For Abu Dhabi’s Mubadala, the purchase is part of a push to invest in assets other than oil.
The cash payment will be funded by the sale of part of its land bank in Saudi Arabia, the company said
Emirates Global Aluminium is currently building a bauxite mine and an aluminium refinery in the West African country.
Dubai’s stock index slid 1.3 per cent, heading for a second straight daily close below its 200-day average
The developer did not disclose the value of contracts.
Saudi Arabia’s Mobily, 28 per cent owned by Etisalat, said earlier that it would reissue its 2014 and first quarter 2015 financial statements
Damac’s latest hospitality project is an 826-key luxury hotel and residences tower on Sheikh Zayed Road.
Airport passenger traffic growth was largely driven by flights from the US, India and Italy.
The interior ministry named the bomber as Fahd Suliman Abdul-Muhsen al-Qabaa and said he flew into Kuwait’s airport at dawn on Friday
The current CEO Ahmad Bin Byat has been promoted to vice-chairman and managing director while COO Fadel Al Ali will take over as CEO
The Saudi Arabian company had already received SAR 250m from Arabian Shield Cooperative Insurance Co in late March
The company made the statement after a team appointed by the Capital Market Authority identified concerns over Mobily’s contracts with customers
UAE’s minister of foreign affairs Anwar Gargash said that recent attacks indicated the severity of the challenge ahead.
Talks in Geneva last week ended without a resolution to the conflict, which has claimed more than 2,800 lives
The deal is expected to be completed during the second half of 2015, the bank said in a statement
Aeroports de Paris, insurer AXA and construction group Eiffage are among the companies in the consortium led by France’s Caisse des Depots (CDC).
The interior ministry said the driver of the car was an illegal resident named Abdul-Rahman Sabah Aidan
It was the first suicide bombing at a Shi’ite mosque in Kuwait and worst militant attack in the country for many years.
Roy Kinnear, who was a senior vice president at Etihad Airways, replaces Manoj Papa.
Horizon Plantations and Ethio Agri-CEFT plans to more than double its coffee production and expand tea output.
The global change readiness index ranks 127 countries best prepared to respond to political, economic and social change
The countries set up a joint committee in May to finalise some 20 projects across sectors ranging from defence to transport infrastructure
The refinery is now processing crude at full capacity of 400,000 barrels per day
The kingdom fell behind Nigeria for Indian supplies and lost out to Russia and Angola for crude supplies to China
Qatar is set to spend more than $200bn on the soccer tournament as part of a 2030 development plan
Dubai-based International Airfinance Corporation will buy the aircraft and lease them to Saudi Arabian Airlines
The attack, which was targeted at an aid convoy that included the UAE’s ambassador, took place in Mogadishu’s Hodan district
The authority is also planning to build three substations, especially to deal with rising power demand during Expo 2020
A list of the top iftars around Dubai this Ramadan, what they charge and their major attractions.
The report attributed the UAE’s top ranking to its perseverance in diversifying its economy away from oil and gas