The sale, which is not expected to complete until next year, continues IHG’s strategy of selling on its hotels and then managing them under contract.
Bahrain News Agency quoted a senior official as saying that Qatar had “targeted specific families and singled out a particular category of people” with no consideration to Bahraini laws.
Shares of Dubai-based construction firm Arabtec’s went on a roller-coaster ride last month, taking the wider Dubai Financial Market down with it. What went wrong?
The deal foresees Etihad taking a 49 per cent stake in Alitalia and investing 1.2 billion euros ($1.6 billion) in the airline over the next three years.
The Dubai-based carrier will add a second daily service to Morocco from September.
The company said that it would shortly make an initial payment to creditors of approximately Dhs2 billion ($545 million), with the remaining debt to be paid over a 12- year period.
The growth in passenger traffic was mainly due to the temporary shift of almost 600 flights from Dubai International during the runway upgrade project.
Infrastructure project awards across the GCC are forecast to exceed $86 billion in 2014, up 77.8 per cent over 2013, a new report says.
The bidding process for the 2024 games is expected to begin in 2015, and the winning city will be revealed in 2017.
The Dubai-based airline said it will continue to operate flights to Basra and Baghdad.
Limitations on hiring imposed by the Nitiqat nationalisation programme led to the closures.
The bank’s net attributable profit for the three months to June 30 was $125.9 million, compared with $93.2 million in the corresponding period of 2013.
The ministry said it was working to trace the man’s route of travel and identify people he was in contact with.
The hotel called ‘Suites in Skai’ had 234 hotel rooms, 234 one and two bedroom apartments and 33 penthouses for sale.
The training for the first batch of conscripts will begin on August 30, state news agency WAM said.
Lebanon has been buffeted by violence linked to the Syrian conflict, including rocket attacks, suicide bombings and gun battles.
The law, originally announced in late May, allows foreigners to own more than 49 per cent of a company in special cases.
The plot spread across 55 million square feet of land is almost 30 per cent larger than Damac’s current biggest project Akoya.
The new device comes with a 6-inch screen and a 16MP rear camera and offers several photography features.
Etisalat Misr is planning a $500 million share sale on the Egyptian stock exchange, according to reports.
The Sharjah-based energy firm said its average production volume was up 17 per cent to 72,200 barrels of oil equivalent per day.
The hospitality firm will manage a beach resort comprising of a hotel and residences in the Sahl Haseesh development in Egypt.
The incident, which led to the closure of the northern England airport for 25 minutes, briefly sparked fears of a terrorism attack.
Dubai’s real estate sector offers a number of medium to long-term investment options for foreign buyers, an expert says.
The contracts were awarded to subsidiaries of the interior contracting company.
The man, aged 40, was admitted in a hospital in Jeddah, the health ministry said.
Occupancy rates across the emirate’s hotel and hotel apartments reached an average of 77 per cent during the first six months of the year.
The Kingdom’s non-oil business sector was boosted by strong output and new orders, a survey showed.
The HSBC UAE Purchasing Managers’ Index was at 58 points last month, down from 58.2 points in June.
New services to the ‘windy city’ provide Emirates with new destination and transfer opportunities