GE CEO Jeff Immelt says the firm will cut jobs globally but inject $1 billion into Saudi Arabia.
The central bank introduced caps for loans made to local governments and their entities in April this year.
Dubai and Australia’s flagship airlines are waiting on the results of a competition watchdog’s ruling ahead of their planned alliance.
UAE’s foreign minister has said the Brotherhood does not believe in the nation state or the sovereignty of the state.
The Kuwaiti telecoms operator is looking for funding to help boost network capabilities and improve its current services.
NBAD is looking to reap 10 per cent of its operating income from Islamic banking by 2020, up from three per cent currently.
Kingdom Holding sold the plot in Riyadh for $66.6 million.
The dairy producer’s third quarter revenue rose 27 per cent to SAR2.7 billion.
Abu Dhabi’s flagship airline is looking at more minority stakes to further expand its global reach, says CEO.
The airport retailer saw sales increase 10 per cent year-on-year during the first nine months of 2012.
The decision by Sheikh Sabah al-Ahmad al-Sabah offers hope of new parliamentary elections.
Qatar’s indicator for sector performance in the region reports a 15 per cent rise in net profit for first nine months of the year.
The proceeds will be used to refinance existing debts, said sources.
The assets being sold include land in Qatar and the Barwa New Cairo project in Egypt.
Passenger revenues were boosted by code sharing and partnerships.
His Highness Sheikh Mohammed bin Rashid Al Maktoum has given the green light on the $411 million Business Bay project.
The IMF said its base scenario envisaged a fiscal deficit of 0.6 per cent of GDP by 2016.
The Qatari telecoms operator is to own almost all of Kuwait’s Wataniya network as Kuwait Investment Authority sell up.
UK-based Barclays quit the panel in July.
Property developers not complying with the laws and rules set by Dubai’s RERA should face strict penalty, says Khalid Al Malik, DPG’s group CEO.
The move is expected to boost Kuwait’s banking sector.
Developers are upbeat about recovery in Dubai’s property market.
Gulf Business brings you all the news from Dubai’s main property event.
The property investment firm is eyeing offices in Oman and Qatar after the region accounts for 18 per cent of London’s purchases.
The investment bank’s shares are down 93 per cent from a 2008 peak.
Experts say that the off-plan market is much better regulated now compared to pre-financial crisis.
Order books for the deal reportedly hit over $6 billion ahead of launch.
The company has no plans to launch an IPO, but may do so in the future.
Master communities such as Palm Jumeirah and Downtown make up 62 per cent of all transactions in Q3.