The group, with links to the royal family, has bought a 45 per cent stake in Native Land which operates in London’s wealthy Chelsea.
Seven consortia including Qatar Airways and Bahrain’s airlines are hoping to qualify for a new licence in the Kingdom.
Savola Group also posts a rise for the second quarter making $90.9 million profit, up 48 per cent.
Five mins with… The chairman of Agility, the region’s largest logistics firm.
The emirate’s strong infrastructure investment is fueling growth in the economy, says new report.
Qatar has the highest levels in the Middle East while Egypt sets a record; Lebanon scores the lowest.
Higher revenues from international operations boosted the telecoms operator’s profits.
The Kuwaiti bank’s CEO blamed the political deadlock in the country for hampering economic growth.
The government will ensure shops and supermarkets do not overcharge customers during the Ramadan period.
The country’s first nuclear station will begin construction as the licence is agreed for ENEC and KEPCO.
Saudi Basic Industries Corp saw its quarterly profit drop due to lower prices and production.
Oman’s lender makes $50.6 million profit for the first half of the year, a huge rise from the same period last year.
Facebook has 45.2 million users in the region while four million Arabs use LinkedIn, says new report.
The Kingdom plans to allow foreign firms to list on its stock exchange within a year, an official has said.
The low-cost airline carried 1.3 million passengers during the second quarter of 2012, up 15 per cent from Q2 2011.
Zain’s share hold in the Saudi operator could rise to above 50 per cent forcing the Kuwaiti firm to consolidate losses.
The bank made a Q2 net profit of $26.8 million, up on analysts’ expectations and last year’s results.
Working hours for private sector companies have been cut from eight to six per day, the labour ministry has said.
The UAE aims to increase exports from the new oil terminal as threats to close the Strait of Hormuz rise.
The country’s oil production fell 4.1 per cent to 27.7 million barrels in June compared to May.
Oman’s largest lender has offered new shares to existing holders at a discounted price to raise over $250 million.
The Oman lender made net profit of $90.9 million in the second quarter, above analysts’ estimations.
The telecoms company said that it made a net profit of $379 million in the second quarter of the year.
The new rule, introduced by the central bank, will begin next year and extend until the end of 2014.
The country’s first nuclear plant receives approval from the UAE’s environmental regulator.
Rents for both villas and apartments have increased year-on-year in 2012, says a new report.
Saudi Arabia’s announcement of five new laws will affect homeowners and businesses when they come into effect.