Abu Dhabi Islamic Bank said it would acquire 110,000 customers through the deal.
UniCredit, which is one of Alitalia’s creditor banks, owns a 13 per cent stake in the airline after it took part in a 500 million euro share issue.
Etihad has finished reviewing Alitalia’s books as it considers whether to invest as much as 300 million euros via a capital increase, sources say.
A carrier must be more than 50 per cent owned and “effectively controlled” by an EU member state or EU citizens to obtain an operating license.
The company said the shareholders approved the allocation at a meeting on Thursday.
MSCI will raise the UAE and Qatar to emerging market from frontier market status at the end of May.
The Japanese automotive industry is one of the most prominent in the world.
Tech-savvy consumers will drive the growth of e-commerce in the country’s retail sector.
The Emirates App will allow passengers to manage their booking, check in online and download their boarding pass.
The Dubai Financial Market’s new rules are part of broader efforts to develop Islamic business in the emirate.
Dubai’s ICD has agreed to buy about 46 per cent of Kerzner International, sources say.
Abu Dhabi’s prime properties recorded modest rental growth while rates in most lower end areas remained unchanged.
The conglomerate ran into trouble after Dubai’s 2009 property market crash and had to restructure $25 billion of debt.
HTC’s latest smartphone is priced at Dhs2,750 in the UAE.
The NASDAQ Dubai bourse now hopes to grab some of that business with its own murabaha trading system.
Construction projects worth more than $23 billion were awarded in the UAE last year.
The low-cost airline said all flights to and from Dubai between May 1- July 20 will operate out of Sharjah.
The size of the issue was expanded to $650 million from the originally planned $500 million.
Sami Asad, formerly the CEO of Arabtec’s Construction Group, will now lead the newly created subsidiary, Arabtec Egypt.
The UAE’s National Centre for Meteorology and Seismology has issued warnings about the possibility of sandstorms and landslides.
UAE Exchange estimates that robust economic growth in the UAE will lead to a hike in remittances from the region in 2014.
The Southeast Asian country has been facing political turmoil since November.
The sukuk is expected to launch and price on Wednesday.
The company is boosting annual production in India to almost 800,000 pieces of sanitary ware from 300,000 to meet rising demand.
The company reported that its EBITDA grew 11 per cent to reach Dhs3.3 billion in 2013.
The company has recalled 372 Avalon vehicles, 2003 to 2004 models and 418 Land Cruiser 70 Pick Up, 2012-2014 models.
The Abu Dhabi-listed bank received investment grade ratings from Moody’s and Standard & Poor’s.
Fast-growing airport must keep up with Etihad’s growth ahead of Midfield Terminal Building’s launch
The proceeds will be used for Damac’s general corporate purposes.
Regional club owner expresses concern about the number of new night leisure venues opening in the emirate.