Saudi oil minister Ali Naimi confirms that the natural gas field will start production within “short period.”
Exports rose 38.5 per cent to Dhs416 billion, driven by a rise in oil prices.
Government expenditure is up six per cent from 2012, while revenues are forecast to rise 7.8 per cent in 2013.
Saudi’s behemoth banks were flush with capital in 2012.
Arabtec and SS Lootah have been awarded the contracts for the Dubai developer’s Jumeirah Park development.
Reports say the Kingdom wants to buy 100 of the Dingo armoured vehicles over the longer term.
The Kingdom’s aviation authority launched its first sukuk in 2012 and raised SAR15 billion to fund the Jeddah airport development.
The Abu Dhabi airline is set to achieve a 22 per cent year-on-year increase in passenger numbers.
The Gulf state’s real GDP rose 3.9 per cent in the third quarter of the year, according to official data.
Foreigners buying real estate in the UAE can now only get a loan for up to 50 per cent of the property’s value, say sources.
The expansion dovetails with the opening of Concourse A, the world’s first purpose-built A380 concourse, at Dubai International Airport in January
2013 revenue projected at a conservative SAR829 bn, according to Emirates NBD, as spending on education and healthcare to increase.
The Emirates CAE Flight Training Centre services over 200 aviation clients and trains more than 10,000 pilots and technicians a year
The Gulf state’s inflation rate will slow to 4.1 per cent next year, says central bank chief.
The government plans to spend $219 billion in 2013, 19 per cent higher than the amount budgeted for 2012.
Qatar Airways and Bahrain’s Gulf Air have become the first foreign airlines to obtain carrier licences in the Kingdom.
Airline claims Lindner Depa Interiors was to build 19 airport lounges at New Doha International Airport by the summer “but failed to complete the project on time”
The country faces political problems and a hangover from banks that were affected in the global economic crisis.
As part of the deal, Emirates will become the official airline of the ATP World Tour and the new title sponsor of the ATP Rankings.
The emirate’s tourism authority is holding a five-city road show in India in January.
The new facility at Terminal 3 of Dubai’s International Airport is scheduled to receive its first flight in January 2013.
Provisions set aside for specific NPLs fell slightly to Dhs65.3 billion at the end of October from Dhs65.4 billion in September.
The Indian carrier recently launched the Boeing 787 Dreamliner aircraft between Dubai and New Delhi.
The loan amount will be used for general corporate purposes.
The fall in the index was led by Kuwaiti investors selling out profitable positions ahead of holidays.
Former owner Cunard dismisses reports that the Queen Elizabeth II liner will be scrapped.
Over 13.4 million passengers passed through the capital’s airport in the first 11 months of this year.
Abu Dhabi Islamic Bank is the UAE’s first lender to receive a banking license in the African nation.
Survey shows ‘significant increase’ in investment from Europe.
The plant, located in Jubail, is expected to start production in the second half of 2014.