The portfolio, which comprises loans to SMEs in the UAE, will strengthen the bank’s position in the sector.
The firm’s operating profit fell 96 per cent partly due to reforms in Saudi Arabia’s labour market.
The company made a profit of 423 million riyals in the first three months of 2014, up from 295 million riyals in the year-earlier period.
The developer has appointed AE7 for design, supervision, architectural and engineering services.
SABIC made a net profit of 6.44 billion riyals ($1.72 billion) between January and March compared to 6.56 billion riyals a year earlier.
The bank made a profit of $26.75 million in the first three months of 2014, according to a statement in Oman bourse.
Net profit rose to 26.06 million dinars in the first three months of 2014 from 23 million dinars in the same period a year ago.
The ministry said on its Twitter account the explosion was in the mostly Shi’ite village of al-Maqshaa’, outside of the capital Manama.
This is the latest step to widen foreign access to Chinese capital markets.
GCC foreign ministers met in Riyadh for a comprehensive review of measures used to implement foreign and security policies.
As the UAE and Saudi race to build nuclear reactors to meet mounting energy needs, the inevitable question arises – is nuclear a viable option?
The study found that the majority of parents in the UAE were financially ill prepared for their children’s education.
The Abu Dhabi-based Etihad has been looking at Alitalia’s books for a possible investment since the start of the year.
The 80-day renovation programme at the airport will begin on May 1.
Dozens of local men were found demonstrating in front of the court against social reforms in the Kingdom.
Kizad said that around 83 per cent of the logistics park has been pre-leased to a number of local and international firms.
Mubadala, which has stakes in GE and private equity firm Carlyle, saw net profit tripling over the last year.
Rising volumes of cash transactions and off–plan sales could inflate prices to 2008 levels, an expert has said.
The property developer said the net profit hike was mainly due to increased sales of developed properties at higher gross margins.
The firm estimated financial loss due to the outage to amount to around SAR214 million.
The figure is slightly higher than the SAR1.60 per share that the firm paid in the corresponding period of 2013
The new charge, varying between Dhs7 and Dhs20, was introduced on March 31 and is applicable per room per night across hotels in Dubai.
The deal, estimated to be worth $5 billion, would be the largest banking transaction in the region for the past 20 years.
Waleed Abu al-Khair has been charged with breaking allegiance to King Abdullah, disrespecting authorities and inciting public opinion.
The average “cost per click” declined nine per cent, as mobile advertising make up a bigger slice of its business.
The bank made a net profit of $92 million in the opening three months of 2014.
Residential rental growth is expected to continue until there is adequate supply in the market.
TAQA has invested in Bergermeer storage facility alongside Dutch energy company EBN.
The deal is due to be completed in the second half of 2014, a statement said.
Luxury Hong Kong-based hotel company makes its first foray into the Middle East and chooses Dubai as the first resort in its global collection.