Arabtec slips 2.4 per cent and Dubai’s benchmark is up 0.5 per cent, after rising as much as 1.0 per cent early in the session.
Construction has begun and should be completed in the first quarter of 2017, with commercial operations beginning later in that year, a statement said.
Qatar company teams up with IHG for first time and will invest in key European hotels to bring them back to their full glory
Under new rules announced last week, retailers and traders no longer needed to ask the government for permission to raise prices.
Egyptian state news agency MENA said Saudi would inject $124 million dollars into the Saudi Egyptian Construction Company (SECON).
The U.S. Secretary of State will most likely meet the Saudi monarch in Jeddah.
The firm plans to raise the amount from a loan or bond issue by the middle of next year.
The figure is an increase on the SAR1.0 per share which the company paid out for the corresponding period of last year.
The two carriers have been in talks since December, but a deal has so far been elusive.
The phone, BlackBerry’s new android app-compatible model, will be priced at Dhs899.
Flights are suspended until further notice and passengers will be rebooked on alternative Emirates flights, the airline said.
The central bank seized control of Corpbank, in which Oman fund holds a share, after a run on the lender.
The developer will announce new “big” projects later this year, confirmed Ali Rashid Lootah.
The adoption of the amendments clears the path for the project, which was initially delayed due to lack of funds following the financial crisis.
Khalil al-Marzouq, deputy leader of the al-Wefaq party, was charged with inciting terrorism.
The repayments will be funded from Nakheel’s own resources rather than support from the Dubai government.
The deal parties are Huawei, Nokia, NEC Corporation, Cisco Systems and Alcatel Lucent.
The appointment comes as the group looks to build six more schools in the region.
Trading is active, suggesting the market’s tumble this week is viewed by some investors as a buying opportunity.
Alhokair did not give the pricing of the sukuk, which was sold in a private placement to investors in Saudi Arabia.
Arabtec’s shares, the most heavily traded in Dubai, plunged 53 per cent this month, dragging down the entire market.
Under the plan, an ultra-luxury 350-room resort will be added to the existing Jumeirah Beach Hotel.
It attributed the decline in earnings to lower revenues from reduced average daily trading volumes.
The Peninsula Paris will be Qatari company Katara Hospitality’s 14th operational hotel.
The company’s camel milk chocolates will be sold across all major duty free outlets through its listing with Gebr. Heinemann.
Ismaik said he had left Depa to focus on his personal business.
The villas, which come with a starting price of Dhs36,000,000, will be ready by Q1 2017, the developer said.
Saudi Arabia has the ability to pump to its full capacity of 12.5 million barrels per day, an official said.
ALIF Fund will be managed by the International Airfinance Corporation with Airbus and IDB as investors and partners.
Hasan Ismaik, who resigned as head of the firm last week, said that he has offers from government entities and an international construction firm.