The telecoms operator reported a net profit excluding royalty of Dhs1.8 billion in 2011, a 47.8 per cent rise over the previous year.
The move makes the Abu Dhabi-based sovereign wealth fund one of the largest shareholders in Arabtec.
Total bank deposits in the UAE reached Dhs1,069.7 billion at the end of December 2011, according to the central bank.
The kingdom’s foreign trade revenue amounted to SR1300 billion in 2011 and is set to rise by 14 per cent this year.
A Korean consortium has signed a deal with ADNOC to acquire a 40 per cent stake in three oilfield projects in the UAE.
Kuwait’s controversy-ridden stock market regulator, Capital Markets Authority (CMA), has appointed three new commissioners.
The health ministry has said that many herbal products may contain harmful drugs and are also packed in unhealthy conditions.
Saudi Arabia has increased the price of its Arab Light crude oil for customers in Asia by $1.25 a barrel for April.
The value and volume of shares traded on the Dubai Financial Market increased in February.
Many people in the country are dissatisfied with their current financial position, according to a Bayt.com-YouGov survey.
Royal Bank of Scotland said it no longer requires equity research on Middle Eastern companies from Dubai’s Rasmala Investment Bank.
Abu Dhabi’s International Petroleum Investment Company is refinancing the $850 million, three-year loan it signed in February 2009.
Hotels in Dubai and Jeddah saw occupancy levels rising in January 2012, according to TRI Hospitality Consulting.
Dubai’s Drydocks will present its restructuring plan for its $2.2 billion loan facility next week.
The country’s non-oil trade reached Dhs759.8 billion during the first ten months of 2011.
The Saudi company owned by Prince Alwaleed bin Talal plans to tap debt markets through sale of either conventional or Islamic bonds.
While the bank’s income from the country rose seven per cent last year, expenses also increased by six per cent.
Dubai-based Noor Islamic Bank clarified that it has ended all business relations with Iranian banks.
Noor Islamic Bank has reportedly been forced to cut off its banking business with Iran by the US Treasury.
The head of Bahrain’s sovereign wealth fund reportedly resigned because of differences with the board.
The Ministry of Economy will now be able to monitor the flow of essential goods and their prices across the country.
The Saudi Industrial Development Fund has reportedly approved 13 loans to start nine new projects in the kingdom.
The brand hopes to increase its regional visibility by continuing to sponsor events like the Dubai Duty Free Tennis Championship.
The UAE-based private equity firm is holding talks to acquire Viking, an integrated oilfield service company.
The Saudi dairy company is currently in talks Pepsico to up its 48 per cent stake in IDJ, their joint venture firm.
The number of people killed in traffic accidents fell by 12.8 per cent last year, according to the interior ministry.
Talal Al Zain is leaving Bahrain’s $9 billion sovereign wealth fund to set up an investment firm.
The Qatari conglomerate saw net profits for the year increase by 21 per cent year-on-year to reach $76.6 million.
ABC Islamic Bank announced a net profit of $8.1 million for 2011, based on lower provisioning.
The mall is part of a mixed-use development project located in Bellevue, Washington, that Investcorp invested in five years ago.