The investment will boost the amount of funding for renewable energy projects to help meet growing power demand in the MENA region, IFC said.
Emaar, the emirate’s largest listed developer, which surged 8.8 per cent to Dhs11.15, its highest close since March 2008.
Nick Peel joins the start-up firm having previously worked at British retailer McArthurGlen as well as soccer clubs Arsenal and Rangers.
The first shipment is expected to be sent next week, an official said.
Rashid Abdulla stepped down after 40 years with the company.
The project will connect 17 locations with the main transmission lines to increase water flow and ensure reliable supply.
The project consists of three towers, out of which two are residential buildings while the other will comprise of hotel apartments, the developer said.
Dubai International cut back flights by about 26 per cent for 80 days from May 1 as both its runways were upgraded.
The mobile operator did not say when it would join the bourse.
Occupancy rates across Abu Dhabi hotels also rose three per cent year-on-year in July while revenues grew by 14 per cent, official figures show.
Chinnakannan Sivasankaran, the chairman of Chennai-based Siva, filed for bankruptcy in the Seychelles after a British court in June ordered him to pay the money to Batelco’s subsidiary BMIC.
Called ‘One at Palm Jumeirah’, the luxury project will be designed by international architects.
Sipchem said in a bourse filing that the shutdown of the International Diol Co plant had started on August 29 and would last four weeks.
Located on the Samoan island of Upolu, the 550KW project was funded by UAE-Pacific Partnership Fund.
Fahad Abdulla al-Khalifa has previously worked at Qatari institutions including Qatar National Bank and the Qatar central bank.
Emaar’s shares rose 5.4 per cent to Dhs10.80 today, bringing their year-to-date gains to 56 per cent.
King Abdullah warned that terrorism could spread to the West if strong action is not taken against the growing threat posed by militants in the Middle East.
Emaar, Dubai’s largest real estate developer, will offer 30 per cent of the shares to individual investors and 70 per cent to qualified institutional investors.
Fund managers still see pockets of opportunity in Saudi due to the market’s liquidity and diversity.
Charges against the detained rights activist Maryam al-Khawaja include insulting Bahrain’s king, and assaulting a policewoman at the airport, her mother said.
Kuwaiti Foreign Minister Sheikh Sabah Khaled al-Sabah said that Saturday’s meeting had led to limited progress but he did not announce any concrete step to end the rift.
Global health watchdog WHO says that the virus could spread to 10 other countries beyond the four now affected.
Apple is expected to reveal the latest line of its best-selling smartphones and its much anticipated smartwatch at an event on September 9.
Bahrain last sold a sovereign bond in July 2013, when it completed a $1.5 billion deal with a ten-year lifespan.
The Kingdom’s preferred Sunni allies have lost out to militants, and Riyadh faces its nightmare scenario of watching two key Arab states become proxies for its rival Tehran or perpetual failed states.
Libya’s oil production rose significantly during the last two months but experts say the ongoing internal conflict could be counterproductive.
Families obtaining assistance from the housing scheme are to receive state-subsidised home loans or subsidised sales of land or housing units.
The budget airline announced that it will begin services to Bujumbura in Burundi, Entebbe in Uganda and Kigali in Rwanda.
Sheikh Abdulaziz Al al-Sheikh, the highest religious authority in the country, described the creed of al Qaeda and Islamic State as Islam’s “enemy number one” in his Friday sermon.
The lender will hold roadshows in Asia, the UAE and Europe from September 4, with a Tier 1-boosting bond issue to follow, subject to market conditions.