Zack Shahin has been convicted of embezzling Dhs30 million along with the three other men.
Individual shareholders and investment funds holding minority stakes in NSGB will have to pay a 10 per cent tax on their gains.
The facility is part of the company’s expansion strategy and is expected to generate over 2,000 jobs in India.
Three more hotels are due to open on site, a five-star property, another four-star hotel and a three-star hotel and apartments.
Kerzner sold its stake in Dubai’s Atlantis resort to state-owned Istithmar World for $250 million.
A joint venture between Taylor Woodrow and Abu Dhabi contractor Fibrex will work on the airport’s expansion.
The emirate’s airport handled 5.1 million passengers in February.
Arabian Radio Network announce the new 24-hour channel in response to growing demand from Filipino nationals.
The Dhs50 million facility was signed by Noor Islamic Bank and Commercial Bank of Dubai.
Abdulaziz al-Sugair will take the helm following the imminent departure of CEO Khaled al-Ghoneim.
Two-way trade between Dubai and Iran was roughly Dhs25 billion last year.
The Omani bank lost a court case in June 2011 against Oman International Bank, Ali Redha Trading and Muttrah Holding.
China holds the first and second biggest initial public offerings ever as Asian and U.S. companies go head-to-head.
Aramco Overseas signed a deal in March 2011 with oil firm PetroChina to build a 200,000 bpd refinery.
The majority of the early newspapers in the region were founded in Saudi Arabia.
Current oil prices will not deter economic growth, says Saudi’s oil minister.
The UAE’s GDP saw a rise of $4.2 billion thanks to a rise in electronic payments. Saudi Arabia’s GDP saw growth of $4.7 billion.
Meetings with fixed income investors are scheduled to conclude in London on Monday, having taken place in the United States last week.
The dollar-denominated deal aims to boost the bank’s supplementary capital.
The Kingdom is reportedly in talks with application operators to ensure that they adhere to regulatory requirements.
People of the UAE “deserve the best,” Sheikh Mohammed said at the first meeting of the country’s new cabinet.
The $200 million investment will build two furnaces with combined output capacity of 33,000 tonnes per annum.
A coalition of seven banks will back the dual-tranche, long-term loan, say sources.
Sponsoring events has become a key tool in company portfolios.
In the Gulf region, the bank will focus on lending opportunities in Saudi Arabia and Qatar, says regional head.
The Dubai-based construction company is building a twin-tower project in South Cairo.
This is the second time that the meeting has been rescheduled.
A mixture of issues including the right type and price of housing, in the right locations, is causing a problem in the Kingdom, says report.
Nearly one out of every two people on the internet now visits the video-sharing website.
FIFA president Sepp Blatter has said that any request to change the timing of the event from summer to cooler months would have to come from Qatar.