfly House, a literature pavilion and art sculptures, the emirate’s agency said in a statement.

Jordan Q1 Tourism Income Falls 11.9% As Westerners Stay Away

Jordan shares frontiers with Iraq and Syria, where ISIL has seized swathes of territory.

Emirates Vows “Sledgehammer” Reply To Subsidy Allegations

Three American airlines alleged in January that Emirates, Etihad Airways and Qatar Airways received more $40 billion in state subsidies in the last decade.

Saudi Privatisation May Accelerate, Says Tadawul CEO

Adel al-Ghamdi said he believed 10 companies might be possible candidates for privatisation

Abu Dhabi Fluorides Plant Eyes Demand From Gulf Aluminium Smelters

Commercial production has begun at the 1.5 billion dirham ($410 million) newly-built facility.

Officials Call For Open Skies Policy, Single GCC Visa To Improve Regional Tourism

With parts of Middle East in turmoil, industry officials look optimistically at intra-regional tourism.

Dubai’s DP World To Start Benchmark USD Bond Meetings Thursday

Sources told Reuters last month that the firm could raise between $750 million and $1 billion from the senior unsecured Reg S/Rule 144A issue.

India To Sign Port Deal With Iran, Ignoring US Warnings

India and Iran agreed in 2003 to develop a port at Chabahar on the Gulf of Oman, but the venture has made little progress because of Western sanctions on Iran.

Saudi Aramco In Negotiation To Buy 1.7 Million Barrells Gasoil For May

The spot requirement comes even after the country added 800,000 barrels per day (bpd) of capacity in two new refineries over the last two years.

Dubai Airport Passenger Traffic Up 7.25% Y-o-Y In March

Dubai Airports also said construction would begin later this year on expansion of the passenger terminal at Dubai World Central.

Saudi Hardware Retailer SACO’s IPO Meets Strong Demand

SACO, a popular supplier of building tools and mechanical equipment in the kingdom, offered 2.88 million shares to individual investors.

UAE’s Dana Gas Q1 Profit Tumbles 73% On Lower Oil Prices

The firm made a net profit of $12 million in the three months to March 31, down from $45 million in the prior-year period.

Brent Crude Slips Towards $66 On Saudi Plan To Halt Yemen Bombing

A stronger US dollar also weighed on the dollar-denominated commodity.

Egypt To Attract 20% More Tourists This Year – Minister

About 2.15 million tourists visited the country in the first quarter, up 6.9 per cent from a year ago.

Saudi Non-oil Business Growth Slows, Impact Of Royal Largesse Fades

Employment continued to increase but at a slower pace.

Saudi Sets Ownership Caps As $575bn Bourse Opens To Foreigners

A single foreign investor will be able to hold no more than 5 per cent of any listed company, while total foreign ownership of a firm will be limited to 20 per cent.

UN Urges Saudi-Led Coalition To Stop Targeting Yemen Airport

The statement comes as the UN prepared a plan to set up an air-bridge to bring humanitarian workers into the country.

Rotana Plans Expansion Into Europe, London In Focus

The group is looking to open a hotel in London in order to attract GCC tourists travelling to the UK.

Qatar Airways To Launch Three New US Routes In 2016

The carrier also confirmed that it would add a second daily service to New York from March 1, 2016.

Gulf Countries To Create More Jobs In 2015 Despite Oil Price Fall

Qatar is expected to create the most number of jobs in the Gulf this year as it readies for the World Cup in 2022.

Saudi-Led Alliance Mulls Humanitarian Truce In Yemen

The Dubai-based channel also quoted Adel al-Jubeir as warning Yemen’s dominant Houthi group against exploiting any truce in the country in its favour.