The UAE oil production was reportedly at full capacity because of the rising demand.
Dubai International Capital, the private equity arm of Dubai Holding, has reached a final agreement with creditors for restructuring its debt.
The UAE and Qatar also ranked high for their IT technologies on the global index compiled by the World Economic Forum and INSEAD.
The Arab Spring ignited the Gulf’s online passion and participation. And now, there’s no turning back.
The Kingdom also slashed its crude prices for Europe, as oil demand weakens.
The Bahraini telecoms operator hopes that new acquisitions will bring in revenues to compensate domestic losses.
The daily deals website has been facing increasing criticism from customers and investors across the world.
The Gulf’s love affair with malls is far from over, but e-shops are making headway, writes Ryan Harrison.
Only one creditor has not yet accepted the $2.2 billion debt restructuring plan proposed by the Dubai-based shipbuilding unit.
The British defence contractor said that it had signed a contract to build 48 Typhoon aircraft for the Saudi Arabian air force.
Saudi Arabia’s Islamic Development Bank and Dallah Albaraka Group have signed an agreement with Qatar to set up the new bank.
A Kuwait man accused of insulting the Prophet Mohammad on Twitter has said that his account was hacked.
The strong performance of regional airlines in February this year, suggests that the region has now “fully recovered,” said IATA.
The opening up of the Kingdom’s stock market to foreigners will be gradual, Saudi Arabia’s capital market regulator has said.
According to a new survey, 63 per cent of employees in the UAE expect a wage hike in the next 12 months.
While regional banks are reporting good growth rates, customer service has to improve, warns a new study.
The Abu Dhabi -based carrier recorded a 28 per cent year-on-year rise in revenues during the first quarter of this year.
The airline is struggling with rising fuel costs and increasing competition in the region.
Korea Electric Power Corp, which is already building four nuclear power plants in the UAE, will begin talks to construct four more in the country.
In between climbing mountains and running his eco-friendly travel company, Omar Samra has a chat with Aarti Nagraj.
The move is expected to force all the creditors of the Dubai-based shipbuilding unit to agree to its $2.2 billion debt-restructuring plan.
RED, Abraaj’s small and mid-cap investment platform, has invested $20 million in the region so far this year.
Update: The Kuwaiti developer’s shares have now resumed trading on Dubai Financial Market.
The companies, which failed to report earnings on time, join 12 other firms suspended earlier this year.
Saudi Electricity Company will use the amount, loaned by a group of international banks, to build a power plant in Rabigh.
Strata, Abu Dhabi’s aerospace parts manufacturer has become a worldwide name in just two years.
The acquisition includes the retail, commercial and corporate banking businesses of Lloyds in the country.
The oil supply from the OPEC nations in March this year increased to its highest level since October 2008.
The Kuwait telco also said it would back a subscription by its Saudi affiliate.
The GCC is among the least economically integrated regions in the world. But that is changing.