Increasing output from OPEC and slow global demand are easing fundamentals, said the International Energy Agency.
The Abu Dhabi-based investment company attributed the loss to negative fluctuations in its financial investments.
Dubai-based builder Arabtec has nominated four top Aabar executives to its board.
The Kingdom’s oil sector expanded 6.1 per cent during the fourth quarter of the year.
Despite officials confirming that the race is Bahrain is still on, many teams expect it to be called off amid security concerns, say reports.
Qatar Investment Authority said it is looking to invest $10 billion in India, but is waiting for policies to change in the country.
The two countries are set to strengthen bilateral trade ties, according to the UAE Minister of Foreign Trade.
Oman plans to issue sovereign bonds worth OR200 million this year, but is waiting for the right time, according to officials.
Al Rajhi Bank, SABB, Saudi Hollandi Bank and Banque Saudi Fransi recorded a rise in net profit during the first quarter of the year.
The new system will help in the trading of financial instruments such as derivatives and Sukuks.
A Kuwaiti court ruled that the man’s comments on Twitter caused sectarian divisions in the country.
The UAE-based construction company will eye major contracts in Qatar this year.
Around 77 per cent of Saudi firms are planning to hire more staff this year, according to a new survey.
Qatar National Bank recorded a net profit of $549 million during the first quarter of the year.
The airport retailer has chosen Dubai Islamic Bank, HSBC and Emirates NBD to arrange its $1.1 billion loan facility.
The carrier said that the loss was “justified” and blamed it on the rising fuel prices.
Qatar Investment Authority (QIA) currently holds a five per cent stake in global mining and metals company Xstrata.
Annual production in the GCC could reach five million tonnes by 2014.
Saudi Prince Alwaleed topped the list of regional billionaires released by Forbes with a fortune of $18 billion.
UAE banks will have to stop ‘yesteryear’ practices if they are to survive future competition.
Abu Dhabi National Energy Company (TAQA) booked a profit of $113 million on the sale.
Top finance guru Henry Azzam leaves MENA chairman role, citing no reasons.
The Saudi-based dairy company said that net profits for the first quarter of the year rose 2.9 per cent year-on-year.
The International Automobile Federation (FIA) said that it was keeping a close watch on the escalating violence in Bahrain ahead of the grand prix on April 22.
The Saudi-based chemical producer is planning to build a technology research and development in Shanghai.
The UAE oil production was reportedly at full capacity because of the rising demand.
Dubai International Capital, the private equity arm of Dubai Holding, has reached a final agreement with creditors for restructuring its debt.
The UAE and Qatar also ranked high for their IT technologies on the global index compiled by the World Economic Forum and INSEAD.
The new process, jointly introduced by the UAE and India, aims to improve transparency in the recruitment of workers.
The Kingdom also slashed its crude prices for Europe, as oil demand weakens.