Burj Khalifa[2] dubai

Dubai confirms dry night this weekend

All licensed venues in the emirate will have to refrain from serving alcohol during the period to mark Arafat Day

More regulatory oversight needed in the UAE’s capital markets – Daman Investments chairman

The UAE capital markets have suffered “major blows to their corporate governance framework” over the past two years

Emaar Q2 profit falls 7.4% as Dubai property market cools

The emirate’s residential real estate market is down by at least a quarter since the middle of 2014

UAE President orders release of 669 prisoners for Eid Al Adha

Sheikh Khalifa has also pledged to settle the financial obligations of the released prisoners

Over 296 million use public transport in Dubai in the first half of the year

Dubai Metro accounted for the highest number of users at 101.68 million

Saudi Arabia announces sweeping new reforms for women

Women over the age of 21 no longer need permission from their male guardian to travel

Saudi energy minister says he discussed oil markets with Russian counterpart

Saudi Arabia would continue to comply with production cuts until the end of Q1 2020, he said

Eid Al Adha to begin on August 11, four-day holiday in the UAE

Workers in the public and private sectors in the UAE will have the same number of days off

Dubai retail group GMG says its outlets saw double-digit growth during DSS

The company’s retail outlets include brands such as Nike, Sun & Sand Sports, and Supercare Pharmacy

MENA fund managers to boost UAE investments, bearish on Saudi

Dubai was one of the worst-performing markets globally last year, but has rebounded with its benchmark index up almost 15 per cent so far

Omani driver jailed for Dubai bus crash released on bail

The driver was sentenced to seven years in jail and ordered to pay Dhs3.4m in blood money for causing the wrongful death of 17 passengers

Flydubai to launch daily flights to Krabi via Yangon later this year

The new daily service will begin in December and is being codeshared with Emirates

Saudi’s Taif season tourism festival creates 15,000 jobs, say organisers

The 30-day festival runs throughout August and features more than 70 events

Muslims in Saudi urged to report moon-sighting on Thursday

The crescent moon will mark the start of the Islamic month of Dhu Al Hijjah

Abu Dhabi to grant licences to companies for renting out electric scooters

The service will be available in the pedestrian and bicycle paths in Corniche and Khalifa Street during the first phase

Oman’s National Gas Company terminates CEO

Oman says on track to implement VAT

No date was given for the implementation of the new tax

Dubai lender Emirates NBD to support Denizbank if capital increase needed

Emirates NBD now owns 99.85 per cent of the Turkish lender

Different Arab money

Saudi, UAE, Bahrain cut interest rates after Fed

The Federal Reserve lowered US interest rates for the first time in over a decade

Saudi Binladin group seeks adviser for jumbo debt restructuring – sources

The move is the latest in state efforts to restructure the construction giant

Eight injured after fire breaks out in residential building in the UAE

The blaze broke out in a five-storey building in Ajman on Wednesday

Dubai’s DP World slams Djibouti’s plan to disregard international adjudications

The case has seen five rulings by London courts over the last three years

Iraq, Kuwait to appoint British firm for joint oilfield development study

There are several oilfields in the border area between Iraq and Kuwait, most prominently Ratqa

Selling cigarettes without digital tax stamps in the UAE prohibited from August 1

The scheme seeks to electronically track cigarettes packs from the production facility and until they reach the end-consumer

Dubai’s DIFC Courts announces changes to will registration rules

Will registrations will now cover investor assets across the UAE and outside the country

Saudi’s biggest bank NCB posts 24% rise in Q2 profit

The bank reported a net profit of SAR2.69bn in the quarter ended June 30

Saudi Arabia deposits $250m into Sudan’s central bank

The financial grant is part of a package with the UAE worth $500m announced in April

Singapore’s sovereign wealth fund to invest $600m in ADNOC’s crude pipelines

The deal will take the combined lease-based investment of GIC, ADRPBF, KKR and BlackRock in the ADNOC’s pipeline infrastructure to $4.9bn

UAE increases petrol prices for August

Fuel prices in the country were cut by 10 per cent in July

List of business service fees cancelled by UAE’s ministry of Economy revealed

Earlier this month, the ministry announced it had waived or reduced the fees for over 100 services

Dubai’s DIFC adds 250 companies, 660 new jobs in first half of the year

The total number of active registered firms in the centre now stands at 2,289