Industry
State-owned refiner MRPL said it will halt oil imports from Iran in April if insurance cover is not available for its refineries.
The airport retailer recorded sales of Dhs1.6 billion in the first three months of the year.
The Telecommunications Regulatory Authority was due to auction 12 lots of spectrum primarily for 4G networks from March 31.
Dubai’s second airport will operate five runways and have a capacity of 160 million passengers a year.
Alex Thursby succeeds Michael Tomalin who after 14 years at the helm will remain in a non-executive director’s role.
The Prince has said the Kingdom needs to upgrade its equity markets to international standards while protecting its blue-chip companies from hot international money.
The Kingdom has budgeted to spend a record 820 billion riyals, up 19 per cent from the amount originally planned for 2012.
Oman’s Islamic lenders can hold no more than 40 per cent of their net worth in the form of foreign currency-denominated assets.
The IPO plan is reportedly at an initial stage and it is not clear whether the listing will be in Dubai.
Emirates President Tim Clark highlighted the importance of Dubai as a trading hub at last night’s gala dinner.
A strategic guide for all the development initiatives in the Western Region has been devised under a framework called Al Gharbia 2030.
Sadara Chemical Co will use the returns to fund a $19.3 billion petrochemical complex in the east of the Kingdom.
Commercial Bank of Qatar has hired Morgan Stanley and Bank Of America Merrill Lynch for the issue of a Tier 1 bond.
The number of jobless people in the 17-member union reached 19.07 million in February.
The government is planning to write off the interest on Kuwaiti citizens’ personal bank loans taken out before March 2008.
Qatar plans to boost government spending by 18 per cent to QR210.6 billion in the 2013/14 fiscal year.
The Abu Dhabi carrier will also open a $6.8 million premium lounge this week in Terminal A at Dulles Airport for first and business class passengers
Oman does not expect to spend more than its budgeted amount this year.
The Canadian manufacturer saw revenues and subscribers fall during the three-month period.
The lender chose Abu Dhabi-based Al Hilal Bank, HSBC, Kuwait’s Liquidity Management House and Standard Chartered.
Three large deliveries from Qatar of super-cooled gas over the last week increased stocks of liquefied natural gas to 6,219 GWh.
Some two million of Yemen’s 25 million citizens work abroad, more than half of them in larger and richer neighbour Saudi Arabia.
Economic growth in Qatar is expected to be more than four per cent this year, driven by the non-hydrocarbon sector.
The SAR1.3 billion issue attracted orders worth SAR2.4 billion from institutional investors inside Saudi Arabia.
GFH Capital is bringing in additional investors to develop the English soccer club.
Despite official safety claims, 43 per cent of the UAE’s residents still say they have never taken part in a fire drill, finds new survey by Honeywell.
The Dubai airline’s long-term strategy “embraces opportunity,” states Emirates president Tim Clark.
Saudi oil minister Ali Al-Naimi said that it “remains to be seen” how much demand will increase.
Gulf Capital owns stake in firms such as healthcare chain Techno Scan and water engineering firm Metito Holdings.
The tandem flight is believed to be the first time two commercial A380s have flown together in formation.