Saudi Foreign Minister, Other Top Officials Head To Qatar To Heal Rift

Saudi, Bahrain and the UAE recalled their ambassadors to Qatar in March, accusing Doha of interfering in their internal affairs.

Ras Al Khaimah Nets $118m In Tourism Revenues In H1

Occupancy levels across Ras Al Khaimah’s hotels reached 64.11 per cent while the average daily rate amounted to $69.85, generating revenues worth $14.9 million.

Nakheel To Build 12-Storey Residential Tower For Lease In Palm Jumeirah

The developer has awarded a contract worth around Dhs75 million to UAE-based Trojan General Contracting to build the complex.

Former CEO Of Dubai’s Arabtec Says Wants Over Dhs5 Per Share

Hasan Ismaik, the former CEO of Arabtec, confirmed that he was in talks with Abu Dhabi state fund Aabar to sell part of his stake.

IMF’s Lagarde Put Under Investigation In French Fraud Case

Christine Lagarde was questioned by magistrates in Paris for a fourth time this week under her existing status as a witness in a political fraud affair.

Dubai’s GEMS To Open Its First School In Qatar

GEMS American Academy-Qatar will begin with primary school but will expand to secondary education in the coming years, the operator said in a statement.

HOK-Arup Consortium Appointed To Design Dubai Expo 2020 Host Venue

The contractors, who designed the project from the Expo 2020 bid phase, are currently undertaking site readiness activities.

Dubai’s Damac Launches More Units For Sale At AKOYA Oxygen Project

The developer said that it preponed the second release of units at the AKOYA development owing to strong investor demand.

Stock News: Arabtec Lifts Dubai

Investors are hoping Abu Dhabi’s Aabar will soon buy a part of the 27.9 per cent stake held by Arabtec’s former CEO Hasan Ismaik.

Aldar Readies To Open Abu Dhabi’s Largest Geant Store In Yas Mall

Yas Mall, set to open in November, is slated to become the emirate’s first ‘super-regional’ mall.

Gaza Ceasefire Holds As Focus Turns To Longer Term

The deal, which took effect on Tuesday evening, called for an indefinite halt to hostilities and the immediate opening of Gaza’s blockaded crossings with Israel and Egypt.

Bahrain’s Gulf Finance House Gets $105m Facility From Kuwait Finance

The facility will help GFH redeem two syndicated debt facilities and allow the release of some major assets.

Iranian Minister Says Saudi Talks “Constructive”

Hossein Abdollahian was in Jeddah for the first high-level talks between the two nations since Hassan Rouhani was elected Iran’s president.

Apple Planning 12.9-Inch iPad For 2015

Apple has been working with its suppliers for over a year on larger touch-screen devices, Bloomberg reported.

Saudi Holds Eight Suspected Of Inciting Youths To Fight Abroad

Saudi Arabia has banned citizens from fighting abroad, donating money to any faction or sympathising with militant ideologies.

Burger King To Buy Canada’s Tim Hortons For $11.5 billion

The deal will create the world’s third-largest fast food restaurant group, with sales of about $23 billion.

Game Over: Has Sony’s PS4 Won The Console War?

Figures indicate that the PlayStation 4 has performed much better than its rival, Microsoft’s Xbox One.

Standard Chartered Looking To Sell Part Of UAE Business

As part of a US settlement last week, the bank agreed to end high-risk relationships with SMEs in the UAE.

Kuwait Energy Keen To Invest More In Iraq – CEO

Sara Akbar said the violence in Iraq was temporary and could not overshadow the country’s vast potential for relatively easy oil.

Israeli Air Strikes Target More Gaza High-Rises

Israeli attacks flattened the 13-storey Basha Tower and the 16-storey Italian Complex.

Iran Oil Minister: Oil Prices Appropriate, Decline Is Short-Lived

Brent crude edged up towards $103 a barrel on Tuesday, although supply pressure and weak economic data in consumer countries curbed gains.

Abu Dhabi’s Watania Says Regulator Approves 60.53% Stake Sale

MB UAE Investments will acquire 51 per cent and Al Madina Insurance Co will get 9.53 per cent of Islamic insurer National Takaful Co (Watania).

Dubai’s TECOM Launches New Freehold Villa Community In Barsha

The development, called Villa Lantana, will feature 440 units including three, four and five bedroom homes.

Qatar Seeks To Free More US Hostages In Syria

The Gulf Arab state’s diplomacy recently helped free Peter Theo Curtis, an American journalist held since 2012.

Kuwait Replaces Head Of Market Regulator After Political Backlash

Nayef Al-Hajraf replaces Saleh Al-Falah, who had held the post since the Capital Market Authority began operating in early 2011.

MAF Says Phase Two Of Mall Of The Emirates’ Dhs1bn Expansion Begins

The new phase will include a redesigned VOX Cinemas complex and the launch of new fashion brands and F&B outlets.

UAE Clamps Down On Drivers Using Mobile Phones

Officials in the country have also said that applying make-up while driving will draw a fine of Dhs1,000.

Christie’s Real Estate Plots Dubai Launch

Property to be sold by the unit includes a 75 million euro Arabic palace.

Three Chinese Engineers Kidnapped In Southeast Turkey

The workers were seized from the town of Silopi by suspected members of the Kurdistan Workers Party (PKK).

Amazon Buys Live Video Startup Twitch For $970m

The deal is expected to close in the second half of the year.