CITIC, partly owned by China’s sovereign wealth fund, did not give financial details of the investment.
New ratio demand leaves the commodity giant at a loss as potential mining deal looks close to collapse.
The Indian carrier will also resume services to Kuwait and Bahrain from Kochi in its winter schedule.
The Abu Dhabi-based carrier bought over $10 million worth of Virgin shares to raise its stake from 5.1 per cent last month.
Investors are optimistic that the European Central Bank will take action to ease Spanish and Italian borrowing costs.
Despite fears of a China slowdown, long term urbanisation will spell growth, says Chris Tedder, research analyst at FOREX.com
Fears of a Euro lending shortage appear overblown as local banks grow their loan books.
New consumer confidence survey reveals there are few jobs currently available in the country.
The Qatari-owned investment company increases its luxury goods portfolio with British fashion brand.
The biggest hikes were recorded in the prices of fish, vegetables and meat, according to official statistics.
With a market capitalisation of around $623 billion, the tech giant is now the world’s most valuable public firm.
Brent crude prices are rising on supply concerns stemming from Middle East tensions and maintenance issues in the North Sea.
The false records cases could be easier to prove than money-laundering.
An expected stimulus from the US Federal Reserve, instability in the Middle East and a fall in North Sea output are all spurring oil prices.
With the GCC expected to spend $79 billion in the next 10 years on railways, metro and tram projects, this development is being heralded as a transport revolution.
Banks in the region are benefiting from high profit margins and government support, says new report.
Abdel Shoman, chairman of Jordan-based Arab Bank, reportedly resigned after a disagreement with key shareholders.
The UAE Central Bank has told lenders to reschedule citizens’ loans by more than 48 months.
RAK Airport sees influx of European and Russian tourists.
Qatar inflation rose to its highest level so far this year in July, driven by furniture, textiles and home appliances.
Hikma Pharmaceuticals delivers a strong first half performance in 2012.
Qatar Telecom has received approval from Kuwait’s Capital Markets Authority to buy a stake in Wataniya for $2.2 billion.
Bahrain’s flag carrier will restart routes into both countries from next month.
Regional dairy producer is approaching the international market and commencing production of camel milk products.
The UAE, Saudi Arabia and Qatar have all told their residents to leave the country amid threats of kidnappings.
The Egyptian investment bank posted a net profit of $4.4 million as revenues from its brokerage operations declined.
A Malaysia-based association of Islamic scholars is planning to develop a global code of ethics to improve standards in the industry.
Asteco partners with real estate auction website to provide new solution for UAE property owners.
The contracts have been awarded to six international companies including Rio Tinto and France’s Areva.
The contracting company said that higher finance costs for acquisition and contracts provisioning led to the fall in profit.