The Dubai property developer announced that net profit for the first quarter of the year dropped 72.7 per cent to Dhs22 million.
Abu Dhabi shelled out close to $1 billion on Manchester City’s Barclays Premier League title, writes Neil Churchill
A joint venture between US-based Paladin Capital Group and Invest AD plans to launch a $100 million MENA fund.
Chinese firm Chinamex is building a multi-million-dinar Chinese-themed retail shopping mall in Manama.
Aabar said that it had only raised its stake in Arabtec to 20.7 per cent and not 53 per cent as previously reported.
The Dhs150 million project will replace the existing zoo and will also include a butterfly park and golf courses.
The IMF questions Kuwait’s fiscal stimulus and warns of the sustainability of public finances.
Abu Dhabi Islamic Bank reported that revenues rose 7.3 per cent to reach Dhs874.8 million during the period.
The Dubai investment conglomerate recorded a revenue drop of three per cent during the period.
The airport is increasing passenger capacity from 250,000 to two million in the next 12 to 18 months.
Average food and beverage prices rose sharply during the period, according to official statistics.
Saudi’s GACA says new international airline licences will be operational by April next year.
The Kingdom’s oil minister Ali al-Naimi said that an oil price of $100 per barrel would be “great.”
Qatar Investment Authority has reportedly acquired between three to five per cent of oil major Royal Dutch Shell.
Qatar has reportedly mandated five banks to help arrange a new sovereign Islamic bond.
The Emirates’ inflight magazine will produce its June issue from the world’s highest office, at Burj Khalifa.
The emirate is planning a massive advertising campaign in New York’s Times Square to attract more US visitors.
The airline said that despite an increase in revenue, its profit was hit by rising fuel costs and unrest in the region.
The telecoms operator posted a net profit of Dhs333.1 million during the first quarter of the year.
The Bahraini lender’s net profit rose seven per cent during the first quarter of the year to reach $57.4 million.
Prince Alwaleed’s upcoming news channel, Al Arab will also be headquartered in Manama.
The Abu Dhabi investment fund said that a majority of its expenditure will relate to its semiconductor unit ATIC.
The construction firm made a net profit of Dhs84.1 million during the first quarter of the year.
Under the agreement, China State Construction develop real estate projects in Abu Dhabi.
Etihad Rail and DP World have signed an agreement to develop an intermodal rail terminal in Jebel Ali Port.
The Saudi billionaire is looking for returns of 20 to 25 per cent from the investments, he told a German paper.
Dubai Financial Market (DFM) recorded revenues of Dhs69.1 million during the first quarter of the year.
Saudi also has 80 million oil barrels in storage for sudden need, the Kingdom’s oil minister Ali al-Naimi said.
The Kuwaiti telecoms operator made a net profit of $255 million during the first quarter of this year.
UAE’s luxury watch retailer Ahmed Seddiqi & Sons has acquired Abu Dhabi-based jewellery chain, Al Manara.