Tasweeq will cut exports to 350,000 barrels per day (bpd) from the current levels of 500,000 bpd.
Consumers are mainly upbeat about future job prospects, the Nielson survey found.
The airline’s chief executive said that flynas would now focus on expanding its short-haul services, and might look at a different model for long-haul flights at a later date.
Sheikh Tamim’s first official visit to Britain since becoming emir in 2013 will include talks with Prime Minister David Cameron and a meeting with Queen Elizabeth.
The group is is in advanced talks to set up a university and a school as part of its strategy in expanding into education and healthcare sectors.
Banks in the UAE must change their approach in luring and maintaining wealthy customers, according to Simon-Kucher’s Dr. Jan Engelke and Matthew Jackson.
The agreement includes setting up Real museums and expanding their soccer schools around the world, as well as creating content for digital media platforms, IPIC said.
The Drive at AKOYA will be extended to 2.5 kilometres from its initial length of 1.3 kilometres due to demand, the luxury property developer said.
The reported move appeared to be the result of a court case brought by the government in July against the organisation, arguing it had broken the law and its own statutes.
Sheikh Sabah al-Ahmed al-Sabah also urged the parliament and the government to issue legislation to protect the country’s national wealth and safeguard it for future generations.
Globalpharma will produce anti-infective, cardiovascular and gastrointestinal drugs for the Middle Eastern market, following its acquisition by Sanofi.
Platinum Residences, in Dubai Silicon Oasis, will comprise of two towers, featuring 200 apartments and will be completed by April 2015.
NBAD made a net profit of Dhs1.37 billion ($373 million) in the three months to Sept. 30.
Last Wedesday, the riyal tumbled unusually far beyond its peg of 3.75 against the U.S. dollar in the spot market, to as low as 3.7530.
The Abu Dhabi Macy’s will span about 205,000 square foot while the new Bloomingdale’s, the UAE’s second, will be spread across 230,000 square foot.
The Sultanate introduced Islamic finance at the end of 2012, becoming the last country in the six-nation Gulf Cooperation Council to do so.
The project which includes 1,920 residential units for Adnoc staff in Ruwais is scheduled for completion in two years.
The company has picked Dubai Islamic Bank, Emirates NBD, Noor Bank and Standard Chartered for the sukuk sale, according to the document.
Zain Saudi made a net loss of SAR316 million ($84.23 million) in the three months to Sept. 30.
The developer made a net profit of QAR673.4 million ($184.93 million) in the nine months to Sept. 30
Airline won’t be able to compete with Emirates on scheduling but will on price
The Health Ministry has announced a total of 23 confirmed new cases this month of the virus.
Consolidated volumes, at terminals over which DP World has control, rose 8.8 per cent to 7.3 million TEU.
The firm made a net profit of Dhs558.7 million ($152.11 million) in the three months to Sept. 30.
The company made a net profit of SAR89.9 million ($24.0 million) in the three months to Sept. 30.
New route enhances Hungarian capital’s connectivity to eastern markets
The projects will be built over five years and will include 10 million square feet of space for innovation complexes, technology laboratories and smart buildings.
The three lawyers were convicted of prejudicing public order through tweets which contained opinions against the ruler, and expressed contempt for the judiciary, SPA reported.
The company made a net profit of SAR3.37 billion ($898 million) in the three months to Sept. 30.
Wasit will be one of the largest gas plants not linked to oil wells ever built by Saudi Aramco.