5 minutes with… Carsten Schaeffer, VP Lufthansa EMEA

A quick catch up with the regional boss of the Germany’s national carrier.

Qatar Deposits $2bn To Support Egypt

The Gulf state is aiming to provide a much needed boost to support Egypt’s declining economy.

Apple Drops YouTube App In New Software

Next generation iPhones and iPads will no longer have Google’s YouTube app pre-installed in the software.

Standard Chartered Questions New York Action

New York’s top bank regulator has threatened to revoke the bank’s state licence over alleged Iran ties.

Saudi Grants Licence To Chinese Bank ICBC

The Kingdom’s cabinet has given a licence to the Industrial and Commercial Bank of China (ICBC) to open one branch in Saudi.

Standard Chartered May Lose NY Licence Over Iran Ties

New York’s top bank regulator has accused the UK-based bank of hiding $250 billion in transactions tied to Iran.

Exclusive: US Ambassador On Middle East Turmoil

American Ambassador to the UAE Michael Corbin speaks to Ian Fairservice and Alicia Buller about his hopes for Middle East economic stability.

Middle East Airlines Post Strong Growth Rates

Carriers in the region saw passenger demand increase by over 18 per cent year-on-year in June, says IATA.

Egypt Invites IMF Officials To Resume Loan Talks

A $3.2 billion loan from the International Monetary Fund will help Egypt handle a balance of payments crisis.

Saudi Leads Rise in M&A Deals

Saudi Arabia led the region’s M&A activity in July with two mega deals, followed by Jordan and Oman.

The Gulf’s Top Five Offices

Gulf Business takes a look at the region’s coolest offices:

OPEC Oil Output Drops In July On Iran

Supply from OPEC members fell by 450,000 barrels per day (bpd) in July to 31.2 million bpd, a survey has found.

Olympics: Saudi Judo Athlete Allowed To Wear Hijab

Wojdan Shaherkani had refused to take part in the judo competition if she was not permitted to wear the hijab.

Arab Bank Posts 10% Rise In H1 Net Profit

The Jordanian bank saw increased profits due to lower provisions and a rise in operational income.

Saudi CEOs Earn Highest Salary

Where is the best place to make your millions in the region? Gulf Business ranks the GCC states in order of highest earning potential.

Egypt’s EFG Hermes Confident Of QInvest Deal By October

The Egyptian Financial Supervisory Authority had rejected the decision, asking EFG to provide additional information.

GCC Shouldn’t Delay Single Currency– Qatar Official

The Gulf countries should learn from the Euro experience but create a monetary union soon, a Qatari central bank official has said.

GCC Not Yet ‘Luxury Tourist Hub’

Luxury retailers in the region need to innovate to attract savvy customers, says a new study by BCG.

Etisalat Posts 17% Rise In Q2 Profit

The UAE- based telecoms company made a net profit of Dhs1.9 billion mainly due to increased international revenues.

Oil Below $104 On Eurozone Fears

Oil fell on worries that Spain may be forced to seek a lifeline from international lenders.

Murdoch Resigns From News Corp Boards

The media mogul has stepped down from some of the company’s subsidiary boards that oversee its British titles.

Qataris Buy Stake In London Developer

The group, with links to the royal family, has bought a 45 per cent stake in Native Land which operates in London’s wealthy Chelsea.

Dubai’s Population To Grow 4%

The emirate’s strong infrastructure investment is fueling growth in the economy, says new report.

Etihad Can Raise Virgin Stake

The Australian government has permitted Etihad to increase its stake in Virgin Australia up to 10 per cent.

Intel Posts 12.5% Fall In Q2 Profit

The technology company posted a year-on-year rise in quarterly revenue to $13.5 billion.

Fuelling Volatility In The Gulf

False hope and economic turbulence are threatening the reliability of the GCC’s oil income.

Syrian Defence Minister Killed

Daoud Rajha was reportedly killed in a bomb explosion during a meeting with ministry and security officials.

Ramadan Food Prices To Be Fixed

The government will ensure shops and supermarkets do not overcharge customers during the Ramadan period.

SABIC Q2 Profit Falls 35%

Saudi Basic Industries Corp saw its quarterly profit drop due to lower prices and production.

Twitter Has 2m Arab Users

Facebook has 45.2 million users in the region while four million Arabs use LinkedIn, says new report.