The UAE-based contracting services company shares deal to construct pipelines in southeast Iraq with Italy’s SICIM.
The IMF also cut its forecast for Saudi’s budget surplus this year from 16.5 per cent to 12 per cent, citing oil price movements.
Prices dropped amid signs that Saudi Arabia is pumping at high rates to dampen prices.
William C. Keliehor aids financial development in Iraq, a country where only 15 per cent of the population has a bank account.
The airport’s cargo capacity is set to increase to 3.1 million tonnes by 2018.
Saudi Arabia’s Oil Minister Ali al-Naimi said earlier this month that the Kingdom was prepared to meet any additional demand for oil.
Saudi Ground Services has hired the bank to advise as it plans to list 30 per cent of its shares.
Orascom Construction Industries, Egypt’s biggest listed company, feels weight of new plants in Algeria and the US.
Saudi Arabia came second, followed by the UAE in the World Economic Forum’s annual ranking.
Monthly traffic surpassed five million passengers for the first time.
The tech giant has hinted that it will launch its latest phone at an event on September 12 in San Francisco.
The Dubai-based airline also supports over 72,000 jobs in India through its operations, says study.
As the notoriously private wealth vehicles gain increased visibility, especially with their emerging markets investment push, Gulf Business lists the top 10 SWFs in the world.
Gulf Air CEO, Samer Majali, says a consultative leadership style is the best way to energize and motivate employees.
The multi-billion dollar Khalifa Port can handle 12 million tons of general cargo annually in the first phase.
With entrepreneurship in the region witnessing an unprecedented boom, funding options are also on the rise.
The Dubai-based port operator made a profit of $247 million in the first half of the year.
Finance ministers of the G7 nations said that the West was ready to tap oil reserves to offset rising prices.
The rumour mill is going into frenzy as the much anticipated launch date of the iPhone 5 nears.
Mohamed Mursi confirms there will be no new taxes and will look to investment to fix the country’s economy.
A virus infected about 30,000 of the oil producer’s workstations in mid-August, forcing the company to cut off external communications.
Jordan’s largest lender has elected Sabih al-Masri to head the bank after the sudden resignation of Abdel Hamid Shoman.
The county is estimated to post a GDP growth rate of six per cent in 2012, according to a study by Kuwait Finance House.
The Toyota 86 is the Japanese manufacturer’s attempt at recreating an authentic rear-wheel-drive sports car with exceptionally balanced performance and handling.
The region’s banks witnessed a moderate recovery last year with continued overall gains expected for 2012.
Banks are slowly recovering from the 2008 fall out but the impact of a major government spending spree is yet to be fully realised.
Higher capitalisation and new profits in the UAE are threatened by the Eurozone and weak global growth.
Strong government regulation and hefty public spending have buoyed the Kingdom’s banking sector.
Massive public spending and impressive GDP growth saw a bumper year for Qatar’s banking sector.
Increased consumer lending and new banks will put the country on a solid footing this year.