Industry
Starwood leaders upbeat after meeting 50 owners across 12 countries during month-long HQ relocation.
Oil prices have averaged about $110 per barrel this year.
Thousands of Yemeni labourers face deportation following new Saudi regulations that require expats to work only for their sponsors.
The precious metal fell as far as $1,541.14 an ounce, its lowest since May.
The operator, which has yet to make a quarterly profit since launching services in 2008, last week extended a $2.4 billion Islamic loan to April 30.
Ian Larkin of Lloyds will replace Graham Honeybill, who will become a non-executive director.
IILM faced a major challenge to ensure compliance with laws in all of the 12 member countries situated across Asia and the Middle East.
The three-year revolving credit facility attracted a total of 19 international lenders and replaces a $2.5 billion loan agreed in 2010.
Pricing came at the tight end of initial price guidance of 170-190 bps, indicating that demand for the transaction was strong.
With $16 million sales per day, is Dubai Duty Free’s success about being in the right place at the right time or a shrewd business strategy?
The UAE withdrew its visa waiver for Canadian citizens more than two years ago amid a dispute over landing rights.
The Swedish burger chain recently opened its first store outside Scandinavia in Dubai.
The plan will mean banks have to pay back any overcharged interest to citizens.
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