India, the world’s fourth largest oil consumer, imports about 80 per cent of its oil needs.
The cash raised is expected to be used for general business purposes.
A bourse filing by KIPCO added that its direct and indirect stake in Kuwait’s Burgan Bank currently stands at 57.94 per cent.
The project will be financed 40 per cent equity and 60 percent debt, the company said.
Rocket Internet group and Sweden’s Kinnevik are combining five international fashion e-commerce firms including Dafiti, Jabong, Lamoda, Namshi and Zalora.
The unit, TECOM Investments, is expected to use the proceeds for its growth plans, while some of the cash would also be diverted to its parent company.
The UAE’s foreign ministry called for cooperation and coordination against what it called the global scourge of terrorism, especially in Iraq and Syria.
Globally, passenger traffic demand was up 5.3 per cent in July compared to the same period last year, IATA said.
The manufacturer has announced two additions to its premium smartphone range, one to its mid-range, a new tablet and two new wearables.
The court said charges ranged from “the establishment of a terrorist cell planning to targeting oil pipelines,” having weapons, and planning attacks and at home and in Bahrain.
The Briton was in a women-only checkout aisle at a supermarket in Saudi Arabia when the officers approached him.
A round-up of five key features that Apple’s new smartphone – launching next week – is expected to have.
The new Galaxy Note 4 features a crisper, 5.7-inch display in a metal frame.
Islamic State released a video on Tuesday showing the beheading of journalist Steven Sotloff, the second American hostage to be killed within weeks.
The lagoon, to be built by Crystal Lagoons, will be situated at the centre of a 240-hectare mixed project being developed by the Prince Sultan Cultural Centre.
Creditors of the company approved a plan to restructure debts worth around $2.7 billion last month.
The growing number of moviegoers in the UAE has driven the rise in cinema ad spending.
IS released a video on Tuesday showing the beheading of American hostage Steven Sotloff, and issued a threat against a British hostage.
The issuance would be in local currency and would apparently be separate from an international, U.S. dollar-denominated sovereign bond issue which Oman has said it may conduct.
The TRA has issued a brief statement saying only Etisalat and du are licensed to provide VoIP services in the country.
Prior to joining ADIA, Brian Tipple held the position of chief investment officer at U.S.-based Key Private Bank.
The new expansion project, which will begin later this year, will see the introduction of 60 new shopping and dining options.
The UAE was named the most competitive country in the Middle East and North Africa region while Qatar and Saudi Arabia fell in their rankings, a report from the World Economic Forum shows.
The seasonally adjusted SABB HSBC Saudi Arabia Purchasing Managers Index rose to 60.7 points last month – the highest level since July 2011.
The HSBC UAE Purchasing Managers’ Index climbed to 58.4 points in August from 58.0 in July and the highest since the series began in August 2009.
Waha Capital will use the money from the deal to repay debt and fund new investments, the company said in a statement.
Emaar plans to float at least 15 per cent of its shopping malls and retailing unit on Dubai’s main stock market and will list the shares in October.
In the wake of a security breach, cybersecurity experts and mobile developers have called out inadequacies in Apple’s and, more generally, cloud-services security.
Steven Sotloff, a 31-year-old freelance journalist from Florida, was kidnapped in Syria in August 2013 and is believed to have been beheaded by Islamic State militants.
Etihad clinched a deal last month to buy 49 per cent of lossmaking Alitalia for 1.76 billion euros.