UAE Oil Minister Suhail bin Mohammed al-Mazroui said on Tuesday that OPEC’s decision in November not to cut output had been right.
Brent crude dropped four per cent to below $46 a barrel following a five per cent plunge on Monday.
Emirates Nuclear Energy Corporation (ENEC) completes the concrete dome for the Unit 1 Reactor Containment Building.
The company has purchased plots in Dubai’s Umm Suqeim area and Riyadh’s King Fahed Road to develop its latest projects.
Doha carrier wastes no time in ramping up operations of new widebody aircraft
The bank attributed its increase in net profit to a rise in total operating income, which gained 13.4 per cent.
The project will process around one billion cubic feet a day (bcf/d) of sour gas into 0.5 bcf/d of usable gas.
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.