The bank is expected to start its regular operations by the end of March 2015.
Dubai’s index closed 7.3 per cent lower at 3,084 points, a one-year low, while Abu Dhabi’s benchmark ended 6.9 per cent lower on Tuesday.
Oil futures have almost halved since June amid rising output and cooling demand.
GCC states should rein in state spending, but in a gradual way to avoid hurting economic growth.
Hector Sants will advise the Abu Dhabi Global Market (ADGM) on the creation of its regulatory framework and its strategy.
Emirates set to be first airline to fly the A380 to Perth next summer
The collision is at least the second such recent incident involving vessels passing through the Suez Canal.
Authorities have not publicly identified the gunman, but a police source named him as Man Haron Monis, an Iranian refugee.
The majority of CFOs in the UAE reported a rise in optimism despite political turmoil in the region, a new survey says.
Interpol this month issued a Red Notice alert for Sheikh Youssef al-Qaradawi in connection with several alleged offences including murder, arson, vandalism and theft.
Belgian police cordoned off part of the city after the four men were seen entering the building in the Dampoort district, where they took a hostage.
Dana warned that the Kurdistan’s government could face sanctions if the autonomous region failed to pay the money to its consortium.
A quarter of organisations in the region have no women leaders in their 100 most senior roles, a survey by Mercer found.
At least one gunman has taken several people hostage at a central Sydney cafe.
Dubai’s gauge wiped out this year’s advances as oil prices plummeted to the lowest level since July 2009.
The latest addition will see Al Ghurair’s retail presence in the region increase to 90 shops from the 60 it currently operates in the UAE, Kuwait and Qatar.
Hazim Sharif steered clear of specific political references in interviews after his victory, which was broadcast to millions of viewers across the Middle East.
UAE minister of energy ruled out a cut in OPEC’s production or an emergency meeting soon to stabilise the falling oil prices.
OPEC Secretary-General said that Gulf countries should continue to invest in oil exploration despite the decline in oil prices.
PostNet provides courier, printing and copying services, plus stationery and mailboxes, and has 287 stores in South Africa.
The handover of Airbus’ first mainly carbon-composite jet was originally scheduled for December 13.
The low-cost carrier is launching new routes to Zagreb, Sarajevo and Sofia.
Under the grant, Jeddah-based IDB will setup treatment centres in Sierra Leone, Guinea and Liberia and Mali.
Songbird Estates is the owner of London’s Canary Wharf financial district.
It is particularly looking to expand into North Asia and mainland China and also wants to increase its presence in India.
The IEA slashed its outlook for global oil demand growth for 2015 by 230,000 barrels per day to 900,000 bpd.
The burden of supporting Syria’s displaced citizens has dampened business and investor confidence in Lebanon.
Although opportunities are abound, many entrepreneurs underestimate the challenges of starting up online.
Widely seen as a failed state, Yemen remains one of the gravest threats to stability in the Gulf and beyond.
As oil plunges, the region is dividing into three classe in investors’ eyes with Kuwait and Qatar emerging as the strongest.