The 2015 budget is around 23.44 per cent larger than the previous year, a senior official said in a statement.
Dubai’s index fell 0.7 per cent after jumping 2.6 percent on Sunday.
Etihad Airways diverted 15 inbound flights to five other airports in the region including Dubai World Central and Muscat.
For the 2015 budget, announced on Thursday, four analysts’ oil price estimates are in a range of $55 to $63.
Rescue aircraft searching for the plane, missing for more than 12 hours, have returned to base, officials said.
The CEO of one of the world’s largest and oldest private banks gives his insight into the evolving world of wealth management, potential acquisition targets, and his plans for the Middle East.
Conspiracy theories are neither necessary nor helpful in trying to understand recent events in the oil market, writes Reuters columnist John Kemp.
Oil, gas and petrochemicals is the most favoured industry in the region, writes Suhail Masri, VP of Sales at Bayt.com.
Nilesh Ashar, partner and head of Tax for KPMG in the UAE, analyses the impact of investment regulations and tax laws on foreign businesses foraying into the Middle East.
The Observatory, which monitors Syria’s war with a network of sources, said the pilot was believed to have an Arab nationality.
Saudi Oil Minister Ali al-Naimi insisted that oil prices would improve, although it was unclear when.
The move will boost the GCC’s tourism industry, helping sectors such as aviation and hospitality.
OPEC producers sought to bring balance to the market but a lack of cooperation from other producers led to a continued fall in prices, Naimi said.
Ghaith Al Ghaith describes how flydubai became the Middle East’s largest short-haul airline in just five years.
The accident, which took place earlier this month, killed 25 Egyptian fishermen.
John Sexton, the president of one the world’s top universities, explains why he decided to expand to Abu Dhabi.
Radicalisation of Muslims in the Kingdom has led to domestic attacks and the involvement of Saudis in jihadist movements.
A UN official said that Iraq has requested a one-year deferral of a $4.6 billion reparations payment for destroying Kuwait’s oil facilities during the Gulf War.
The plan outlines the emirate’s development framework over the next seven years.
The official said that the Gulf state has not established an independent commission to monitor human rights across its construction sites.
Oil futures have almost halved since June amid rising output and cooling demand.
The Dubai equities benchmark tumbled 7.7 per cent to 3,068 points, a one-year low.
The Arabic language news channel, based in Bahrain, was initially slated to begin airing in end-2012.
Facilities that have been shut down include a day-care surgery centre, a plastic surgery clinic, an aesthetics clinic and a dermatology clinic.
Analysts fear that any power struggle after the sultan’s death within his Al-Said family – or between the royal family and army leaders – could rattle the country.
The mid-morning hostage-taking brought much of Sydney’s CBD to a standstill and saw the local currency fall.
UAE minister of energy ruled out a cut in OPEC’s production or an emergency meeting soon to stabilise the falling oil prices.
OPEC Secretary-General said that Gulf countries should continue to invest in oil exploration despite the decline in oil prices.
Despite the oil slump, the country’s wider economy is likely to be shielded by its fiscal strength, officials said.
ahrain became the first Middle East country to host a grand prix in 2004 and Abu Dhabi followed in 2009.