Ministry officials have not yet determined the cause of the fire and are investigating the incident.
The country plans to introduce multiple entry visas for cruise tourists by September this year.
The amount, secured from a unit of Standard Chartered Bank, will be used to buy two new aircraft.
Saudi Arabian Airlines has got approval to list 30 per cent of its catering unit on the Kingdom’s stock exchange.
Exclusive: Utility company International Power-GDF Suez does not face market concentration in the ME.
Survey shows majority of residents are either the same or better off than this time last year.
Residential rents in some areas have fallen to 2005/ 2006 levels, and occupancy levels have reached as low as 30 per cent.
A majority of JAFZA’s stakeholders have consented to the early redemption of the Sukuk, due in November.
Prince Alwaleed’s Kingdom Holding Company will retain its stake in the Fairmont San Francisco Hotel.
The Muslim Brotherhood and an ex-PM have secured the most votes in the first round of Egypt’s presidential elections.
Bank Nizwa, the country’s first Islamic bank, will be listed on the Muscat Securities Market on June 12.
The forecast for Middle Eastern economies has improved since the start of the year, said ICEAW.
Companies have returned to pre-recession levels of CEO turnover, suggesting outlooks are stronger.
The country is ranked 19th in the World Economic Forum’s Global Enabling Trade Report this year.
Investors have accused the company of hiding weakened growth forecasts ahead of its $16 billion IPO.
A new report states that 20 per cent of MENA banks need capital to meet the Basel III banking requirements.
Real estate projects in Qatar are not yet seeing an interest from global investors, say industry experts.
The Gulf state plans to issue the bond in the second or third week of June, a central bank official said.
UAE telecoms operator Etisalat will reduce international call tariffs from the second half of 2012.
The Kingdom’s defence ministry will be buying military aircraft from UK defence company BAE.
The OECD has warned that a worsening of the crisis could have “serious consequences” for the global economy.
Egyptians begin voting to elect their president in a poll believed to be the country’s first independent one.
As Cityscape Qatar begins, experts say that despite oversupply in the market, demand is catching up.
A new study shows family businesses are investing more in their corporate assets than their personal ones.
Saudi Arabia’s spending is on track as the Kingdom has seen limited impact from the Eurozone fallout.
The Abu Dhabi National Energy Company (TAQA) is studying energy investments in Turkey.
Journalists in the Kingdom have to be accredited by the Saudi Journalists Association, the Cabinet has said.
Digital Domain Media Group is opening up an animation and visual effects studio in Abu Dhabi’s twofour54.
The airport retailer has increased the size of its loan facility because of high demand, an official has said.
Gulf Business rounds up ten indicators that show that the emirate is back on the growth trajectory.