Al Jazeera Journalist Under Trial In Egypt Sues Employer For Negligence

Mohamed Fahmy spent more than 400 days in an Egyptian jail on charges of aiding a terrorist organisation.

Saudi Market Regulator Studying REIT Listing Rules

If introduced in the Kingdom, REITs would offer tax benefits, especially for foreign investors.

Saudi King Salman Phoned Obama, Discussed Summit, Yemen

King Salman has nominated Crown Prince Mohammed bin Nayef to attend the summit in Washington and Camp David, Maryland.

OPEC Expects Oil Prices To Be About $76 A Barrel In 2025

Oil slipped towards $65 a barrel on Monday as signs that U.S. shale oil production was recovering.

New Dubai Expo 2020 Logo To Be Unveiled On October 20

The new logo design will be selected from 18,000 entries received during a public competition.

Moroccan F-16 Jet From Saudi-Led Coalition Crashes In Yemen

Yemen’s Houthi militia said tribesmen shot down the aircraft.

Dubai Properties Launches Arabella Townhouses In Mudon Project

Sales of the three and four bedroom townhouses will begin on May 16.

Oman Plans Private Placement For Debut OMR200m Sukuk

The committee arranging the issue said it had received in-principle regulatory approval and was now in advanced stages of structuring and documentation.

Saudi, Kuwait To Shut Joint Oilfield For Two Weeks

Total production from the Wafra onshore oilfield is around 190,000 barrels per day.

UAE Announces Holiday For Isra’a Wal Miraj On May 16

Private sector employees who have a holiday on Saturday will not be given a compensatory day-off.

Heavy Bombing On Yemen Border Area By Saudi Forces And Houthis

Saudi Arabia has offered a five-day ceasefire starting on Tuesday evening to allow delivery of humanitarian supplies into the country.

Saudi’s Alkhabeer Capital Targets Islamic Endowment Business

The firm has launched an advisory service for structuring and managing the assets of the Islamic charitable foundations known as awqaf.

Dubai’s DP World Expected To Issue $500m Five-Year Bond

Barclays, Citigroup, Deutsche Bank, Emirates NBD Capital, HSBC, National Bank of Abu Dhabi and Societe Generale are arrangers for the bond issue.

China Overtakes US To Become World’s Top Crude Oil Buyer

China’s crude oil imports hit a record of almost 7.4 million barrels a day last month.

Moroccan F-16 jet From Saudi-Led Coalition In Yemen Goes Missing

The pilot of a second jet in the same squadron could not see if the pilot had ejected from the jet.

UAE Passport Moves Up In Global Index Ranking After EU Visa Waiver

UAE nationals can now travel to 104 countries, pushing the country’s ranking on Arton Capital’s Passport Index to 31.

National Bank Of Oman Says Plans Tier 1, Tier 2 Instruments

The bank’s board has approved the issuance of a Tier 2 instrument worth up to $900 million and a $300 million Tier 1 capital increase.

Owner Of Oman’s Largest Power Plant Begins $146m Flotation

Subscription for the initial public offering, which is open to both local and international investors, will run until June 8.

Saudi King Sending Crown Prince To Summit With US President Obama

The summit coincides with the start of a five-day humanitarian truce in Yemen.

Sales At Kingdom Tower, Set To Be World’s New Tallest Building, To Start In 2015

Once completed in 2018, the $1.2 billion Kingdom Tower will be over one kilometre high.

Oman Oil Co To Restructure, Privatise Some Units

With the new structure, the company said it will be focusing more on Duqm and managing its international assets.

Top Egypt Medical Firm Sees London IPO 11 Times Oversubscribed

Integrated Diagnostics Holdings priced its offering of 65.2 million shares at an $4.45 per ordinary share.

UAE’s Air Arabia Q1 Net Profit Up 9%, Misses Estimates

The airline carried 1.8 million passengers in the first quarter of 2015, up 10 per cent year-on-year.

Bahrain’s Al Baraka Q1 Net Attributable Profit Rises 9%

The bank made a net profit attributable to equity holders of $40 million in the three months ending March 31.

Different Arab money

With Oil Prices Low, GCC States Agree To Push Value-Added Tax Plan

However, officials did not give any time frame for VAT to be introduced or specify the likely tax rate.

Etihad Flight From Cairo To Abu Dhabi Diverted To Dubai For Security Reasons

Flight EY650, an Airbus A321, was carrying 128 passengers and seven crew from Cairo to Abu Dhabi.

Dubai Parks And Resorts Says 42% Of Project Infrastructure Completed

The theme park operator also said that it spent almost Dhs3 billion on the project in Q1 2015.

Abu Dhabi’s Aldar Launches Plots For Sale At Nareel Island

The Nareel development, designed for Emiratis, consists of two islands comprising 148 villa plots.

CEO of Saudi’s Al Rajhi Bank Resigns, New Head Appointed

Steve Bertamini has been appointed chief executive effective from May 18, the lender said in a bourse statement.

Dubai Metro Red Line Construction To Begin By Q1 2016

The contract for the project will be awarded on January 28, 2016, a senior RTA official said.