Key will be what OPEC’s biggest producer, Saudi Arabia, decides, with some analysts expecting no price supporting action from the Kingdom.
Bourses in the UAE and Qatar began recouping early-session losses as stocks whose weightings in MSCI’s emerging markets index are set to increase topped trading volumes.
The capital increase will require the approval of the bourse regulator and an extraordinary shareholder meeting, a bourse statement said.
The company plans to use the proceeds to refinance an existing $380 million loan package at a lower interest rate and to provide cash for potential expansion.
A senior official said that the fund will be looking to invest in clean energy since it is an area of interest to both the UAE and China.
A ministry spokesperson said that the leader of the al-Ahsa attack had received orders from abroad, detailing the target and the location of the attack.
Saudi’s oil minister brushed off questions about tumbling oil prices and surplus supplies.
EMG listed 15.4 per cent on the Dubai Financial Market, raising $1.58 billion from the sale, which was well covered by investor bids.
Abu Dhabi-based Khalifa Fund for Enterprise Development said it signed the loan agreement with the Egyptian government in Cairo.
The company plans to invest in a new refinery and a clean fuels project, its chief executive said.
WAM also cited Mazroui as saying that lower oil prices “will not constitute a disaster for the UAE”, noting that the UAE has managed to diversify its economy away from oil.
Located at The World Islands, the store will be at a depth of four meters underwater.
The Fadhili gas plant is due to be in operation by the third quarter of 2018.
The new flag-down rate will increase from Dhs3 to Dhs5 during the peak hour timings of 7-10 am and 4-8 pm.
The recently-opened Al Etihad Credit Bureau aims to serve as a safeguard against a repeat of the credit bubble.
Upto 35 per cent of overall infrastructure work on the Dubai Parks and Resorts complex is completed, confirm officials.
The service, which is scheduled to begin on December 1, will boost cargo and passenger capacity by a third on the route.
A two per cent tax on the remittances sent by foreign workers in Oman is estimated to generate about OMR62 million.
Europe 1 radio said such a deal would be worth 2.5 billion euros and could help unblock other negotiations.
Hotels can boost in-house guest spending by 37 per cent during pleasant weather conditions by personalising communication to guests, a new study says.
Dow Chemical announced recently that as part of a $7-$8.5 billion divestiture plan, it would reduce its equity positions in all of its Kuwaiti ventures.
Qatar’s index rose 0.3 per cent while Abu Dhabi’s benchmark edged up 0.1 per cent.
Hamilton went into Sunday’s race 17 points clear of team mate Nico Rosberg but with the German on pole position and an unprecedented double points on offer.
The five-year note, which can be converted after three years into shares, will represent around five per cent of the firm’s current share capital.
The fog delayed the departure from Abu Dhabi of 44 early morning flights by up to four hours, while several others were cancelled, the airline said.
Iran’s oil minister will meet his Saudi counterpart in Vienna to persuade the oil giant for cuts in oil production and supply, state news agency said.
Abraaj is now offering 79.10 pounds ($11.06) a share for a total purchase price of 909.65 million pounds, it said in Sunday’s statement.
Henrik Stenson’s win also put him second on Europe’s money list and he will earn a further $800,000 from a $5 million bonus pool shared among the European Tour’s top 15 players.
No further details about the meeting were disclosed.
The new initiative is part of a programme that aims to transform the emirate into an open air gallery, with various art exhibits across different points of the city.