UAE Issues Midday Work Ban

The ministry of labour has said that outdoor workers will get a two and a half hour midday break from June 15.

Qatar Safety Questioned

A day after a shopping mall blaze killed 19 people, two more fires have broken out in the country.

Saudi Issues Travel Warning

The Kingdom has warned its citizens not to travel to Yemen due to increasing insecurity in the country.

Almarai In $4.2bn Investment Plan

The five-year plan will fund the expansion of the Saudi Arabian dairy company and boost its product innovation.

Emirates May Refinance Bond

The Gulf airline may refinance a $550 million sukuk, though repayment in cash is still an option.

Dubai’s Economy Grew 3.4% In 2011

Improving tourism and strong trade flows helped the emirate’s GDP reach Dhs306.2 billion last year.

Qatar To Spend $49bn This Year

The Gulf state reveals its budget for the 2012/2013 fiscal year, estimating a surplus of QAR28 billion.

Improved Water Service For UAQ

Committee approves Dhs755 million infrastructure projects in the UAE’s East Coast and UAQ.

Saudi Needs Spectrum Change

Freeing up spectrum for Saudi’s telecoms operators may add $95.5 billion to the economy by 2025, said GSMA.

19 Killed In Qatar Mall Fire

Ministry officials have not yet determined the cause of the fire and are investigating the incident.

ADNOC Acquires EMARAT Stations

Abu Dhabi oil company signs agreement for EMARAT’s fuel stations across five emirates in the UAE.

Dubai First Launches Skyy Miles

The credit card global rewards currency model works for all airlines and covers all routes, the firm said.

DIFC Deposits Continue To Grow

Warnings for oil consumption and equities markets amidst growth of deposits and loans from DIFC companies.

Mashreq CEO: ‘UAE Banks Were Wrong’

Exclusive: Abdul Aziz Al Ghurair blamed a greed culture and a desire for growth for lurching the UAE banks into crisis.

UAE Plans Multiple Entry Visa Permit

The country plans to introduce multiple entry visas for cruise tourists by September this year.

Flydubai Gets $172m Financing

The amount, secured from a unit of Standard Chartered Bank, will be used to buy two new aircraft.

Saudia Catering Unit To Launch IPO

Saudi Arabian Airlines has got approval to list 30 per cent of its catering unit on the Kingdom’s stock exchange.

Bahrain Rents Slump

Residential rents in some areas have fallen to 2005/ 2006 levels, and occupancy levels have reached as low as 30 per cent.

JAFZA To Repay $2bn Sukuk Early

A majority of JAFZA’s stakeholders have consented to the early redemption of the Sukuk, due in November.

Kingdom Holding Sells $200m Hotel

Prince Alwaleed’s Kingdom Holding Company will retain its stake in the Fairmont San Francisco Hotel.

Omani Bank IPO Attracts $1.77bn

Bank Nizwa, the country’s first Islamic bank, will be listed on the Muscat Securities Market on June 12.

UAE Gives Up Beef With French

Imported meat ban is lifted as UAE’s Ministry of Environment and Water signs new agreement.

UAE’s Global Trade Ranking Drops

The country is ranked 19th in the World Economic Forum’s Global Enabling Trade Report this year.

HSBC’s Oman Merger Halted

Trading shares of Oman International Bank also stopped due to $5.20 million claim.

Nationals Snap Up Qatar Property

Real estate projects in Qatar are not yet seeing an interest from global investors, say industry experts.

Bahrain To Issue $1.25bn Bond

The Gulf state plans to issue the bond in the second or third week of June, a central bank official said.

Etisalat To Cut Rates By 30%

UAE telecoms operator Etisalat will reduce international call tariffs from the second half of 2012.

Saudi Signs $3bn BAE Deal

The Kingdom’s defence ministry will be buying military aircraft from UK defence company BAE.

Eurozone Crisis Is Worst Global Risk

The OECD has warned that a worsening of the crisis could have “serious consequences” for the global economy.

Emirates NBD Appoints CEO

Mohammad Kamran will head up two of Emirates NBD’s subsidiaries including Capital Limited.