Doha-based Mannai is planning to buy 58.8 percent of Damas in a deal estimated to be worth around $445 million.
Abu Dhabi’s Dolphin Energy will use the proceeds to meet its refinancing needs.
Dubai Gold and Commodities Exchange saw volumes increasing 95 per cent year-on -year in January.
The airline is planning an Islamic loan facility to fund two of its planes, according to reports.
The Abu Dhabi lender’s profits fell 19.2 per cent to Dhs135 million during the fourth quarter of 2011.
According to Ernst &Young, deal values in 2011 dropped by 28 per cent year-on-year to reach $31.7 billion.
Markets were subdued even as Greece delayed its decision regarding a new bailout.
Prince Alwaleed, Citigroup’s biggest individual shareholder, said that he expects the bank to increase dividends this year.
Exclusive: The founder of Kingdom Holding Company on plans, power and profits.
The move follows the stringent financial and trading sanctions imposed by the US and EU on Iran.
The UAE’s central bank is reportedly planning to limit credit card interest rate at 18 per cent annually.
According to the IMF, Qatar’s economy is expected to grow six per cent in 2012.
The mall operator is undertaking several new projects across the Middle East this year.
The Kuwaiti bank reported a net profit of KD302.4 million in 2011 compared to KD301.7 million in 2010.
According to the country’s Economy Minister, the Arab Spring has spurred growth in the UAE.
Qatar’s sovereign wealth fund is expected to acquire the property in a “few weeks.”
More than one in two institutional investors see Africa as an attractive region to invest in over the next decade.
The country’s first trade deficit since 1980 raises questions how Japan will finance its huge public debt.
The move will make the bourse the second publicly traded stock exchange in the region.
Saudi Arabia almost doubles income forecast, announcing a budget surplus of $81.6 billion for 2011.
The value of shares traded reached its lowest level since 2004.
As the UAE climbs into steady recovery, is it any easier for small businesses to access bank lending?
Obama’s intrusive regulations are simply too much trouble.
The region’s deepest insecurities have once again been exposed by another crisis to emerge from the US and eurozone economies.
After years of pressure, Islamic scholars in the Gulf are finally modernising their operations, much to the delight of Western financial organisations
The richest place in the world, the region’s most peaceful country, and winner of the World Cup bid, the stars have never been more aligned for the tiny Gulf state.
Low liquidity and weak confidence continue to dampen the Gulf’s IPO pipeline. Stringent local market guidelines must be relaxed to improve cashflow.
As the global economy reels from fresh Euro and US woes, the gold price is set for a dizzying ascent.
Middle East kids are some of the highest spenders in the world, with a growing appetite for branded gadgets.
The region welcomes its first non-executive director ‘match-making’ service as it strengthens corporate governance regulation.
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