Oil Falls Sharply After US Crude Inventories Rise

Brent crude oil prices slipped below $59 a barrel on Thursday.

Gulf Carriers Hit Back At Delta CEO’s 9/11 Comments

Emirates’ Tim Clark, Qatar Airways Akbar Al Baker and US-UAE Business Council President Danny Sebright are among those who responded to the comments.

Stock News: Saudi Arabia Down, Egypt Firms As Oil Slides

Brent oil traded below $59 per barrel as U.S. crude inventories were expected to hit record highs.

Orascom Construction To Raise Up To $241m In Egypt Share Offer

The company plans to offer up to 15.8 million new shares representing 15 per cent of its ordinary share capital.

Flights Resume At Istanbul’s Airport After 3-Hour Suspension Due To Snow

All flights had been suspended at Ataturk Airport and Turkish Airlines said it cancelled 200 flights scheduled for Wednesday and Thursday.

Malaysia’s MSM Scraps Pact With Dubai’s Al Khaleej To Build Sugar Refinery

Due to the fact that the project is of “national interest”, MSM decided to build it without a partnership, it said.

LinkedIn Launches In Arabic, Hopes to Increase MENA Presence

The professional networking site has over 14 million users in the MENA region at present.

Libya Airport, Airline Says Egypt Closes Airspace

The website of Tobruk airport, in eastern Libya, said all flights between Egypt and Libya had stopped.

Deposed Egyptian President Mursi To Face Military Court

Mursi, who has been incarcerated in an Egyptian jail, is facing trial in several cases in civilian courts.

Oil Rises To $62, Close To 2015 High

Brent has jumped by almost 40 per cent in the last four weeks, supported by a sharp fall in U.S. oil drilling.

Egypt’s Sisi Urges UN Mandate For Libya Coalition

Egypt’s jets bombed ISIL targets in Libya after the group beheaded 21 Coptic Christians earlier this week.

IEA’s Birol Says Middle East Militancy Poses “Major Challenge” For Oil

Security challenges created by groups such as ISIL are impacting oil investments, which will affect future production, an expert said.

UK Businessman Takes Emirates To Court Over Lost Luggage

Abrar Khan claimed the airline refused to compensate him after losing his luggage en-route to Dubai.

GCC Sees Construction Projects Worth $67.6bn Completed In 2014

Around 42 per cent of the completed projects were residential buildings while 16.9 per cent were commercial buildings, a new study shows.

Etisalat’s Egypt Unit Signs $120m Loan

HSBC and National Bank of Abu Dhabi, will each provide $60 million each to Etisalat Misr.

UAE Calls Egyptian Hostage Killings By ISIL “An Ugly Crime”

The UAE’s president and other leaders condemned the killings and affirmed their support to Egypt in rooting out such radical groups.

Orascom Construction To List On Nasdaq Dubai, Egyptian Exchange

The listing followed a demerger of OCI NV’s engineering and construction business from its fertilizer and chemicals business.

Emirates Introducing A380 On Milan-New York Route

The service will begin from June 1, and raise superjumbo capacity between Dubai and Milan.

Egypt Says It Bombed ISIL Targets In Libya

The attack focused on ISIL camps, training sites and weapons storage areas in Libya, where Islamist militants have thrived amid chaos.

Dubai’s MAF To Open Canadian Brand Lululemon Stores In ME

The first lululemon athletica store is slated to open in Dubai later this year.

Sisi Warns Of Response After ISIL Kills 21 Egyptians In Libya

The president said Cairo would choose the “necessary means and timing to avenge the criminal killings”.

ISIL Releases Video Purporting To Show Killing Of 21 Egyptians In Libya

The Egyptians, dressed in orange jump suits, were beheaded after being forced down on the ground.

Egypt Lines Up $6.8bn Of Kuwaiti Investment For Energy Projects

Prime Minister Ibrahim Mahlab signed MoUs with Kuwaiti companies involving projects due to start in three to five years.

Different Arab money

Gulf States Continue Dialogue On Value-Added Tax – UAE Official

The GCC states have been mulling the introduction of VAT since 2007 to broaden their revenue base.

Egyptian Court Puts Ousted President Mursi On Trial Over Qatar Link

Ex-Islamist president Mohamed Mursi is charged of endangering national security by leaking state secrets and sensitive documents to Qatar.

Alghanim Industries Signs Deal To Expand Wendy’s In The Middle East

Kuwait’s Alghanim has acquired all operational outlets of Wendy’s in the UAE with plans to open additional stores in the MENA region over the next 10 years.

Jordan Jails Senior Muslim Brotherhood Leader For Criticising UAE

Rushaid, the deputy head of the Muslim Brotherhood in Jordan, had criticised the UAE for designating the pan-Islamic movement as a terrorist group.

Gulf States Urge U.N. To Enforce Resolution In Yemen

GCC members urged the Council to pass a resolution, which authorises the use of military force or economic sanctions to enforce Council resolutions.

UAE Looks East, Eyes Larger Trade With China

The UAE looks to grab a larger share of trade with China, outwitting its Gulf peers.

Egypt Court Releases Two Al Jazeera Journalists But Case Not Dismissed

Fahmy, who is a naturalised Canadian citizen, was released on bail of $32,765 while Mohamed was released without bail.