Development of the Saudi petrochemical sector is part of Riyadh’s strategy for diversifying the economy away from its dependence on crude export revenues.
Etisalat made a net profit of Dhs1.45 billion ($394.77 million) in the three months to December 31.
South Korea’s Daelim Industrial, France’s Technip, Spain’s Tecnicas Reunidas and Taiwan’s CTCI have submitted bids for the two-plant project in Jubail.
Unrealistic pay rises during boom time might prove counterproductive to a company’s growth, expert says.
The developer said it booked sales worth $2.5 billion in 2013 compared with $661 million in the prior year.
Over 11 million guests stayed in the emirate’s hotels and hotel apartments last year with occupancy rates reaching 80 per cent.
The telco said the money will be used for general corporate purposes.
Sarah Al-Suhaimi, currently head of asset management and chief investment officer at Jadwa Investment has reportedly been hired as CEO of National Commercial Bank.
The REIT will invest in between 15 and 35 properties and be managed by Swiss-based B&I Capital AG.
The deals include a $720 million package and agreements with Standard Chartered Bank and DBS Singapore.
Hub designed to promote guest interaction, showcase arts and offer day-and-night F&B
A bomb detonated during a protest in a village west of the capital Manama.
Land prices in areas such as Studio City rose 15 to 20 per cent.
Oman aims to raise gas output to an average of 120 million cubic meters per day (mcm/d) over the five-year period from 2014 through 2018, according to an official.
The Court of First Instance fined Ahmed Yousef Behbehani after a complaint by the Capital Markets Authority (CMA).
The current regulations only allow small shipments, such as parcels sent by online retailers, to be cleared by customs.
The 91 per cent acceptance means Al-Futtaim will hold 533 million shares in CMC, which distributes Ford, Suzuki and Volkswagen vehicles among other brands in the region.
Saudi Arabia is holding thousands of foreign workers who failed to correct irregularities in their work visas before an amnesty expired in November last year.
Revenue for the group, which operates three hospitals and 12 clinics in the UAE, rose 12.5 per cent year-on-year to $365 million in 2013.
The mall will be built in phases with the first phase measuring almost 300,000 square feet.
The airline benefited from a 30 per cent increase in partnership revenues, to $820 million, as its equity alliance stable rose to seven airlines.
Talks between the airlines intensified last month and sources close to the matter said Etihad might be interested in buying a stake of up to 40 per cent in the Italian carrier.
Etihad would have to be convinced that Alitalia could be moved to profitability, the Abu Dhabi airline’s CEO James Hogan told reporters.
The low-cost airline announced full-year 2013 net profit of Dhs222.8 million.
The bank will seek shareholder approval for its sukuk programme at a meeting on March 19 and regulatory approval thereafter, local media reported.
Regulators around the world are increasing their scrutiny of Islamic finance, including the boards of sharia scholars who rule on whether activities follow religious principles.
Shell Oman Marketing Company previously supplied half of Oman Air’s fuel at Muscat airport.
The enterprise solutions provider signed deals with STC and Etisalat at the Mobile World Congress.
Low-cost carrier about to step into the aviation breach following RAK Airways’ closure
KUNA gave no details on the surgery, but said Sheikh Sabah would remain in hospital for “the normal period of recuperation”.