The loan will act as a bridge financing until the company launches a sukuk issue in 2014.
Construction of the Sharq project will start in 2015 and completion will be by 2021.
The Morrone field is expected to initially produce over 3,000 barrels of oil equivalent per day.
The survey found that low-income earners saved two per cent more than the UAE’s general population.
Dubai’s benchmark index declined 1.6 per cent, paring the surge for the year to 93 per cent.
The Khazzan gas project aims to extract around one billion cubic feet (bcf) per day of gas from deep under central Oman.
GDP growth in the world’s top liquefied natural gas exporter is forecast to ease to 4.6 per cent in 2014.
Hilton’s top-end brand will reach out to tourists and corporates
The lender, which recently bought a 74.2 per cent stake in Turkey’s Alternatifbank, is also open to further foreign acquisitions, says CEO.
UAE’s strong growth in its retail sector is expected to boost the country’s apparel industry.
The bank benefited this year from lower bad loan provisioning and the writing back of existing impairments.
The oil sector contributed about 45 per cent of output growth, thanks to higher crude prices on global markets.
Couples can now get even closer to the wildlife and island’s distinctive environment.
One-month visas can now be booked online priced $55 per person
Foreign companies in Kuwait pay a 15 per cent tax.
The decision has been passed by the EU Council of ministers, but requires final approval from the European Parliament.
The Securities and Commodities Authority has circulated draft rules that treat sukuk and non-Shariah compliant debt separately.
Mall of Qatar’s general manager says the complex will set the standard for malls internationally.
Omar al-Saeed is reportedly the fourth member of the Saudi Civil and Political Rights Association (ACPRA) to be jailed this year.
Tougher penalties and strict law enforcement are needed to stamp out intellectual property fraud in the UAE.
The petrochemical company is a joint venture between oil giant Saudi Aramco and Sumitomo Chemical.
The DFM General Index climbed 1.3 per cent to 3,199.88, the highest since October 2008.
MubasherTrade report forecasts low-to-mid-single digit economic growth rates in the Middle East in 2014.
The 10-storey, 270-unit tower aims to serve professionals working to build the Expo 2020 venue.
The five-year facility was obtained from a group of seven banks, said bankers.
The Az-Zour North Power and Desalination project is Kuwait’s first public-private partnership.
Mahdi Amjad, CEO of real estate company Omniyat says impact of the win was felt “from the first minute the results were announced.”
Over 100,000 Ethiopians repatriated from Saudi Arabia since the Kingdom began deporting illegal migrants in November.
The telecoms firm agreed an $8 billion loan in April to finance its acquisition of a 53 per cent stake in Maroc Telecom.
Oman, Dubai and Abu Dhabi are each investing in building additional cruise terminals.