Ominvest said last month it had written to ONIC Holding about forming a strategic arrangement between the two firms
The value of shares brought by foreigners through swap agreements rose to SAR3.53 billion in July, from SAR1.66 billion in June.
The TRA said that fraudsters, seeking to illegally obtain personal information, were claiming to be from an authorised national telephone service provider.
The fund’s return fell despite a strong rise in the Kingdom’s stock market, in which it is one of the major investors.
Trio of hotels amalgamate to form first Marriott Marquis-branded hotel outside the US
The Kingdom reported 10 confirmed new cases of the virus during Ramadan and Eid.
The low-cost carrier will fly to Tehran from August 11 and Mashhad from August 10.
In May, Dubai Investments divested a 66 per cent equity stake in Globalpharma, which contributed a profit of Dhs472 million.
Accor has signed an agreement with Indian developer Hiranandani Group to manage an ibis Styles hotel.
The new $8.5 billion project, known as Rabigh II, is to be built as an expansion of PetroRabigh’s existing petrochemical plant.
The new concourse will be connected to an existing terminal by an automated train.
Revenue for the second quarter was Dhs2.19 billion, up 74 per cent year-on-year.
New multiple entry visas have been introduced for students and medical tourists.
The court ruled that the firm had to repay all three groups of creditors the total amount of $1.56 billion under its restructuring plan.
The Ebola outbreak, which began in Guinea and has spread to Liberia and Sierra Leone, has killed more than 700.
Gaza officials say at least 1,499 Palestinians, mostly civilians, have been killed and 7,000 wounded.
Dubai saw a number of new property launches, some of which garnered strong investor interest as sales launched. Gulf Business picks the top 10 property launches in 2014.
The conglomerate plans to make its first big repayment early, in exchange for more time before a second and much larger obligation needs to be repaid.
Marafih reveals the problem with excessive taxation on telecom operators, and why he is certain Qatar will host the 2022 FIFA World Cup.
The opening of the Saudi market to direct foreign investment is expected to attract a lot of active money.
The Gulf state, Japan’s second biggest oil provider, exported 23 million barrels during the month.
With 25 to 35 per cent of buyers in Dubai depending on mortgages, regulations that limit lending have been instrumental in easing the growth in luxury house prices.
The Dubai benchmark added 0.5 per cent in the first hour of trade with builder Arabtec rising 1.5 per cent.
The Royal Estate project, which was stalled in 2008, was relaunched this year as a joint venture between developers Aristocratic Star, PAL Developments and Pacific Ventures.
The developer is offering its investors an option to convert its Global Depositary Receipts (GDRs), listed on the London bourse into ordinary shares that would be listed on Dubai’s stock market.
Etihad’s plans to take a 49 per cent stake in the Italian carrier has been held up by disagreements over Alitalia’s debt pile and plans for job cuts that have stoked outrage among Italian unions.
Earthquake measuring 5.5 on Richter scale took place in Iran while tremors were felt in Abu Dhabi and Northern parts of the UAE.
The UAE is fast becoming a cashless society, thanks to a smart governance push and the advent of more secure payment technologies.
Emirates also suspended all its flights to Kiev and none of its planes fly over the Ukraine airspace.
The S&P GCC index dropped by 1.8 per cent during the second quarter of the year, according to a report by NBK.