Sovereign wealth funds from the UAE and Kuwait have reportedly agreed to buy stakes in India’s ONGC.
The bank reported that net profit for the full year increased by six per cent from 2010.
The Dubai government will continue to help government-related bodies, says Sheikh Ahmed bin Saeed al-Maktoum.
This is the first time that the UAE airline, started eight years ago, has recorded a profit.
The civic body said that cost-cutting measures were implemented to achieve a budget surplus in 2011.
Doha-based Mannai is planning to buy 58.8 percent of Damas in a deal estimated to be worth around $445 million.
Abu Dhabi’s Dolphin Energy will use the proceeds to meet its refinancing needs.
Dubai Gold and Commodities Exchange saw volumes increasing 95 per cent year-on -year in January.
The airline is planning an Islamic loan facility to fund two of its planes, according to reports.
The Abu Dhabi lender’s profits fell 19.2 per cent to Dhs135 million during the fourth quarter of 2011.
Abu Dhabi-based investment firm may shed more than half of its staff.
Tameer Princess Tower is the highest residential building on earth at 414 metres.
The move follows the stringent financial and trading sanctions imposed by the US and EU on Iran.
The UAE’s central bank is reportedly planning to limit credit card interest rate at 18 per cent annually.
The mall operator is undertaking several new projects across the Middle East this year.
According to the country’s Economy Minister, the Arab Spring has spurred growth in the UAE.
Abu Dhabi has recorded its most successful year ever in terms of hotel guest arrivals with some 2,111,611 visitors.
As the UAE climbs into steady recovery, is it any easier for small businesses to access bank lending?
As global markets witness a rollercoaster ride, local investors are turning to forex, a rising star on the trading platform.
As the region drowns in fake goods, fraudster gangs are endangering the local economy, creativity and safety.