Songbird Estates said the 350 pence per share cash offer did not reflect the value of its property of growth potential.
Banque Saudi Fransi made a net profit of SAR851 million ($226.8 million) in Q4 2014, up from SAR274 million in the same period a year earlier.
SAFCO did not provide a reason for the profit drop in the Enlgish results statement.
Quoting from Muslim scholars, Sheikh Munajjid argued that to build a snowman was to create an image of a human being, an action considered sinful under Islam.
Local media reported that the corporation is ready for the privatisation process and for listing on the Saudi stock exchange.
Wynce Low was previously head of debt capital markets for HSBC in Malaysia.
The new company, created through the joint venture, will operate under the Engel & Völkers brand, the developer said.
The amount is expected to finance 523 projects over a period of five years, a senior official said.
The new restructuring plan involves repaying early an existing $2.92 billion maturity due in 2015.
The chief executive said that Marka was also looking at four asset purchases in the food and beverage sector,
The facility will now be operational for Etihad’s early morning flights, EY103 to New York JFK and EY183 to San Francisco.
The new system is part of efforts by the central bank and the bourse to develop Bahrain’s capital markets and increase their contribution to economic development
The parent-school contract will cover refund and admission policies, school fees, health, safety provision and transportation.
Damac traded at Dhs3.19, up 14 per cent from its London close last Friday.
Several regional companies published positive fourth-quarter earnings.
The National Programme for Government Communication will run for seven years and cover health, education and the environment.
In 2014, UAE companies, led by Emirates and Etihad, invested $163 million in shirt sponsorship, finds new report.
Venezuela’s international reserves have deteriorated sharply due to the tumbling oil prices which hit new lows last week below $50 per barrel.
The Abu Dhabi-based group has seen a number of management changes in the last two years.
Omar al-Amoudi, executive vice president of shared services at Sabic and an existing Kayan board member, took over from Mutlaq al-Morished.
Operating income in the fourth quarter stood at SAR1.995 billion.
The bank cited an increase in operating income, which rose 20 per cent year-on-year, for the profit hike.
Rail projects across the GCC are expected to fuel intra-regional trade while helping reduce fuel consumption.
The investment firm sold the development rights to a plot of land measuring 3.66 million sqm in Qatar’s Lusail City
Certain locations in the city including International City and The Greens offer cheaper monthly mortgages, finds research.
ORPIC runs oil refineries at Sohar and Muscat as well as aromatics and polypropylene production plants at Sohar.
One of the purchases will be of a financial entity, with the second acquisition coming in the real estate sector.
The airline is expecting to begin operations in the Kingdom in the next six to 18 months.
The series of private island villas will be located within the OQYANA World First development forming the continent of Australasia.
The UAE accounted for 54 per cent of BMW’s sales in the Middle East, followed by Saudi Arabia and Kuwait.