Saudi billionaire Prince Alwaleed, Forbes settle libel case

The Prince and Forbes have been embroiled in a dispute ever since the magazine’s annual billionaires list was published in 2013

Reem Island accused’s lawyer calls non-muslim witness accounts ‘invalid’

Alaa Bader Al Hashemi is charged with the murder of American schoolteacher Ibolya Ryan and for planting explosives at the doorstep of another resident

Egypt court sentences Mursi, Brotherhood leaders to death

The court last month sought the death penalty for Mursi after he was convicted of killing and kidnapping policemen

Bahrain opposition leader sentenced to 4 years in jail

Sheikh Ali Salman has been convicted on charges of creating unrest against the ruling system, his party said.

Etihad starts daily flights to Hong Kong

The new service will offer a total of 3,620 seats per week between Hong Kong and Abu Dhabi

Flydubai launches daily direct flights to Faisalabad in Pakistan

The budget carrier said that it will be increasing frequency on a number of routes and doubling the size of its network in Pakistan

UAE’s Gulf Finance Corp to raise up to Dhs 600m syndicated loan

Gulf Finance, part of Dubai’s Shuaa Capital, provides finance to small and mid-sized firms in the UAE.

Qatar agrees to buy four more C-17s – Boeing

Financial details of the sale and the timing of the accord were not disclosed.

Qatar’s secretive sovereign fund to restructure, say sources

The restructuring comes as the drop in oil prices crimped available funds as competition for assets grows

Amnesty calls for release of Bahrain opposition leader

Sheikh Ali Salman, head of the opposition al Wefaq Islamic Society, was arrested in December

Top tips when hiring new recruits in the UAE

New survey finds one in 10 recruits are regarded as a ‘poor hiring decision’ by HR directors

Qatar Airways places $4.8bn order for 10 Boeing 777-8Xs, four 777 freighters

The orders were placed on the first day of the Paris Airshow

Saudi bourse CEO sees flurry of foreign investor licenses soon

Saudi’s market regulator has said foreign institutions can buy stocks directly from June 15, but it has not so far announced the award of any licences

Dragon Oil agrees to ENOC’s increased takeover bid

Dubai-based ENOC’s offer values Dragon Oil at around $5.75bn

Saudi Arabian Airlines purchases 50 Airbus aircraft

The company did not disclose the value of the deal but other media reports valued it at $8.2 billion.

Sheikh Mohammed forms Dubai Creative Clusters Authority to oversee freezones

The authority was previously called Dubai Technology and Media Free Zone Authority.

UAE’s NMC Health seals latest buy with $160.6m ProVita deal

NMC will acquire 100 per cent of ProVita for cash from TVM Capital Healthcare Partners, Saudi Arabia’s Olayan Group, Al Zarooni Emirates Investment and other minority shareholders

UAE oil minister says studying fuel subsidies, report ready soon

Suhail bin Mohammed al-Mazroui said that the government had requested a report after there were questions over why domestic fuel prices didn’t drop after global oil prices fell

Saudi opening may be non-event with no licences awarded yet

Saudi Arabia’s Capital Market Authority has indicated it does not want or expect large, sudden fund inflows

Limitless awards Dhs 285m deal for downtown Jebel Ali project

The deal was awarded to UAE-based Arco General Contracting for carrying out community infrastructure work on the project

Alwaleed says will back Twitter interim CEO Dorsey for permanent post

Prince Alwaleed was earlier reported as saying that Jack Dorsey should not be given the job permanently since he has other work commitments

Airbus in talks to sell up to 50 planes to Saudi Arabian Airlines

The deal could include 30 A320neo planes and up to 20 A330 aircraft, sources said

Etihad Airways eyes $1bn through debut bond issue

The Abu Dhabi airline is planning to launch its bond through a unit or special purpose vehicle

UAE Banks Federation approves mobile wallet programme

The programme needs to have a final approval from the UAE Central Bank before it goes live, the federation said

Bahrain jails 57 for plotting bomb attacks

The accused were charged with plans to bomb various sites across Bahrain and for receiving training to carry out such acts from a foreign country

Abu Dhabi’s new financial freezone starts accepting licence applications

Abu Dhabi Global Market is preparing for its launch in the second half of 2015

Saudi Arabia to reconsider applying Nitaqat system in select sectors

The government said that it will rethink quotas in some sectors which failed to attract citizens due to the nature of work involved

Open skies with GCC crucial for US economy – senior Boeing official

Three US carriers are calling for an end to the US’ open skies agreement with the UAE and Qatar over a subsidies row

Egypt says New Suez Canal to open Aug 6, eyes economic boost

The army began work 10 months ago on the $8 billion canal in order to expand trade along the fastest shipping route between Europe and Asia.

US sends six Yemeni prisoners from Guantanamo to Oman for resettlement

The six men sent to Oman were identified as low-risk detainees cleared years ago for transfer.