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.

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.

Kuwait Finance House may sell properties, cut small number of jobs

The bank may auction the properties or offer them to be run by other operators, depending on market conditions, an official said.

Dubai named world’s second most important shopping destination

About 55.7 per cent of retailers in Dubai are international brands while the city attracted 45 new global brands last year.

MAG 5 JV launches new affordable residential tower in DWC

The project, valued at Dhs700 million, will comprise of 1,000 residential units and will be ready for handover by 2018.

Saudi Arabia’s March oil exports highest in over 9 years – data

The country shipped 7.898 million barrels per day (bpd) of crude in March, up from 7.350 million bpd in February and 7.474 million bpd in January.

Dubai Islamic Bank picks arrangers for potential dollar sukuk

DIB has mandated First Gulf Bank, HSBC, Maybank, National Bank of Abu Dhabi, Standard Chartered Bank and itself to arrange the meetings in Asia and Europe.

ICBC Dubai branch narrows price guidance for benchmark 5-yr dollar bond

The deal, rated A1 by Moody’s, has so far attracted orders totalling more than $3.5 billion from investors, a document showed.

Oil oversupply due to shale oil output rise, not OPEC – Kuwait

OPEC production had not risen by more than 200,000 to 400,000 bpd above its 30 million bpd cap since 2011, an official said.

Emirates plays off Airbus’ A350 against Boeing’s Dreamliner

Emirates’ head Tim Clark has said the airline will opt for either B787-10s or A350-900s in the next stage of its fleet development.

No impact of Oman quake on the UAE, say officials

The 5.0 magnitude earthquake hit Oman on Sunday, triggering fears of a tsunami.

Saudi-led air strikes hit Yemen’s Aden after truce expires

Bombings struck the rebel-held presidential palace in Aden’s downtown area.

BBC journalist jailed in Qatar when reporting on labour conditions

The BBC’s crew was invited to Doha to film improved accommodation for migrant workers in the country, ahead of 2022 World Cup.

Oman’s Bank Nizwa withdraws United Finance merger proposal

Nizwa said in February that it saw the proposed merger as a way to speed up its growth.

Dubai Water Canal project 33% complete, new diversions announced

The Roads and Transport Authority has opened phase II of the main traffic diversion works on Al Wasl Road.

Saudi-led alliance resumes air strikes on Yemen as ceasefire ends

Explosions could be heard near Aden’s airport and the districts of Khor Maksar and Crater, a witness said.

Qatar Petroleum to restructure following oil price fall

Earlier this year, QP said it would absorb its international unit, QPI, into its structure.

Majid Al Futtaim to invest Dhs1bn in VOX Cinemas until 2020

The funds are aimed at helping VOX attract a further 50 million customers over the next five years.

UN Yemen envoy calls for truce to be extended for five days

The five-day humanitarian truce began on Tuesday to distribute aid to the millions deprived of food, fuel and medicine by weeks of fighting.

Dubai Properties says Arabella Townhouses sell out on launch day

The developer has now launched additional units for sale within the project, which is located in its Mudon community in Dubailand.