Arabtec will buy 149.6 million shares in Depa, valued roughly at $65.8 million.
The lender is not interested in overseas expansion unlike its rival Kuwait Finance House.
A short-lived recovery marked 2012 as Europe’s debt woes weighed heavily on global markets. Amid the continuing uncertainity, GCC stocks faced a mixed outlook.
The deal provides for the storage of six million oil barrels for the Korean strategic stockpile program.
With $4.4 billion needed to meet its first obligation, there are worries as to where the money will come from.
The local banking sector has ample liquidity and lenders are ready to grow, says Abdul Aziz Al Ghurair.
An employee said the attack was carried out by a mob chanting slogans against the Qatari-owned station.
Few banks will continue to have a global footprint in the future, says Anshu Jain, co-chairman of Deutsche Bank.
Dubai Marina and The Springs come second and third in propertyfinder poll.
Abu Dhabi’s Constantin Salameh chosen for top corporate post.
Lender’s Anshu Jain tells business leaders in Dubai chances of Greece leaving have lessened.
The telecom firm has formed a new alliance with the Californian company to bring faster internet speeds to the Gulf.
Sheikh Mohammed bin Rashid al-Maktoum reduces the number of board members from six to five.
Antonis Samaras will meet with the Gulf state’s emir and prime minister to discuss investing in Greece.
The plane manufacturer expects to increase revenue from defence sales in the region to $4 billion.
Most residents fail to account for accumulated value of possessions over time, and cost of replacing clothing.
Vehicle sales in the UAE and wider region are reaching 2008’s record levels due to jobs, positive sentiment and a rising population.
Tenants said they must sign waiver to go inside building; victims offered hotel apartments for one month.
The deal, mandated by Qatar Islamic Bank, runs for 18 months.
The new Moroccan themed development will be an extension of Emaar’s Arabian Ranches development.
The US Secretary of State has been sent to the region by President Obama to try to halt the crisis.
Burger King, the fast food franchise, plans to open its first restaurant in South Africa early next year.
Dubai’s largest bank is targeting international revenues of around 20 per cent of its total by 2017.
A survey shows 86 per cent of UAE residents do not have contents insurance.
They will be detained for 10 days for questioning, an official has said.
Dubai’s government building department will investigate the fire but only for ‘recording’ purposes.
The chain is planning to spend $40 million a year, targeting the Gulf’s population growth.
Muna Ghanem Al Marri has been appointed as the new director of the Dubai Government’s media office.
The kingdom’s biggest real estate developer is planning to expand its assets abroad.