Global economy not at risk of recession despite China weakness

Goldman Sachs reduced its short-term outlook for the equity market to “neutral”, but remained “overweight” over six and 12 months

Developer Omniyat launches Dhs 1bn luxury hotel in Dubai

The Langham Place Downtown Dubai, featuring a five-star hotel and serviced apartments, is expected to be completed in 2018

Saudi Arabia records 49 MERS cases in one week

Riyadh saw 47 MERS cases over the last week while the cities of Najran and Abha recorded one infection each during this period

Oil falls 4% as Chinese stock markets crash

Brent oil touched an intraday low of $43.28, its weakest since March 2009

UAE among top 5 ‘at risk’ countries for mobile security

The Emirates ranked at the bottom of a list of countries that have high levels of mobile security, a new survey showed

UAE Exchange names new CEO, makes changes to board

Deputy chief executive Promoth Manghat has been promoted to chief executive, the Abu Dhabi-based company said

Bahrain says holding former MP on charges of financing militants

The agency did not name the man but quoted the director of criminal investigations as saying he was held after returning from a trip to collect funds in Iran

Dubai stock index rebounds into positive territory

Real estate shares led the recovery with leading developer Emaar Properties gaining 1.8 per cent and DAMAC Properties rising 3.3 per cent

Over half of Dubai residents don’t have home insurance – survey

Up to 67 per cent of apartment buildings and 50 per cent of villas in Dubai are uninsured, says survey by MoveSouq.com and RSA

Dubai’s Nshama awards construction contract for Town Square projects

The contract for the Zahra and Hayat Townhouse communities in Town Square has been awarded to Beaver Gulf Group

Dubai to have 27 new private schools by September 2016

Increased supply is expected to ease the financial burden of high school fees on parents and provide them with more choices, officials said

Dubai contractor Drake and Scull appoints Deeb as CFO

Deeb was formally CFO of Abu Dhabi-based family conglomerate Al Jaber Group, whose core business is construction

Iran says an OPEC emergency meeting may stop oil price slide

U.S. oil prices fell below $40 a barrel on Friday for the first time since the 2009 financial crisis, pressured by signs of oversupply in the United States and weak Chinese manufacturing data

Middle East firms’ business confidence falls in Q2 2015

Nearly 43 per cent of regional companies polled said that they were looking for opportunities in other markets, a new survey shows

Mood sours among Saudi businessmen as oil slides

Oil has dropped to six-year lows, less than half mid-2014 levels

Saudi Aramco considers new industrial city project in east

The new city will be built around energy-related industries, a source said

Dubai stock market suffers biggest one-day fall since December 2014

Dubai’s stocks closed down 7 per cent as oil prices weakened

Britain reopens ransacked embassy in Tehran

Britain had operated without an embassy since Iranian protesters stormed its two main diplomatic compounds in Tehran on Nov. 29, 2011

UAE Armed Forces rescue British hostage in Yemen

The hostage Douglas Robert Semple, a 64-year old petroleum engineer, was working in the Hadramaut area when he was kidnapped

Introduction of VAT in UAE unlikely to deter foreign investors – analyst

The UAE is currently in the process of drafting out laws for the implementation of value added tax

Emirates and Etihad among the world’s top 10 safest airlines

Hong Kong’s Cathay Pacific tops the list, as compiled by the Jet Airliner Crash Data Evaluation Centre

Kuwait’s Shuaiba oil refinery resumes operation

The fire at the heavy oil cracking unit at Kuwait’s 200,000 barrel-per-day Shuaiba refinery broke out last Monday

Dubai continues push to become global design hub by 2020

The recently developed Dubai Creative Clusters Authority is investing heavily in the design sector

UAE stocks sink on oil’s slide, Saudi worries

The main stock index in Dubai, the region’s most volatile market, tumbled 4.0 per cent to 3,563 points, hitting a four-month low

Arab Bank says report of $1bn settlement is ‘inaccurate’

Citing an unnamed source, the trade magazine The American Lawyer reported that Arab Bank had agreed to pay “slightly more than $1bn” to settle litigation

RTA inks deals with seven Dubai schools to provide transport services

The deal will see RTA’s unit Dubai Taxi Corporation’s buses transport 2,500 students from these schools during the new academic year

Egyptian Brotherhood leader handed sixth life prison sentence

Mohamed Badie and several other prominent Islamists were sentenced to life in prison on Saturday for murder and inciting violence

Dozens killed in Saudi-led air strikes in Yemen-aid group, Houthis

A health ministry spokesman, Tamim Al Shami, confirmed at least 65 dead and 50 wounded as a result of the air strikes

Two pilots killed when helicopter comes down on Saudi-Yemen border-coalition

The coalition said it was investigating the cause of the crash, which took place in Saudi Arabia’s border province of Jizan

Fitch revises Saudi Arabia’s outlook to negative

Fitch said on Friday it expects the general government deficit to widen to 14.4 per cent of GDP in 2015