Iraqi Prime Minister Nuri al-Maliki has said that the Kingdom backs Sunni militants ISIL.
Al Rajhi is the Kingdom’s biggest listed lender and the world’s largest Islamic bank,
The project will be developed on a build, own, transfer (BOT) basis with a total investment of $2 billion, ACWA said.
Shares of Malaysian Airline System Bhd rose the most in more than a year on Wednesday following a media report that the carrier will form a partnership with Etihad Airways.
Construction on Abu Dhabi’s Reem Mall is expected to begin in 2015, with the project slated to complete in 2018.
The loan has a lifespan of 15 years but there is a grace period of ten years before repayments begin, a statement to Riyadh’s bourse said.
Under the proposed new arrangement, the Reserve Bank of India would buy the dollars from authorised currency dealers, instead of the Indian oil buyers tapping the currency market.
According to the report, 3.3 per cent of UAE households hold private wealth of at least $1million.
The company confirmed the appointment of Mohamed Al Fahim as Arabtec’s acting CEO for an unspecified “temporary period”.
The foreign ministry said that the UAE, a close ally of Saudi Arabia, opposed any interference in Iraq’s affairs.
The toughening of rhetoric about Iraq by the Gulf’s two top powers suggested that they have put on hold plans to explore a curbing of their rivalry across the region’s Sunni-Shi’ite sectarian divide.
The 588-room hotel, located in the Dubai World Trade Centre District, is scheduled to open in Q1 2016.
Saudi Arabia is one of the important US allies in the fight against terror funding in the region.
Dubai builder Arabtec’s share price plunged as much as 50 per cent in the last six weeks.
The minister urged nations racked by violence to meet the “legitimate demands of the people and to achieve national reconciliation (without) foreign interference or outside agendas”.
Saudi Arabia, Kuwait, Oman and Jordan were the other attractive retail markets in the Middle East, according to a new report.
The low-cost carrier will now operate 21 weekly flights between the UAE and Muscat.
A new study shows that the emirate rose to the third position this year, up from the eighth position in 2013 in the list of most popular destinations for China’s rich travellers
The fasting hours this year are expected to last for around 15 hours, according to the Sharjah Planetarium.
Doha carrier now serves both city hubs and is the latest carrier to fly to the more conveniently located airport
The bill, which covers all equestrian disciplines from racing to polo, outlines financial penalties from Dhs20,000 to Dhs500,000 ($5,400-$136,100) for various doping offences.
The GCC luxury goods market has continued to grow fast, at a rate of five to eight per cent.
The country’s net foreign assets are currently worth about $730 billion.
RAKBANK, rated BBB-plus by Fitch, attracted books of over $1.5 billion for its offer.
The 750kg reptile, brought in from Australia, becomes latest attraction in Dubai Mall, as Emaar seeks to boost visitor footfall.
The virus has been reported in more than 800 patients worldwide, mainly in Saudi Arabia.
The lender has gathered more than $2.25 billion in orders for its bond sale so far.
The agreement will facilitate joint investments by both organisations in clean energy projects and green technology investment funds.
Microsoft’s latest gaming console will also be available with Kinect for Dhs2,199.
Bids for phase one are due by August 14.