The funds from the KIngdom were given in the form of a five-year interest-free deposit at Egypt’s central bank.
Gulf Arab oil producers have promised aid packages worth $12 billion to Egypt since the overthrow of president Mohamed Mursi.
Sooner or later OPEC members will have to reduce output to reflect their reduced share of the global oil market.
Sepp Blatter has said he will propose moving the dates of the tournament to winter, in a bid to avoid Qatar’s summer heat.
Witnesses said several vehicles were destroyed in the explosion but there were no reports of injuries.
Cases of MERS have been found in Saudi Arabia, Jordan, Qatar, the United Arab Emirates, Tunisia, Britain, France, Italy and Germany.
The UAE capital recorded the highest number of sales across the maker’s markets in the first half of 2013.
Work is underway on 700,000sqm facility which will be supported by dedicated road feeder services to Dubai International.
The armed forces chief, Abdel Fattah al-Sisi, was given the post of first deputy to interim Prime Minister Hazem el-Beblawi.
High prices on Europe-destined sour crude coupled with weak demand for sour crude in Asia has opened a price gap over the last month.
The new entity would have total assets worth 4.13 billion rials and a market capitalisation of around $1.76 billion.
Qatar-based Al Jazeera reached agreement with TV sports rights firm MP & Silva for access to all 380 Premier League matches in 23 countries.
The Dubai American Scientific School had been rated as ‘unacceptable’ by the KHDA since the 2008-2009 educational year.
Dubai’s aviation sector is expected to account for 32 per cent of GDP by 2020, while the sector employs over five per cent of the workforce.
The tiny Gulf state also plans to buy 16 tank howitzers from equipment makers Krauss-Maffei Wegmann and Rheinmetall.
Sources have said that a deal for Saudi Arabia to buy M1 Abrams tanks from General Dynamics was already in sight.
Saudi Arabia and the UAE have offered Egypt $8 billion in grants and loans, while Kuwait has pledged a further $4 billion.
The study will please health specialists who champion regular exercise to counteract the country’s high levels of obesity and diabetes.
Industry analysts IDC and Gartner reported that Lenovo reached 16.7 per cent global PC marketshare in Q2 2013.
As the UK eagerly awaits William and Kate’s royal baby, Gulf Business peeks into the gift baskets of other high-profile celebrity babies.
The UAE will make a $1 billion grant to Egypt and a $2 billion loan.
The factory, located in Yanbu, is being developed by a joint venture of Kuwait’s Alghanim and Saint-Gobain.
President Mohamed Mursi’s Muslim Brotherhood is urging Egyptians to rise up against the army.
As political uncertainty rises in the Middle East, PE firms are increasingly considering SMEs as a viable investment option.
The UAE pledged $3 billion in aid for Egypt in 2011 that has yet to be delivered.
Dubai World’s investment arm Istithmar bought the vessel from Cunard for $100 million back in 2007.
A presidential spokesman has told reporters that Mohamed ElBaradei had not in fact been chosen as prime minister.
Saudi’s King Abdullah and the UAE government have sent congratulations to Adli Mansour, who had been appointed as interim head of state.
Ahmad al-Sayed has replaced former Qatari PM Sheikh Hamad bin Jassim al-Thani as CEO at Qatar Investment Authority.
The Saudi government has given a four-month extension to an amnesty for foreign workers with visa violations