Aabar said that it had only raised its stake in Arabtec to 20.7 per cent and not 53 per cent as previously reported.
High oil prices “pose a real threat to the economic recovery” says the International Energy Agency.
The Dhs150 million project will replace the existing zoo and will also include a butterfly park and golf courses.
The IMF questions Kuwait’s fiscal stimulus and warns of the sustainability of public finances.
Abu Dhabi Islamic Bank reported that revenues rose 7.3 per cent to reach Dhs874.8 million during the period.
The Dubai investment conglomerate recorded a revenue drop of three per cent during the period.
The airport is increasing passenger capacity from 250,000 to two million in the next 12 to 18 months.
Average food and beverage prices rose sharply during the period, according to official statistics.
Saudi’s GACA says new international airline licences will be operational by April next year.
The Kingdom’s oil minister Ali al-Naimi said that an oil price of $100 per barrel would be “great.”
Qatar Investment Authority has reportedly acquired between three to five per cent of oil major Royal Dutch Shell.
Qatar has reportedly mandated five banks to help arrange a new sovereign Islamic bond.
The oil producing group said that crude oil supply was in excess of market requirements.
The Emirates’ inflight magazine will produce its June issue from the world’s highest office, at Burj Khalifa.
Laws exist to regulate governance standards in the UAE, but the country’s culture needs to change, say experts.
The emirate is planning a massive advertising campaign in New York’s Times Square to attract more US visitors.
The airline said that despite an increase in revenue, its profit was hit by rising fuel costs and unrest in the region.
The telecoms operator posted a net profit of Dhs333.1 million during the first quarter of the year.
The Japanese car manufacturer reported that its net profit for the year to March reached $3.5 billion.
The Bahraini lender’s net profit rose seven per cent during the first quarter of the year to reach $57.4 million.
Prince Alwaleed’s upcoming news channel, Al Arab will also be headquartered in Manama.
The Abu Dhabi investment fund said that a majority of its expenditure will relate to its semiconductor unit ATIC.
The construction firm made a net profit of Dhs84.1 million during the first quarter of the year.
Under the agreement, China State Construction develop real estate projects in Abu Dhabi.
Regional advertising spend is expected to pick up in the next few years and reach $5.95 billion by 2015.
Five international hotel brands are planning to hire almost 50,000 staff in the region over the next three to five years.
Etihad Rail and DP World have signed an agreement to develop an intermodal rail terminal in Jebel Ali Port.
The Saudi billionaire is looking for returns of 20 to 25 per cent from the investments, he told a German paper.
Dubai Financial Market (DFM) recorded revenues of Dhs69.1 million during the first quarter of the year.
Saudi also has 80 million oil barrels in storage for sudden need, the Kingdom’s oil minister Ali al-Naimi said.