The UAE’s federal budget deficit reportedly rose to Dhs2.8 billion in January-June, above the government’s original forecast.
The three islands situated on the Strait of Hormuz are causing disagreement over who owns them.
The chairman and CEO of GE says that the power of emerging markets will continue.
Brent crude has fallen from a high for the year of $128 a barrel in March to $112.
GE CEO Jeff Immelt says the firm will cut jobs globally but inject $1 billion into Saudi Arabia.
The central bank introduced caps for loans made to local governments and their entities in April this year.
Dubai and Australia’s flagship airlines are waiting on the results of a competition watchdog’s ruling ahead of their planned alliance.
The Kuwaiti telecoms operator is looking for funding to help boost network capabilities and improve its current services.
NBAD is looking to reap 10 per cent of its operating income from Islamic banking by 2020, up from three per cent currently.
Kingdom Holding sold the plot in Riyadh for $66.6 million.
Firms are eyeing REITs, which are transforming the speculative property market into a stable source of revenue.
The dairy producer’s third quarter revenue rose 27 per cent to SAR2.7 billion.
Abu Dhabi’s flagship airline is looking at more minority stakes to further expand its global reach, says CEO.
The airport retailer saw sales increase 10 per cent year-on-year during the first nine months of 2012.
Qatar’s indicator for sector performance in the region reports a 15 per cent rise in net profit for first nine months of the year.
The proceeds will be used to refinance existing debts, said sources.
The assets being sold include land in Qatar and the Barwa New Cairo project in Egypt.
Passenger revenues were boosted by code sharing and partnerships.
His Highness Sheikh Mohammed bin Rashid Al Maktoum has given the green light on the $411 million Business Bay project.
While Hong Kong leads the list, the UAE features among the top fifteen countries, according to UN statistics.
Canon is hiring in the Middle East as it expands its presence in the region, says Anurag Agarwal, the company’s regional managing director.
The IMF said its base scenario envisaged a fiscal deficit of 0.6 per cent of GDP by 2016.
The Qatari telecoms operator is to own almost all of Kuwait’s Wataniya network as Kuwait Investment Authority sell up.
The Dubai developer will build multiple housing projects in the country, possibly alongside Damac.
UK-based Barclays quit the panel in July.
Property developers not complying with the laws and rules set by Dubai’s RERA should face strict penalty, says Khalid Al Malik, DPG’s group CEO.
The move is expected to boost Kuwait’s banking sector.
Developers are upbeat about recovery in Dubai’s property market.
Gulf Business brings you all the news from Dubai’s main property event.
The property investment firm is eyeing offices in Oman and Qatar after the region accounts for 18 per cent of London’s purchases.