In December, Tasnee bought 13 per cent in Cristal – one of the world’s largest producers of titanium dioxide – for SAR1.8 billion.
The fund holds stakes in Bahraini companies including Aluminium Bahrain, Gulf Air and Batelco.
Second Pullman hotel in Dubai targets business and leisure travellers in the fast-growing community
The crackdown will be the largest operation ever, conducted by the authorities in Kuwait, an official said.
The Gulf country is expected to see a growth of 3.5 per cent for 2015 and 2016, according to IMF’s latest update.
Sarie Ahmed Arar, currently the executive vice president of wholesale banking, will assume the role of acting CEO.
Safi Qurashi has been ordered to pay Dhs11 million to the property developer for a case relating to the Dubai Waterfront project.
The annual shopping festival, running from January 1- February 1, is celebrating its 20th edition this year.
The decrease in oil prices has not had an impact on electricity generation in Dubai, said Saeed Al Tayer.
A Tier 1 capital-boosting bond was its preferred method, the bank said.
Alderman Alan Yarrow will visit Abu Dhabi and Dubai during his trip next week, part of wider 12-day GCC visit.
Air traffic in the GCC is expected to grow by six per cent over the next few years, a top industry official said.
The closure of the facility in Ras Al Khair belonging to Ma’aden Phosphate Company will have no significant financial impact.
Mobily made a net loss of SAR2.28 billion ($607.1 million) in the last quarter of 2014.
The minister said that OPEC’s policy might temporarily force high-cost producers out of the market but they would eventually come back.
The company has yet to make a quarterly profit since launching services in 2008.
The company attributed the fall to losses in financial investments, higher operating expenses and finance charges.
Ali al-Omair also said the Kuwait’s budget for the next fiscal year was expected to be based on an average oil price of $40 to $45.
Abengoa will jointly develop the project with AWT, the commercial arm of King Abdulaziz City of Science & Technology.
Al Mansouri was previously director general of the UAE mGovernment and the deputy director general of the TRA.
Emaar Properties owns 84.6 per cent of EMG, having floated 15.4 per cent of its subsidiary last September.
GDP, adjusted for inflation, grew two per cent from Q4 2013, down from 2.4 per cent in the third quarter.
Renewable energy targets have been revised to 2.3 per cent by 2017 and 15 per cent by 2030.
Although the developer recorded a slowdown in sales during the second half of 2014, prices have stayed the same, says chairman.
The firm is seeking a three-month extension to a debt repayment due at the end of 2014.
Lower oil prices are not affecting Oman’s upstream strategy, and there is no change in its 2015 energy plans, the minister said.
The company made a net profit of Dhs3.68 billion ($1 billion) in 2014, up from Dhs2.57 billion in 2013, its chairman said.
The new loan also has more favourable pricing and conditions than the existing deal.
Oil minister Ali al-Omair said that Kuwait would nevertheless continue developing its production and refining capacity.
Reef Towers will comprise of 378 units and seven retail units, the developer said.