The lenders – Abu Dhabi Commercial Bank and Abu Dhabi Islamic Bank – are now the frontrunners to acquire the business.
The number of firms operating under DSOA grew to reach 929, the company said.
The Islamic investment firm’s unit is in the process of selling a majority stake in English soccer club Leeds United.
The sector contributed around Dhs117.4 billion- 8.4 per cent- to the UAE’s GDP in 2013.
The projects will be in transport, energy and other sectors, the central bank governor said.
Microsoft announced that its new gaming console will be made available in 26 additional countries.
The contractor, in which Abu Dhabi state fund Aabar is a key stakeholder, said it made a net profit of Dhs122 million in Q4.
PepsiCo SSFL will supply its premium salty snack in all BinHendi food and beverage outlets across the UAE.
The loan, which refinances an existing $1.1 billion facility, attracted commitments from lenders worth more than $5 billion.
Mumtalakat had $7.1 billion of assets under management at the end of September and holds stake in 40 firms in Bahrain’s non-oil sector.
Britain’s Daily Telegraph newspaper reported on Tuesday that a company under the control of Mohamed Bin Hammam paid $1.2 million to Jack Warner.
Around 90 per cent of the GCC’s high net worth individuals are more focused on wealth generation than preservation.
The 302-room resort, a member of Preferred Hotels & Resorts, combines Arabian and Andalusian themes
Located in the upcoming Opera District, the multi-format venue will host operas, concerts, art exhibitions, film and sports events.
Saudi, the UAE and Bahrain recalled their ambassadors from Qatar on March 5, citing policy differences.
Low-cost carrier’s move sees capacity stack up between Dubai and Moscow
Dubai’s largest listed property developer has said it would list 25 per cent of its shopping malls and retail unit.
Bueno replaces Michel Accad who resigned in October last year.
New documents reportedly claim former FIFA executive Jack Warner received $1.2 million from a Qatari company in December 2010.
Two search and rescue aircraft from the UAE’s Armed Forces will join the search for MH370, which vanished on March 8 with 239 people on board.
Situated in an upscale hotel district in Guangzhou, the project is scheduled to open in 2015.
The company said previous preparations for an IPO had been put on hold because of the political climate.
The development features two towers and includes 300 residential units.
Prior to joining Coutts, Dugan was CIO of Dubai’s Emirates NBD.
Emaar’s strong reputation with investors for delivering projects, plus the fact it has collected healthy deposits on the off-plan developments, meant it was very cash-rich.
Refineries across Asia typically shut for maintenance in the second quarter, reducing crude demand.
Under the contract, Al Futtaim Carillion will carry out the first phase delivery of the Dubai Trade Centre District project.
Pakistan’s central bank stated the prospective buyer had not met its standards for suitability.
The acquisition of General Lighting Company will create a new joint venture, Philips Lighting Saudi Arabia.
VOX plans to open five new cinemas in addition to its existing project pipeline.