Licences for new banks will be given according to criteria set out by the central bank, a statement said
Qatari officials have announced plans to spend around $200bn on infrastructure projects over the next decade or so
The joint venture, called ICON Arabia, is planning to bring 15 new food and beverage brands to the region
The agreement is aimed at generating new business opportunities in the GCC and India
Automotive and retail sectors saw the highest growth in salaries so far this year, a new survey showed
The increase in foreign ownership from the present level of up to 75 per cent for retail businesses comes after tumbling oil prices have slashed government revenues
The UAE’s economic diversification, smart city vision and political stability have all helped fuel the job market, says analyst
Ibrahim Alassaf said the kingdom was well-prepared to cope with the plunge of crude prices
Public spending in the Gulf state is expected to remain strong thanks to big buffers
The decision meant GFH could focus trading on its home and the main secondary market for its shares, Dubai
During the global credit crisis of 2009-10, UAE banks were hobbled by their links to heavily indebted companies that were wholly or partly owned by governments of the seven emirates in the UAE
The Atlas default affects at least 15 banks, but sources say that reaching a deal would be tricky unless creditors can meet its founder, who remains in police custody
Dubai’s financial freezone is looking to Indian and other Asian markets to fuel its growth over the next 10 years
S&P said historical data suggested there was a clear link between non-performing loans and oil prices
The deal is the latest divestment by the Dubai government-owned group to repay its debts
The syndicate for the dual Islamic and conventional facility is backed by a mixture of local and Chinese banks
Gross domestic product, adjusted for inflation, expanded 3.8 per cent from a year earlier in the second quarter, accelerating from a revised 2.3 per cent in the first quarter
The country is looking to impose indirect taxes such as road tolls and paid parking metres to compensate for low oil revenues
Saudi’s market suffered the most from panic selling in the Gulf and is still down 12.8 per cent month-to-date
The Bahrain-based investment fund posted a 13 per cent increase in net income for the 12 months to June 30
The plunge of oil prices since mid-2014 has put heavy pressure on Oman’s state budget, causing one-year dollar/rial forwards to rise as high as 1,000 points this week
DP World’s revenue for the six months to June 30 was $1.90bn, up from $1.66bn a year earlier
NMC made an adjusted net profit of $46.9m in the first six months of this year up from $40.9m a year earlier
The kingdom is expected to achieve economic growth in 2015 of 3 per cent
The company did not disclose the size of the stake that was sold or the value of the deal
Qatar is working more closely with trade houses who are focused on short-term deals, often in riskier markets, while also lowering its price expectations
Goldman Sachs reduced its short-term outlook for the equity market to “neutral”, but remained “overweight” over six and 12 months
Deputy chief executive Promoth Manghat has been promoted to chief executive, the Abu Dhabi-based company said
Up to 67 per cent of apartment buildings and 50 per cent of villas in Dubai are uninsured, says survey by MoveSouq.com and RSA