Oil Prices Fall To 4-Year Lows As OPEC Production Cut Looks Unlikely

Oil prices have fallen by more than a third since June mainly due to increasing production in North America from shale oil.

Emirates To Launch A380 On Three New Routes Next Week

San Francisco, Milan and Houston are the three destinations that will be served by the jumbo jet in the first week of December.

UAE Dirham Falls To One Year Low Against Dollar In Forwards Market

The dirham is pegged to the dollar at 3.6725 and is trading in the spot market at 3.6730.

Lego Opens First MENA Store In Abu Dhabi, Plans Dubai Store “Soon”

Spread across 198 sqm, the Lego certified store is located in the newly opened Yas Mall.

UAE’s Dana Gas In Talks With Egypt Over Revising Gas Prices

The Egyptian authorities have been negotiating with a number of international energy firms to improve the price which they are paid for gas.

Dairy Queen Fast Food Brand To Return To UAE In 2015

The first Dairy Queen Treat Stores and Grill & Chill restaurants are expected by Q2 2015.

Brazil’s BRF Opens Dhs588m Factory In Abu Dhabi

The plant, which is BRF’s largest outside South America, will have production capacity of approximately 70,000 tonnes of food products a year.

Low Expectations For Oil Output Cut As OPEC Meets

Cutting output unilaterally would effectively mean for OPEC, which accounts for a third of global oil output, a further loss of market share to North American shale oil producers.

Sharjah’s Rents Soar 23% In First Nine Months Of 2014

Apartments in Sharjah continued to see strong demand, with rents rising by 35 per cent in the 12 months to the end of Q3, a new report says.

Kuwait Says Will Have To Live With Oil At $60, $80 Or $100

Kuwait’s stand comes as Gulf OPEC members reached a consensus to not cut output to stem oil price fall.

Saudi’s Naimi: Gulf Countries Reached Oil Output Policy Consensus

Al Naimi did not specify if the Gulf countries were in favour of a output cut ahead of a key OPEC meeting on November 27.

Ex Arabtec CEO Plans Sale Of Remaining Stake, Seeks Premium Price

A stock market announcement on Nov. 11 said Aabar had become Arabtec’s largest shareholder after hiking its stake to 34.93 per cent through the purchase of shares from Ismaik.

Qatar Runs Covert Desert Training Camp For Syrian Rebels

Syrian rebel sources said training in Qatar has included rebels affiliated to the “Free Syrian Army” from northern Syria.

Kuwait’s Appeals Court Cuts Insider Trading Fine Against Al Ahli Bank Chairman

In March, the Court of First Instance fined Ahmed Yousef Behbehani after a complaint by the Capital Markets Authority.

Dubai Expo 2020 Marks One Year Of Winning Bid, Provides Updates To BIE

The tender for construction works at the Expo Dubai 2020 site in Jebel Ali is expected to be awarded next year.

Dubai Lynx Reveals Jury President Line-Up For 2015

The competition will have two extra awards this year, namely the Grand Prix for Good and the University of the Year.

HSBC To Refund UAE, Oman, Bahrain Customers For Excessive Fees

The lender said it charged them excessive foreign currency fees on debit and credit card transactions.

UAE Sees Oil Price Stabilising, Steps Up Pressure On Non-OPEC

OPEC leader Saudi Arabia signalled on Wednesday it was unlikely to push for a major change in oil output.

2022 World Cup: New $1.6bn Hotel, Expo Centre Planned In Doha

The 1000-room Silver Pearl Hotel, designed by New York–based M. Castedo Architects, will be located offshore near Doha.

Jumeirah Golf Estates Launches New Residential Units Over Strong Demand

The developer did not specify the number of new units set to be launched or the estimated completion date.

Commercial Bank Of Qatar Group CEO Resigns, Appointed Board Advisor

Andrew Stevens had been with CBQ, Qatar’s second-largest lender by assets, for 25 years.

Kuwait’s Mabanee Says To Spend $910m On Mall Extension

The total project cost, including the fourth phase, stands at KD610 million.

MasterCard Launches New Digital Payment System, MasterPass In UAE

RAK Bank, Mashreq and Emirates NBD will offer digital wallets using the MasterPass system in the UAE.

New Delays Hit Saudi Aramco’s Jizan Refinery -Sources

The complex had been scheduled to be completed in late 2016, but industry sources said that it faced delays of six to 12 months because work on associated infrastructure was behind schedule.

Video: Behind The Scenes At $2.9bn Dubai Parks And Resorts

The $2.9 billion theme park complex is located in Jebel Ali and is slated to open in late 2016.

World’s Largest Roller Coaster Restaurant Opens In Abu Dhabi

The restaurant will span across 14,000 square foot and will have a network of 30 individual roller coaster tracks that loop, spiral and spin around diners to deliver the menu and food to tables.

Dubai’s Amlak Finance Signs Financial, Debt Restructuring Deal

The Islamic mortgage lender has been negotiating with creditors to finalise the deal, which was approved by shareholders in September.

Saudi’s Naimi Says Oil Market Will “Stabilise Itself Eventually”

Oil ministers from the Organization of the Petroleum Exporting Countries (OPEC) meet on Thursday in Vienna.

UAE Jails Man For Belonging To “Secret Organisation”

The 25-year-old Emirati man had disseminated misleading information at home and overseas about a court case involving the secret organisation, WAM said.

Two Policemen Injured By Bomb At Shi’ite Village In Bahrain

The Interior Ministry said the explosion in the small Shi’ite village of Deraz, west of the capital Manama, was a “terror blast”, but provided no further details.