The Gulf state is aiming to provide a much needed boost to support Egypt’s declining economy.
The Kingdom’s Foreign Minister Prince Saud al-Faisal had a minor operation to relieve an intestinal obstruction, the royal court has said.
The Kingdom reportedly reduced oil output by 300,000 barrels per day from June.
The Abu Dhabi-based district cooling utility company appointed Jasim Thabet as its new chief executive officer.
The Abu Dhabi developer reported a net profit of $113.8 million in the second quarter of the year.
Qatar Airways has entered an interline agreement with Canada’s short-haul carrier, Porter Airlines.
The petrochemicals firm posted a net profit of QR2.14 billion in the second quarter of the year.
Amid growing investor concern about the Eurozone, Riad Meliti, CEO, Arqaam Capital, remains firmly bullish.
Rising administrative and contract costs lead the construction company to post a loss during the second quarter of the year.
Next generation iPhones and iPads will no longer have Google’s YouTube app pre-installed in the software.
The Kingdom boosted spending to a record SAR804 billion in 2011, 23 per cent higher than in 2010.
New York’s top bank regulator has threatened to revoke the bank’s state licence over alleged Iran ties.
The Qatari sovereign wealth fund currently owns around 12 per cent of Qatar Insurance.
The Kingdom’s cabinet has given a licence to the Industrial and Commercial Bank of China (ICBC) to open one branch in Saudi.
The UAE’s largest low-cost airline saw gains from under-served routes last quarter.
DIFC may no longer provide a gateway to the UAE financial market.
New York’s top bank regulator has accused the UK-based bank of hiding $250 billion in transactions tied to Iran.
The Saudi team, which included royal family member Prince Abdullah al Saud, lost out to Britain and Netherlands in the team show jumping final.
The telecoms operator reported a net profit of around $251.58 million in the second quarter of the year.
The capital raised will be used to fund credit growth and the lender’s upcoming venture into Islamic finance.
Total bank deposits in the country fell from Dhs1.125 trillion in May to Dhs1.107 trillion at the end of June.
The Kingdom is in gold medal position as it enters the last round of the team show jumping final on Monday.
The Gulf state’s surplus for 2011/2012 was boosted by increased oil income and lower spending.
Where in Dubai should you rent or buy? What will it cost you? And is it even worth it? Read what Meghna Pant, features editor of Gulf Business has to say.
Jones Lang LaSalle and Mace will support the development of the proposed site for the 2020 World Expo in Dubai.
Saudi’s transport system may be overhauled with 30,000 monitored taxis.
The Qatari property developer made a net profit of around $163 million in the first six months of the year.
DFM’s net profit fell to Dhs10.2 million during the second quarter of the year, as revenues reduced.
Chugani set up the Middle East, India and Africa Giordano network
Carriers in the region saw passenger demand increase by over 18 per cent year-on-year in June, says IATA.