Industry
The deficit was lower than the BD1.33 billion initially foreseen and is equivalent to two per cent of GDP.
The move was part of an acquisition of BP assets in the North Sea agreed in 2011.
The Saudi company sold its stake to Hawaii-based Outrigger Hotels and Resorts.
The project will allow both countries to share power of up to 3,000 megawatts.
Emirates National Oil Co (ENOC) has cut the retail price to Dhs3.50 a litre.
Qatar and the UAE feature on the list of the world’s richest nations as measured by GDP per capita.
Depositors anywhere could have their money stolen at some point. Do you want to find yourself in that position?
We now know why but need to determine how, says Hannes Reinisch, senior manager for renewable energy and sustainability, PwC.
Has Dubai learned its lesson from the property slump that saw prices drop almost 60 per cent five years ago?
Triple digit oil has encouraged development of U.S. shale oil in North Dakota and Texas, some of which is the most costly in the world.
High-rise property in West Bay will further stoke competition in the city’s hospitality sector
Regional firm KEO International has been appointed project manager and LA-based Aecom Technology Corp was named as design consultant.
The lender has received regulatory approval to buy a 25 per cent stake in Malta’s Fimbank.
The nation moved up eight spots on IMD’s annual world competitiveness ranking.
Extra flights to Amman, Cairo, Islamabad and Muscat this summer are designed to improve network-wide connectivity.
The senior, unsecured notes priced at a profit rate of 1.535 per cent, arranging banks said.
Lloyds also said on Wednesday that it would close its business in Dubai and intended to withdraw from South Africa.
The UAE’s currency, the dirham, is currently printed overseas in countries such as the UK and France.
At least four other policemen were less seriously hurt in the attack in Bani Jamra village.
The non-OPEC oil exporter’s only previous international bond was a $225 million Eurobond sold in March 1997.
Warner Bros licenses regional operator to market the themed fragrances in the Middle East.
The new four-year deal promotes the Dubai-based carrier to main shirt sponsor of the club from the 2013/14 season.
The 37-year-old Emirati was last month found guilty of administering anabolic steroids to 15 horses in the Godolphin stable.
The MasterCard Cities Index report showed the UAE’s capital has a growth rate of 16.1 per cent in relation to visitor numbers.
The Saudi dairy firm will distribute bonus shares in a move approved by its shareholders.
The International Monetary Fund forecasted Saudi Arabia’s GDP growth at 4.4 per cent, down from 6.8 per cent in 2012.
Canadian Foreign Affairs Minister John Baird confirmed the news in Ottawa.
Earlier this year the kingdom began to crack down on the many foreign workers who violated their visa terms.
The work is due to be completed within three years at the refinery.
Penney, who resigned from RBS in March, will join First Gulf Bank as head of its expanding wholesale banking division.