Hasan Abdullah Ismaik’s stake in the construction company is worth about $159 million based on Wednesday’s closing share price.
Construction firm Parsons will develop 300 metres of concrete wharf and new floating pontoons that will accommodate more than 280 boats.
A study finds that Gulf students want better trained teachers and up-to-date teaching methods.
Emirates will be looking to funnel Swedes onto its Asian, Indian and African network.
Alhokair net profit rose nearly 37 per cent year on year in the three months to June 30.
As the Indian rupee continues its free-fall, Gulf Business tracks the best investment options in India for NRIs.
The facility will be arranged by Abu Dhabi Commercial Bank, Emirates NBD and Standard Chartered.
The biggest shopping extravaganza in the Middle East attracted 4.66 million visitors last year.
Airline benefits from equity partner Etihad, international expansion and improved cargo performance
The funds were supposed to be converted into three-year bonds.
The agreement allows the nations to add 50,000 additional seats per week for the next three years.
Private and public sector firms in the Kingdom are increasingly using LinkedIn for recruitment, the company said.
The emirate’s real estate market is being driven by fundamentals rather than speculation, said the bank.
The index fell 3.7 per cent to close at 2,397 points, its lowest finish since July 11.
The popular local brand will begin selling its coffee bags through 340 Jumbo supermarkets in the Netherlands.
The centre aims to reduce the response time in the event of a cyber crisis in the Middle East.
In a quarter-on-quarter comparison, Saudi GDP fell 1.1 per cent in April-June 2013, the first such decline in a year.
Latin beauty firms have found a goldmine export market in Dubai and the Middle East.
Prince Abdullah bin Mosaad bin Abdulaziz Al Saud has promised to invest substantial new capital into the club.
The potential sale may impact up to 280 employees, a source said.
Ziad Awad, a veteran investment banker with nearly 20 years of experience, is setting up Boardroom Metrics Arabia.
The mall operator will use the $1.5 billion facility to replace revolving loans totalling $1 billion.
Bids are now due by Oct. 20, pushed back from Sept. 8, for the multi-billion-dollar project.
The Chinese city’s large industrial development zone is likely to funnel in corporate travellers
Hilton Capital Grand will aim to attract business and leisure travellers in the upcoming peak season
The index, which fell as much as 5.2 per cent is now down 2.6 per cent.
Based in Tecom, the new hotel is expected to open by 2016 and will have around 672 rooms.
The average built asset wealth per person across Qatar, Saudi Arabia and the UAE is $112,842, the study found.
UAE companies saw output growth accelerate to 56.6 points in August, the highest level since February.
Emirates’ resumption is a positive sign but logistical challenges remain