BP has already spent hundreds of millions of dollars on the project since winning the concession in 2007.
The sale will push the bank’s Tier 1 ratio towards its 17 per cent target for the end of 2013.
Gulf economies have ridden out the global financial crisis of the past five years more smoothly than many economists expected.
A team of U.S. negotiators arrived in Qatar earlier on Wednesday and held a meeting with Afghan diplomats in the Qatari capital.
Ties between Egypt and the UAE have been strained since the revolution that toppled veteran Egyptian ruler Hosni Mubarak.
Qatar said in 2011 it wanted to replace its fleet of 12 Mirage fighter jets, possibly buying 24 to 36 units.
The UAE has revived a proposal to merge its two main bourses in a state-backed deal that could boost trading.
The order, previously logged as being from an unidentified customer, makes Oman Air the first Gulf customer for the next generation aircraft.
Premium cabin will serve passengers seeking more on-board frills and entertainment
The new BlackBerry smartphone, priced Dhs1,499 will be unveiled in the UAE on June 20.
Investigation now underway into the cause of the damage on the evening flight from Muscat.
The loan maturity has been extended to the second quarter of 2018 from the second quarter of 2017.
The sultanate’s central bank has issued a warning to the country which echoes a similar statement by the IMF last week.
A market for corporate bonds would help companies finance their expansion plans.
Emirates Airlines is on an unstoppable flight path, connecting Dubai to the world and generating mega-profits in the process.
The emirate, which recently announced a new design district, has now signed an agreement to create ‘Dubai Fashion 2020.’
The Saudi prince is inviting Dubai’s biggest real estate developer Emaar Properties to team up with his investment firm Kingdom Holding.
Dassault’s Rafale jets and the BAE Systems-backed Eurofighter have been locked in competition for the deal to replace at least 60 of the UAE’s Mirage fleet.
Shatha Tower has evacuated its premises after a fire started in the basement of the building.
Chief executive Akbar Al Baker told reporters at the Paris Airshow that the airline could place orders by November.
A joint venture between Mubadala and US-based Prudential Financial bought the residential project for an undisclosed sum.
The entire valuation and the structuring of the deal has already been completed, say sources.
The Bahrain-based investment firm is buying a stake in Al Yusr Industrial Contracting Co from two members of its controlling family.
Fabrice Brégier told reporters he was “very pleased” with the company’s relationship with Middle East airlines.
The worldwide death toll released by the World Health Organization on June 15 stood at 34.
Etihad has wasted no time in taking its commercial relationship to the next level, after starting daily flights between Abu Dhabi and Belgrade on Saturday
The 6MW Port Victoria Wind Farm is expected to power 2,100 homes in the island country.
The agreements for nine B777-300ERs include a firm order for two airplanes previously attributed but not made public, plus a commitment for an additional seven aircraft.
Porsche was forced to sell the stake to Qatar Holding in 2009 as a way to prop up its strained finances.
Construction of the Kazakhstan project is expected to be completed by 2017.