State-owned National Commercial Bank, which has about $116 billion of assets, currently has a mixed business.
Carrefour City stores will cater to smaller neighbourhoods across Dubai and will offer convenient shopping options, Majid Al Futtaim said.
The bank expects to post double-digit loan growth in the next 12 months, its CEO says.
The world’s top oil exporter exported 6.663 million barrels per day in August, down from 6.989 million bpd in July.
The company made a net profit of SAR303.74 million ($81.0 million) in the third quarter, up from SAR282.08 million in the year-earlier period.
The company made a net profit of QAR1.86 billion ($511 million) in the third quarter, up from QAR1.77 billion in the year-earlier period.
The firm made a net profit of SAR691.3 million ($184 million) in the third quarter, down from SAR864.8 million in the same period of 2013, a statement to the Saudi bourse said.
The strategy will focus on bringing innovation into seven sectors namely renewable energy, transport, education, health, technology, water and space.
Nabeel Rajab went on trial over remarks published on his Twitter account that were critical of state institutions.
As part of a US settlement in August, the bank was given 90 days to end high-risk relationships with SMEs in the UAE.
The company’s chief executive said that the fund is looking to invest in sectors such as power and water, oil and gas, healthcare and education.
Worries about weak earnings report on growth and business had sent Middle East bourses tumbling, with Dubai’s index down 13.6 per cent last week
Under the plan approved at a board meeting on Thursday, MMG’s capital will be cut from SAR1.25 billion to SAR125 million, creating one share for every 10 shares currently possessed.
Christie’s will not be taking an equity stake in the new affiliate but will provide marketing and PR support.
The company, a unit of Saudi Basic Industries Corp (SABIC), said it made a profit of SAR913 million ($243.5 million) in the third quarter, up from SAR734 million in the year-earlier period.
The restaurant is among the first of five food and beverage outlets that Marka is planning to open by next year.
The field, whose production is around 280,000 bpd-300,000 bpd, will be brought offline “immediately”.
The bank made a net profit for the three months to the end of September of KD10.9 million ($37.8 million), compared to KD9.8 million in the year-earlier period.
While average rents dropped in Q3 compared to Q2, rental rates recorded double digit increases on a year-on-year basis.
The Kingdom’s largest listed retailer aims to open six new stores on average each year.
Gary Anderson is stepping down due to ill health and will be temporarily replaced with COO Gaurang Desai.
Portugal’s largest listed lender, Banco Espirito Santo, was rescued by the state in August.
Burgan said it plans to issue 216 million new shares and that the rights issue will raise its paid-up capital to KD197.18 million.
The project will be spread across a total area of 25 million square feet and will be located along Emirates Road.
Jumeirah in the emirate came bottom on a list ranked by the cost of a basket of travel essentials.
Middle East bourses tumbled last week, with Dubai taking the biggest hit and losing 13.6 per cent.
The firm attributed the rise to a 5.6 per cent rise in revenue and a reduction in costs and marketing expenditure.
In March, Arabtec said it would build one million homes in Egypt in a $40 billion project backed by the Egyptian and UAE governments.
An industry source said there was no impact on oil operations in the world’s top crude exporter.
Atlantis refinanced an $880 million loan to take advantage of favourable market conditions, ICD confirmed.