Employees will get one-day off to mark New Year’s and resume work on Jan 2.
The deal will generate $242.70 million in revenue for the German carrier.
The civil aviation will also allow new carriers in an attempt to spur growth.
Emirates NBD’s offer was highest in a second round of bidding that took place in December.
The Abu Dhabi-based airline is about to buy a stake in either Jet Airways or rival Kingfisher Airlines.
The Saudi lender’s issue was around 2.2 times covered by investors.
Exclusive: Tony Douglas, boss of ADPC, said the newly opened Khalifa Port will mop up Mina Zayed’s traffic and benefit from rising MENA trade.
Take a look at the new Concourse A inside Terminal 3 of Dubai International.
Yas Waterworld Abu Dhabi is set to open its doors to the public in the New Year.
The $66 million development is held up again by land issues.
A look at the new 500,000sqm Concourse A that has the capacity to handle 15 million passengers a year.
Exclusive: Oman Air announces new flights into India and Pakistan.
The five-star resort will see its 446 rooms and F&B outlets refurbished.
The new concourse A at Terminal 3 was tested by 1,000 volunteers.
Sheikh Sabah al-Ahmad al-Sabah warned against ‘lawless behaviour and chaos on the streets.’
Interest in deals is up say experts, but closing deals is still lacking as billions of dollars in dry powder lies waiting.
Following complaints from several banks, requirements on liquid assets have been postponed.
The telecoms operator covered the costs Zain Saudi owed the U.S. firm.
Qatar’s Masraf Al Rayan will have until the new year to decide on a proposed takeover of the lender.
The developer has announced its first major project since 2008 with a 53-storey tower in Downtown Dubai.
The 89-year-old king has left hospital after a four-week visit for a back operation.
Boeing’s Dreamliner 787 promises more efficient fuel technology and cleaner air for passengers.
The airline’s chief executive criticises Boeing as electrical faults force new 787 to remain on the tarmac.
The Abu Dhabi-funded club reports record revenue as Etihad-influenced commercial revenue doubles.
Unemployment in the Gulf state currently stands at around 24 per cent, according to the IMF.
The British oil company was originally excluded from the process after not receiving a qualifying letter.
The contract is to build the third phase of the Jabal Omar development in Mecca.
Qatar Airways took delivery of the first of 60 Dreamliners last month with the third 787 joining the airline’s fleet a few days ago.
Bahrain’s Takaud hopes its product will help MENA companies struggling to deal with an ageing population.
The additional widebody planes will help serve the carrier’s ongoing network expansion