Experts say that subsidies should be gradually removed to avoid sudden short-term economic shocks.
Mohammed Ali was handed a three-year jail term and ordered to pay fines worth 600,000 rials
Samba attributed the profit rise to an increase in operating income.
The company said more income from data and business clients were the reason for the quarterly and annual profit increases.
Its Q7 model was its best-selling vehicle with a year-on-year rise of 36.8 per cent.
An international donor conference in Kuwait is intended to help the UN reach a $6.5 billion aid target.
Japan Airlines was forced to ground one of its 787 aircraft after detecting smoke outside the plane.
Job openings in the banking, financial services and insurance industry grew 42 per cent year-on-year in December, recording the highest growth among industries in 2013.
Results were boosted by the $38.8 million payout from insurers after the bank was the victim of a major cyber fraud case.
GFH bought Leeds United in December 2012 through its Dubai-based subsidiary, GFH Capital.
The capital of the UAE has designated areas for property investment by foreigners.
Sharia-compliant lenders are growing but non-core assets will become less visible.
Prices start at Dhs10 million and the plots can be used for residential, hotel or commercial development.
Sheikh Mohammed launched the UAE National Agenda for the next seven years on Tuesday.
The bank reported a net profit of 2.4 billion riyals ($659 million) for the final three months of 2013.
Saudi Aramco is set to ship the first cargo of diesel to the Mediterranean for January 23 loading.
The UAE recently introduced mobile number portability (MNP), which allows users to switch operators while retaining their number.
A study shows 73 per cent of them prefer LinkedIn over Facebook or Twitter.
The price of a 25 lbs capacity cylinder has been reduced to Dhs54 from Dhs61.
Executive vice chairman Colm McLoughlin said the company will focus on the new Al Maktoum International airport.
The airline will resume services to Manchester after a seven-year gap and will fly thrice a week.
The government said last November that it would form a special committee to review its sometimes wasteful spending.
The deal provides Sri Lankan domestic workers in the Kingdom the right to retain their travel documents.
Dr Li Xiaojia urges Hong Kong to boost its capabilities before it loses out to other international finance centres.
The project on Al Reem Island will house a five-star hotel and a residential tower, and will be built within three years.
A new malicious Trojan called Neverquest is designed to steals usernames and passwords to online bank accounts, says Kaspersky.
The incident took place in the town of Awamiya on Monday evening.
Several companies are interested in joining the project with revised terms, UAE’s oil minister Suhail bin Mohammed al-Mazroui said.
The British Horseracing Authority (BHA) banned Zarooni for eight years after finding him guilty of administering anabolic steroids.
The order was part of a package of contracts which could be worth a total of $1.4 billion to Drydocks by the third quarter, its chairman said.