The Kingdom has budgeted to spend a record 820 billion riyals, up 19 per cent from the amount originally planned for 2012.
Oman’s Islamic lenders can hold no more than 40 per cent of their net worth in the form of foreign currency-denominated assets.
The IPO plan is reportedly at an initial stage and it is not clear whether the listing will be in Dubai.
Emirates President Tim Clark highlighted the importance of Dubai as a trading hub at last night’s gala dinner.
A strategic guide for all the development initiatives in the Western Region has been devised under a framework called Al Gharbia 2030.
Sadara Chemical Co will use the returns to fund a $19.3 billion petrochemical complex in the east of the Kingdom.
Commercial Bank of Qatar has hired Morgan Stanley and Bank Of America Merrill Lynch for the issue of a Tier 1 bond.
The government is planning to write off the interest on Kuwaiti citizens’ personal bank loans taken out before March 2008.
Qatar plans to boost government spending by 18 per cent to QR210.6 billion in the 2013/14 fiscal year.
The Abu Dhabi carrier will also open a $6.8 million premium lounge this week in Terminal A at Dulles Airport for first and business class passengers
Oman does not expect to spend more than its budgeted amount this year.
The lender chose Abu Dhabi-based Al Hilal Bank, HSBC, Kuwait’s Liquidity Management House and Standard Chartered.
Three large deliveries from Qatar of super-cooled gas over the last week increased stocks of liquefied natural gas to 6,219 GWh.
Some two million of Yemen’s 25 million citizens work abroad, more than half of them in larger and richer neighbour Saudi Arabia.
Economic growth in Qatar is expected to be more than four per cent this year, driven by the non-hydrocarbon sector.
The SAR1.3 billion issue attracted orders worth SAR2.4 billion from institutional investors inside Saudi Arabia.
GFH Capital is bringing in additional investors to develop the English soccer club.
Despite official safety claims, 43 per cent of the UAE’s residents still say they have never taken part in a fire drill, finds new survey by Honeywell.
The Dubai airline’s long-term strategy “embraces opportunity,” states Emirates president Tim Clark.
Saudi oil minister Ali Al-Naimi said that it “remains to be seen” how much demand will increase.
Gulf Capital owns stake in firms such as healthcare chain Techno Scan and water engineering firm Metito Holdings.
The tandem flight is believed to be the first time two commercial A380s have flown together in formation.
The economy grew 3.4 per cent in full-year 2012, up from 1.9 per cent in 2011.
Emaar’s chief has located Asia as a possible location for a skyscraper to outreach the expected height of Kingdom Tower.
DHCOG posted a net profit of Dhs1.2 billion ($326.71 million) for 2012, compared with profit of Dhs204 million in 2011.
Kuwaiti media said on Sunday that the three were a Pakistani, a Saudi and a stateless man and they would be hanged.
Oman Air said its revenues jumped 21 per cent last year on the back of rising traffic through the country’s main airport.
The order did not state how long telcos would be given to comply with the new regulations.
The issue was three and a half times oversubscribed with more than 160 orders received from regional and international investors.
Dubai’s bourse fell 0.9 per cent to a fresh two-month low of 1,829 points.