The Louvre museum in the emirate is due to be completed in 2015.
Capivest, Elaf Bank and Capital Management House have merged after more than a year of negotiations.
The proceeds will be used to settle trade creditor claims against the Dubai developer.
The emirate’s real estate sector edged backed to life in 2012.
Apartment rents in Dubai rose seven per cent year-on-year, while villa rents increased six per cent year-on-year in 2012, says new report.
It marks the airline’s fifth route in Saudi, alongside Riyadh, Jeddah, Medina and Dammam
The German airline, in which Etihad has a 29 per cent stake, will now be headed by strategy chief Wolfgang Prock-Schauer.
Gulf Air cited “commercial reasons” for the decision, which will place the carrier under renewed scrutiny.
The investment firm is currently in the midst of a Chapter 11 bankruptcy process.
Well-known hotel sports ‘chic new look’ and aims to serve as a contemporary city escape for business and leisure travellers
A fifth daily non-stop service is being introduced between Dubai and Bangkok, swelling services to 35 flights a week from March 31.
Oil prices in 2013 are expected to be similar to prices in 2012, says UAE energy minister Mohammed Dhaen Al Hamli.
The precious metal had dropped to a more than four-month low of $1,625.79 on Friday.
A UAE central bank circular issued last week said mortgage loans for foreigners should not exceed 50 per cent of the property value.
Workers in Saudi Arabia are expected to see the biggest salary hikes in the region at six per cent, says new study.
The passenger complex at the new Dubai World Central Al Maktoum International Airport could open as soon as Q1 2013.
Egypt is holing negotiations with the International Monetary Fund to get a $4.8 billion loan.
Alba received a five-year $85 million loan from Bahrain’s Gulf International Bank and a three-year loan from a group of banks.
As Tata Communications continues investing in the region, Radwan Moussalli, managing director – MENA, Tata Communications reveals the impact of network outages on Middle East companies.
Turkey is planning to build an LNG terminal on the Gulf of Saros to meet increasing demand.
A new Carrefour hypermarket and a 14-screen Vox Cinemas multiplex are part of the mall’s renovation plan.
The Dubai-based lender already owns a 58.2 per cent stake in Tamweel.
Kuwait’s gridlocked political situation is stymying its banking sector.
Oman’s economy and its banking sector are performing well.
A total of 121 journalists were killed last year, says international journalists’ group.
Abu Dhabi-based Etihad could pay up to $330 million for a 24 per cent stake in Jet Airways, says source.
The project, located in Turkey’s Afsin-Elbistan region, is expected to start production in 2018.
A three-class Boeing B777-300ER will be deployed from February, providing more seats and cargo space
More than one-in-five deaths occurred in the city of Homs, says UN-commissioned study.
Africa’s vast lands, fast economic growth and a sense of political stability are all attracting regional investors.