Badawi was arrested in June 2012 and charged with cyber crime and disobeying his father.
Omantel attributed the profit rise to a 29 per cent increase in wholesale revenue.
The budget hotel rooms span 26 sqm, with prices around Dhs300 a night
The IPO will be divided into two sections and conducted as a book-build offering, the statement said.
The company will supply pre-programme management consultancy services and staff.
The group will launch four new projects in the UAE and Saudi Arabia by 2015, officials said.
Zain did not explain why it had done the deal but its chief executive said last year that the Kuwaiti telco wanted to retain majority control of the subsidiary.
The firm said it would pay 10 per cent of claims as an upfront payment and would target a total recovery for creditors of between 40 and 60 per cent of their due cash.
Further privatisations of state-owned companies in Oman were also unlikely to take place in 2014, its financial minister said.
KIPCO’s first-quarter revenue rose 19 per cent to 137 million dinars.
The hotelier is currently mulling six projects in Dubai, says chairman.
The Kingdom’s stock market saw five initial public offers of shares in 2013 worth around $506 million.
Tesco frozen, dry grocery, organic food and FMCG products will available during the first stage of the rollout, the retailer said.
The company’s profits rose on the back of gains from the sale of investment properties.
The deal is part of an agreement by Barwa to sell assets worth a $7.1 billion to Qatari Diar.
Saudi Arabian conglomerate Ahmad Hamad Algosaibi & Brothers’ failure in 2009 left debts estimated at more than $7 billion.
The value hotel brand plans to supply over 1,750 new hotel rooms and serviced residences.
The project includes the redevelopment of the former international airport in Hellenikon, Athens.
State-linked firms are likely to repay obligations ahead of schedule.
IMF official asks Dubai officials to look at stricter measures such as those used in Singapore and Hong Kong to cool property market.
The firm is also looking to expand its Indian Ocean portfolio with potential contracts in Thailand and Sri Lanka.
Alkhair, which has been operating in the Saudi market since 2009, opened an office in the Dubai last month.
BPCL operates a 240,000 bpd Mumbai refinery in western India and a 190,000 bpd Kochi refinery in the south of the country.
Economy and Planning Minister targets annual economic growth of five percent in the country’s 2015-19 development plan.
Ultimatum a sign of the Capital Markets Authority (CMA) tightening its oversight on corporate disclosure norms in the Gulf State’s financial sector.
Growth expected as a result of the country’s next five-year development plan.
Concerns that the KAEC Financial District would not be competitive have halted development.
Delivery coincides with the Doha-based carrier shifting its operations to Hamad International Airport
The airline has allocated up to three per cent of its revenue on marketing and promotion, says senior executive.
Saudi tourism president says the Kingdom will consider changing its policies as systems, airports and the country’s security network improves.