The decision follows the ruling of an Indian court to cancel 122 telecoms licences in the country amid a corruption scandal.
The proceeds from the dual-currency loan will be used to fund the first phase of the Al-Sufouh project.
Abu Dhabi-based Al Jaber Group may hire a new CEO as part of a $1 billion restructuring plan, according to sources.
Levant Capital and Citi Venture Capital International have acquired a major stake in the Al Raya supermarket chain.
The Health Authority of Abu Dhabi (HAAD) has found that many slimming products contain dangerous drugs.
The integrated mining project is expected to contribute around SAR15 billion to the Kingdom’s GDP per year.
The Bahraini carrier said that the sum has been outstanding from the time Oman pulled out of Gulf Air in 2007.
The company is reportedly in talks with banks for a loan to repay its $3 billion deal that matures in October.
Dubai-based Abraaj Capital is planning to bid for Calik Holding’s media assets, according to sources.
The financial centre welcomed 56 new companies in 2011 and is eyeing companies from emerging markets.
The cash injection into the Dubai Mercantile Exchange (DME) has diluted the stake of Dubai Holding.
The telecoms operator said it is discussing restructuring options as it struggles to stall dropping profits.
Qatar’s sovereign wealth fund acquired the building for an undisclosed sum and has now leased it back to the bank.
The bank has mandated Emirates NBD Capital, HSBC and Standard Chartered Bank to arrange investor meetings.
The region’s trade with Russia, India and China is set to grow much faster than trade with developed economies.
The region may even top the world in terms of growth of wealthy individuals this year, according to experts.
The recently inaugurated Green Line saw more than 11.8 million passengers during its first five months.
Saudi Arabia’s biggest property developer, Dar al-Arkan, plans to repay 3.7 billion riyals of debt this year, said CFO .
Sovereign wealth funds from the UAE and Kuwait have reportedly agreed to buy stakes in India’s ONGC.
Greater demand for expatriate workers boosts GCC population growth.
Prince Alwaleed says his upcoming Arabic news channel will stand out from the competition.
The New Economic Cities announced six years ago are yet to begin contributing to Saudi’s economy.
Brent crude slips to $118 as a final decision on Greece’s bailout package faces a possible delay.
The bank reported that net profit for the full year increased by six per cent from 2010.
Issuers and investors remained wary of volatility in the capital markets, according to PwC.
The bond was five times oversubscribed and received orders from more than 270 investors globally.
The Dubai government will continue to help government-related bodies, says Sheikh Ahmed bin Saeed al-Maktoum.
The agreements were signed between Oman’s health ministry and Oman LNG.
Smoking cigarettes and shisha in most public places will now be punishable by law.
Sheikh Salem Abdul-Aziz al-Sabah blamed a rise in public spending for his decision.