Salah Nooruddin will join GFH’s board of directors following the stake acquisition.
The operator made a net profit of 53 million dinars in Q3 compared with a net profit of 59.7 million in the year-earlier period.
The Emirates Group announced figures of Dhs2.2 billion net profit for the first six months of its fiscal year.
Abu Dhabi’s stocks dropped by 0.9 per cent on Monday but Dubai fell 2.8 per cent.
The social media company’s share price soared in last week’s New York Stock Exchange debut after a $1.8 billion initial public offer.
The terminal will be able to supply the UAE with around 1.2 billion cubic feet (bcf) per day of gas.
The carrier made a net profit of Dhs206 million in the third quarter, compared with Dhs226 million in the corresponding period in 2012.
As the international aviation industry expands, will there be enough trained pilots to fly the planes?
Vast majority of staff at Abu Dhabi’s Barakah facility set to be nationals.
Qatar’s high business optimism rates show that economic diversification is gaining pace.
The carrier is also finalising a deal with Boeing, with one or both deals set to be announced at next week’s Dubai Airshow.
The bank made Dhs1.2 billion in the nine months to September 30 up from Dhs899 million in the corresponding period last year.
Repeat holidaymakers and executives can now buy a slice of Penthouse luxury living.
Amiri, who quit just seven months ago, replaces Mohammad Zaqout who was fired in October.
Gulf countries are seeing a steep energy demand owing to a growing population and subsidised resources.
Kingdom Holding bought a three per cent stake in the micro-blogging site in 2011 for $300 million.
The project will allow the UAE to preserve its natural gas for domestic electricity generation.
Over 80 per cent of the Gulf’s wheat comes through the Suez Canal and 80 per cent of its rice supply through the Strait of Hormuz.
Kuwaiti ministers have warned that state expenditures will exceed oil revenues within a few years if spending keeps rising at the current rate.
Is India set to loosen its protectionism over the national airline sector? It’s about time it did.
London Mayor Boris Johnson hopes to attract greater Kuwaiti investments to the UK.
Shari’a complaint pension funds are on the rise as people switch from conventional to Islamic banking.
Logistics firm Tristar is aiming to rev up its oil tanker ship supply owing to a revival in demand in the Middle East market.
Mohammed bin Hamad Al Rumhy said a signal needs to be sent to ‘the pockets of the public’.
Emad Mansour was recently the chief executive of Doha-based Qatar First Bank.
The sale of the stake in Noordgastransport B.V. (NGT) to pension fund PensionDanmark A/S is expected to close in 2013.
The service costs an additional €10 per flight on services to Kiev, Sofia, Budapest and Bucharest.
OPEC expects global demand for its crude to fall in the next five years because of increasing supplies outside the 12-member group.
Rising international demand for infrastructure and investment project financing is likely to stimulate growth in the UAE, Qatar and Saudi Arabia.
Sepp Blatter also ruled out holding the Qatar tournament in January-February out of respect for the Winter Olympics.