The newly launched firm is aiming to establish a real estate portfolio worth Dhs500 million by the end of this year, the company’s chairman said.
Net profit for 2014 gained 20 per cent year-on-year to QAR1.6 billion.
Falling oil prices will slash Kuwait’s public revenues by 60 per cent, the country’s finance minister told the parliament.
The company’s Dhs500 million hotel project on Palm Jumeirah is set to open in Q4 2016.
The bank’s profit was boosted by strong performance in operating income.
The bank said its 2014 balance sheet was strengthened by its reclassification of its exposure to Dubai World, as performing.
Tim Clark says airline industry will reap the benefits of lower oil prices in 2015.
The company is considering refinancing two loans that fall due in June and November, an official said.
Dubai’s bourse added 1.6 per cent as most stocks gained.
SABIC’s chief executive Mohamed al-Mady told reporters that the outlook for 2015 was unpredictable and contingent on oil prices.
Dubai’s residential sector is likely to remain subdued over the next 12 months with the market absorb 25,000 extra units in 2015.
The company made a profit of SAR45.6 million ($12.2 million) in the last quarter of 2014.
The company earned SAR4.36 billion ($1.16 billion) in the last quarter, a statement said.
RAK Ceramics said it aimed to close the deal by March 25 and that the sale of shares would be at a premium to book value.
The Emirates will fund solar-powered projects in the Marshall Islands, Nauru, Palau, and the Solomon Islands through its $50m renewable energy fund.
Saudi Arabia is footing the budget of the King Abdullah bin Abdulaziz International Centre for Interreligious and Intercultural Dialogue in Austria.
The U.S. military has said it is planning to send more than 400 troops to train Syrian moderates outside the country.
Badawi was flogged 50 times last week but a second round of lashings was postponed for what a source told Reuters were medical reasons.
For the whole of 2015, the IEA raised its estimate of the demand for OPEC crude by 300,000 bpd to 29.2 million bpd.
The discontent among Bahrain’s Shi’ite masses has worsened since the arrest of Sheikh Ali Salman, a Shi’ite Muslim cleric.
The global aviation sector’s growth trajectory remains intact despite headwinds.
The proposed expansion would boost the capacity of the Sitra refinery by 100,000 barrels per day, BAPCO’s CEO said.
There were no casualties and limited damage was caused, state news agency KUNA said.
Industry sources in Qatar said that the country was still studying the possibility of investing in Venezuela’s energy, real estate and tourism sectors.
OPEC forecast demand for the group’s oil will drop to 28.78 million barrels per day (bpd) in 2015.
The project has a net power capacity of 200 MW and is the largest utility scale solar plant in the world to be tendered in a single phase
Bank Muscat made a profit of OMR36.5 million ($94.8 million) in the last quarter of 2014.
The firm made a net profit of OMR1.7 million ($4.4 million) in the last quarter of 2014.
The company did not specify where the shipment was headed to.
The carrier will sell aircraft from Sahaab Aircraft Leasing to a joint venture between South Africa’s Investec Bank and Hong Kong-based Chow Tai Fook Enterprises.